The newborn screening industry was valued at US$1,026.817 million in 2022 and is expected to grow at a CAGR of 8.31% during the forecast period.
— Knowledge Sourcing Intelligence
NOIDA, UTTAR PRADESH, INDIA, February 9, 2024 /EINPresswire.com/ — According to a new report published by Knowledge Sourcing Intelligence, forecasted between 2022 and 2029, the newborn screening market was valued at US$1,026.817 million in 2022 and is anticipated to grow at a CAGR of 8.31%.
Newborn screening plays an important role in identifying and treating neonatal diseases, significantly improving healthcare outcomes for newborns. The increasing number of newborns and the growing prevalence of neonatal disease are the major driving forces behind the growth of the newborn screening market. For instance, according to the United States Census Bureau, between 2022-2023, the projected world population was 7,942,645,086 an increase of 73,772,634 or 0.94% from New Year’s Day 2022. Additionally, according to UNICEF data, in 2021, globally 2.3 million children died in their first month of life which equates to approximately 6,400 neonatal deaths per day.
Newborn screening is a crucial medical procedure performed after a baby is born. It entails genetic testing, metabolic, and developmental disorders that may not cause immediate symptoms but can result in serious health problems in newborns if left untreated. In addition, increasing government initiatives are driving the growth of the newborn screening market.
Numerous product launches and innovations are taking place in the market, accelerating the growth of the newborn screening market. For instance, in September 2023, Mylab Discovery Solutions announced a significant advancement in newborn screening with the launch of its patent-pending Point-of-Care Device, MyNeoShield for newborn screening which is set to transform the landscape of newborn healthcare by making screening faster, more accessible, and less expensive, ultimately saving lives. Additionally, in June 2022, Rady Children’s Institute for Genomic Medicine (RCIGM) launched BeginNGS, a diagnostic and precision medicine guidance tool that screens newborns for 400 genetic diseases.
Access sample report or view details: https://www.knowledge-sourcing.com/report/newborn-screening-market
The newborn screening market, based on technology is segmented into five main categories namely immune assays & enzymatic assays, tandem mass spectrometry, molecular assays, hearing screening technologies, and others. Molecular Assays technology accounts for a major share of the newborn screening market as the technology is widely used in newborn screening due to its high accuracy, speed, and efficiency. It enables healthcare professionals to detect genetic disorders and metabolic conditions in infants more accurately than traditional screening methods and analyse the genetic material within an infant’s cells, which can identify specific genetic markers associated with various conditions.
The newborn screening market, based on tests is segmented into three main categories namely dry blood spot tests, hearing screening tests, and CCHD screening tests. The dry blood spot test account for a significant share in the newborn screening market as it is widely used for analysing genetic, metabolic, and hormonal issues. The dried blood spot test is quick, inexpensive, and can detect conditions that are not evident at birth.
The newborn screening market, based on end-users is segmented into two main categories namely clinical laboratories, and hospitals. Newborn screening is widely used in hospitals as it entails administering to identify potential diseases or disorders in newborn that may not cause immediate symptoms. Hospitals are outfitted with cutting-edge equipment to conduct these screenings efficiently and accurately, ensuring newborn health through early detection and intervention strategies and account for a major share of the newborn screening market.
North America is projected to account for a significant share of the newborn screening market due to the increasing prevalence of neonatal disease in the major countries in the region. For instance, according to the Centers for Disease Control and Prevention, in 2022, the infant mortality rate in the United States was 5.60 deaths per 1,000 live births, a 3% increase from 5.44 in 2021 and the post neonatal mortality rate of 4% from 1.95 to 2.02. Additionally, according to the United States Census Bureau, In January 2023, the United States witnessed 1 birth every 9 seconds driving the newborn screening market.
The research includes coverage of Perkin Elmer, Trivitron Healthcare, LifeCell International, Bio-Rad, Apollo Cradle, Nemours Children’s Health, March for Dimes, Cure SMA, and Igenomix India are significant market players in the newborn screening market.
The market analytics report segments the newborn screening market as follows:
• By Technology
o Immune Assays & Enzymatic Assays
o Tandem Mass Spectrometry
o Molecular Assays
o Hearing Screening Technologies
• By Test
o Dry Blood Spot Tests
o Hearing Screening Tests
o CCHD Screening Tests
• By End-User
o Clinical Laboratories
• By Geography
o North America
• United States
o South America
• United Kingdom
o Middle East and Africa
• Saudi Arabia
o Asia Pacific
• South Korea
• Perkin Elmer
• Trivitron Healthcare
• LifeCell International
• Apollo Cradle
• Nemours Children’s Health
• March for Dimes
• Cure SMA
• Igenomix India
Explore More Reports:
• Population Health Management Market: https://www.knowledge-sourcing.com/report/population-health-management-market
• Colorectal Cancer Screening Market: https://www.knowledge-sourcing.com/report/colorectal-cancer-screening-market
• Global Immunoassay Market: https://www.knowledge-sourcing.com/report/global-immunoassay-market