(IT-NEWSWIRE.COM, September 25, 2020 ) According to the new market research report "Non Invasive Prenatal Testing (NIPT) Market by Product (Consumables, Reagent, Ultrasound, NGS, PCR, Microarray), Services, Method (cfDNA, Biochemical Markers), Application (Aneuploidy, Microdeletion) & End-User (Hospital, Labs)-Global Forecasts to 2024", published by MarketsandMarkets™, the Non Invasive Prenatal Testing (NIPT) Market is estimated to reach USD 7.3 billion by 2024 from USD 3.9 billion in 2019, at a CAGR of 13.5% during the forecast period.
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The major factors driving the growth of this Non Invasive Prenatal Testing (NIPT) Market include the growing preference for non-invasive techniques over invasive methods, rising focus on reimbursement for NIPT, the launch of new and advanced NIPT products, and increasing maternal age (growth in the risk of chromosomal abnormalities in babies). Furthermore, untapped emerging markets are expected to offer potential growth opportunities to players operating in the NIPT Market during the forecast period. On the other hand, a dearth of skilled professionals is expected to restrain the growth of this market in the coming years.
"The services segment is expected to grow at the highest CAGR during the forecast period."
On the basis of product and service, the NIPT Market is segmented into products and services. The services segment is expected to grow at the highest CAGR during the forecast period. Factors such as the rising incidence of genetic disorders, increasing focus on prenatal screening, and government initiatives to provide prenatal testing services are contributing to the growth of this market.
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112 – Tables
31 – Figures
144 – Pages
"The trisomy segment accounted for the largest share of the market in 2018."
On the basis of application, the NIPT Market is segmented into trisomy, microdeletion syndrome, and other applications. The trisomy segment accounted for the largest share of the non-invasive prenatal testing market in 2018. This segment is also expected to register the highest CAGR during the forecast period. The large share and high growth of this segment can primarily be attributed to the increasing maternal age and the rising incidence of chromosomal abnormalities.
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"North America dominated the NIPT Market in 2018."
In 2018, North America dominated the Non Invasive Prenatal Testing (NIPT) Market, followed by Europe. The large share of this market can primarily be attributed to the strong economies in the US and Canada, which have allowed for significant investments in technology in this region. Growth in the North American market is supported by the presence of a better reimbursement structure and a favorable funding scenario for research activities, rising awareness about NIPT, and the increasing demand for the early detection of birth defects in this region.
The prominent players in the Non Invasive Prenatal Testing (NIPT) Market are Illumina, Inc. (US), Thermo Fisher Scientific Inc. (US), GE Healthcare (US), BGI (China), Agilent Technologies, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), PerkinElmer Inc. (US), Laboratory Corporation of America Holdings (US), Natera, Inc. (US), and Yourgene Health (UK)
Mr. Aashish Mehra