Owing to high availability and less cost the adoption rate of Panel 1 tests is comparatively high in the global non-invasive prenatal testing market
The Panel 1 Tests segment is expected to expand at 10.8% CAGR over the forecast period and be valued at more than US$ 850 Mn by 2024 end. This segment was estimated to account for more than 50% revenue share of the global non-invasive prenatal testing market by 2016 end. Panel 1 Tests segment is projected to create absolute $ opportunity of more than US$ 40 Mn in 2017 over 2016. Revenue from this segment in the global non-invasive prenatal testing market is expected to grow 2.3x by 2024 end as compared to that in 2016.
The Panel 2 Tests segment is expected to record absolute $ opportunity of close to US$ 19 Mn in 2017 over 2016. The Panel 2 Tests segment is estimated to register 9.7% CAGR over the forecast period. This segment is expected to lose a little more than 90 BPS in its market share by 2024 end.
The Panel 3 Tests segment revenue in the global non-invasive prenatal testing market is expected to grow 1.9x by 2024 end as compared to that in 2016. The Panel 3 Tests segment is anticipated to expand at 8.6% CAGR over the forecast period and be valued at more than US$ 200 Mn by 2024 end. This segment is expected to lose more than 180 BPS in its market share by 2024 end.
Continuous technology innovation by developers of non-invasive prenatal tests is expected to fuel revenue growth of the test type segment
Leading market players in the global non-invasive prenatal testing market are introducing innovative tests to differentiate themselves from one another in a competitive market. According to a review article published in the British Medical Journal in 2016, the sensitivity of tests for Down Syndrome was 99.3%, 97.4% for Edwards and 97.4% for Patau Syndrome. The specificity of all three tests was 99.9%. Use of emerging technology platforms such as next-generation massively parallel sequencing has incentivized vendors to develop more sensitive tests for better results. This particular factor is fueling the growth of the test segment of the global non-invasive prenatal testing market.
Several laboratories and companies have signed distribution agreements with test providers to be able to offer advanced products and services to patients, which is creating a positive impact on the test segment of the global non-invasive prenatal testing market. Several public health agencies of major countries around the globe have either started to, or are expected to offer these tests directly. This is further driving the adoption and revenue growth of the test segment as awareness of these procedures is expected to increase amongst the global population. Increasing awareness regarding non-invasive prenatal testing across geographies is expected to boost the revenue growth of the test type segment over the forecast period. For instance, obstetricians are increasingly recommending patients to undergo non-invasive tests as an alternative to invasive methods and for initial diagnostic screening in the first trimester of pregnancy.
Rising demand for early and non-invasive screening procedures and rise in advanced maternal age is expected to drive the growth of the test type segment worldwide
The Panel 1 Tests segment dominated the North America non-invasive prenatal testing market in terms of revenue in 2015 and the trend is projected to grow throughout the forecast period. Panel 1 Tests segment is the most attractive segment in the North America non-invasive prenatal testing market, with a market attractiveness index of 1.6 over the forecast period. Focus on improving technology and alliances and partnerships among key market players across North America is a major factor fueling the growth of the test type segment. In Latin America, government initiative and established healthcare infrastructure and partnerships are creating a positive impact on the overall test type segment. The high adoption rate of non-invasive prenatal tests is a major factor driving market growth in the APAC region particularly in countries like China, Australia and New Zealand. Advanced maternal age and high-risk pregnancies in China are estimated to be three times as compared to the U.S., and this factor is creating lucrative opportunities for the introduction of non-invasive prenatal tests in the Asia Pacific region.
Manufacturers operating in the global non-invasive prenatal testing market focus on developing innovative products to retain their market share. Key players in the global non-invasive prenatal testing market are focusing on the development of new technologies for tests such as oral suspensions and transdermal patches. While considering the overall market approach, the analysts of Persistence Market Research have presented their findings in a new report titled “Non-Invasive Prenatal Testing Market: Global Industry Analysis and Forecast, 2016–2024.” According to the report, suppliers hold patents for proprietary technologies like sequencing that is usually technology-specific and is generally provided by the same suppliers. The report targets key geographies while researching the global non-invasive prenatal testing market and highlights two important aspects. Firstly, North America represents the most lucrative market, followed by Europe and APAC. Secondly, the non-invasive prenatal testing market in MEA is likely to record comparatively less growth due to low awareness about non-invasive prenatal testing among key stakeholders such as patients and healthcare professionals. When it comes to differentiating the strategies of manufacturers in this market, it has been observed that manufacturers are focused on developing novel platforms and technologies for prenatal testing with lower pricing, thus expecting to increase their respective market shares.
This report covers the global non-invasive prenatal testing market performance in terms of revenue contribution from various segments. This section also includes Persistence Market Research’s analysis of key trends, drivers, restraints and opportunities, which are influencing the growth of the global non-invasive prenatal testing market. Impact analysis of key growth drivers and restraints are included in this report to better equip clients with crystal clear decision-making insights. The primary objective of the report is to offer updates and information related to market opportunities in the global non-invasive prenatal testing market.
The report begins with an overview of the global non-invasive prenatal testing market and key market definitions. This section also underlines factors influencing the growth of the global non-invasive prenatal testing market along with a detailing of the key trends, drivers, restraints, and opportunities. Key region-specific trends are included to better equip clients with information and hidden insights. Furthermore, Persistence Market Research provides a competitive landscape of the top market companies and their strategic developments. The next section of the report highlights the growth trends of the global non-invasive prenatal testing market by region. It provides a market outlook for 2015–2024 and sets the forecast within the context of the global non-invasive prenatal testing market. The study discusses key regional trends contributing to the growth of the non-invasive prenatal testing market worldwide, as well as analyses the extent to which drivers are influencing this market in each region. The competitive landscape provides report audiences with a dashboard view of competitor firms. Detailed company profiles include company-specific long-term and short-term strategies, key offerings and recent developments in the global non-invasive prenatal testing market.
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Indicators such as R&D expenditure, research funding from government and non-profit organizations etc. have been considered to arrive at the indicated market numbers while studying the performance of the global non-invasive prenatal testing market. Yearly change in inflation rate has not been factored in while forecasting market numbers. Bottom-up approach has been used to assess market numbers for each product category, while top-down approach has been used to counter-validate the reached market numbers. The analysts have taken into consideration year-on-year growth to understand the predictability of the market and to identify the right growth opportunities in the global non-invasive prenatal testing market. Another key feature of this report is the analysis of various market segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity analysis is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global non-invasive prenatal testing market. In-depth secondary research has been used to ascertain overall market size, top industry players, top products, and industry associations. The analysts have conducted primary interviews with industry experts, distributors and retailers to arrive at estimated market numbers.