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(Health-NewsWire.Net, October 17, 2019 ) The major factors driving the growth of this market include the growing preference for non-invasive techniques over invasive methods, rising focus on reimbursement for NIPT, the launch of new and advanced NIPT products, and increasing maternal age (growth in the risk of chromosomal abnormalities in babies).
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What the Market Looks Like?
Predicted to grow at a CAGR of 13.5% during the forecast period,the global non-invasive prenatal testing (NIPT) market is estimated to reach USD 7.3 billion by 2024 from USD 3.9 billion in 2019. The global Non Invasive Prenatal Testing (NIPT)Growth in this market is driven by the high risk of chromosomal abnormalities with increasing maternal age, growing preference for non-invasive techniques over invasive methods, improving reimbursement scenario for NIPT, and increasing awareness of NIPT. However, a dearth of skilled professionals is restraining the growth of this market.
> By method, the NIPT products market is segmented into ultrasound detection, biochemical screening tests, and cell-free DNA in maternal plasma tests. The cfDNA in maternal plasma tests segment is expected to grow at the highest CAGR during the forecast period.
> Based on application, the non-invasive prenatal testing (NIPT) market is segmented into trisomy, microdeletion syndrome, and other applications (gender identification and the detection of monogenic disorders, Klinefelter syndrome, and Rhesus (Rh) blood type).
> Based on end user, the NIPT products market is classified into diagnostic laboratories and hospitals. In 2019, diagnostic laboratories formed the largest and fastest-growing end users of NIPT products.
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What Drives the Market?
The growth of the global market for Non Invasive Prenatal Testing (NIPT) is primarily influenced by the following factors:
• High Risk of Chromosomal Abnormalities With Increasing Maternal Age
• Growing Preference for Noninvasive Techniques Over Invasive Methods
• Improving Reimbursement Scenario for NIPT
• Programs Focusing on Increasing the Awareness of NIPT
Untapped emerging markets are expected to offer potential growth opportunities to players operating in the NIPT market during the forecast period. On the other hand, a dearth of skilled professionals is expected to restrain the growth of this market in the coming years.
Geographical growth scenario of Non Invasive Prenatal Testing (NIPT) :
Geographically, Non Invasive Prenatal Testing (NIPT) market has been studied for North America dominated the market, followed by Europe. The large share of this market can primarily be attributed to the strong economies in the US and Canada, which have allowed for significant investments in technology in this region.
Leading market players and strategies adopted
The NIPT market is diversified and highly competitive, with a large number of players competing for market space. The prominent players in the market are Illumina, Inc. (US), Thermo Fisher Scientific Inc. (US), GE Healthcare (US), BGI (China), Agilent Technologies, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), PerkinElmer Inc. (US), Laboratory Corporation of America Holdings (US), Natera, Inc. (US), and Yourgene Health (UK)
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