The Newborn Screening Market Is Expected to Reach $ 819.6 Million by 2019 - New Resaerch Report by MarketsandMarkets
(PRWEB) October 28, 2014 -- “Newborn Screening Market by Test Type (Dried Blood Spot, Hearing Screening, CCHD), Technology (Tandem Mass Spectrometry, Immunoassay, Enzyme Assays, Electrophoresis, Pulse Oximeter), Instrument, Accessories, Reagent & Assay Kit – Global Forecasts to 2019, provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the Newborn Screening market along with the estimates and forecasts of the revenue and share analysis.
The global newborn screening market was valued at an estimated $438.9 million in 2013 and is expected to reach $819.6 million by 2019, growing at a CAGR of 11.0% between 2013 and 2019.
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The global newborn screening market is categorized on the basis of test type, technology, product, and geography. The mass spectrometry market is expected to register the highest growth rate in the newborn screening market by technology, during the forecast period. This high growth is attributed to various nations opting for expanded newborn screening. Tandem mass spectrometry is a fundamental instrument used for expanded newborn screening. Furthermore, various conferences and symposiums are being conducted to spread awareness for the use of such technologies. For instance, in May 2013, the Joint Meeting of the Newborn Screening and Genetic Testing Symposium was organized in Atlanta. The symposium was aimed to discuss national and international newborn screening, genetic testing, and policy issues.
The newborn screening products market includes instruments, reagents, and assay kits. The instruments market accounts for the largest share of the global products market, followed by reagents and assay kits. The high share of the instruments market can be attributed to the wide usage of newborn screening devices across the globe.
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Major factors contributing to growth of newborn screening include government support in the form funding and rising awareness regarding new technologies. Furthermore, owing to continuous advancements in technology, new devices are being launched in the market which is another major factor providing impetus for growth of the market. The emerging Asian region and advent of next-generation sequencing technology are likely to provide opportunities for newborn screening market to grow. However, factors such as lack of trained professional infrastructure and socio-economical barriers may restrain the growth of this market.
The prominent players in the newborn screening market are AB SCIEX (U.S.), Agilent Technologies (U.S.), Bio-Rad Laboratories (U.S.), Covidien PLC (Ireland), GE Life Sciences (U.K.), Masimo Corporation (U.S.), Natus Medical Inc. (U.S.), PerkinElmer Inc. (U.S.), Trivitron Healthcare (India), and Waters Corporation (U.S.).
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