Rising prevalence of congenital disorders responsible for mental retardation advancement of next generation sequencing, high throughput screening (HTS), and cell free fetal DNA, high patient awareness levels and government initiatives impact the global newborn screening equipment market.
The global newborn screening equipment market was valued at an estimated USD 0.45 billion in 2016 and is anticipated to reach USD 1.0 billion by 2024, growing at a CAGR of 10.5% between 2016 and 2024. The global newborn screening software market is expected to reach USD 0.35 billion by 2024 at a CAGR of 6.45% over the forecast period. Regionally, APAC newborn screening software market is expected to witness the fastest growth of over 6.6% over the forecast period owing to quick and accurate diagnostics to have safe births.
The price of being wrong: Newborn Screening is Must
In US, all 50 states are required to test for newborn screening; each state has their own approach for screening for as many as genetic disorders (58). Newborn screening can go wrong anywhere or anytime due to incorrect blood collection procedure, botched test or misread tests and late delivery of sample for testing. According to Mayo Clinic, “Newborn screening should be as uniform as the food at McDonald’s i.e. it should be the same everywhere as labs are not utilizing the worldwide collaboration meant to create more uniformity in testing for all babies.” Also, they offer freely available software medical professional who are willing to use it as it was developed under a federal grant and is required to help labs more accurately in order to determine disorder in babies and reducing the number of false positives tests.
Prisca: Contribution of Siemens in Newborn Screening Solutions
With increase in 150% screenings per day, PRISCA 5.0 is the latest version of PRISCA that is used to assess maternal risk without invasive procedures. It supports multiple algorithms, protocols and risk calculations for first and second trimester screening, in addition with the calculation of chromosomal and neural tube defect risks on the basis of age-related, biochemical and sonographic information. PRISCA is industry’s leading maternal risk assessment system with up to 95% detection rate.
“Global Newborn Screening Software Market Outlook 2024” contains detailed overview of the global newborn screening software market in terms of market segmentation by technology 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 software market report also provides competitive outlook for some of the major players which includes profiling of companies such as PerkinElmer, NeoScreen, Bio-Rad, Astoria Pacific, Masimo, NorthGate, SCIEX, Omni Labs, Shimadzu, and Oz Systems. 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 software 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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