HealthTech

Prenatal Testing Market Size Forecasted to Reach Valuation of USD 8.08 Billion by 2027

By Biswas Debanjan

Posted on December 27, 2021

The Prenatal Testing Market is expected to be valued at USD 8.08 Billion by 2027 from USD 3.23 Billion in 2019, registering a CAGR of 12.9% through the forecast period. The market is poised to expand exponentially over the projected timeframe due to the escalating incidences of chromosomal defects with the rising maternal age. Every year nearly 10-15% of clinically reported pregnancies end in miscarriages, with chromosomal defects observed in approximately 50% of cases.

The growing awareness about the advantages of advanced testing procedures is projected to further stimulate the market growth in the estimated timeframe. Moreover, the rising corrections and improvements in the reimbursement scenario in prenatal testing are further predicted to bolster the market growth in the estimated years. Additionally, the augmenting incidences of miscarriages globally are also adding traction to market growth.

However, the high expenses associated with testing procedures, lack of expertise, shortage of skilled professionals, and the absence of proper and advanced healthcare facilities in developing and underdeveloped economies are projected to restrain the growth of the market in the projected timeframe.

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Key Highlights from Report:

The ultrasound sub-segment is projected to expand significantly over the projected timespan, registering a CAGR of 13.2%. The growth of the segment can be accredited to the secure and pain-free attributes of ultrasound prenatal testing procedures. The method utilizes sound waves to produce images that provide insights into the baby’s position and condition.
The non-invasive sub-segment is foreseen to occupy the largest share of the industry during the estimated years at a high CAGR. The advantages of non-invasive testing procedures such as less pain, shorter hospital stays, minimal risks of infection, rapid healing, and little to no blood loss are driving the segment’s growth.
The diagnostic center sub-segment is projected to command the market growth in the forecast timeframe owing to the rapid development of these centers propelled by the growing initiatives to confer accurate and effective paternity testing and the ever-increasing burden of chromosomal aberrations.
Due to the growing preference for non-invasive and invasive diagnostics procedures, increasing healthcare budget and expenditure for medical services, and the escalating occurrences of genetic syndromes in the region, North America is projected to command the market expansion in the projected timeframe.
Major players in the global market include Quest Diagnostics, Natera, Inc., GeneDx, Inc., Illumina, Inc., Prenatal Paternities Inc., Ravgen Inc., Ariosa Diagnostics, Inc., Counsyl, Inc., LabCorp, and Eurofins NTD Inc., among others.
Quest Diagnostics acquired Blueprint Genetics Oy in January 2020. The consolidation of Blueprint Genetics into the Quest Diagnostics’ portfolio will expand and improve the Quest Value Proposition, contributing to its accelerated development schedule.

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For the purpose of this report, Emergen Research has segmented the Global Prenatal Testing Market on the basis of method, test type, application, end-use, and region:

Method Outlook (Revenue, USD Billion; 2017-2027)