Newborn Metabolic Screening Market Soars to US$ 857.4 Million, Projecting a 9.2% CAGR Evolution by 2034:Fact.MR Report

Smart Solutions like Next-generation Sequencing Propel Newborn Metabolic Screening into a Revolutionary Period of Health and Wellness

Rockville , Feb. 12, 2024 (GLOBE NEWSWIRE) -- The newborn metabolic screening market is estimated to be worth US$ 355.1 million in 2024. The demand for newborn metabolic screening is increasing in a promising way, forecast to flourish at a CAGR of 9.2% between 2024 and 2034. The market is projected to surpass a value of US$ 857.4 million by 2034.

The increasing awareness among parents and healthcare professionals about the importance of early detection of metabolic disorders primarily drives the market growth. As routine screening becomes standard practice, the demand for advanced screening technologies and methodologies has witnessed a notable upswing. Moreover, newborn screening is becoming more proactive as the world's healthcare infrastructure continues to develop and more instances are being diagnosed.

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The integration of innovative technologies is a notable trend shaping the newborn metabolic screening market. The development of mass spectrometry and genetic testing technologies has given medical professionals strong instruments to identify many kinds of abnormalities in newborns early in their lives. The advent of next-generation sequencing and other high-throughput techniques has revolutionized the precision and efficiency of screening processes.

The global push by healthcare authorities for universal newborn screening programs has created a conducive environment for market growth. Governments and health agencies are recognizing the long-term benefits of early detection. This is prompting increased investments in screening programs and infrastructure. By focusing on early intervention and preventative measures, this combined endeavor seeks to lessen the burden of metabolic illnesses on individuals and healthcare systems. Additionally, the increasing emphasis on personalized medicine presents a unique opportunity for the market.

Regional Outlook

From 2024 to 2034, North America is expected to see a promising increase in revenue for newborn metabolic screening. The primary force driving the market beyond is the growing incidence of congenital diseases, especially in the United States. In the country, for example, an infant with a congenital disability comes into existence every four and half minutes, according to the Centers for Disease Control and Prevention. The newborn screening program has been strictly adhered to in all of North America's states due to the crucial conditions that have developed throughout time, encouraging market expansion.

In the next ten years, East Asia's newborn metabolic screening market is expected to grow steadily, showing a modest CAGR of 9.6%. Increased disposable income, better healthcare facilities, and the region's high fertility rates all encourage market expansion. China and India possessed fertility rates of 1.8 and 2.2 in 2020, respectively. Furthermore, government programs, rising healthcare costs, and a greater understanding of the benefits of newborn screening throughout the region are anticipated to propel the market positively in East Asia.

“The market is expected to surge rapidly with the introduction of revolutionary DNA sequencing technology. Gene panels with greater scope are projected to improve early identification and treatment for multiple conditions. Moreover, machine learning is likely to transform newborn metabolic screening by effectively evaluating large amounts of data, offering profitable prospects for newborn metabolic screening market growth.” says a Fact.MR analyst.

Key Companies Profiled in This Report

• PerkinElmer
• Bio-Rad Laboratories
• Trivitron Healthcare Private Limited
• BioMedomics, Inc.
• Luminex Corporation
• MP BIOMEDICALS
• Synergy Medical Systems LLP
• Agilent Technologies, Inc.
• Thermo Fisher Scientific, Inc.
• Zivak Technologies
• Covidien Plc
• AB Sciex LLC
• Waters Corp.
• Masimo Corp.
• Natus Medical Inc.
  

Key Takeaways from the Market Study

• The global newborn metabolic screening market is projected to expand at a CAGR of 9.2% through 2034.
• The North America newborn metabolic screening industry is expected to develop at a promising CAGR of 9.4% through 2034.
• The United States dominates the global newborn metabolic screening market, estimated to value at US$ 87 million in 2024. The market is likely to surge at a CAGR of 9.8% through 2034.
• The newborn metabolic screening industry in China is expected to rise at a CAGR of 9.9%, reaching a valuation of US$ 70 million by 2034.
• Based on test type, sickle cell disease is likely to hold a 32.5% market share in 2024.
• The hospital segment is set to dominate the end-user category with a 40.3% share in 2024.

Competitive Landscape

Leading market players focus on enhancing test accuracy and expanding test panels while startups innovate with cost-effective solutions and rapid results. Established firms prioritize strategic partnerships for broader market penetration, while newcomers leverage niche expertise and agility to carve out specialized segments, fostering healthy competition.

The EONIS screening test, which is utilized to screen infants for XLA (X-linked agammaglobulinemia), SCID (severe combined immunodeficiency), and SMA (spinal muscular atrophy), was approved by CE-IVD in September 2020 for PerkinElmer.

In January 2023, Masimo unveiled its state-of-the-art infant monitoring device. This was designed to empower caregivers to monitor baby data in real-time.

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Explore More Related Studies Published by Fact.MR Research: 

Carrier Screening Market: Carrier screening market is estimated to grow at a CAGR of 12% from 2022 to 2032.

Screening Equipment Market: The global screening equipment market has reached a valuation of US$ 6.78 billion and is anticipated to expand at a CAGR of 5.6% to reach US$ 11.69 billion by the end of 2032.

Newborn Screening Market: The market for newborn screening is likely to be valued at US$ 1.1 Billion By 2032.

About Fact.MR:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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