The global non-invasive prenatal testing (NIPT) market is likely to witness an immensely competitive scenario in the coming years, states Transparency Market Research (TMR).
Albany, NY -- (SBWIRE) -- 10/11/2017 -- The report also states that the companies are expected to plan mergers, collaborations, and acquisitions looking at the scope of growth in the market. Firms are expecting to experience rise in shares, global reach, by extending their product offerings, and exploring their operations.
In 2015, Roche Diagnostics collaborated with Human Longevity to experiment whole-genome sequencing that contributed to study patient's samples on the basis of genetic segments and come up with the new solutions and therapies. Apart these, Sequenom Inc., Berry Genomics Co. Ltd., Illumina Inc., Laboratory Corporation of America Holdings, LifeCodexx AG, Natera Inc., Ariosa Diagnostics Inc., and BGI Diagnostics, are some of the key players in the global NIPT market. Similarly, other companies in Asia-Pacific region are also getting into expansion owing to high scope of profit and attain a global reach.
According to a TMR analyst, "In 2013, the global market for non-invasive prenatal market was worth US$0.5 bn. This figure is anticipated to rise to a revenue of US$2.38 bn by the end of 2022, with a significantly growing CAGR of 17.50% from 2014 to 2022." On the basis of type, the segment is estimated to be led by NIFTY, Verifi, Bambni, Panorama that are being estimated to emerge stronger than before in the market, replacing the former leader. In 2013, MaterniT20 PLUS segment held the maximum shares of 36.1% in the global market for NIPT.
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Various firms and laboratories are getting into distribution agreement with test providers in order to present latest technological innovations in the form of products and services, both. This collaboration is acting as catalyst to the market growth of non-invasive prenatal testing. Another major driving factor for the rise of NIPT market is that many firms and public health agencies are anticipated to offer the test facilities directly to its patient and consumers. This also fuels the adoption of the technology on global scale and growth in revenue, as more and more population is getting awareness about the available tests.
Companies are focusing on developing their research strategies and developing efficient solutions in non-invasive prenatal testing market. The key players in the market are coming up with innovations and techniques to sustain their position and in order to have an edge over their competitors in the market. With the usage of advanced technology vendors are capitalizing the opportunities by developing more accurate tests and efficient results.
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Among all the properties of non-invasive prenatal testing, the significant ones such as safety, precision, and its non-invasive nature are the major contributing factor for its demand in the global market. It is one of the most preferred techniques among the medical professionals and expecting mothers as it allegedly reduces the risk of miscarriages and safely detects the chromosomal abnormalities along with the sex determination of the fetus.
Moreover, owing to high occurrence of babies born with down syndrome, the demand for NIPT rises in the market. Another fueling factor for the increase in the demand for non-invasive prenatal testing is that as per the research conducted, the conventional therapies and diagnostic tests such as amniocentesis, and chorionic villus sampling (CVS) include higher possibilities of miscarriages. Besides, there has been a noticeable shift towards conceiving babies at older age and thus to avoid the risk of miscarriages and abnormalities, NIPT is preferred more over other tests due to its significant properties.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.