The global preterm birth diagnostic test kit market is on track for substantial growth, projected to reach a valuation of USD 152.2 million in 2024. According to industry forecasts, the market is anticipated to expand at a compound annual growth rate (CAGR) of 7.6%, reaching USD 316.5 million by 2034.
In 2021, the preterm birth diagnostic test kit sector accounted for approximately 1% of the global rapid diagnostic test kit industry. Despite this modest share, the market holds significant growth potential, particularly in the developing economies of Asia Pacific, the Middle East, and Africa. The lack of awareness about preterm diagnostic kits in these regions presents numerous lucrative opportunities for market vendors.
High hospital admission costs place a financial burden on individuals relying on out-of-pocket expenditures for preterm diagnostic solutions. Preterm diagnostic test kits, known for their affordability and rapid results, are becoming increasingly popular. These kits are essential for the timely detection of preterm labor and membrane damage, offering a cost-effective alternative to traditional hospital-based diagnostics.
The growing demand for economical diagnostic tests is expected to drive the sales of preterm birth screening kits significantly between 2024 and 2034. This trend underscores the importance of accessible and affordable healthcare solutions in managing preterm births.
For the purpose of identifying and treating preterm labor, diagnostic test kits for premature delivery are necessary. They also provide doctors with essential information that improves outcomes for expectant mothers and their children. Preterm deliveries are becoming more common, and it is critical to identify and care for these newborns as away. These reasons are leading to an increase in the need for innovative diagnostic techniques on a global scale.
Since preterm delivery is a leading cause of infant death and morbidity worldwide, early detection and intervention are crucial to avert detrimental outcomes. The market for preterm birth diagnostic test kits is being driven by the pressing need to detect high-risk pregnancies and implement timely interventions.
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Key Findings Presented in the Report on the Preterm Birth Diagnostic Test Kits Market:
According to the data, the number of births in 2017 was roughly 115.4 million, of which 12.8 million or 11.1% were preterm. Preterm birth problems are the biggest cause of death for children under the age of five, according to the World Health Organization. In 2015, they were directly responsible for around one million deaths. Of these, cost-effective measures can avoid three-quarters of these deaths. Across different regions, preterm birth diagnostic test kit adoption rates varied from 2% to 15%. A substantial chunk of the preterm birth test kit market has gone untapped, leaving it open for manufacturers of preterm diagnostic test kits. This is because the majority of the current patient pool is ignorant of the cost-saving advantages of preterm birth diagnostic test kits.
Analysis of the Preterm Birth Diagnostic Test Kits Market:
The most common sample used for preterm labor and premature membrane rupture diagnosis in preterm birth diagnostic test kits is blood. The most popular and widely recognized preterm birth diagnostic test kits among end users are those that employ blood samples for preterm birth diagnosis. On the other hand, preterm birth diagnostic test kits using vaginal discharge sample type are becoming more and more common.
Patients experiencing symptoms of preterm birth are primarily referred to hospitals, outpatient clinics, and diagnostic laboratories that use preterm birth diagnostic tests. Because they are the principal healthcare institution for preterm cases, hospitals are expected to account for the majority of the revenue share under the end users segment for the preterm birth diagnostic test kits market in 2017.
Preterm Birth Diagnostic Test Kits Market – Competitive Landscape:
The key players of this market are adopting strategies such as product launch, acquisition, partnership and collaborations to gain expand their market presence and open up new streams of revenue generation.
- In June 2021, Medix Biochemica announced the launch of a new molecular diagnostic reagents division named “MedixMDx” to offer extensive range of products and services for their customers.
- In September 2020, QIAGEN announced the acquisition of NeuMoDx Molecular Inc., which helped the company to complete their product portfolio of PCR technology based automated molecular testing solutions.
- In May 2021, Sera Prognostics announced a strategic commercial partnership with Anthem Inc., to make their “PreTRM® “tests available to all the customers of Anthem in the U.S.
Since the awareness of preterm birth diagnostic test kits is increasing, the demand for these kits will rise in the next few years. This creates many lucrative opportunities for the key players of this industry.
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Key Companies Profiled:
- Qiagen
- Medix Biochemica
- Hologic Inc.
- Sera Prognostics
- IQ Products
- Creative Diagnostics
- Nanjing Liming Biological Preparations Co., Ltd.
- Clinical Innovations, LLC
- Bioserv Diagnostic GmbH
Preterm Birth Diagnostic Test Kits Market, By Category:
Product:
- ffN Test
- PAMG-1 Test
- IGFBP-1 Test
Sample:
- Blood
- Urine
- Vaginal Discharge
End User:
- Hospitals
- Diagnostic Laboratories
- Outpatient Clinics
- Research Centers
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle-East & Africa
- APECJ
- China
- Japan
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