Non-Invasive Prenatal Testing Market Overview
The global non-invasive prenatal testing market is projected to generate $1.4 billion revenue by 2020, registering a CAGR of 17.6% during the forecast period. The market growth is attributed to the increasing incident cases of chromosome syndrome and average maternal age, propelling expenditure in healthcare and increasing demand for non-invasive and early fetal testing, across the globe.
On the basis of test type, the non-invasive prenatal testing market is segmented into Harmony, PrenaTest, MaterniT21 PLUS, Panorama, NIFTY, and Verifi. Among these, MaterniT21 PLUS held the maximum market share in 2015 and is further expected to hold 26% share by 2020. However, NIFTY is expected to be the fastest growing category during the forecast period.
Based on geography, North America dominated the non-invasive prenatal testing market, mainly on account of increasing maternal age, rising healthcare expenditure, propelling demand for non-invasive procedures, and increasing incidence of genetic syndromes. Among the countries of the North American region, the U.S. led the market in 2015 and is further estimated to hold a market share of above 80% by 2020. In addition, it is projected to be the faster growing market, than Canada for NIPT in the coming years.
Non-Invasive Prenatal Testing Market Dynamics
Trend
Increasing number of partnerships is an evolving trend in the non-invasive prenatal testing market. The companies are collaborating and partnering to provide NIPT to patients and doctors, across the globe. Majority of these strategic development activities are focused on faster availability, cost-effectiveness, and genetic solutions to support education program.
Growth Driver
According to an article published by World Health Organisation (WHO), increasing healthcare expenditure is responsible for improving infrastructure of the healthcare industry. This in turn, is leading to increased accessibility and affordability of novel tests, which, in turn, will support the growth of non-invasive prenatal testing market.
Restraints
Despite the evolving trend and adoption of NIPT, the non-invasive prenatal testing market is facing challenges as strict regulations are enforced by government. Under these regulations, manufacturing companies are required to follow standardized norms, in order to maintain the test accuracy and for delivering quality medical devices. In addition, these regulatory procedures are time consuming and hamper the rapid development and innovation of the devices, thereby, hindering the market growth.
Opportunities
The increasing adaptability of NIPT in emerging countries provides ample growth opportunities to the market players. The growth in these countries is likely to be driven by increasing average maternal age and growing focus on early fetal testing. The developing nations, such as India and China have large population, however, they lack upgraded healthcare solutions and genetic counseling for NIPT.
Moreover, the incident cases of chromosome and genetic disorders such as Edwards syndrome and Down syndrome in these countries are on the rise. It is mainly due to highly priced NIPT testing and lack of awareness about mutations occurring in the genes. Also, the healthcare solutions in these countries are not upgraded, so the test sample is required to be shipped to other countries for analysis. Therefore, to counter these issues, public and private organizations are taking initiatives to raise awareness about prenatal testing.
Non-Invasive Prenatal Testing Market Competitive Landscape
Some of the major companies operating in the non-invasive prenatal testing industry include Sequenom Inc., Quest Diagnostics Incorporated, BGI, Hoffmann-La Roche Ltd., LifeCodexx AG, Illumina Inc., Natera Inc., Berry Genomics Co. Ltd., and Laboratory Corporation of America Holdings.
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