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Newborn Screening Market Size 2021 Analysis by Business Share, Industry Growth Statistics, Prominent Players Strategies, Investment Opportunities, Revenue Expectation, Future Trends, Covid-19 Impact and Forecast till 2030

Report Ocean presents a new report on Newborn Screening Market size, share, growth, industry trends, and forecast 2030, covering various industry elements and growth trends helpful for predicting the market’s future. The global newborn screening market size was US$ 0.83 billion in 2020. The global newborn screening market is forecast to reach US$ 1.8 billion by 2030 by growing at a compound annual growth rate of 7.8% during the forecast period from 2021-2030.

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In order to produce a holistic assessment of the market, a variety of factors is considered, including demographics, business cycles, and microeconomic factors specific to the market under study. Newborn Screening Market report 2021 also contains a comprehensive business analysis of the state of the business, which analyzes innovative ways for business growth and describes critical factors such as prime manufacturers, production value, key regions, and growth rate.

The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.

This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.

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Newborn screening is a method of identifying symptoms that may affect a child’s health in the long run. Newborn screening technology is used to perform several tests necessary for early detection, diagnosis of a child’s health. These tests are carried out to acknowledge genetic, developmental, and metabolic problems in newborn babies.

Factor Influencing

The global newborn screening market is expanding rapidly. As the birth rate is growing, the demand for newborn screening technologies is growing as well.

The growth of the newborn screening market would be propelled by beneficial technological advancements throughout the globe. In 2019, Demant A/S (Denmark) introduced a hearing screening system, easy screen BERAphone, at the 64th International Congress of Hearing Aid Acousticians in Nuremberg, Germany. Thus, such advancements may fuel market growth in the coming years. Several governments throughout the world are investing in newborn screening facilities and adopting a number of efforts to improve public knowledge about newborn screening and its advantages. Moreover, several non-profit and government organizations are attempting to improve both the baby’s and the mother’s well-being. The government is also relaxing restrictions on the manufacture and sale of newborn screening equipment, allowing businesses to develop more diversified systems. Thus, government initiatives would propel market growth in the coming years.

The lack of proper healthcare facilities and infrastructure is creating a significant challenge to the industry’s expansion.

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COVID-19 Impact Analysis

The newborn screening market witnessed a slight impact during the pandemic. It is due to legislation regarding child’s safety in various countries. However, strict laws to monitor newborn health and protect babies from disorders like COVID-19 helped the newborn screening market to grow. Many government institutions and screening laboratories educate parents about their children’s health.

COVID-19 caused an abrupt effect on the market players such as Natus (US), PerkinElmer (US), and Masimo (US). The companies had to halt production and distribution for some time. However, operations restarted again as the governments started lifting lockdowns.

Regional Analysis

The Asia Pacific market for newborn screening is predicted to grow at a rapid rate during the forecast period. Factors such as the growing population and rising prevalence of illnesses drive the growth of the regional market. Moreover, growing awareness regarding early disease diagnosis and the expansion of important competitors are the other major factor driving the market growth.

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Market Segmentation

By Test Type

Dry Blood Spot Test

Hearing Screen Test

Critical Congenital Heart Diseases (CCHD) TEST

By Technology

Tandem Mass Spectrometry (TMS)

Electrophoresis

Immunoassays and Enzymatic Assays

DNA-Based Assays

Hearing Screen Technology

Pulse Oximetry Screening Technology

By Product Type

Newborn Disorder Screening Instruments

Newborn Hearing Screening Instruments

Hearing Screening Devices

Hearing Screening Accessories

Pulse Oximeters

Reagents and Assay Kits

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By Region

North America

The U.S.

Canada

Mexico

Europe

Western Europe

The UK

Germany

France

Italy

Spain

Rest of Western Europe

Eastern Europe

Poland

Russia

Rest of Eastern Europe

Asia Pacific

China

India

Japan

Australia & New Zealand

ASEAN

Rest of Asia Pacific

Middle East & Africa (MEA)

UAE

Saudi Arabia

South Africa

Rest of MEA

South America

Brazil

Argentina

Rest of South America

Competitors in the Market

Ab Sciex LLC (a subsidiary of Danaher Corporation)

Perkinelmer, Inc.

Waters Corporation

Natus Medical Incorporated

Masimo Corporation

Agilent Technologies Inc.

Bio-Rad Laboratories Inc.

Covidien Plc

Ge Healthcare (a subsidiary of General Electric Company)

Trivitron Healthcare

Other prominent players

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What are the aspects of this report that relate to regional analysis?

The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.

Reports on the market include the growth rates of each region, which includes their countries, over the coming years.

How are the key players in the market assessed?

This report provides a comprehensive analysis of leading competitors in the market.

The report includes information about the key vendors in the market.

The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.

The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.

A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.

What is the key information extracted from the report?

Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter’s Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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Updated : 2022-01-24 23:20 GMT+08:00

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