The growth of Non Invasive Prenatal Testing market is driven by increased risk of chromosomal abnormalities as maternal age increases, preference for non-invasive techniques over invasive methods, improved reward scenarios for NIPT and increasing awareness of NIPT.
[144 Pages Report] The global 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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On the basis of product and service, 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.
On the basis of application, The trisomy segment accounted for the largest share of the non-invasive prenatal testing. 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.
North America led the market, followed by Europe. A large portion of this market can be attributed primarily to the strong economies of the United States and Canada, which have allowed significant investments in technology in the region. The growth of the North American market is supported by better reimbursement structures for research activities and the existence of favorable funding scenarios, increasing awareness of NIPT, and increasing demand for early detection of birth defects in the region.
Key Market Players
The prominent players in the 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)
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Key Questions Addressed by the Report
- Where will all these developments take the industry in the mid to long-term?
- What types of annual and multi-year partnerships are NIPT product and service companies exploring?
- Which are the key players in the market and how intense is the competition?
- Which are the recent contracts and agreements key players have signed?
- What are the recent trends affecting NIPT product and service providers?