NEW YORK, May 12, 2021 /PRNewswire/ -- The global non-invasive prenatal testing (NIPT) market size is expected to reach USD 6.56 billion by 2028 according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR of 11.0% From 2021 – 2028. Increasing risk of chromosomal abnormalities, rise in cases of chromosomal aneuploidies among fetus, and rapid development of testing products driving the market growth. In addition to this, increasing awareness among people regarding the benefits of non-invasive prenatal testing coupled with the availability of favorable reimbursement policies are turning out in the favor of the target market. Moreover, the untapped market potential in major economies offers promising growth of opportunities for market players working in such areas.
Major Developments and Key Trends in Non-Invasive Prenatal Testing (NIPT) Market
The kits/consumables segment contributed the largest share in the market and is projected to grow at the fastest rate during the forecast period. Rise in incidences of chromosomal abnormalities, increasing approvals for assays, and rate of tests conducted worldwide helping the segment to grow.
The cell-free DNA-based NIPT segment is estimated to generate a higher revenue share over the forecast period, due to the increasing use of cell-free for predicting the risk of genetic conditions in prenatal care.
Diagnostics laboratories segment holding a dominant position in the market, on account of increasing preference for NIPT services offered by diagnostics laboratories. The ample availability of trained laboratory technicians and well-equipped facilities driving this segment's growth.
North America accounted for the largest share of the global non-invasive prenatal testing market. The increasing prevalence of genetic disorders in newborns, technical advances in NIPT technologies, and huge government spending on research and development (R&D) activities are the major factors driving this region's largest share.
Asia Pacific is expected to be the rapidly growing region, especially in countries such as India, China, Japan, Australia, and Japan having significant growth potential in the NIPT sector. The Asian market is anticipated to expand as a result of an increasing number of women choosing late pregnancy in the region. North America dominated the non-invasive prenatal testing market owing to the involvement of key players in the United States as well as growing awareness among people about NIPT.
Some of the dominating players in the non-invasive prenatal testing (NIPT) market are Agilent Technologies, Inc., Laboratory Corporation of America Holdings, Illumina, Inc., F. Hoffman-La Roche Ltd., Yourgene Health, Perkinelmer, Inc., GE Healthcare, Quest Diagnostics, Thermo Fisher Scientific, Inc., Sequenom, Qiagen N.V., Koninklijke Philips N.V., Natera, Inc., Beijing Genomics Institute, and Pacific Biosciences of California, Inc. These players are forming alliances with different hospitals, clinical laboratories, and giving extra emphasis on marketing their proprietary non-invasive prenatal tests.
On account of the technological advancements, and greater need to cater to customer requirements, companies are collaborating in order to strengthen the market presence and gain market share. Broadening of the product portfolio is another trend that is visible in the industry.
Supply Side: Healthcare Company
Demand Side: Hospitals, Diagnostics Laboratories, Research Institutes
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