Newborn Screening Market 2022 Growing Demand and Business Outlook 2029
Posted by aartimurkute on January 30th, 2023
The newborn screening test helps in diagnosing rare diseases in newborns, facilitating early treatment. A steady rise in birth rate coupled with rising incidence of serious health disorders among newborns has amplified the demand for newborn screening around the world. Introduction of favourable government programs & legislations is contributing to the demand for newborn screening. Rise in disposable income and provided affordability is making newborn screening more accessible. These aspects, coupled with cutting-edge developments in the health screening domain have propelled significant growth across the global newbron screening market. Besides, parents have become more conscious of the health of their infants further accelerating the pace of market expansion. All these trends hint at the presence of lucrative business possibilities in the global newborn screening market, over the forecast period.
For More Industry Insight Read: https://www.fairfieldmarketresearch.com/report/newborn-screening-market
An Upswing in Health Disorders to Facilitate Newborn Screening Market Expansion
As people are becoming more informed of the health benefits associated with newborn screening, the demand has also mounted at a significant rate. Some of the most prominent newborn screening tests include tests for metabolic disorders, haemoglobin (red blood cell) conditions, hormone (endocrine) disorders, and immune system disorders. Besides, other rare conditions such as Pompe disease, cystic fibrosis, spinal muscular atrophy and X-linked adrenoleukodystrophy are also being significantly diagnosed. An incessant rise in such serious health conditions among infants is creating substantial demand for newborn screening at a global level. Uptick in demand and prevailing serious health disorders are likely to place newborn screening market on a sound growth trajectory.
Growing Incidence of Congenital Heart Abnormalities to Create Significant Growth Prospects for Newborn Screening Market
The rising cases of congenital heart abnormalities including tricuspid atresia and pulmonary atresia globally are driving the newborn screening market. Critical congenital heart defects are the most serious congenital heart defects and newborns with critical CHDs require surgery or other treatment within the first year of their life. Therefore, healthcare experts are advocating and supporting the need for more sophisticated screening tools. Furthermore, medical advancements that include ongoing drug discovery, government and non-government organisational initiatives have promoted awareness regarding congenital heart abnormalities. Considering these factors, the global newborn screening market is set to register fruitful outcomes in revenue generation and business expansion.
North America to Emerge as Key Region Owing to Favourable Reimbursement Policies
The growing prevalence of congenital disorders and mandatory testing in all states are key factors cementing North America as a key revenue generator in the global newborn screening market. In addition to this, the advancements in healthcare infrastructure are projected to bode well for the market. Other factors boosting the growth of the regional market include favourable reimbursement policies and the available newborn screening programs. The cumulative force of these factors is projected to unlock new revenue opportunities for the newborn screening market in North America.
Leading Market Players
Some of the global players in the newborn screening market include Trivitron Healthcare (India), PerkinElmer (US), Natus Medical (US), Danaher Corporation (US), Demant A/S (Denmark), Bio-Rad Laboratories (US), Chromsystems Instruments & Chemicals GmbH (Germany), and Baebies (US), Medtronic (Ireland), and Recipe Chemicals+Instruments (Germany).
For More Information Visit: https://www.fairfieldmarketresearch.com/report/newborn-screening-market
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Joined: January 21st, 2021
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