Non-invasive Prenatal Testing Market is Predicted to Witness 10.9% CAGR till 2028

The global Non Invasive Prenatal Testing Market size is anticipated to reach USD 6.5 billion by 2028 registering a CAGR of 10.9%, according to a new report by Grand View Research, Inc. High adoption and demand for early non-invasive prenatal testing (NIPT) coupled with improvements in reimbursement scenario are among the factors driving the market.

The use of invasive techniques of prenatal testing, such as chorionic villus sampling and amniocentesis, can lead to issues, such as miscarriage. This has led to a decline in the use of these procedures and high demand for tests that are more efficient, non-invasive, and safe. Furthermore, non-invasive fetal tests have a lower failure and false-positive rate, which has resulted in a considerable increase in uptake of non-invasive tests in the last few years.

The non-invasive prenatal testing market is highly saturated with the existing key players. Companies are forming partnerships and collaborations to maintain a stable position in the market. For instance, in August 2020, Eurofins Scientific announced an agreement with Noritsu Koki Co., Ltd. for the acquisition of GeneTech Inc., one of the pioneering NIPT developers in Japan. With this acquisition, Eurofins Scientific is set to strengthen its presence in the Japanese NIPT market.

Related Press Release@ Non-invasive Prenatal Testing Market Report

Non-invasive Prenatal Testing Market Report Highlights

• The 13-24 weeks gestation period segment accounted for the largest revenue share in 2020 owing to the presence of a maximum number of tests carried out in this phase of pregnancy
• NIPT for high- & average-risk pregnancy led the market owing to the presence of favorable payer reimbursement policies in this segment
• Next-Generation Sequencing (NGS) is estimated to be the largest as well as the fastest-growing technology segment from 2021 to 2028, as NGS is the most commonly used method for NIPT
• The diagnostic laboratories end-use segment held the largest revenue share in 2020 and will expand further at the fastest CAGR from 2021 to 2028 due to the rising number of diagnostic laboratories across the globe that offer NIPT
• Asia Pacific is expected to register the fastest year-on-year growth owing to the gradually increasing average maternal age and rising incidence of chromosomal aneuploidies
• One of the key trends followed by market participants includes licensing of the test to other labs and generating significant revenue by collecting royalty payments

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Created on May 3rd 2021 07:13. Viewed 290 times.

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