July 05, 2022 06:50 ET | Source: Vantage Market Research Vantage Market Research

WASHINGTON, July 05, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Newborn Screening Market finds that increased neonatal population, awareness of the separate specialty for newborns, rapid adoption of minimally and non-invasive Newborn Screening Market procedures, and favorable health reimbursement are anticipated to fuel the growth of the Newborn Screening Market during the forecast years. In addition, the increased prevalence of congenital cardiac diseases and genetic abnormalities among infants are likely to augment the growth of the Newborn Screening Market in upcoming years. The Global Newborn Screening Market revenue is expected to reach a value USD 1164 Million in the year 2028.

The Global Market revenue was valued at USD 729.5 Million in the year 2021 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 8.1% during the forecast period; states Vantage Market Research, in a report, titled “Newborn Screening Market Size, Share & Trends Analysis Report by Product (Consumables, Instruments, Hearing Screening Instruments, Pulse Oximeters), by Test (Dry Blood Spot Tests, Hearing Screening Test, CCHD Screening Test), by Technology (Immune Assays & Enzymatic Assays, Tandem Mass Spectrometry, Molecular Assays, Hearing Screening Technologies), by End User (Clinical Laboratories, Hospitals), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

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Key Insights & Findings from the Report:

Growing Prevalence of Newborn Disorders

Infant sickness has been more common in recent years, prompting healthcare providers to raise awareness and support the demand for improved screening methods. Hearing, metabolic and hormonal abnormalities, and significant congenital heart disease are the most prevalent neonatal diseases, all of which can be treated if caught early. A total of 12,900 newborns are expected to be diagnosed with an illness each year. According to the same source, the most prevalent disorders include hearing loss (16.5 per 10,000), congenital hypothyroidism (6.0 per 10,000), sickle-cell disease (4.9 per 10,000), and cystic fibrosis (1.8 per 10,000). Thus, it is expected that the rapid increase of disorders in newborns will lead to the future growth of the Newborn Screening Market.

Rising Government Support for Newborn Screening Market and Advancements in Screening Technology Drives the Market

Asia-Pacific (APAC) ranks the highest in the birth rate in the world, about half of the rest of the world, and the Newborn Screening Market is rapidly gaining ground. As a result, governments in the Asia Pacific area are concentrating their efforts on various initiatives to discuss and find answers to the rising incidence of newborn illnesses. The union territories and organizations in India are implementing different practices and innovations to address challenges in the maternal & child health sector. For instance, the world works toward universal health coverage, and countries work toward the maternal, reproductive, newborn, child, & adolescent health (RMNCH+A) program.

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Segmentation of the Global Newborn Screening Market:

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The COVID-19 outbreak has affected various industries worldwide. Governments worldwide implemented strict lockdown measures and social distancing norms to restrict the effect of the pandemic. Manufacturing facilities worldwide were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Newborn Screening Market industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

The Report on Newborn Screening Market Highlights:

North America Anticipated Potential Market Growth

North America is expected to dominate the growth of the Newborn Screening Market in 2021, owing to the rapid implementation of non-invasive newborn techniques, favorable health reimbursement, and an increase in the prevalence of preterm deliveries. The Newborn Screening Market in Europe is expected to grow due to proactive government measures and more outstanding government efforts to ensure child health. Because of the increased prevalence of genetic abnormalities and the rising number of childbirths, Asia Pacific is expected to rise rapidly in the worldwide Newborn Screening Market. During the projected period, the Newborn Screening Market in Latin America, the Middle East, and Africa is expected to rise due to growing healthcare infrastructure, technological improvements, and increased awareness about Newborn Screening Market.

Browse market data Tables and Figures spread through 143 Pages and in-depth TOC on "Newborn Screening Market Size, Share & Trends Analysis Report by Product (Consumables, Instruments, Hearing Screening Instruments, Pulse Oximeters), by Test (Dry Blood Spot Tests, Hearing Screening Test, CCHD Screening Test), by Technology (Immune Assays & Enzymatic Assays, Tandem Mass Spectrometry, Molecular Assays, Hearing Screening Technologies), by End User (Clinical Laboratories, Hospitals), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".

List of Prominent Players in the Newborn Screening Market:

September 2020: EONIS, a screening assay designed to screen neonates for SMA (spinal muscular atrophy), SCID (severe combined immunodeficiency), and XLA (X-linked agammaglobulinemia), has received CE-IVD clearance from PerkinElmer (US).

December 2019: The US FDA has approved PerkinElmer's GSP Neonatal Creatine Kinase –MM (CK-MM) kit for screening new-borns with Duchenne muscular dystrophy (DMD)

February 2019: Baby Genes, Inc. water expands. Expand its product portfolio, including Newborn Screening Market tests for spinal muscular atrophy, fragile X syndrome, and cystic fibrosis.

Key questions answered in the report:

This market, titled “Newborn Screening Market” will cover complete information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others, as mentioned below:

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