Global Pre-pregnancy Genetic Testing Market: Overview
Pre-pregnancy genetic testing contains a collection of tests used to distinguish hereditary anomalies in a gestating hatchling. Hereditary anomalies can cause serious circumstances later on, bringing about mental hindrance, strokes, loss of motion, heart conditions, and so forth. Examination of the hereditary makeup of the embryo through pre-pregnancy genetic testing enables gynecologists to recognize such conditions and set up a treatment procedure. Chromosomal variations from the norm, for example, 18 (Edwards disorder) and trisomy 13 (Patau disorder) are among the conditions that can be recognized through pre-pregnancy genetic testing.
The worldwide pre-pregnancy genetic testing market is extending because of the expanding awareness among expecting moms about the advantages of conducting hereditary testing at an opportune time. This permits to be parents to prepare emotionally and monetarily to support a baby who could have special requirements. The expanding advancement in technology in the medical and healthcare field and broad research into hereditary qualities to comprehend the causal connections between phenotypical features and medical field have additionally profited the worldwide pre-pregnancy genetic testing market, by making the testing forms more solid, proficient, and advantageous.
Innovations in technologies involved in genetic testing procedures and equipment has likewise made the testing methodology more convenient and reliable. The expanded accommodation of cutting edge pre-pregnancy genetic testing has been especially essential for the worldwide market, as the rising inclination for minimally invasive medical processes has surged the demand for modern pre-pregnancy genetic testing. The growing expenditure on healthcare in the emerging economies is also a factor that can have significant impact on the growth of the market.
Global Pre-pregnancy Genetic Testing Market
Pre-pregnancy genetic testing comprises a suite of tests used to identify genetic abnormalities in a gestating fetus. Genetic abnormalities can cause severe conditions later on, resulting in mental retardation, strokes, paralysis, cardiac conditions, etc. Examination of the genetic makeup of the fetus through pre-pregnancy genetic testing allows gynecologists to identify such conditions and prepare a treatment plan. Chromosomal abnormalities such as trisomy 13 (Patau syndrome) and 18 (Edwards syndrome) are among the conditions that can be identified through pre-pregnancy genetic testing.
The global pre-pregnancy genetic testing market is expanding due to the increasing awareness among expecting mothers about the benefits of conducting genetic testing early on. This allows expecting parents to prepare mentally as well as financially to support a child who could have special needs. The increasing technological innovation in the medical field and extensive research into genetics to understand the causal links between gene expression and phenotypical features have also benefited the global pre-pregnancy genetic testing market, by making the testing processes more reliable, efficient, and convenient.
Global Pre-pregnancy Genetic Testing Market: Drivers and Restraints
The increasing awareness among expecting parents about genetic conditions and the possibility of identifying them early on has been the result of the improving living standards of the global population. The increased average age of mothers, due to the rising preference among urban parents to delay pregnancy, has also played a significant role in driving the demand for pre-pregnancy genetic testing. Along with the awareness, the number of parents who can afford comprehensive pre-pregnancy genetic testing has also increased substantially in the last few decades. These factors have resulted in a growing demand for pre-pregnancy genetic testing.
Technological innovation in genetic testing equipment and procedures has also made the testing procedures more reliable and convenient. The increased convenience of advanced pre-pregnancy genetic testing has been particularly important for the global market, as the rising preference for minimally invasive medical procedures has added to the demand for modern pre-pregnancy genetic testing. The increasing health care expenditure in developing economies has also helped the pre-pregnancy genetic testing market.
Currently, the high prices of pre-pregnancy genetic testing are the major restraint acting on the global market for the same. This is a major issue in developing countries, where, despite the rampant urbanization and improving living standards of the vast middle class, pre-pregnancy genetic testing remains unaffordable for the majority. Technological innovation and the increasing demand for pre-pregnancy genetic tests will help market players offer these services at affordable rates.
Global Pre-pregnancy Genetic Testing Market: Regional Overview
The global pre-pregnancy genetic testing market has traditionally been dominated by North America. The advanced health care infrastructure established in North America and the high purchasing power of North American consumers, which allows them to avail expensive medical services, have propelled this regional market. North America is also a major hub for medical research, including research into making pre-pregnancy genetic testing more affordable and convenient for the masses. This has made incorporation of technological advances into the existing health care scenario much easier, driving the regional pre-pregnancy genetic testing market.
In the coming years, Asia Pacific is likely to become a major regional player in the global market for pre-pregnancy genetic testing. The improving living standards of consumers in this region, rampant urbanization and widespread establishment of the accompanying infrastructure in countries such as India, China, Japan, and South Korea, and the increasing awareness about advanced medical procedures in the region are the major factors propelling the Asia Pacific pre-pregnancy genetic testing market at present.
Major players operating in the global pre-pregnancy genetic testing market include Illumina, Inc., Sequenom Laboratories, Natera, Inc., BGI Health, and Ariosa Diagnostics, Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.