Non-Invasive Prenatal Testing (NIPT) Market To Report Impressive Growth, Revenue To Surge To US$ 1,086.36 Million By 2022
With the presence of a large pool of participants, the global non-invasive prenatal testing (NIPT) market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Ariosa Diagnostics Inc., Berry Genomics Company Ltd, BGI Diagnostics, Illumina Inc., LifeCodexx AG, Natera Inc., Sequenom Laboratories, and Quest Diagnostics Incorporation are some of the key vendors of non-invasive prenatal testing (NIPT) across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the non-invasive prenatal testing (NIPT) market study.
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Citing an instance, in September 2018, Premaitha Health plc—a molecular diagnostics group—stated to have signed a legal settlement and entered a license and supply partnership deal with Illumina Inc., a U.S. based firm manufacturing systems for analyzing genetic differences and biological functioning in humans. The former declared that the settlement resolved the ongoing infringement dispute over non-invasive prenatal testing patent rights between the two firms.
As estimated in this report, the global non-invasive prenatal testing (NIPT) market stood at US$ 590.32 million in 2016. Witnessing a tremendous rise during the period from 2017 to 2022, the revenue in this non-invasive prenatal testing (NIPT) market is expected to reach US$ 1,086.36 million by the end of the forecast period. The key types available in this non-invasive prenatal testing (NIPT) market are Panel 1, Panel 2, and Panel 3. Among the three, the demand for Panel 1 is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.
Massive Application Across Myriad Sectors To Elevate Market Scope
“Benefits such as such as non-invasiveness, high accuracy, and early detection offered by non-invasive prenatal testing (NIPT) is anticipated to fuel the growth of non-invasive prenatal testing (NIPT) market over the forthcoming years,” says the author of this study. Apart from this, massive penetration of non-invasive prenatal testing (NIPT) in the untapped regions of Asia and Latin America along with the constant rise in the average lifespan of mothers are the key growth drivers of non-invasive prenatal testing (NIPT) market. In addition, massive use of non-invasive prenatal testing (NIPT) in hospitals, maternity clinics, and diagnostic clinics is forecast to augment scope of non-invasive prenatal testing (NIPT) market in the years to come.
Substantial ethical and regulatory impediments related to non-invasive prenatal testing (NIPT) implementation, however, are expected to obstruct the expansion of non-invasive prenatal testing (NIPT) market in the years ahead.
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High Incidences Of Chromosomal Abnormalities To Assist Regional Expansion
Regionally, North America has been leading the worldwide non-invasive prenatal testing (NIPT) market and is anticipated to continue on the dominant position in the years to come, states the non-invasive prenatal testing (NIPT) market study. Enhanced awareness about non-invasive prenatal testing (NIPT), growing cases of chromosomal abnormalities, and surging maternal age are some of the key factors behind the dominance of the North America non-invasive prenatal testing (NIPT) market. The presence of large number of key players in the U.S. is another significant factor that is supporting the growth of this regional non-invasive prenatal testing (NIPT) market.
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