Asia Pacific Likely To Grow At a High CAGR In The Global Non-Invasive Prenatal Testing Market
The Global Non-invasive Prenatal Testing Market is expected to witness a CAGR of 17.5% to reach revenue of $4.97 billion by 2025
Bangalore, India, February 26, 2019: With its recently published study “Global Non-invasive Prenatal Testing Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the global non-invasive prenatal testing market will continue to grow, owing to upsurge in the number of newborns with chromosomal disorders due to advanced maternal age and increasing demand for non-invasive procedures for early disease diagnosis. The upsurge in healthcare spending, high growth opportunities in emerging economies, increasing awareness among the public, and an increase in the number of deals are anticipated to support the market growth during the forecast period.
The non-invasive prenatal testing market, by application, is segmented into trisomy, microdeletion syndrome, and other NIPT applications. The trisomy segment occupied the largest share in 2018 and is projected to grow at a high CAGR during the forecast period. Trisomy refers to the abnormality characterized by the existence of an additional chromosome. Down syndrome, Edward syndrome, and Patau syndrome are the three most common forms of trisomy. The rising incidence of chromosomal abnormalities coupled with increased maternal age makes the trisomy segment the major shareholder in the global non-invasive prenatal testing market.
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The global non-invasive prenatal testing market, by region, is segmented into North America, Europe, Asia Pacific, and Rest of the World. North America occupied a significant market share in 2018, and Asia Pacific is anticipated to grow at a high CAGR during the forecast period. Favorable reimbursement policies, presence of prominent vendors, and availability of advanced technologies are fostering the global non-invasive prenatal testing market growth. Further, the increase in the number of newborns with Down syndrome due to late pregnancy will increase the adoption and demand for these tests in the North American region. Growing patient pool, increase in disposable income, and increasing awareness regarding tests makes Asia Pacific the fastest growing region during the forecast period.
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“Non-invasive prenatal testing is currently at a nascent stage in the reproductive health market. A significant number of diagnostic companies are coming up with this technology in recent years through strategic deals to attain a major share in the market. For instance, in May 2018, Myriad Genetics acquired Counsyl to become the leader in the NIPT and hereditary cancer genetics markets. In addition, increasing incidence of chromosomal abnormalities, advanced maternal age, and raising awareness among the public for early diagnosis are expected to provide a better opportunity for the increase in the demand for non-invasive prenatal tests.” – Arpitha Shetty, Research Analyst, Infoholic Research
Key Insights of the Report Include:
- By Applications
- Microdeletion Syndrome
- Other NIPT Applications
- By Regions
- North America
- Asia Pacific
- Rest of the World
- Industry outlook: Market trends, drivers, restraints, and opportunities