According to FutureWise analysis the market for prenatal and new-born genetic testing in 2023 is US$ 6.1 billion, and is expected to reach US$ 14.81 billion by 2031 at a CAGR of 11.7%.
The development of many strategies to aid in the diagnosis of genetic abnormality in infants has been aided by technological developments in prenatal and new-born genetic testing. The fast advancement of prenatal genetic testing and foetal screening technology has opened up a plethora of diagnostic tools for the early diagnosis of genetic disorders and chromosomal abnormalities. The use of these technologically advanced goods has fueled research into factors that cause intellectual disability, rare genetic and genomic diseases, and birth deformities, among other things. The demand for prenatal genetic testing and screening will be fueled by technological advancements that improve the precision, efficacy, and feasibility of genetic tests. Prenatal genetic testing is a term used to describe tests done during pregnancy to see if the foetus has a genetic issue or a birth defect. It is done to see if there are any genetic diseases present, such as Tay-Sachs disease, cystic fibrosis, sickle cell anaemia, and Down's syndrome. After a baby is born, newborn genetic testing is performed to look for genetically inherited disorders or congenital anomalies such phenylketonuria, muscular spinal atrophy, serious congenital heart disease, hearing loss, and other conditions. Prenatal and newborn genetic tests are important in determining various possibilities during pregnancy in order to improve the baby's health prognosis. Prenatal and neonatal screening lowers infant mortality rates and improves patient outcomes. In addition, due to its superior safety and accuracy to invasive diagnostic procedures, the usage of noninvasive prenatal testing has grown over time. Several ethical concerns about prenatal and newborn testing, however, may stymie commercial growth. Infant mortality is linked to chromosomal abnormalities, which are one of the primary causes of death in children. Many countries are supporting the use of prenatal and newborn genetic testing as a result of the increased number of incidences of genetic abnormalities in infants. As a result, this aspect is driving the market's growth even more.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Prenatal and New-born Genetic Testing Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Prenatal and New-born Genetic Testing Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.