Continuous Advances in Point-of-care Screening Tools to Propel Strides in Newborn Screening Market, Valuation to Climb to US$ 3.3 Bn by 2031: Transparency Market Research

ALBANY, N.Y., July 26, 2021 /PRNewswire/ -- The adoption of new tools and approaches for managing rare conditions in newborns is continuously shaping the contours of the newborn screening market landscape. The focus on long-term health and survival outcomes of child has spawned revenue potential for healthcare providers. Newborn screen programs have remarkably kicked in developed countries. In developing economies, the awareness about the morbidity and mortality in infants from rare and serious inherited disorders has grown considerably.

Growing number of cases in sickle cell anemia has intensified the need for improving conventional screening methods. Healthcare providers in collaboration with governments are keenly expanding the ambit of newborn screening programs as well as stressing on timely screening. Healthcare systems in countries such as in Europe and Africa have promoted regulations that can spur the momentum of uptake of screening programs, observed by analysts in a report survey on newborn screening market.

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Increasing integration of screening programs with pediatric health is likely to boost parents to seek follow-up information for screened conditions. All these trends reinforce the vast potential to change the newborn screening market contours. By the end of the forecast period of 2021 – 2031, the valuation will climb to reach US$ 3.3 Bn.

Key Findings of Newborn Screening Market Study

• Hospitals Offers Newborn Screening Programs: Hospitals have been at the forefront of raising awareness about the role of newborn screening programs in advancing long-term health of the child. This has spurred the sales of screening tools and instruments. Public health agencies are intent on increasing the availability of such tests in care centers and hospitals, which will bolster the uptake of an array of screening assays in pediatric care.
• Screening for Rare Disease to Guide Policy Intervention: Rare conditions such as inborn errors of metabolism (IEMs) have gained wide attention in newborn screening programs. Healthcare providers have been focusing on boosting screening uptake for rare and serious inherited disorders, as the screening is viewed as potentially effective to manage rare birth defects. This aside, genetic diseases have also attracted the attention of public health agencies, thus expanding the canvas for diagnostics companies in the newborn screening market.
• R&D in Diagnostic Medical Technologies Spurs Growth: The introduction of point-of-care tools for newborn screening has unlocked a new avenue for all stakeholders in the market. The penetration is expected to increase remarkable over the years. Numerous economies are keenly adopting advanced diagnostic medical technologies for pediatric care. In particular, the demand for advanced assays for critical congenital heart defects is likely to spur potentially lucrative avenues.

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Newborn Screening Market: Drivers

• Growing government support to reduce the morbidity of critical congenital heart defects as evident in the policy recommendations is a key trend
• Advances in healthcare industry are key to expanding prospects for comprehensive newborn screening programs, notably focusing on long-term health
• Expanding array of technologies and their reducing cost are expanding the valuation of newborn screening market players

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Newborn Screening Market: Regional Growth Dynamics

• In 2019, North America and Europe emerged as prominently lucrative markets in the global newborn screening market
• Asia Pacific has vast latent opportunities waiting to be utilized
• Extensive efforts by healthcare providers to improve newborn care, especially in emerging economies, will fuel the growth through 2031
• Rise in birth rate, coupled with growing awareness about importance of newborn screening, has propelled uptake of tests in the aforementioned regional market

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Newborn Screening Market: Competitive Dynamics

The presence of a large number of players make the newborn screening market landscape fragmented. Some of the well-entrenched players in the market are

• Masimo
• Baebies, Inc.
• ZenTech S.A.
• Bio-Rad Laboratories, Inc.
• Thermo Fisher Scientific, Inc.
• Medtronic Plc
• Natus Medical Incorporated
• Trivitron Healthcare

Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:

Pediatric Health Care Products and Services Market: Launch of new drugs by pharmaceutical companies for pediatric patients and increase in focus by global research bodies on the development of new and improved drugs for children are expected to drive the pediatric therapeutics market during the forecast period. Rise in prevalence of diseases and disorders such as allergies, asthma, mental disorders, diabetes, infectious diseases among children and increase in awareness regarding these diseases among parents boost the market.

Pediatric Radiology Market: Robust healthcare infrastructure in the US, dense presence of medical device manufacturers and high spending of pediatric care will continue to drive the adoption of pediatric radiology in North America. By the end of 2026, North America's pediatric radiology market will be worth one-third of global market value forecasted in the report.

About Us

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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