The global market for noninvasive prenatal testing (NIPT) features a largely fragmented vendor landscape owing to the presence of a number of well-established and well-funded companies across key regional markets, observes Transparency Market Research in a recent report. In the highly dynamic marketplace, companies are more focused on improving technological prowess to bring to market devices with a high level of accuracy and reduced duration of result generation. Owing to the vast growth opportunities in cost-sensitive regional markets such as Asia Pacific, focus on the development of economical products has also significantly increased in the past few years.
Some of the leading companies operating in the global NIPT market are Illumina Inc., Ariosa Diagnostics Inc., Laboratory Corporation of America Holdings, Sequenom Inc., LifeCodexx AG, Berry Genomics Co. Ltd., BGI Diagnostics, and Natera Inc.
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Transparency Market Research (TMR) estimates that the global NIPT market is expected to emerge as a high-promise market in the next few years, exhibiting an exponential CAGR of 17.5% from 2014 to 2022, rising from a valuation of US$0.5 bn in 2013 to US$2.38 bn by 2022.
North America to Continue to Command Immense Control over Global NIPT Market
Of the key noninvasive prenatal tests used across the globe, the MaterniT21 PLUS segment accounted for over 36% of the overall global revenue in 2013. The segment is, however, projected to lose promise over the forecast period owing to the increased commercialization of tests such as NIFTY, Verifi, Panorama, and Bambni. From a geographical standpoint, the NIPT market in North America dominated the global market in terms of revenue contribution in 2013, accounting for a massive 58.8% of the global market. The presence of several leading NIPT companies in the U.S. and the high level of awareness regarding the vast benefits of noninvasive prenatal tests in the region will continue to fuel the demand for advanced noninvasive prenatal tests in the near future as well.
Rising Number of Women Choosing Late Pregnancies to Provide Vast Growth Opportunities to Global NIPT Market
The market for NIPT across the globe is expected to significantly benefit from the rising average maternal age in a number of key regional markets. With Europe and North America being some of the leading regions in these regards, emerging economies in regions such as Asia Pacific and Latin America are also rapidly advancing on these fronts owing to the rising number of working women. The rising rate of incidence of babies born with Down’s syndrome is also massively pushing up the demand for prenatal tests, with noninvasive ones gaining increased preference owing to the high level of safety they guarantee.
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Regulatory Hurdles for Approval to Hold Back Market
Although the market has mostly positive growth opportunities, its projected momentum could be hindered owing to few factors such as strict regulatory guidelines and ethical hurdles slowing down the process of approvals and marketing, limitations of noninvasive tests, and the availability of alternate testing and screening methods. Regulatory hurdles could especially come across as a huge challenge in developed economies in Europe and North America where companies are required to undergo a lengthy procedure of safety tests to gain approvals.
This review of the global noninvasive prenatal diagnostics market is based on a recent market research report by Transparency Market Research, titled “Non-invasive Prenatal Testing (NIPT) Market (Test Type – BambniTest, Harmony, informaSeq, MaterniT21 PLUS, NIFTY, Panorama, PrenaTest, Verifi, and VisibiliT) – Global Industry Analysis, Size, Volume, Share, Growth, Trends and Forecast 2014 – 2022.”