(PRWEB) August 17, 2014
According to a new market research report the "Newborn Screening Market by Test Type (Dried Blood Spot, Hearing Screening, CCHD), Technology (Tandem Mass Spectrometry, Immunoassay, Enzyme Assay, Electrophoresis, Pulse Oximeter), Instrument, Accessories, Reagent & Assay Kit – Global Forecast to 2019"
Browse 70 market data tables and 16 figures spread through 242 pages and in-depth TOC on "Newborn Screening Market"
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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 report segments this market based on type, technology, product and geography. Among various technologies, the enzyme assays and immunoassays commanded the largest share in 2013, while tandem mass spectrometry is forecasted to be the fastest-growing segment in this market. Factors such as benefits offered by newborn screening programs, legislations and mandates, technological advancements, government support, and expanding panel of newborn diseases are driving the growth of the market. Furthermore, owing to continuous advancements in technology, new and innovative devices are being launched in the market, which is another major factor providing impetus for growth of the market.
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Based on geography, the global market is segmented into North America, South America, Europe, Asia, and the Rest of the World (RoW). North America accounted for the largest share of the market in 2013. This large share of the North American region can be attributed to the government support in terms of formation of legislation, grants and funding, need for reducing healthcare cost and rising awareness.
The prominent players in this 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.).
The key strategies followed by most companies in the newborn screening market are new product launches, agreements, collaborations, partnerships, contracts, acquisitions, approvals, and expansions. Among all growth strategies being adopted by the market players in this field, agreements, collaborations, partnerships, and contracts accounted for the largest share of the overall growth strategies mapped from 2011 to 2014 to leverage the newborn screening market growth opportunities. Some leading players adopting this strategy include AB SCIEX (U.S.), Agilent Technologies (U.S.), Covidien PLC (Ireland), GE Life Sciences (U.K.), Masimo Corporation (U.S.), PerkinElmer Inc. (U.S.), and Trivitron Healthcare (India). New product launches accounted for the second-largest share of overall growth strategies adopted by players in the market
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