Non-Invasive Prenatal Testing Market Identifies the Key Drivers of Growth and Challenges of the Key Industry Players
The global non-invasive prenatal testing (NIPT) market was valued at $563.4 million in 2014, and it is expected to grow with a CAGR of 17.6% during the period 2015 - 2020. The increase in average maternal age is resulting in the growth of the global NIPT market. Chromosome syndromes are caused, due to chromosomal abnormalities in the humans, which is leading to genetic cause of miscarriage and congenital birth defects. According to the World Health Organization (WHO), each year approximately 3,000 to 5,000 children are born with chromosome disorder. Thus, with the increase in chromosome syndrome cases, the need for early and advance prenatal screening is increasing, which is resulting in increased demand for NIPT.
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The testing and screening for fetal abnormalities has changed the women’s experience of pregnancy. Prenatal tests are medical tests performed during the pregnancy, in order to determine the development of fetus. However, various committees across the globe believe that the implementation of NIPT and consequent increase in prenatal testing would increase the incidence of abortions.
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However, certain restraints such as strict regulatory requirements and ethical hurdles are hindering the growth of the market. The increasing awareness about NIPT and improving healthcare facilities in developing countries, such as China and India, are laying significant growth opportunities for NIPT market. The Asia-Pacific market is expected to witness the fastest growth (CAGR 18.1%) globally during the period 2015 – 2020.
The key companies operating in the global NIPT market include Sequenom Inc., BGI, LifeCodexx AG, Quest Diagnostics Incorporated, Hoffmann-La Roche Ltd., Illumina Inc., Berry Genomics Co. Ltd., Laboratory Corporation of America Holdings, and Natera Inc.
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