San Francisco, Sept. 2, 2015 (GLOBE NEWSWIRE) -- The global newborn screening market is expected to reach USD 1.43 billion by 2022, according to a new report by Grand View Research Inc. Increasing occurrence of congenital disorders that lead to mental retardation or dysfunctioning body organs and the availability of advanced screening technologies are expected to drive market growth over the forecast period.
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Furthermore, the market is expected to witness a boost in demand owing to, the presence of Federal Bodies involved in organizing awareness and quality assurance programs to imbibe faith and decrease the number of deaths caused due to negligence & non-screening. For instance, in 2011, the Ministry of Health, Japan recommended the use of mass spectrometry in newborn screening and by 2014, the entire nation started utilizing it for 19 critical conditions.
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Further key findings from the report suggest:
- Tandem mass spectroscopy is expected to account for over 25% of newborn screening market share by 2022, owing to its ability to render faster diagnosis and cost effectiveness.
- Pulse oximetry is expected to witness gains of over 9.0% over the forecast period. Masimo's Eve software and Radical-7 oximeter gained CE marking in 2014 leading to a growth in demand supported by quality assurance and better analysis.
- Dry blood spot test is expected to witness lucrative growth over the forecast period. Free distribution of filter paper by government is expected to boost the primary screening of all newborns, thereby, accelerating market growth.
- Presently, 100% screening of over 4 million neonates is carried out in the North America annually. Encouraging efforts to prevent long term disabilities by healthcare providers and government agencies are some vital factors influencing regional market growth. Presence of favorable reimbursement policies reduces the burden of treatment cost, thereby, promoting higher procedure volumes
- Asia Pacific newborn screening market is expected to witness the fastest growth of over 11.0% during the forecast period. This growth is attributed to the presence of large untapped opportunities, rising healthcare expenditure levels, increasing disease prevalence rate, and the introduction of supportive government initiatives.
- Some key players of this market include Agilent Technologies Inc., AB Sciex LLC, Natus Medical Inc., PerkinElmer Inc., Covidien Plc, Masimo Corp., Trivitron Healthcare, Bio-Rad Laboratories Inc. GE Healthcare and Waters Corp.
- Market participants are constantly engaged in developing technologically advanced products in an attempt to improve presence and ensure sustainability. PerkinElmer's "EnLite Neonatal TREC Kit" gained FDA approval in 2014 for the diagnosis and treatment of Severe Combined Immunodeficiency Disease (SCID) leading to replacement of non-approved tests in certain states of the U.S.
- Over 20 states along with the Navajo Nation and the District of Columbia have put screening programs into practice for the same.
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Grand View Research has segmented the global newborn screening market on the basis of product, technology, test type and region:
Product Outlook (Revenue, USD Million, 2012 - 2022)
- Reagents & Assay Kits
Technology Outlook (Revenue, USD Million, 2012 - 2022)
- Tandem Mass Spectrometry
- Pulse Oximetry
- Enzyme Based Assays
- DNA Assays
Test Outlook (Revenue, USD Million, 2012 - 2022)
- Dry Blood Spot Test
- Critical Congenital Heart Disease (CCHD)
- Hearing Screen
Regional Outlook (Revenue, USD Million, 2012 - 2022)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa (MEA)
- South Africa
- Rest of Middle East and Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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Source:Grand View Research