Healthcare & Medical Devices

Platelet and plasma market to witness massive demand in thrombocytopenia treatment applications, cutting edge innovations to characterize the competitive landscape

Posted on

In recent times, platelet and plasma market has procured a position much bigger than anticipated, predominantly on account of the increasing prevalence of chronic blood related diseases like thrombocytopenia, hemophilia, leukemia, and the like. According to CDC’s estimates, nearly 1 out of 5000 male births in America fall prey to Hemophilia. Also, around 400 babies are born with Hemophilia in the U.S. annually. The basic treatment for patients affected with hemophilia A or B is replacement therapy i.e. replacing the specific missing plasma by blood transfusion, which itself stands as a testimony to the commendable scope platelet and plasma market holds in the U.S.

India Platelet and Plasma Market, By Component, 2013 – 2024, (USD Million)
India Platelet and Plasma Market, By Component, 2013 – 2024, (USD Million)

The incidence of immune thrombocytopenia among U.S. adults is also quite alarming – approximately 3.3 per 100,000 adults in a year. As per experts’ opinion, platelet transfusion, in the true sense, has brought a disruption in the treatment of hypoproliferative thrombocytopenia. In fact, American Academy of Neurology even claims that plasma can be used for treating various neurological disorders as well. Ergo, it can be stated that platelet and plasma industry’s penetration in the healthcare space has changed the conventional therapeutic model in ways more than one. The aforementioned estimates vividly depict the humongous growth prospect of U.S. platelet and plasma market, which dominated the overall business space in 2017 with 34% of the global share.

As mentioned above, platelet transfusion has immensely contributed to the revolutionary hypoproliferative thrombocytopenia treatment for patients affected with hematological malignancies and cancer. Undeniably it has left a parallel impact on overall platelet and plasma market share. However, it is worth mentioning that despite the long term application scope of platelet transfusion, all aspects of their optimal usage have not been exploited yet.  Incidentally, this has created novel growth opportunities for research fellows and core companies operating in platelet and plasma market to unlock its potential in unexplored arenas. One such area that is presently grabbing the attention is platelet transfusion in cases of ABO and/or RhD incompatibility.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/2737

Decades back, ABO-incompatibility in platelet transfusion was not considered a hindrance in normal response. In fact, ABO-mismatched platelet transfusion was very much in practice for a long period. However, the issue became apparent when ABO incompatibility between donor and recipient ultimately led to a deterioration in the effectiveness of the transfusion and its adverse impact on the recipient. As per the latest study, ABO- compatible platelet transfusion is claimed to be the safest and most effective approach present today in platelet transfusion practice.

In fact, proper identification of high-risk patients and their treatment by ABO-identical platelets transfusion has shown better results, cite experts. In case of negligible ABO-incompatibility, single donor platelet concentrates or random donor platelets concentrates from A2 “universal” PLT donors might be other alternative approach. These extensive research work coherently validates the underlining expansion of platelet and plasma industry over the recent years. As per estimates, platelets segment having reigned the overall business space in 2017 with USD 3.6 billion revenue, would continue to dominate platelet and plasma market over the ensuing years.

Probably driven by the popularity of these techniques and their massive deployment in treating chronic diseases, platelet and plasma market is characterized by a strong regulatory framework. The FDA takes it upon itself to reject or approve any new device that debuts in the market. Recently the U.S. FDA has given a green signal to new drug that could treat thrombocytopenia in adults. Dubbed as Doptelet, this new drug is likely to improve the platelet count of patients suffering from chronic liver diseases. Reportedly, this is the first FDA approved drug in platelet and plasma industry in this genre. All in all, with the continuous onboarding of such technologically advanced plasma and platelet products in tandem with growing precedence of blood associated diseases, platelet and plasma market is set to exceed a valuation of USD 6.5 billion by 2024.

Author NameSatarupa De

Advertisements

Insulin delivery devices market to witness phenomenal growth via insulin pen sales, global industry to surpass USD 19 billion by 2024

Posted on

Over the past few years, insulin delivery devices market has emerged as one of the most lucrative verticals of the diabetes management industry, given the unprecedented growth in technologies that partially changed the way this chronic disease was managed earlier. The recent announcement by the renowned insulin delivery devices industry giant Tandem Diabetes Care regarding the successful FDA approval of its t:slim X2 Insulin Pump with Basal-IQ technology, is quite an instance validating the product innovation trends underlining the business landscape of this industry.

U.S. Insulin Delivery Devices Market, By Product, 2013 – 2024 (USD Billion)
U.S. Insulin Delivery Devices Market, By Product, 2013 – 2024 (USD Billion)

Incidentally, Basal-IQ is a PLGS (predictive low glucose suspend) feature designed to help lower the duration & frequency of hypoglycemia. Reports in fact claim that Tandem’s device featuring Basal-IQ algorithm looks 30 minutes into the future to foresee where the glucose levels are heading. With such technological innovations & product enhancements in line, it is rather overt that Tandem is set to witness a lucrative growth graph in the years ahead.

Eli Lily is another popular name in the insulin delivery devices industry that has been making it to the headlines for developing innovative diabetes management platforms as a part of its Connected Diabetes Ecosystem. The company known for manufacturing insulin is now actively testing its own device that looks similar to a connected insulin pen with in-built software to create personalized insulin dose and glucose-sensing technology. Depending upon the FDA clearance, Lilly anticipates these technologies to hit the market in two to three years.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/1649

A couple of decades back, novel product launches had not been the order of the day, despite a steady increase in the incidences of diabetes, leading a massive gap between the disease prevalence and disease management tools. Today however, with the pace of product diversification continuing to race ahead, industry analysts expect this trend to help bridge the critical gap in the current diabetes healthcare landscape. The insulin pen market in this regard is expected to witness a massive remuneration portfolio, having bagged over USD 6.5 billion in 2017. One of the fundamental reasons behind the enviable popularity of insulin pens is their increasing demand in the low-income group.

Insulin pump is another important product gaining considerable traction, given its minimally invasive nature. The insulin pumps are not only endowed with the unmatched combination of features like convenience, efficiency, needless insulin delivery, and portability, but they also eliminate the necessity of daily insulin injection dosage. Reports claim the insulin pump market to witness a CAGR of 7.5% over 2018-2024, having garnered USD 1.9 billion in 2017. Looking at the pace of technological developments with respect to insulin pumps, it is quite undeniable that the insulin pump segment will be one of the most progressive business spaces to unfold in the following years. However, the high-product cost associated with these pumps is set to act as a major roadblock in the business expansion.

Geographically, U.S. is one of the most outperforming region that has secured a major chunk in the insulin delivery devices market. Accounting for 95% of the overall regional share in 2017, U.S. has been a major revenue pocket for the global insulin delivery devices industry. The rising prevalence of diabetic population with the robust advancements in the healthcare services have been listed as the prime factors leading to increased product demand. Other emerging economies such as China and India are also expected to gain massive growth trends, given the rapid governmental initiatives undertaken to develop healthcare infrastructure and awareness regarding diabetes management.

It has been estimated that in the not-so-distant future, diabetes will turn out to be the 7th leading cause of mortality. In fact, according to WHO, an estimated 1.6 million deaths were directly linked to diabetes in 2015 and diabetes prevalence has been raising more prominently in the middle & low-income countries. This not-so-pleasant scenario has indeed been the most significant factors that has fortified the growth of insulin delivery devices market. The rapid pace of technological developments and introduction of novel products are sure to bring massive investment trends in this business sphere in the coming years. A report by Global Market Insights, Inc., forecast the overall insulin delivery devices market size to register a CAGR of 6.5% over 2018-2024.

Author NameOjaswita Kutepatil

Ambulatory surgical centers market to surpass a mammoth benchmark of $93 billion by 2024, the lure of considerably lower healthcare costs to massively upsurge the industry expansion

Posted on

Ambulatory surgical centers market has received a commendable stimulus in recent times, subject to the potential of these centers to help avoid scheduling delays, slow operating room turnover times and challenges in obtaining new equipment due to hospital budgets and policies. Additionally, privacy is a major concern in hospitals which can often be stressful environments for patients. Ambulatory surgical centers provide very effective solutions for surgeries that can be completed within a few hours and require minimal after-surgical care. Indeed, ophthalmological and dental surgeries have already contributed toward the cumulative traction registered by ambulatory surgical centers market. This is essentially because these surgeries involve minimized risks and can be very efficiently conducted within a few hours without requiring overnight stays.

UK Ambulatory Surgical Centers Market, By Ownership, 2013 – 2024, USD Billion
UK Ambulatory Surgical Centers Market, By Ownership, 2013 – 2024, USD Billion

Pertaining to the convenient nature of ambulatory surgical centers, there has been a major shift in the preference of venue for pivotal procedures. Convenience, lower out-of-pocket costs for patients, and decreased cost-per-case for insurers are some of the major factors that can be credited for this change of inclination toward ambulatory surgical centers over outpatient hospital departments. In 2011, an analysis showed that surgeries performed at ambulatory surgery centers saved Medicare $829 million when compared to costs for the same surgery in hospitals. The cost-effective factor alone is a principal factor augmenting ambulatory surgical centers industry outlook.

The rising geriatric population in the U.S. is one of the major factors that has added stimulus to the regional ambulatory surgical centers market. However, analysts have pointed out that relatively younger patients with a higher income are also likely to undergo surgery in ambulatory surgical centers. In addition to this, patients also have to pay much lower coinsurance for procedures performed in these centers than they have to pay in hospitals. For example, for a cataract extraction procedure, a Medicare beneficiary could have to pay as much as $496 in coinsurance when the procedure is performed in a hospital outpatient department. The same procedure performed at an ambulatory surgical center would mean that the beneficiary’s copayment is only around $195. The increasing awareness regarding the benefits of these centers has majorly driven U.S. ambulatory surgical centers industry trends.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/2553

With lower reimbursement rates, ambulatory surgical centers market is bound to receive more promotion from payers, a phenomenon which will facilitate a competitively priced healthcare scenario. This is because outpatient hospital departments will be forced to reconsider healthcare prices in order to preserve consumer revenue. However, lower costs do not affect the quality of service provided at ambulatory surgical centers, as these care sites endorse a limited number of procedures with a high level of professionalism and maximum patient satisfaction.

Speaking about the care quality, it would be imperative to mention that during a three-month study period in 2007, it was found that 71% of ambulatory surgical centers did not have a single complication per 1,000 patient encounters and 69% did not have to transfer patients to hospitals. As compared to hospitals, ambulatory surgical centers also registered less spread of infections which resulted in more than 90% of ambulatory surgical centers reporting 3 or fewer infections per 1,000 patients. In fact, studies overwhelmingly show that the quality of care delivered in ambulatory surgical centers is equal to or better than comparable hospital care. This prime factor has indeed played a major role in impelling ambulatory surgical centers market share. Convenient scheduling and reliable service also prompt patients to choose these sites. For example, nearly a third of ambulatory surgical centers report that greater than 90% of their surgeries start within 7 minutes of the time the procedures are scheduled to begin.

Healthcare being one of those fields that incur major expenditure for the nation, it is prudent on the part of the government to promote the growth of ambulatory surgical centers industry. As per statistics, procedures performed in a hospital outpatient department cost Medicare 54% more on an average than for the same procedure when performed in an ambulatory surgical center. Currently, akin to the U.S Department of Health and Human Services, many other regional regulatory healthcare organizations have come to recognize the benefits of ambulatory surgical centers. Given that they significantly reduce costs for Federal health care programs while simultaneously benefiting patients, analysts have forecast ambulatory surgical center market size to register a CAGR of 5% over 2017-2024.

Author NameParoma Bhattacharya

Endoscopy market to be defined by extensive research & development programs, global industry to surpass USD 40 billion by 2024

Posted on

Once considered a highly risky procedure, minimally invasive surgeries have now gained extreme popularity, fueling endoscopy market share. As this type of surgery delivers an excellent outcome by reducing injury to the tissues, the use of endoscopy has increased lately across the medical domain. Considering the escalating acceptance of this non-surgical procedure across myriad hospitals, endoscopy industry giants have been steadfastly working toward advancing existing endoscopic systems. The frequent launch of technologically advanced minimally invasive surgical instruments along with the development of numerous suturing procedures is certain to propel endoscopy market trends over the years ahead.

U.S. Endoscopy Market, By Product, 2013 – 2024 (USD Billion)
U.S. Endoscopy Market, By Product, 2013 – 2024 (USD Billion)

Endoscopies come with a slew of advantages, enabling doctors to perform any critical operation without the need for major surgery, while simultaneously facilitating a shorter period of recovery with lesser risk of complications. Taking into account the operational benefits of endoscopy, most of the research communities and leading healthcare facilities are now looking forward to brainstorming new techniques across this vertical. In fact, many healthcare service providers have even been joining hands to establish training centers, through which they plan to deploy minimally invasive endoscopy facilities across the globe on a large scale.

Validating the aforementioned fact, few days before, the Thailand based medical facility provider, Samitivej Hospital signed a deal with Sano Hospital, a Japanese healthcare facility specializing in endoscopy. Sano is renowned for its development of gastrointestinal endoscopy techniques, which could be extensively used for detecting cancerous tissues. Through this partnership, the two parties have introduced new gastrointestinal endoscopy techniques that can help in the removal early-stage tissues of esophageal, colorectal, and gastric cancers. As per statistics, colon cancer is one of the leading causes of deaths across the world. Reportedly, cases of colon cancer have been increasing from last few years and it has become a most influencing factor for the rise of mortality rate across Thailand.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/2655

Speaking along the same line, this cooperation program will also emerge to be quite beneficial for the Thai medical facility, considering the expertise that Sano Hospital possesses with regards to endoscopy techniques. In addition, with the help Sano’s latest innovation, Samitivej Hospital also plans to encourage its Liver and Digestive Institute better serve the patients suffering from alcohol induced problems, colorectal cancers, fatty liver diseases, gallstones, and infections. The Samitivej-Sano agreement is an apt instance depicting the collaborative approach of numerous healthcare service providers and how they will serve to enhance the future prospects of endoscopy industry.

Arthroscopy is another application arena that has been gaining renewed prominence in the endoscopy market of late. The growing concern among the specialists about the disadvantages of a traditional approach to diagnosing femoroacetabular impingement, labral tears, and other issues related to hip joints has been encouraging them to innovate next-gen instruments. Recognizing the significance of educating research scholars about the effective treatment of hip impingements, many U.S.-based medical centers and universities have included hip arthroscopy in their syllabus. This approach of medical education centers will help them treat rapidly increasing number of cases of hip impingements effectively, owing to the ample availability of trained professionals. The use of endoscopy in arthroscopy applications leads to the minimization of post-operative pain and other associated comorbidities. The post-treatment benefits of arthroscopy treatment in terms of recovery and comfort are certain to fuel U.S. endoscopy industry size.

The approach of leading endoscopy market giants and well-known research institutes toward product development and innovations will prove to be one of the revenue generating aspects for this vertical. As the requirement of products for diagnosing various kinds of terminal diseases increases, the deployment of minimally invasive surgery equipment will also observe an upsurge, generating lucrative opportunities for the players in endoscopy industry. In addition, many hospitals specializing in endoscopy have been lately organizing training programs to educate doctors and nurses about newly invented technologies related to the field. With the rise in the popularity of minimally invasive surgeries and the increasing number of R&D programs, endoscopy market will register a CAGR of 6% over 2018-2024.

Author NameSunil Hebbalkar

Orthodontic supplies market to witness massive growth opportunities in the U.S., with anticipated regional CAGR of 8.8% over 2018-2024

Posted on

Orthodontic supplies market has gained a substantial traction over the recent years, by virtue of the incredible advancements in clinical research with regards to dental science. Though orthodontic practices have been around since many years, the commercialization matrix of the business space has ascended exponentially in recent times, in sync with the increasing precedence of malocclusion across the globe. According to estimates, presently around 60%-75% of the global population suffers from misaligned teeth or malocclusion. Statistics related to Asia Pacific is indeed daunting with more than 50% of the APAC population affected with malocclusion. These estimates vividly project the lucrative growth prospects of orthodontic supplies market, which pegged a valuation of USD 3.8 billion in 2017.

Japan Orthodontic Supplies Market, By Product, 2013 – 2024 (USD Million)
Japan Orthodontic Supplies Market, By Product, 2013 – 2024 (USD Million)

Children & teenagers can be aptly addressed as one of the strong end-users of orthodontic supplies industry, the section having procured a lion’s share of almost USD 3.2 billion in yesteryear. Reportedly, the prime factor fueling the growth of orthodontic supplies market in this sector is the massive surge in the number of teeth misalignment cases among teenagers and children at a global scale. In fact as per a recent survey, nearly 75% children and teens face some kind of orthodontic problems when their adult teeth are grown. According to the American Association of Orthodontics, out of the 4.5 million Americans who use teeth braces, most of them are children and teenagers. Around 80% of the undergoing treatments in the country vary in the range of 6 to 18 years of age.

Not to mention, the data bears a testimony to the significantly increasing demand for orthodontic supplies market across U.S.  As per a reliable market assessment report, the regional orthodontic supplies market was worth USD 1.5 billion in 2017 and is slated to maintain its dominance in the global landscape over the ensuing years as well. Not just children and teens, the popularity of orthodontic treatments is also growing among U.S. adults, subject to the burgeoning desire to improve their jaw line.  As per a new study conducted by American Association of Orthodontists- over one-third of American adults are unhappy with their smile. This in effect, is set to create a massive demand for advanced orthodontic treatments in the country, leaving a perpetual impact on U.S. orthodontic supplies industry share.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/2005

Speaking of the growth prospect of the market, it is imperative to mention that like any other healthcare and medical device domain, orthodontic supplies industry is also regulatory driven. In fact, the regulatory backing has been a critical parameter to trace the dentistry industry trends in terms of revenue opportunities. The Affordable Care Act (ACA) mandates the insurers to offer proper dental care for children, provide funding for dental training and education, and set up efficient dental pilot programs etc. The initiatives are intended at widening the reach of dental practices across areas of critical need.

Boasting of a rich corporate portfolio, the orthodontic supplies industry is highly competitive. In the light of such scenario, technological advancements in product design stand as a vital quotient defining the profit parameters for the market contenders. In a recent turn of events across the MEA orthodontic supplies market, renowned 3D digital scanner manufacturer, Align Technology announced the launch of its innovative iTero Element intraoral scanner. This breakthrough scanner is claimed to offer regional orthodontists an absolute state-of-the-art digital solution, that can scan in just 1 minute with high accuracy, precision, and visualization capabilities. Inherently stimulated by a barrage of tech benefactors bringing groundbreaking innovations in tandem with commendable governmental backing, orthodontic supplies industry is certain to enroll its name among one of the most remunerative business spheres in the healthcare fraternity.

Author NameSatarupa De

Dermatology devices market to witness phenomenal gains in the U.S., increasing regional prevalence of skin cancer to boost the growth

Posted on

Dermatology devices market, an integral vertical of medical equipment space, of late, has been providing lucrative opportunities to the investors to exploit economies of scale. The claim is very well validated from the increasing attempts by the market giants to brainstorm innovative products that prove to be highly profitable for the consumers. However, the regulatory, tax, and financial issues associated with dermatology practices are some of the pivotal factors massively influencing the dermatology devices industry trends.  Perhaps driven by the fact that dermatological practices include lab testing, ASC-based surgery, cosmetics and other services all under the same roof, this particular business vertical is overtly subject to stringent regulatory norms.

U.S. Dermatology Devices Market, By Product Type, 2013 – 2024 (USD Billion)
U.S. Dermatology Devices Market, By Product Type, 2013 – 2024 (USD Billion)

For the record, since 2011, eight new therapies have been approved by the FDA for the treatment of patients affected with metastatic melanoma, including four targeted therapies and four immunotherapy agents. In this regard, it is prudent to mention that since the millennium, targeted immunotherapy for patients affected with psoriasis has become a subject of focus for clinical research. This in consequence has led to the development of a plethora of new devices that are absolutely in compliance with the FDA regulations, which by extension has catapulted dermatology devices market size. Testament of the fact is the USD 8.4 billion revenue garnered by the business vertical in 2017.

One of the pivotal rationales behind the accelerated growth of dermatology devices market is the extensive penetration of laser and light therapy devices (LED) in skin treatments. It has been observed that skin responds well to near-infrared wavelengths when delivered with therapeutic intent at correct proportion. This pointer effectively justifies the hoopla created around low level laser therapy for skin treatments. In fact, light therapy devices held a significant share of dermatology devices market in 2017 and is slated to witness a double digit CAGR of 10.8% over 2018-2024.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/2644

These non-invasive skin therapies are gaining a huge popularity especially across western countries where disposable incomes are relatively high and the desire to hold an ideal appearance is quite pronounced. Below mentioned is the yesteryear’s statistics of the top five non-surgical procedures practiced in U.S. that further affirm the aforementioned declaration.

Name of the procedure  Number of procedures performed
Botulinum Toxin 1548263
Hyaluronic acid 722394
Non-surgical fat reduction 180833
Chemical peel 118523

Source: Statista

These estimates serve to testify that U.S. is of the most profitable investment destinations for dermatology devices industry players. As per a recent research assessment, the regional dermatology devices market procured almost 92% of the overall industry share in 2017 and the supremacy is likely to continue over the ensuing years. Another factor that has fueled advanced dermatology devices demand in the country is the increasing prevalence of skin cancer across this belt. In fact, estimates indicate that diagnosis and treatment of nonmelanoma skin cancer in the U.S. increased by almost 77 % over 1994-2014. As per the American Cancer Society, 9320 casualties in U.S. is expected to occur from melanoma, which is claimed to be the deadliest form of skin cancer, this year- a figure that in all plausibility would leave a highly remunerative impact on U.S. dermatology devices industry.

Speaking of the corporate profile, renowned biggies encompassing dermatology device market have been making agonizing attempts to effectuate the commercialization of advanced diagnostic devices that have the potential to disrupt the business dynamics. In this regard, one of the distinguished innovations that has lately gained all attention in dermatology devices market is the AI computer that is deemed to possess an unmatched efficiency level. Allegedly, the specially programmed device’s deep learning CNN (convolutional neural network) could detect skin cancer more precisely than 58 dermatologists. The research team spanning across Germany, U.S., and France recently published the study in a journal named Annals of Oncology.

Not to mention, besides technology interventions, regulatory adherence remains the top-notch priority underlining the product landscape of dermatology devices market. In a recent turn of events, Hologic’s division Cynosure launched an FDA approved dermatology device, dubbed as TempSure Envi. This groundbreaking radiofrequency-based device is claimed to improve the skin texture by minimizing fine lines, wrinkles, and tightening pores. It is therefore apt to state that the backing of administrative bodies in tandem with incessant product innovations would carve lucrative roadmap for the dermatology devices industry. In terms of renumeration, the global market share is projected to surpass a massive valuation of USD 17 billion by 2024.

Author NameSatarupa De

A concise outlook of prenatal and new-born genetic testing market in terms of product innovations, U.S. to emerge as a major revenue pocket

Posted on

Sema4’s latest DNA screening test is a typical precedent underlining the advancements across prenatal & new-born genetic testing market. Recently launched, this pioneering DNA screening test, dubbed as Sema4 Natalis, is particularly designed to detect nearly 193 childhood onset genetic diseases, using highly advanced next generation DNA sequencing. Reportedly, the test would be also including a complete pharmacogenetic analysis of how a newborn is likely to respond to the 38 medications that are commonly prescribed. Indeed, this supplemental newborn screening test is touted to be one of the most futuristic ones of its kind to have been released in prenatal and new-born genetic testing market , especially against a backdrop where nearly 7.9 million infants globally are detected with birth defects.

U.S. Prenatal and New-born Genetic Testing Market, By Technology, 2013 – 2024 (USD Million)
U.S. Prenatal and New-born Genetic Testing Market, By Technology, 2013 – 2024 (USD Million)

The United States: One of the top-notch growth avenues for prenatal and new-born genetic testing market

Newborn and prenatal screening was actually initiated due to its potential to prevent severe genetic disabilities. In fact, according to latest report, currently more than 98% of the 4 million newborns in the United States undergo genetic screening annually for over 30 treatable genetic, endocrine, infectious, and metabolic diseases within first week of their birth. Not to mention, this has left a remunerative impact on U.S. prenatal and new-born genetic testing market, which pegged a valuation of approximately USD 2 billion in 2017.

It is therefore irrefutable that the underlining principle that lurks behind the introduction of groundbreaking solutions in prenatal and new-born genetic testing industry is the dire necessity of reducing mortality and morbidity rate in infants having inherent genetic disorders. Experts claim that identifying the heritable conditions at early stage can improve a child’s long-term health and survival. However, as it has been observed, the number and type of genetic disorders that are included in newborn screening vary geographically. Say for instance, presently there are 34 core hereditary conditions and 26 secondary conditions that are recommended by the United States Department of Health and Human Services for newborn screening. Thus, it can be inferred that administrative backup is a major factor influencing prenatal and new-born genetic testing industry outlook.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/1906

How advancements in prenatal diagnosis is impacting the overall industry trend?

Corresponding to the continuous intervention of technological advancements, the present practice of prenatal screening, i.e. testing genetic abnormalities even in the fetus, has undergone a dramatic transformation of sorts. Non-invasive cell-free DNA screening for fetal aneuploidy, whole-exome sequencing, chromosomal microarray analysis, and screening for subchromosomal abnormalities, have indeed sent out waves of anticipation in prenatal and newborn screening market. Enlisted below are some of the latest initiatives encompassing this particular business vertical, expected to leave a palpable impact on the overall industry share over the coming years.

  • LifeCell, one of the leading names in India prenatal and new-born genetic testing market, has recently launched ‘Pentastic’ – a prenatal test designed to detect genetic abnormalities in fetus. Allegedly, this ultrasound biochemistry-based blood test is recommended for would be mothers in the first trimester of pregnancy i.e., between 11 to 13 weeks. As claimed by experts, Pentastic test is likely to gain an advantage over other conventional prenatal screening, as it incorporates five analytes (PAPP-A + free hCGß + AFP + Inhibin-A + PIGF), against its contemporaries which include only two analytes. Experts have been already raving about the technology claiming it to prominently disrupt the prenatal and new-born genetic testing industry product terrain.
  • Renowned American molecular diagnostics company Myriad Genetics has recently made to the headlines with its acquisition of Counsyl. The USD 375 million worth deal, reportedly is a strategic move by former to strengthen its portfolio in the rapidly evolving prenatal and newborn genetic testing market with Counsyl’s Prelude test portfolio. Through the alliance, Myriad Genetics would be merging Counsyl’s extensive reproductive health tests and existing preventive care business into a new unit, dubbed as Myriad Women’s Health. For the records, this new unit would be solely focusing on reproductive healthcare providers and OB-Gyns.

It is imperative to mention that the unprecedented advancements in genomic medicine are critically impacting prenatal diagnosis, subsequently boosting prenatal and new-born genetic testing industry size. Of course, the full potential of the business space can only be realized if these groundbreaking innovations are introduced in a substantiation-based ethically responsible manner and securitized after implementation. However, with genetic abnormalities and chromosomal disorders in infants becoming a global concern, prenatal and new-born genetic testing industry, in all likelihood, would reach remarkable stature in terms of innovations and revenue. Global Market Insights, Inc. forecasts the overall business space to exceed a valuation of USD 7 billion by 2024.

Author NameSatarupa De