Increasing birth rates across the world are expected to drive demand for newborn metabolic screening, as the risk of galactosemia, sickle cell disease, phenylketonuria, maple syrup urine disease, and cystic fibrosis is higher among infants. Various countries are implementing screening for metabolic diseases in newborns as a part of their immunization programs. To remain competitive and ensure a robust product pipeline, leading companies continue to identify potential assets through pilot screening programs, which typically have limited resources to see projects through the market. According to a latest report published by Persistence Market Research, the global newborn metabolic screening market was valued around US$ 247 Mn in 2020, and is expected to witness an impressive CAGR of over 9% during the forecast period (2020 – 2030).
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The healthcare vertical is on the verge of shifting point-of-care services to a wider constellation of settings, inclusive of the patients’ own homes. This has, in turn, given rise to value-based payment methodologies. With far-flung patients getting an access to high-speed internet, digital care is becoming the cornerstone. On these grounds, One Medical, an IPO backed by Google, is turning out to be a benchmark with regards to digital-first primary care, wherein concierge service is offered on payment of annual fee.
This digitization is expected to empower the healthcare vertical across all the geographies in the near future. Persistence Market Research has its prodigal team in the form of consultants and analysts to keep a tab on the latest happenings in the healthcare vertical along with the probable calls to action.
Key Takeaways from Market Study
- Sickle cell disease is expected to contribute more than 30% of revenue share to the market.
- By sample, blood testing held the highest market share in 2019 due to efficient diagnostic results.
- Europe holds a significant share of over 30% in the global newborn metabolic screening market.
- Leading manufacturers are focused on strengthening their product portfolios and regional expansion through collaborations.
- Hospitals are expected to hold significant market share, due to high number of screening programs being arranged in collaboration with hospitals.
- The COVID-19 outbreak has had a negative impact on the market, as short-term lockdowns disturbed the production and supply chain of kits.
- The market in the U.S is projected to expand at a CAGR of close to 10% through 2030.
- The U.K market has a share of more than 17% in Europe, and is expected to progress at a CAGR of more than 12% over the next ten years.
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Collaborations & Acquisitions Key Strategies amongst Market Players
Leading players in the newborn metabolic screening landscape are focusing on improving their product portfolios through partnerships and acquisitions. Various players are also focusing on regulatory approvals and innovative product launches.
- On October 05, 2020, PerkinElmer announced CE-IVD approval of the EONIS™ newborn screening assay.
- In October 2018, Trivitron’s Labsystems Diagnostics launched high quality newborn screening panels.
- On September 3, 2020, Sickle SCAN® was approved by the Department of Health in Australia.
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