Non-Invasive Prenatal Testing (NIPT) Market Expected to Reach USD 1.97 Billion Globally in 2020 : Transparency Market Research
Albany , NY (PRWEB) February 04, 2015 -- According to a new market report published by Transparency Market Research “Non-Invasive Prenatal Testing (NIPT) Market - Global Industry Analysis, Size, Volume, Share, Growth, Trends and Forecast, 2014 - 2020,” the global NIPT market was valued at USD 0.53 billion in 2013 and is expected to grow at a CAGR of 19.8% from 2014 to 2020, to reach an estimated value of USD 1.97 billion in 2020.
Over the past two years, the global prenatal testing market is witnessing a paradigm shift towards the growing demand for non-invasive prenatal testing over the conventional prenatal screening and diagnostic methods such as maternal serum screening, nuchal translucency (NT) scan, amniocentesis and chorionic villus sampling (CVS). It is mainly because of advantages associated with NIPTs such as safety, accuracy, and no risk of miscarriage during the genetic screening test for the common chromosomal abnormalities (trisomy 21, trisomy 18, trisomy 13, monosomy X, etc.).
Browse the full Non-Invasive Prenatal Testing (NIPT) Market Report : http://www.transparencymarketresearch.com/noninvasive-prenatal-diagnostics-market.html
BambniTest, Harmony, informaSeq, MaterniT21 PLUS, NIFTY, Panorama, PrenaTest, verifi and VisibiliT are the commercially available NIPTs in the global market which are based on the direct analysis of cell-free fetal DNA in the maternal blood. MaterniT21 (MaterniT21 PLUS) was the first non-invasive prenatal Laboratory Developed Test (LDT) that was launched by Sequenom, Inc. in October 2011 for detection of trisomy 21. MaterniT21 PLUS gained advantage of being the first mover in the competitive landscape of NIPT market and was the most accepted NIPT in 2013, accounting for 36.1% share of the global NIPT market revenue. During the forecast period from 2014 to 2020, its share is likely to decrease significantly due to increasing market penetration by other aforementioned NIPTs such as NIFTY, Panorama and verifi.
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Advantages offered by NIPT such as non-invasive nature, high accuracy and early detection, rising awareness, increasing market penetration in the highly untapped European and Asian countries, and continuous increase in average maternal age have been identified as the major factors that are expected to drive growth of the global NIPT market during the forecast period. However, the market may face significant challenges from ethical and regulatory hurdles associated with the implementation of NIPT on account of the belief that it is likely to increase the incidence of abortions. As a consequence, various professional organizations such as the American College of Obstetricians and Gynecologists (ACOG), International Society for Prenatal Diagnosis and The Japan Society of Obstetrics and Gynecology, and genetic counselors around the world have set up guidelines that limit the use of non-invasive prenatal testing only to pregnant women at high risk of chromosomal aneuploidies.
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Geographically, North America was the largest regional market in 2013 with a market share of 58.8% of the total revenue generated globally, followed by Europe. Sequenom, Inc., Illumina, Inc., Ariosa Diagnostics, Inc., Natera, Inc. and LabCorp are the major players operating in the North American market. The fact that the first non-invasive prenatal test, MaterniT21 (Sequenom, Inc.) was launched in the U.S. and the major four players operating in the NIPT market are domiciled in the U.S. are among the major factors responsible for North America dominating the global NIPT market in 2013. The increasing penetration by test developers in European, Asian-Pacific and Middle-Eastern countries indicates promising growth in the near future in these markets. Sequenom, Inc., Illumina, Inc. (Verinata Health, Inc.), Ariosa Diagnostics, Natera, Inc., BGI Diagnostics, LifeCodexx AG, LabCorp and Berry Genomics are the companies engaged in providing non-invasive prenatal tests worldwide.
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