The Newborn Metabolic Screening Market will attend a 9.2% CAGR, reaching 247 million US dollars Between 2020 to 2030. With medical IoT involving the use of portable monitors, devices and various integrated applications regarding healthcare needs, the healthcare vertical is set to reach new heights in the coming period. This is what the health care vertical would look like in the next 10 years.
Rising birth rates around the world are expected to boost demand for metabolic screening in newborns as the risk of galactosemia, sickle cell anemia, phenylketonuria, maple syrup urinary disease and cystic fibrosis is higher in infants. Various countries are implementing newborn screening for metabolic diseases as part of their immunization programs. To stay competitive and ensure a strong product portfolio, leading companies continue to identify potential assets through pilot breeding programs, which typically have limited resources to bring projects to market.
According to a latest report published by Persistence Market Research, the Global Newborn Metabolic Screening Market was valued around US $ 247 million in 2020, and should attend an impressive CAGR of over 9% during the forecast period (2020 – 2030).
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Companies Covered by the Newborn Metabolic Screening Market Report
- Bio-Rad Laboratories
- Trivitron Private Health Limited
- BioMedics, Inc.
- Luminex Company
- MP BIOMEDICAL
- Synergy Medical Systems LLP
- Agilent Technologies, Inc
- Thermo Fisher Scientific, Inc
- Zivak Technologies
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Key points of the market research
- Sickle cell disease is expected to contribute over 30% of the market revenue share.
- By sample, blood tests held the highest market share in 2019 due to effective diagnostic results.
- Europe has a significant share of over 30% in the global market for metabolic screening of newborns.
- Major manufacturers are focused on strengthening their product portfolios and regional expansion through collaborations.
- Hospitals are expected to hold a significant market share, due to the high number of screening programs organized in collaboration with hospitals.
- The COVID-19 outbreak has negatively impacted the market as short-term lockdowns disrupted the production and supply chain of the kits.
- The US market is expected to grow at a CAGR of nearly 10% through 2030.
- The UK market holds a share of over 17% in Europe and is expected to grow at a CAGR of over 12% over the next ten years.
“The increasing prevalence of metabolic diseases in newborns and the increasing adoption of a related screening program will drive the global market”, says a Persistence Market Research analyst.
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Collaborations and acquisitions Key strategies among market players
The major players in the neonatal metabolic screening landscape are focused on improving their product portfolios through partnerships and acquisitions. Various players are also focusing on regulatory approvals and innovative product launches.
- On October 5, 2020, PerkinElmer announced CE-IVD approval of the EONIS ™ Newborn Screening Test.
- In October 2018, Trivitron’s Labsystems Diagnostics launched high-quality newborn screening panels.
- On September 3, 2020, Sickle SCAN® was approved by the Department of Health in Australia.
What does the report cover?
Persistence Market Research provides a unique perspective and actionable insights into the Metabolic Newborn Screening market in its latest study, presenting a historical assessment of 2015-2019 demand and projections for 2020-2030, based on testing (galactosemia, sickle cell anemia, cystic fibrosis, toxoplasmosis, phenylketonuria (PKU), methylmalonic acidemia, maple syrup urinalysis (MSUD), tyrosinemia, citrullinemia and medium chain Acyl CoA dehydrogenase (MCAD) deficiency, sample (blood and urine) ) and end user (diagnostic laboratories, clinical specialties and hospitals), in seven key regions of the world.
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Keywords: Neonatal Metabolic Screening Market Analysis, Neonatal Metabolic Screening Market Growth, Neonatal Metabolic Screening Market Share, Neonatal Metabolic Screening Market Forecast, Market Demand metabolic screening of newborns, development of the metabolic screening of newborns market
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