May 29, 2020 (Market Insight Reports) -- Selbyville, Delaware — MarketStudyReport.com offers 2019 report on Global Newborn Screening Market that evaluates industry growth trends through historical data and estimates prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2019-2027 .
According to a study the global market for newborn screening is anticipated to grow at a CAGR of 13.76% over the forecast duration of 2019-2027.
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Due to the rise in the pervasiveness of congenital diseases, a large number of newborns are being affected by such conditions, which is a major driver for the newborn screening market. Moreover, government backing for newborn child health and the rising awareness for congenital heart disease in newborns are further pushing the growth of the market significantly. The increase in the global fertility rate has proven to be beneficial for the growth of the market. Furthermore, newborn screening helps in the early identification and management of affected newborns.
Newborn screening procedures/tests involve a set of blood tests and other tests to seek evidence of certain genetic and endocrine diseases. The screening is performed to identify several medical conditions such as galactosemia, sickle cell disease, congenital hypothyroidism, phenylketonuria, among others. These tests have the potential to detect the risk of diseases prior to the appearance of clinical symptoms at an early stage, the early treatment of which can prevent premature death, spasticity, mental retardation and serious illnesses.
Technological advancements in newborn screening and increase in the number of pregnant women with advanced maternal age can be used as opportunities for the growth of the market. On the flip side, the absence of proper healthcare infrastructure for newborn babies in developing countries and the socio-economic hurdles in the implementation of newborn child screening act as major restraints for the growth of the market. Furthermore, the dearth of skilled professionals in the healthcare industry and maintenance issues of hospital equipment severely limit the growth of the newborn screening market.
The Asia-Pacific newborn screening market is the leading market globally, with the highest CAGR. In addition, North America's supportive policies further supplement the growth of the newborn screening market in the US and Canada. For instance, the United States Government has mandated the newborn hearing screening among all the territories and 50 states of the United States since 1996, as per the Journal of Early Hearing Detection and Intervention (JEHDI), 2016 research. Further, in 2011, the US Department of Health and Human Services (HHS) added critical congenital heart defects (CCHD) in the Recommended Uniform Screening Panel for all the newborns born in the US. Further, high healthcare and R&D expenditure in the US and Canada also act as drivers for the growth of the newborn screening market in North America.
The global newborn screening market spans across five major regions, namely, Latin America, Europe, North America, Asia-Pacific and the Middle East and Africa.
BioTek Instruments, Inc., is a medical device company that develops, manufactures and distributes microplate instrumentation and software. The company's products include detection, liquid handling, robotics, software and robotics and accessories. It provides accessories such as BioStack integration kits, bottles and tubing, cables, cassettes, dispense or waste systems, filter accessories, filter cubes, filters, labware holders, lamps, manifolds, mirrors, miscellaneous, and test plates & reagents. It serves the pharmaceutical and healthcare industries. In October 2018, BioTek released a Peltier Cooling Module for the Cytation(TM) Cell Imaging Multi-Mode Readers.
The dominant companies in the market are Trivitron Healthcare, ZenTech S.A., Masimo Corporation, PerkinElmer, Inc., Agilent Technologies, Inc., SCIEX, Bio-Rad Laboratories, Inc., BioTek Instruments, Inc., Waters Corporation, Thermo Fisher Scientific, Inc., Cardinal Health, Inc., NeoGen Labs Pvt. Ltd., Medtronic Plc, Natus Medical, Incorporated and GE Healthcare Limited.
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