The non-invasive prenatal testing market is projected to reach USD 7.3 billion by 2024 from USD 3.9 billion in 2019, at a CAGR of 13.5%
NEW YORK, Sept. 17, 2019 /PRNewswire/ -- Growth in this market is driven by the high risk of chromosomal abnormalities with increasing maternal age.
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The non-invasive prenatal testing market is projected to reach USD 7.3 billion by 2024 from USD 3.9 billion in 2019, at a CAGR of 13.5% during the forecast period. Growth in this market is driven by the high risk of chromosomal abnormalities with increasing maternal age, growing preference for non-invasive techniques over invasive methods, improving reimbursement scenario for NIPT, and increasing awareness of NIPT. However, a dearth of skilled professionals is restraining the growth of this market.
The services segment is expected to grow at the highest CAGR during the forecast period.
Based on product and service, the NIPT market is segmented into products and services.The services segment is estimated to register the highest growth rate during the forecast period.
The rising incidence of genetic disorders, increasing focus on prenatal screening, and government initiatives to provide prenatal testing services are contributing to the growth of this market.
The diagnostic laboratories segment accounted for the largest share of the NIPT products market in 2018.
Based on end user, the NIPT products market is classified into diagnostic laboratories and hospitals.In 2018, diagnostic laboratories formed the largest and fastest-growing end users of NIPT products.
This can primarily be attributed to factors such as the implementation of initiatives by diagnostic laboratories to provide safe and effective prenatal tests and rising incidence of chromosomal abnormalities.
Asia to witness high growth during the forecast period.
By region, the global NIPT market is segmented into North America, Europe, Asia, and the Rest of the World (RoW).In 2018, North America accounted for the largest market share, followed by Europe.
On the other hand, Asia is expected to grow at the highest CAGR during the forecast period. The developing healthcare infrastructure, rising awareness programs & conferences, and rising focus of prominent players on expanding their presence in Asia are driving market growth in this region.
The primary interviews conducted for this report can be categorized as follows:
-- By Company Type: Tier 1 (32%), Tier 2 (44%), and Tier 3 (24%)
-- By Designation: C-level (30%), D-level (34%), and Others (36%)
-- By Region: North America (40%), Europe (28%), Asia (20%), and RoW (12%)
List of Companies Profiled in the Report
-- Illumina, Inc. (US)
-- Thermo Fisher Scientific Inc. (US)
-- GE Healthcare (US)
-- BGI (China)
-- Agilent Technologies, Inc. (US)
-- F. Hoffmann-La Roche Ltd. (Switzerland)
-- PerkinElmer Inc. (US)
-- Laboratory Corporation of America Holdings (LabCorp) (US)
-- Natera, Inc. (US)
-- Yourgene Health (UK)
Research Coverage:
This report provides a picture of the global NIPT market.It aims at estimating the size and future growth potential of the market across different segments, such as product & service, application, and region.
The NIPT products market is segmented on the basis of method and end user. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall NIPT market and its subsegments.This report will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies.
It will also enable stakeholders to understand the pulse of the market and provide them with information on the key market drivers, challenges, and opportunities.
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