Global Newborn Screening Market: Brief Account
The global newborn screening market is anticipated to witness a high growth during the forecast period on account of the increasing occurrence of congenital disorders, which result into mental retardation. Dysfunctioning of organs is another common issue observed among children as a result of congenital disorders. Innovations, advancements, and the availability of advanced screening technologies are boosting the growth of this market. Moreover, initiatives taken by various concerned bodies to increase the awareness level and assurance programs to imbibe faith in the screening of newborn babies will also encourage the growth of this market. Rising incidences of diseases among newborn babies are creating a high concern among parents and this is also driving the newborn screening market.
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Global Newborn Screening Market: Trends and Opportunities
The increased funding and support from governments across nations are expected to play an important role in the contribution towards the growth of the global newborn screening market. Of late the incidence of critical congenital heart defects among babies have increased and this has subsequently led to an increase in the number of parents opting for screening of their newborn babies. The increasing awareness about healthcare and also an increase in the healthcare expenditure will help drive the market.
There are a few challenges faced by the newborn screening market players. A lack of good healthcare infrastructure is one of the key restraints for this market. Socio-economic barriers are impeding the growth of newborn babies market. Also, a lack of trained professionals in some nations is hampering the growth of the market. However, the screening of genetic disorder, next generation sequencing technologies, and digital microfluidics are likely to contribute to the growth of this market.
Global Newborn Screening Market: Geographical Analysis
By region, the global newborn screening market is segmented into Europe, North America, Asia Pacific, and the Rest of the World. Of these, the North American newborn screening market is leading on account of high disposable income of parents as well as the presence of a highly developed healthcare infrastructure. Healthcare providers and government bodies in the region are taking encouraging efforts to ensure the prevention of long term disabilities of children. In addition to this there are favorable reimbursement policies in North America which decreases the cost of treatment and encouraging parents to carry out newborn screening procedures.
Asia Pacific market is also witnessing a positive growth in the newborn screening market as there the healthcare industry is developing in this region and governments are also taking initiatives to control newborns from dealing with long term diseases. In addition to this, the presence of many players and a development of the medical tourism industry in Asia Pacific are helping the newborn screening market to grow.
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Global Newborn Screening Market: Companies Mentioned
The report profiles key players operating in the global newborn screening market. Some of the companies mentioned in the report are: Bio-Rad Laboratories, GE Life Sciences, BioTek Instruments, Inc., Masimo Corporation, PerkinElmer Inc., and ZenTech S.A. Players in the market are constantly striving to achieve innovation and advancements in technology in a bid to come up with enhanced and improved screening procedures. The report discusses the recent developments by leading players and also gives information about the partnerships, collaborations, acquisitions, and mergers. The business strategies adopted by key players are discussed and details about the business and financial status of the company are provided.