Transparency Market Research has published a new report "Genetic Testing Market (Prenatal and New-born): Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013-2019" to its report store.
Albany, NY -- (SBWIRE) -- 07/07/2015 -- In its latest report published recently, U.S.-based market research firm Transparency Market Research estimates the global market for Prenatal and Newborn Genetic Testing to be worth USD 8.37 billion by 2019. This report also projects the CAGR of this industry be 26.9% over the forecast period.
The report, titled 'Prenatal and Newborn Genetic Testing Market (PCR, FISH, aCGH, NIPT and MSS): Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019' offers comprehensive insights into the global market based on the growth potential of key testing procedures, the geographical markets for the same, and factors propelling this market ahead.
According to the study, the total market for newborn and prenatal genetic testing was valued at USD 1.12 billion in as of 2012, and the growth estimates show that it is poised for exponential growth in the coming years.
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Prenatal and newborn genetic testing employs the use of diagnostic or screening techniques to detect chromosomal abnormalities in a new born baby or a fetus. These abnormalities include: Edward syndrome, Down syndrome, and Patau syndrome. With the effective use of such screening and testing procedures, it is possible to detect certain types of genetic abnormalities early on in the gestation period (as early as eight to ten weeks), besides determining the sex of the fetus.
There is a growing awareness among pregnant women to undergo such screening and testing procedures so as to ensure a healthy future for their offspring. The Northwestern Medical Faculty Foundation states that nearly 85% pregnant women are advised to undergo screening or testing for birth defects such as trisomy 18, open neural tube defects, and Down syndrome.
Additionally, there are a number of other tests that allow medical practitioners to determine defects such as trisomy 13 and other chromosome abnormalities.
The report classifies newborn and prenatal genetic tests into two major categories: screening tests and diagnostic tests. While the former helps detect the change of specific genetic abnormalities developing in a new born or fetus, the latter is used essentially for confirming the presence of such conditions in a new born or fetus.
Browse the full Prenatal and New-born Genetic Testing Market Press Release @ :
There are multiple factors propelling the growth of the prenatal and newborn genetic testing market. These include: late pregnancies, technological advancements, increase in the maternal age, and a rising awareness pertaining to fetal genetic disorders.
Based on in-depth analyses, the report states that there are several emerging opportunities in this market as it is still regarded as being at a nascent stage. A large potential for developing business opportunities exists in developing countries in Asia, Latin America, and Africa.
The report also comprises an analysis of the market based on diagnostic techniques employed. It notes that the segment of polymerase chain reaction (PCR) constituted the largest share, followed by aCGH and FISH. The report attributes this to the growth in genetic diseases and forensics, besides other advantages of PCR such as high precision and reliability, better process efficiency, and amplification.
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The largest segment within the screening market is that of non-invasive prenatal testing (NIPT), according to the report; this market is projected to witness the highest CAGR of 37.6% between 2013 and 2019.
Furthermore, the report also offers a detailed overview of the global prenatal and newborn genetic testing market by geography. Another section that is of special importance within the report is that of 'Company Profiles' as endeavors to keep market players abreast of important information pertaining to their competitors.
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