The global newborn screening market is expected to grow at an annual rate of 7.8 percent from USD 0.85 billion in 2021 to USD 1.7 billion in 2026. The rising prevalence of newborn disorders, as well as favourable reimbursement policies, are driving growth in this market. The availability of refurbished goods, on the other hand, is expected to limit the market's growth during the forecast period.
The increased incidence of newborn metabolic, hormonal, and genetic disorders, as well as favourable government policies, are driving the growth of newborn screening.
Furthermore, healthcare providers' decision-making is hampered by a shortage of evidence on the long-term effects of new diseases and a scarcity of follow-up information for screened conditions. As a result, in the newborn screening industry, there is a need to standardise valuation techniques for paediatric health states.
During the forecast era, the market in the Asia Pacific is expected to expand at the fastest pace. The presence of a large pool of newborns, the rising prevalence of newborn disorders, the growing understanding of early disease diagnosis, and the attention of key players in this area are all driving growth in this market.
Consumables accounted for the majority of the newborn screening industry in 2019. The relentless demand for consumables in newborn screening accounts for this market segment's large share. The rising prevalence of newborn diseases and the rate of newborn screening around the world are two major factors supporting the growth of consumables.
In the coming years, the size of the newborn screening test market will reach new heights. In the global economy, the newborn screening market share will rapidly expand. By the end of 2025, the newborn screening business sector will have reached its peak and will make a significant contribution to the global economy.
The global newborn screening market has reached its maximum potential and is steadily expanding in scale. The number of newborn babies is growing every day, necessitating massive growth in the newborn screening market. New-born screening market growth would be aided by technological advances in the development of new-born screening systems. Several countries' governments are funding various newborn screening services and taking a variety of steps to raise public awareness about newborn screening and the benefits associated with it. Various non-profit and government organisations are working to improve the welfare of both the baby and the mother. The government is also loosening controls on the production and selling of newborn screening devices, which would enable manufacturers to create more diverse systems. Campaigns to raise disease awareness will evolve the potential of the internet.
The market for newborn screening systems is expected to expand rapidly in the coming years, thanks to the rising demand for newborn screening systems. Several technical advances in the newborn screening method would act as a demand booster for the growth of the newborn screening market. The growing population of newborn children would significantly contribute to the growth of the newborn screening market share. Governments in various countries are also raising awareness about newborn screening procedures and taking steps to help the newborn screening industry. In the forecast era, both of these opportunities will drive the newborn screening market to greater heights.
The newborn screening market is growing at a rapid pace, but it also faces some challenges. The lack of adequate healthcare facilities and infrastructure is posing a greater obstacle to the growth of the newborn screening industry. Newborn screening tests are not always accurate, resulting in product unreliability. There are very few skilled professionals who can properly handle the screening procedure, which creates a roadblock in the newborn screening market's growth direction.
COVID-19 Impact on the Global Newborn Screening Market
COVID-19 has had a minimal effect on the newborn screening market, despite the fact that it has affected many segments of the medical devices and diagnostics industry. Legislation in key markets has also stressed the importance of newborn screening, with strict laws in place to monitor newborn health and protect babies from diseases like COVID-19. Many screening laboratories and government agencies educate parents about their children's health.
COVID-19, on the other hand, disrupted the production and distribution activities of major market players such as Natus (US), PerkinElmer (US), and Masimo (US) in Q2 2020. However, operations resumed in Q3 as countries lifted their embargoes and allowed the transport of medical supplies.
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