Albany, NY -- (SBWIRE) -- 11/24/2017 -- The global prenatal and newborn genetic testing market is progressing at a CAGR of 26.9% within a forecast period of 2013 to 2019. The market was valued at US$1.20 bn in 2012. By the end of 2019, this market will be valued at US$8.37 bn, according to a research report released by Transparency Market Research. The report is titled "Prenatal and New-born Genetic Testing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," and provides an estimate for the market's future using time-tested methods for market analysis. The report is available for sale on the company website, and offers key details on the market through a segmented manner of research.
Prenatal and newborn genetic testing refers to the use of a certain set of screening procedures that can detect abnormalities in the chromosomes of a child or a fetus. The tests can be used in 8 to 10 weeks of gestation. They can help detect genetic diseases such as Edward Syndrome, Patau Syndrome, and Down syndrome.
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According to the report, the global prenatal and newborn genetic testing market is primarily driven by the high number of women opting for late childbirth. This increase in the average maternal age as well as late pregnancies is boosting the global prenatal and newborn genetic testing market to adopt faster and more efficient technologies. Another driver for this market is the increasing rate of awareness among individuals regarding the benefits of conducting prenatal genetic testing. The global prenatal and newborn genetic testing market can successfully help a parent detect whether their newborn or a fetus has any genetic disorders.
There is a subtle increase in the number of newborns being diagnosed with genetic defects. This is causing expectant mothers to opt for genetic testing early on in order to diagnose and cure any such defects. The Northwestern Medical Faculty Foundation had previously stated that a majority of women, both with newborns and those who are pregnant, are choosing genetic screening of their fetus or child in the United States.
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The report provides details on the global prenatal and newborn genetic testing market with a segmented approach, with technology and geography being the key criteria. In terms of diagnostic tests, a sub-segment of technology, the global prenatal and newborn genetic testing market was led by PCR in 2012, owing to its high rate of success, procedural simplicity, and accuracy.
The other sub-segment of technology is screening tests, and it was led by NIPT in 2012. NIPT is also expected to be the fastest-growing segment for the given forecast period – a 37.60% CAGR between 2013 and 2019.
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Geographically speaking, the global prenatal and newborn genetic testing market was led by North America in 2013 owing to the high popularity of NIPT as it is noninvasive. At the same time, a rapidly growing rate of awareness in Asia Pacific has helped this region achieve the fastest growth rate in the market for the given forecast period.
Key players in the global prenatal and newborn genetic testing market are Sequenom, Inc., PerkinElmer, Inc., Natera, Inc., Laboratory Corporation of America Holdings, Illumina, Inc., Bio-Rad Laboratories, Inc., Ariosa Diagnostics, Inc., and Agilent Technologies, Inc.
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