Prenatal and Newborn Genetic Testing Market Predicted to Reach USD 14.72 Billion, Globally, by 2031 at 11.5% CAGR: Allied Market Research

The rise in prevalence of congenital malformations and genetic abnormalities in newborn babies, the increased demand for non-invasive prenatal screening, and the adoption of novel diagnostic methods for screening drive the global prenatal and newborn genetic testing market

PORTLAND, Ore., Feb. 20, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Prenatal and Newborn Genetic Testing Market by Product Type (Consumables, Instruments), by Screening (Non-invasive Prenatal Testing, Chronic Villus Sampling, Amniocentesis, Maternal Serum Screening, Others), by Disease (Downs Syndrome, Phenylketonuria, Cystic Fibrosis, Sickle Cell Anemia, others), by End User (Hospital, Maternity and Specialty Clinics, Diagnostic Centers): Global Opportunity Analysis and Industry Forecast, 2021-2031" According to the report, the global prenatal and newborn genetic testing  industry was valued at $4.89 billion in 2021 and is estimated to generate $14.72 billion by 2031, witnessing a CAGR of 11.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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Drivers, Restraints, and Opportunities

The rise in prevalence of congenital malformations and genetic abnormalities, the surge in demand for non-invasive prenatal screening, increased unmet healthcare needs, rise in awareness about prenatal and newborn genetic testing, adoption of novel diagnostic methods for screening, improvement in healthcare facilities, and rise in disposable incomes fuel the growth of the global prenatal and newborn genetic testing market. However, the chances of miscarriage due to some of the prenatal testing and high cost of screening methods and diagnostic tests are likely to hinder the global market growth. On the other hand, a rise in incidence of Down's syndrome, an increase in the number of women with advanced maternal age, a rise in R&D investments in the discovery & development of novel screening methods and the rise in awareness regarding the early detection of diseases will present new growth opportunities for the global prenatal and newborn genetic testing market in the coming years.

Impact of Covid-19 on Prenatal and Newborn Genetic Testing Market-

• The outbreak of the COVID-19 pandemic forced a number of industries, including several sub-domains of healthcare, to shut down temporarily.
• The global prenatal and newborn genetic testing market experienced a decline in 2020 due to strict government regulations and restrictions and the global economic recession led by COVID-19.
• However, the market witnessed a recovery in 2021 and is expected to show stable growth in the coming future. This is attributed to the increase in the adoption novel screening methods in developing countries such as China and India.

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The consumables segment to dominate the market during the forecast period

Based on product type, the consumables segment contributed to the largest share of nearly three-fifths of the global prenatal and newborn genetic testing market in 2021 and is expected to dominate during the forecast period. This is due to a rise in the number of pregnant women and an increase in newborn screening for genetic testing globally. The instruments segment, however, is projected to witness the fastest CAGR of 12.3% from 2022 to 2031. This is due to the rise in the adoption of prenatal and newborn testing in developing countries.

The non-invasive prenatal testing segment to maintain its leadership during the forecast period

Based on screening, the non-invasive prenatal testing segment held the largest share of more than two-thirds of the global prenatal and newborn genetic testing market in 2021 and is expected to maintain a prominent revenue during the forecast period. The same segment is expected to exhibit the highest CAGR of 12.0% in 2031. This is owing to an increase in noninvasive prenatal tests to detect genetic disorders.

The hospital segment to dominate the market during the forecast period

Based on end user, the hospital segment contributed to the largest share of nearly half of the global prenatal and newborn genetic testing market in 2021 and is expected to dominate during the forecast period. The same segment is projected to witness the fastest CAGR of 12.4% from 2022 to 2031. This is due to an increase in the number of hospitals and a rise in the number of patients undergoing screening from hospital facilities.

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North America to garner the largest revenue by 2031

Based on region, the market in North America was the largest in 2021, accounting for two-fifths of the global prenatal and newborn genetic testing market and is expected to maintain its dominance during the forecast period. This is due to the high adoption of advanced prenatal and newborn genetic testing devices, rise in pregnancy rate, and availability of well-developed healthcare infrastructure in the region. However, the market in Asia-Pacific is likely to show the fastest CAGR of 12.6% during the forecast period. This is owing to improvement in health awareness, development in healthcare facilities, adoption of prenatal and newborn genetic testing, and surge in healthcare expenditure in the region.

Leading Market Players

• Bio-Rad Laboratories Inc.
• Mettler Toledo
• Thermo Fisher Scientific Inc.
• Abbott Laboratories
• Laboratory Corporation of America Holdings
• BGI Group
• PerkinElmer Inc.
• Natera Inc.
• F. HoffmannLa Roche AG
• Quest Diagnostics Incorporated

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