The New Born Screening Market is estimated to be valued at US$ 1,412.2 Mn in 2023 and is expected to exhibit a CAGR of 10.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The New Born Screening Market involves testing newborn infants for a range of genetic, metabolic, and congenital disorders. This screening is crucial in identifying any potential health issues at an early stage, allowing for timely intervention and treatment. The market offers various screening tests such as heel-prick blood tests, hearing tests, and screening for critical congenital heart defects. These tests help in the early detection of diseases and enable healthcare professionals to provide appropriate care and treatment to newborns. The increasing prevalence of genetic disorders and the growing awareness about the benefits of newborn screening programs are expected to drive the market growth.
Market Dynamics:
The New Born Screening Market is primarily driven by the rising incidence of genetic disorders among newborns. Genetic disorders can lead to various health complications, which can be detected and managed through early screening. Additionally, the increasing government initiatives to implement newborn screening programs are also contributing to market growth. Governments worldwide are focusing on improving healthcare infrastructure and providing financial support for newborn screening initiatives. The growing emphasis on preventive healthcare and the rising demand for targeted and personalized medicine are expected to further propel the market growth in the coming years. However, the high cost associated with newborn screening tests and the lack of awareness in some regions may hinder market growth to some extent. Nevertheless, advancements in screening technologies and the development of innovative screening tests hold significant potential for market expansion in the future.
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Market Drivers:
- Increasing prevalence of newborn diseases and genetic disorders:
The New Born Screening (NBS) market is being driven by the rising prevalence of newborn diseases and genetic disorders. According to the World Health Organization (WHO), around 303,000 newborns die within the first 4 weeks of life due to congenital anomalies and genetic disorders. Additionally, around 3% to 4% of children worldwide are born with major birth defects. The need to identify these conditions at an early stage and initiate appropriate treatment has led to the increased adoption of newborn screening tests.
Newborn screening allows for the early detection of diseases such as phenylketonuria, cystic fibrosis, and sickle cell disease, among others. Early detection and intervention can significantly improve the health outcomes of newborns, preventing disabilities and even death. This has led to the implementation of comprehensive newborn screening programs in many countries, driving the growth of the NBS market.
Furthermore, advancements in technology, such as next-generation sequencing (NGS), have further enhanced the capabilities of newborn screening tests by enabling the detection of a wider range of diseases. The increasing awareness among healthcare professionals about the benefits of early detection and interventions has also contributed to the market growth.
- Government initiatives and favorable reimbursement policies:
Government initiatives and favorable reimbursement policies are playing a crucial role in driving the growth of the New Born Screening market. Many governments across the globe are recognizing the importance of newborn screening in reducing the burden of disease and improving child health outcomes. As a result, they are implementing comprehensive newborn screening programs and providing financial support for the implementation and maintenance of these programs.
For example, in the United States, the Centers for Disease Control and Prevention (CDC) provides funding to state health departments for the implementation and management of newborn screening programs. Additionally, the Affordable Care Act (ACA) requires private insurers to cover newborn screening tests without cost-sharing.
Similarly, other countries, such as the United Kingdom, Australia, and Canada, have also implemented nationwide newborn screening programs with government funding and support. These initiatives and reimbursement policies encourage healthcare providers to offer newborn screening services, thereby driving the growth of the NBS market.
Market Restraints:
- Lack of awareness and infrastructure in developing countries:
One of the major restraints for the New Born Screening market is the lack of awareness and infrastructure in developing countries. While developed countries have well-established newborn screening programs, many developing countries lack the necessary infrastructure, funding, and trained healthcare professionals to implement and maintain such programs.
Limited resources and lack of awareness among healthcare professionals and parents about the benefits of newborn screening pose significant challenges for the market. The high cost of screening tests and the need for specialized equipment and trained personnel further impede the adoption of newborn screening in these countries.
- Ethical and social concerns:
Ethical and social concerns surrounding newborn screening pose another restraint for the market. The implementation of newborn screening programs raises questions about privacy, consent, and the potential psychological and social impact on families.
There are concerns about the storage and use of newborns’ genetic information, as well as the potential for discrimination based on genetic profiles. The screening tests themselves may also lead to false-positive results, causing unnecessary anxiety and stress for parents.
Additionally, cultural and religious beliefs may also impact the acceptance and implementation of newborn screening in certain communities. These ethical and social concerns need to be addressed through appropriate policies and regulations to ensure the responsible and equitable implementation of newborn screening programs.
𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐓𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐩𝐨𝐫𝐭 𝐖𝐢𝐭𝐡 𝐔𝐩 𝐓𝐨 𝟐𝟓% 𝐎𝐅𝐅 @ https://www.coherentmarketinsights.com/insight/buy-now/2192
| The market size value in 2023 |
Table of Contents with Major Points:
Executive Summary
- Introduction
- Key Findings
- Recommendations
- Definitions and Assumptions
Executive Summary
Market Overview
- Definition of New Born Screening Market
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Trends and Developments
Key Insights
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global New Born Screening Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
Conclusion
Appendix
- Data Sources
- Abbreviations
- Disclaimer
TOC Continued…!
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