Newborn Screening Market Untapped Growth Opportunities by Key Players- PerkinElmer, Inc., ZenTech, etc

According to this latest publication from Meticulous Research^®, the global Newborn Screening Market is projected to reach $2.07 billion by 2029, at a CAGR of 8.9%. The factors driving the market are the rise in preterm births, high birth rates, and the rising supportive initiatives for newborn screening.

Newborn Screening Market: Future Outlook

The global newborn screening market is segmented by product (consumables {assays kits & reagents, other consumables}, instruments), technology (immune assays & enzymatic assays, tandem mass spectrometry, molecular assays, hearing screening technologies, pulse oximetry, other technologies), application (congenital heart disease, inherited disorders {metabolic disorders, endocrine disorders, hemoglobin disorders, and other inherited disorders}, infectious diseases, hearing disorders, and other applications), end user (hospitals, diagnostic laboratories, maternity & specialty clinics, and other end users), and geography. The study also evaluates industry competitors and analyzes their market share at the global and regional levels.

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Based on product, in 2022, the consumables segment is expected to account for the largest share of the market. The recurring demand for consumables compared to instruments, the availability of diverse kits for newborn screening, and the increase in the number of parents opting for newborn screening are some of the factors supporting the largest share of this segment.

Based on technology, in 2022, the immunoassays & enzymatic assays segment is expected to account for the largest share of the market. The large market share of this segment is attributed to the extensive use of immunoassays for screening a wide variety of disorders in newborns. Immunoassays provide a simple, fast, and cost-effective detection method, ensuring sensitivity and specificity.

Based on application, in 2022, the inherited disorders segment is expected to account for the largest share of the market. The large market share of this segment is attributed to the high prevalence of inherited diseases in newborns, variations or mutations in the genes, inherited gene defects, and abnormality in genetic composition.

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Key Players

The key players operating in the global newborn screening market are Thermo Fisher Scientific Inc. (U.S.), General Electric Company (U.S.), Natus Medical Incorporated (U.S.), PerkinElmer, Inc. (U.S.), Medtronic plc (Ireland), Trivitron Healthcare (India), Bio-Rad Laboratories, Inc. (U.S.), Demant A/S (Denmark), Baebies, Inc. (U.S.), and ZenTech (Belgium).

Based on end user, in 2022, the hospitals segment is expected to account for the largest share of the market. The advanced healthcare infrastructure and equipment in hospitals and the high number of childbirths in hospitals are expected to contribute to this segment's large market share.

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Rest of Latin America) and the Middle East & Africa.

In 2022, North America is expected to account for the largest share of the newborn screening market, followed by Europe. However, Asia Pacific is slated to register the largest CAGR during the forecast period. The growth of this market is primarily driven by the advancing healthcare infrastructure, supportive government initiatives, and higher birth rates.

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 Key questions answered in the report-

·  Which are the high-growth market segments in terms of product, technology, application, end user and regions/countries?

·  What was the historical market for newborn screening across the globe?

·  What are the market forecasts and estimates for the period 2022–2029?

·  What are the major drivers, restraints, challenges, opportunities, and trends in the global market of newborn screening Market?

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