Global Prenatal Diagnostics Market: Overview
Prenatal diagnostics is a procedure for testing the fetus before birth to determine certain hereditary disorders such as Down’s syndrome, genetic diseases, chromosome abnormalities, neural tube defects, and other conditions. In case of high risk related to the birth of a child, it can assist by conducting numerous procedures of genetic testing common testing, and screening.
The global prenatal diagnostics market is segmented on the basis of tests into Harmony PrenaTest, BambniTest, NIFTY (Non-invasive fetal trisomy test), Verifi, informaSeq, informaSeq Panorama, MaterniT21 PLUS, and VisibiliT.
In the report, Transparency Market Report (TMR) presents a comprehensive analysis of drivers and restrictions in the global prenatal diagnostics market. It also provides insight into the major segments and regions of the market.
Global Prenatal Diagnostics Market: Trends and Prospects
The global prenatal diagnostics market is driven by numerous factors such as growing demand for non-invasive prenatal diagnostics, rise in detection rates of Down’s syndrome, technology advancements, and the crucial one being increasing age of mothers which develops the possibility and risk of chromosomal abnormalities. However, strict regulatory framework and traditional ethical outlook towards prenatal testing can limit the growth of the prenatal diagnostics. In addition, non-invasive prenatal tests and alternative screening and testing methods can also create hurdles for the market growth.
On basis of tests, MaterniT21 plus segment will largely contribute to the market share, and is expected to lead the market during the forecast period. It is preferred over the other tests in the category as it is the first of its kind diagnostic system. Due to higher accuracy and safety panorama and verifi tests are also high in demand and is projected to register a strong CAGR during the forecast period. Moreover, increased market penetration and aggressive marketing strategies by companies are further propelling the growth of these tests.
Global Prenatal Diagnostics Market: Regional Analysis
The global prenatal diagnostics market is segmented on the basis of geography into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Among the mentioned regions, North America is expected to lead the regional segment. The factors leading to the growth of this region can be attributed to growing efforts of coalitions between companies and hospitals and increasing penetration of the testing procedures. In addition, due to increase in the rate of high risk pregnancies and rising average age for child bearing leading to development of chromosomal disorders, the market is said to propel over the forecast period. With increased penetration of companies and rising approvals by the European commission organizations, the European market is anticipated to thrive in terms of revenue.
The Middle East and Asia Pacific are untapped territories for many established market players. With better marketing strategies and positioning, major companies are planning to venture in this region, thereby increasing the market growth. Moreover, supportive government research initiatives, rising disposable income, increasing paranoia of to-be mothers for the health of their child are some of the factors supplementing the market growth of non-invasive prenatal diagnostics.
Companies Mentioned in the Report
Some of the leading players in the global prenatal diagnostics market are Hologic Inc., Sequenom, Inc., PerkinElmer, Inc., Ravgen, Inc., Sequenom Center for Molecular Medicine, LLC, Abbott Molecular, Angle Plc., and TrovaGene, Inc.
The Global Prenatal Diagnostics Market is segmented as follows:
Global Prenatal Diagnostics Market, by Type
- MaterniT21 PLUS
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.