Launch of NIPT tests in a highly underpenetrated market representing more than 60,000 high risk pregnancies, has created an unprecedented demand for these tests in Australia, says RNCOS.
Noida, UP -- (SBWIRE) -- 01/31/2014 -- According to a new research report by RNCOS entitled, “Emerging NIPT Market in Asia Pacific”, Australia represents a market with tremendous possibilities for growth. In an otherwise debilitating market of medical devices, NIPT has emerged as a niche sector with immense growth forecasts. It is estimated that the market which has recently witnessed the entry of five players, is expected to grow at an astounding CAGR of around 64% during 2013-2018.
The main driver for this growth is the popularity of these tests among the high risk pregnant women in Australia. Our study reveals that the popularity of NIPT tests in Australia is so high that even when the tests were not officially launched in the country, women at high risk of having a baby with chromosomal abnormality were making all the efforts to get themselves tested from players based in the US. Around 164,000 women aged above 30 in Australia gave birth in 2011 and this figure is not expected to change much by 2018. These 164,000 plus women represent the potential customer base which is likely to buy a NIPT test to assure themselves about the normalcy of the genetic status of their fetus. Of these, around 68,400 women fall under the high risk group of 35 years and above. These women represent the consumers that are most likely to buy a NIPT test during pregnancy.
Currently all the players follow a similar business model wherein they have formed alliances with Australia based pathology labs. These labs collect the blood sample and ship it to the player’s base country, where the sample is tested in the lab. Once the results are generated, they are sent back to the pathology lab that communicates it to the patient. The whole process takes around 14 days. The tests costs vary between US$ 800 – US$ 1,500. Since these costs are not covered under insurance, they are borne out-of-pocket by patients. Under such a scenario, a player that realigns its operations such that the tests are performed in the country itself will gain the first mover’s advantage. It will be able to deliver the test results faster and at a more competitive price, skewing the consumer’s preference in its favor.
The report provides an in-depth analysis of the current market scenario and expected outlook by 2018. Regions covered in the report include Australia, India, Japan, China and Singapore. Each region’s data coverage include the number of births, analysis of potential patient population that will form the customer base for NIPT tests, potential market, market size, forecasts, competitive landscape and regulatory scenario. The report is an outcome of the in-depth analysis of insights generated through interviews with industry leaders and regulatory experts. All the data has been collated through various sources to present the most authentic and impartial picture. It is a must buy for any player that wishes to enter the highly lucrative APAC NIPT market.
For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM646.htm
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.