Global Prenatal Testing Market: Overview
The global prenatal testing market is likely to be driven by growing number of stillbirths across the globe. Stillbirths are likely to offer sizeable growth opportunity during the period of forecast. In addition, there has been a rise in the level of awareness about prenatal testing in mostly developing countries. With better accessibility of healthcare facilities and augmented disposable income, people are choosing to know about the health of both baby and would-be mother during pregnancy. These factors are likely to propel growth of the global prenatal testing market in years to come.
Test type, region, and end user are the parameters based on which the global prenatal testing market has been segmented.
Global Prenatal Testing Market: Notable Developments
The below-mentioned is one of the significant developments in the global prenatal testing market:
- In January 2017, Agilent Technology made an acquisition of Belgium based Multiplicom N.V. in an effort to generate all-inclusive present of next-generation sequencing solutions. The latter produces molecular diagnostic solutions for commercial purposes. These diagnostic solutions are useful in the detection of congenital defects in advance during the pregnancy tenure. It also detects other genetic condition in the fetus.
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Some of the well-known companies functioning in the global prenatal testing market are as mentioned below:
- P Ariosa Diagnostics
- America Holdings
- Eurofins NTD Inc.
- Prenatal Paternities Inc.
- Illumina Inc.
- Natera Inc.
Global Prenatal Testing Market: Key Trends
The following drivers, restrains, and opportunities is expected to shape the future course of the global prenatal testing market during the study tenure, from 2019 to 2027.
Increased Government Initiatives and Benefits of Prenatal Testing Drive Market Growth
During pregnancy, prenatal tests give out information about the health of the fetus and the mother. Prenatal tests are extremely useful in giving birth to a healthy baby, which is the global prenatal testing market is gathering substantial momentum in a short period of time.
Prenatal tests help in the detection of problems like genetic conditions or birth defects. The outcome of these tests can help the would-be parents to decide on the best healthcare decisions taken in the best interest of both the baby and the mother. Emergence of various technologies like cell free fetal DNA, next generation sequencing, and high throughput screening (HTS) have added more value to prenatal testing. Thus, these technologies play a determinant role in the expansion of the global prenatal testing market.
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Several government institutions are taking part in raising level of awareness about benefits of prenatal testing. However, government initiatives are mostly restricted to non-invasive solutions like arranging screening programs on a large scale and regulating the growing cases of genetic defects. The initiatives of government are focused toward meeting the unmet demands of pregnant women.
However, these government rules and regulations play a critical role in fostering growth and expansion of the market. These regulations are aimed at making prenatal tests and consequent solutions more focused and adaptable toward efficacious diagnosis of chromosomal abnormalities and genetic disorders.
Global Prenatal Testing Market: Geographical Analysis
Considering regional viewpoint, the global prenatal testing market is classified into five key regions: the Middle East & Africa, Asia-Pacific, Europe North America, and Latin America.
At present, North America commands the global prenatal testing market with a sizeable chunk of the market under its control. North America is trailed by Europe. In these developed parts of the world, the number of stillbirth are declining, however infections and chromosomal abnormalities are causing health issues both to the child and mother.
Asia Pacific and Middle East and Africa are likely to exhibit high growth rate, thanks to improved accessibility to better healthcare facilities and rising awareness about prenatal tests.
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.