The preterm birth diagnostic test kit market is poised for significant growth over the next decade. Projected to reach a valuation of USD 152.2 million in 2024, the market is expected to expand at a compound annual growth rate (CAGR) of 7.6%, achieving a value of USD 316.5 million by 2034. This growth is driven by the increasing demand for economical diagnostic tests that provide swift results for detecting preterm labor and membrane damage.
The global preterm birth rate is rising, which is one of the main factors fueling this market’s expansion. The management of preterm newborns depends heavily on early detection and prompt intervention, which has increased demand for trustworthy and efficient diagnostic test kits. By determining the likelihood of preterm labor, these kits let healthcare professionals take preventative action and enhance infant outcomes.
The market is expanding due to developments in diagnostic technology and growing awareness of the significance of early detection. The market’s promising future is further supported by the increasing expenditure on research & development as well as the expanding use of these test kits in medical institutions throughout the world.
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One of the main factors propelling the market’s expansion is the increased public awareness of preterm birth difficulties and the need of early detection and intervention. It is projected that as healthcare systems around the world prioritize the health of women and infants and close critical gaps in prenatal care, the usage of preterm birth diagnostic test kits will increase dramatically.
The positive outlook for the worldwide market for preterm birth diagnostic test kits emphasizes how important it is for industry participants to keep coming up with new ideas, staying informed, and cooperating. As the industry grows, manufacturers, policymakers, and healthcare professionals will have a great chance to enhance prenatal care and reduce the number of premature births.
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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