[New Report] Newborn Screening Market is estimated to be US$ 2.9 billion by 2029 with a CAGR of 10.8 % during the forecast period-By PMI

Covina, Sept. 13, 2023 (GLOBE NEWSWIRE) — Newborn screening is a test which basically carried out in identifying any harmful or potentially fatal disorders which can have an effect on a child’s long-term health and survival. By using this test, early detection and appropriate standards of diagnosis and treatment makes possible to prevent death and promote the healthy development of an infant.

The rising neonatal population and growing prevalence of new-born disorders has provided lucrative opportunities in market growth. Further, rising favorable government programs for newborn screening has driven market growth. The presence of major players and launch of advanced instruments in screening is expected to foster the demand for Newborn Screening market growth over the forecast period.

The report “Newborn Screening Market, By Product (Instruments, and Reagents and Assay Kits), By Technology (Tandem mass spectrometry, Pulse oximetry, Enzyme and Immunoassays, DNA assay, Electrophoresis, and Hearing Screen), By Test Type (Dry blood spot test, Critical Congenital Heart Disease (CCHD) test, and Hearing screen test), and Region – Global Forecast to 2029″

Key Highlights: 

• In June 2023, the eight taluk hospitals in Mysuru has set to launch newborn screening programme. The Mysuru-based AIISH (All India Institute of Speech and Hearing) joined hands with Department of Health and Family Welfare to sensitize medical team who is working under RBSK (Rashtriya Bal Swasthya Karyakram) and DEIC (Dsitrict Early Intervention Centre) on screening communication disorders in infant and children.
• In August 2022, Trivitron Healthcare Pvt. Ltd., has launched new CoE (Centre of Excellence), with state of art R&D manufacturing facilities in newborn screening, genomics, metabolomics and molecular diagnostics. In this newly launched facility, IVD CE-approved kits for newborn screening, cancer markers, infectious & non-infectious diseases, based on ELISA, RT-PCR, CLIA, Rapid cards, and clinical chemistry will be manufactured.

Analyst View:
The advancement in technology coupled with advanced medical instruments, has become a leading factor in target market growth. Further, well-advanced and robust healthcare infrastructure coupled with availability of newborn screening programs and rising awareness among women’s about their health and advancement in tests is expected to fruitful the demand for Newborn Screening market growth in coming years.

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Report Scope:

Attribute	Details
Base year for estimation	2022
Forecast period	2022 – 2032
Market representation	Revenue in USD Billion & CAGR from 2022 to 2032
Market Segmentation	By Product – Instruments, and Reagents and Assay Kits By Technology – Tandem Mass Spectrometry, Pulse Oximetry, Enzyme and Immunoassays, DNA Assay, Electrophoresis, and Hearing Screen By Test-Type – Dry Blood Spot Test, Critical Congenital Heart Disease (CCHD) Test and Hearing Screen Test
Regional scope	North America – U.S., Canada Europe – UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific – Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America – Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage   Customization Available:	Revenue forecast, company share, competitive landscape, growth factors, and trends https://www.prophecymarketinsights.com/market_insight/Insight/request-customization/438

Who are the major players in Newborn Screening Market?

• Thermo Fisher Scientific Inc
• GE Healthcare
• Bio Rad Laboratories Inc
• PerkinElmer Inc
• ZenTech S.A.
• Trivitron Healthcare
• MP Biomedicals
• Agilent Technologies
• Medtronic plc
• Natus Medical Incorporated

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Browse in-depth TOC on “Newborn Screening Market”
60 – Tables
35 – Figures
140 – Slides

What are some challenges faced by the Newborn Screening Market?

• Access and Equity: Ensuring equitable access to newborn screening services can be challenging, especially in low-income and underserved communities. Disparities in healthcare access can lead to some infants not receiving timely screening.
• Variability in Screening Programs: Screening programs vary from region to region and even from one healthcare facility to another. Consistency in screening protocols and the diseases screened for can be a challenge.
• Expanding the Test Panel: As new genetic disorders are discovered, there is a constant need to expand the screening panel. This requires substantial research, funding, and regulatory approvals.
• Cost and Reimbursement: The cost of screening tests and the reimbursement mechanisms in place can be a barrier, especially for families without adequate insurance coverage. Reducing costs while maintaining test accuracy is an ongoing challenge.
• False Positives and False Negatives: Newborn screening tests are not always 100% accurate. False positives can lead to unnecessary stress and follow-up testing, while false negatives can result in missed diagnoses.
• Quality Assurance: Ensuring the quality and accuracy of screening tests across different laboratories and healthcare facilities can be challenging. Regular quality control measures are necessary to maintain accuracy.
• Privacy and Informed Consent: As genetic information is collected during newborn screening, privacy concerns and informed consent for parents become important ethical considerations.
• Follow-up and Treatment: Identifying infants with a positive screening result is just the first step. Ensuring that these infants receive timely follow-up testing, diagnosis, and treatment is crucial. Coordinating care can be challenging.

What are the Drivers of the Newborn Screening Market?

• Growing Incidence of Genetic Disorders: The prevalence of genetic and metabolic disorders in newborns is increasing. Awareness and understanding of these conditions have also risen, prompting more demand for screening.
• Government Mandates and Regulations: Many countries have implemented mandatory newborn screening programs or expanded the list of screened disorders, increasing the number of infants screened. Regulations ensure that a larger portion of the population receives these tests.
• Rising Healthcare Expenditure: Increasing healthcare expenditure and insurance coverage have made it more accessible for parents to opt for newborn screening services. This has contributed to market growth.
• Advocacy and Awareness Campaigns: Advocacy groups and healthcare organizations actively promote the importance of newborn screening. These campaigns raise awareness among parents and healthcare professionals, encouraging more widespread adoption.

What is the outlook for mergers, acquisitions, and partnerships within the Newborn Screening Market?

• Market Growth: The newborn screening market is expanding due to technological advancements, increasing prevalence of genetic disorders, and government mandates. This growth makes it an attractive sector for investment and consolidation.
• Technological Advancements: Ongoing technological advancements in genetic testing and diagnostics create opportunities for companies to acquire or partner with firms that have innovative screening technologies or proprietary tests.
• Diversification: Established healthcare companies may seek to diversify their offerings by entering the newborn screening market through acquisitions or partnerships, leveraging their existing infrastructure and customer base.
• Global Expansion: As awareness and demand for newborn screening increase worldwide, there is potential for mergers, acquisitions, and partnerships to facilitate global expansion and market penetration.
• Emerging Markets: Companies may explore opportunities in emerging markets where newborn screening programs are still developing, presenting potential for growth through partnerships with local healthcare providers or governments.

Conclusion:

In conclusion, the newborn screening market is characterized by a combination of challenges and drivers that shape its current landscape and future outlook. Challenges include issues related to access and equity, the need for consistent screening protocols, and ethical considerations. However, these challenges are met with significant drivers such as technological advancements, increasing prevalence of genetic disorders, government regulations, and growing awareness, which are propelling the market forward.

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