Quality assurance of newborn diagnostic procedures, new opportunities for newborn screening equipment market expansion in developing economies, mergers and acquisition trend, government newborn screening healthcare reforms, etc impact the global newborn screening equipment market.
The global newborn screening equipment market valued USD 0.45 billion in 2016 and is expected to reach USD 1.0 billion by 2024, growing at a CAGR of 10.5% between 2016 and 2024.
Technology wise, tandem mass spectrometry tends to dominate the newborn screening equipment market over the forecast years. On the basis of application, Critical Congenital Heart Disease (CCHD) acquires the major market share among application category in newborn screening equipment market.
North America newborn screening equipment market has the largest share i.e. 45%, tends to generate revenue of USD 0.51 billion by 2024 at a CAGR of 12.12% over the forecast years.
Newborn Screening: A Necessity with Compulsion
Newborn screening enables the doctor to determine the condition affecting a child’s long-term health or survival. Early detection, diagnosis, and intervention can prevent death or disability and enable children to reach their full potential. In US, millions of babies every year are monitored routinely, utilizing few drops of blood from the newborn’s heel, for certain genetic, endocrine, and metabolic disorders, and are also tested for hearing loss and critical congenital heart defects (CCHDs) prior to discharge from a hospital or birthing center.
Most countries screen for 29 of the 34 conditions recommended by the Discretionary Advisory Committee on Heritable Disorders in Newborns and Children. Although these conditions are rare, each year over 5,000 babies are identified with a newborn screening condition.
“Global Newborn Screening Equipment Market Outlook 2024” contains detailed overview of the global newborn screening equipment market in terms of market segmentation by technology, spectrum and application.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global newborn screening equipment market report also provides competitive outlook for some of the major players which includes profiling of companies such as Agilent Technologies Inc., Natus Medical Inc., Covidien Plc, Trivitron Healthcare, GE Healthcare, Masimo Corp., AB Sciex LLC, Waters Corp., PerkinElmer Inc. and Bio-Rad Laboratories Inc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global newborn screening equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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