The existence of high-risk pregnancies across the world has significantly stimulated the market for non-invasive prenatal testing (NIPT) in the recent times. This owes to the expansion in per capita income of individuals along with the rising inclination of people towards urban living. Also, non-invasive prenatal testing processes are rapidly gaining traction owing to the intensifying prevalence rate of babies with Down syndrome. This is compelling healthcare service providers to advance their practices of diagnosis and screening .Additionally, the method is highly accurate as well as safe. Consequently, this factor will significantly soar the demand for prenatal testing across the globe. Further, prenatal testing may observe huge demand among the young adults owing to the escalating existence of ADHD disorders. Parents from all around the globe are vigorously contributing in protecting the health of their babies via these methods, otherefore, propelling the market growth further.
Panel 1 to Witness Highest Growth in the Coming Times
Types of tests comprise panel 1, panel 2, and panel 3. Panel 1 tests currently consume for the largest shares in the global market. This owes to its easy accessibility and lower cost of adoption. Further, the segment is expected to gain demand and is likely to cross over US$ 850 million by the end of the forecast period (2016-2024).
It will expand at the lucrative CAGR of over 10.8%. The increase in usage of evolving technology platforms such as next-generation massively parallel sequencing has encouraged vendors to produce more sensitive tests in order to attain better results. Total revenues for panel 2 tests are expected to elevate at the robust CAGR of over 9.7% by the end of the assessment period.
Key Market Drivers
Several market players are engaged in distribution agreements with laboratories in order to provide enhanced products and services to the patients. This factor is considerably affecting the market for non-invasive prenatal testing. Similarly, the rising awareness among the people regarding the novel and inventive methods will spur the market demand. Obstetricians across the globe are recommending patients to undergo such treatments methods rather than opting for invasive techniques, eventually driving the demand. Hospitals are said to be the biggest end user for non-invasive prenatal testing. It is expected to rise significantly throughout the predicted period. It will display lucrative revenue growth at 11.1% of CAGR.
Geographical Scenario of Non-Invasive Prenatal Testing
Associations and partnerships among the top notch market players in the North America region are expected to contribute the regional growth lucratively mainly for panel 1 type of testing. This owes to the accuracy as well as safety of this method. The providers in the region are increasingly focusing on enhancing the technology to provide improved services to the customers.
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On the other hand, APAC region is experiencing high demand from regions such as New Zealand, China, and Australia. High-risk pregnancies along with the advanced maternal age in the Chinese region is greater when compared to the US, therefore, this market is likely to create more profitable opportunities for the introduction of non-invasive prenatal tests in this region.