Prenatal and Newborn Genetic Testing Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

The Business Research Company’s Prenatal and Newborn Genetic Testing Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 27, 2024 /EINPresswire.com/ -- The prenatal and newborn genetic testing market has experienced rapid growth, increasing from $5.87 billion in 2023 to an anticipated $6.68 billion in 2024 at a CAGR of 13.9%, driven by advancements in non-invasive prenatal testing, increased maternal age, government support, and patient demand for early detection. This market is projected to reach $10.7 billion by 2028 at a CAGR of 12.5%, fueled by expanded genetic test panels, rising maternal health awareness, updated screening guidelines, focus on rare diseases, and ethical considerations. Key trends include non-invasive prenatal testing (NIPT), genome and whole exome sequencing, AI integration, preimplantation genetic testing (PGT), and direct-to-consumer genetic testing.

Rising Incidence of Genetic Disorders Fuels Market Growth
A significant factor propelling the prenatal and newborn genetic testing market is the escalating incidence of genetic disorders. These conditions, arising from anomalies or mutations in an individual’s genetic makeup, can now be identified early through advanced genetic screening technologies. According to the Centers for Disease Control and Prevention (CDC), congenital disabilities affect approximately 3% of all babies born in the United States annually, underlining the critical need for early detection and intervention strategies.

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Key Players and Market Trends
Major players such as F. Hoffmann-La Roche AG, Novartis AG, and Thermo Fisher Scientific Inc. are driving innovation in genetic testing. These companies focus on developing non-invasive screening tests that offer enhanced accessibility and affordability, ensuring reliable services for customers worldwide.
In a notable development, Juno Diagnostics Inc. launched Juno Hazel in November 2022—a non-invasive prenatal screening test designed to detect chromosomal abnormalities. This advancement eliminates the need for traditional blood draws, thereby improving patient accessibility and experience.

Segments of the Prenatal and Newborn Genetic Testing Market
The prenatal and newborn genetic testing market covered in this report is segmented –
1) By Product Type: Consumables, Instruments
2) By Screening: Non-Invasive Prenatal Testing, Chronic Villus Sampling, Amniocentesis, Maternal Serum Screening, Other Screenings
3) By Disease: Down Syndrome, Phenylketonuria, Cystic Fibrosis, Sickle Cell Anemia
4) By End User: Hospital, Maternity And Specialty Clinics, Diagnostic Centers

Geographical Insights: North America Leading, Asia-Pacific Emerging
In 2023, North America dominated the prenatal and newborn genetic testing market, driven by advanced healthcare infrastructure and high adoption rates of genetic screening technologies. Conversely, Asia-Pacific is anticipated to emerge as the fastest-growing region during the forecast period, owing to increasing healthcare expenditures and rising awareness of prenatal care and genetic screenings.

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Prenatal And Newborn Genetic Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Prenatal And Newborn Genetic Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on prenatal and newborn genetic testing market size, prenatal and newborn genetic testing market drivers and trends, prenatal and newborn genetic testing market major players, competitors' revenues, market positioning, and market growth across geographies. The prenatal and newborn genetic testing market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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