DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
The non-invasive prenatal testing market is projected 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.
Growth in this market is driven by the high risk of chromosomal abnormalities with increasing maternal age, growing preference for non-invasive techniques over invasive methods, improving reimbursement scenario for NIPT, and increasing awareness of NIPT. However, a dearth of skilled professionals is restraining the growth of this market.
The services segment is expected to grow at the highest CAGR during the forecast period
Based on product and service, the NIPT market is segmented into products and services. The services segment is estimated to register the highest growth rate during the forecast period. 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.
The diagnostic laboratories segment accounted for the largest share of the NIPT products market in 2018
Based on end-user, the NIPT products market is classified into diagnostic laboratories and hospitals. In 2018, diagnostic laboratories formed the largest and fastest-growing end-users of NIPT products. This can primarily be attributed to factors such as the implementation of initiatives by diagnostic laboratories to provide safe and effective prenatal tests and rising incidence of chromosomal abnormalities.
Asia to witness high growth during the forecast period
By region, the global NIPT market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). In 2018, North America accounted for the largest market share, followed by Europe. On the other hand, Asia is expected to grow at the highest CAGR during the forecast period. The developing healthcare infrastructure, rising awareness programs & conferences, and rising focus of prominent players on expanding their presence in Asia are driving market growth in this region.
List of Companies Profiled in the Report
- 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 (LabCorp) (US)
- Natera, Inc. (US)
- Yourgene Health (UK)
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