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| Global Preterm Birth And Prom Testing Market |
The global Preterm Birth And Prom Testing Market is estimated to be valued at US$ 1.69 billion in 2023 and is
expected to exhibit a CAGR of 12.5%
over the forecast period 2023 - 2030, as highlighted in a new report published
by Coherent Market Insights.
Market Overview:
Preterm birth and prom testing helps in determining preterm birth risk factors
and allows physicians to outline management plans accordingly. Tests check for
factors like fibronectin, cervical length, fetal fibronectin and others in
expectant mothers. This aids in detecting preterm birth at an early stage and
helps take preventive measures. With rising preterm birth rates globally, the
need for efficient prom testing is increasing.
Market key trends:
One of the key trends in the preterm birth and prom testing market is the
rising adoption of point-of-care testing devices. Traditionally lab-based
methods were used for prom testing but new portable devices allow instant
bedside screening. Companies are focusing on developing easy to use, reliable
point-of-care kits for parameters like fetal fibronectin levels. This is
boosting screening rates as results are available immediately aiding quick
clinical decision making. Other trends include development of screening panels
checking multiple biomarkers and increased usage of adjunct ultrasounds with
prom tests for higher accuracy. Novel biomarkers are also being explored for
developing more effective prediction models.
Porter's Analysis
Threat of new entrants: The high costs of R&D and marketing campaigns pose
as a barrier for new companies to enter this market. However, growing demand is
creating opportunities for new startups.
Bargaining power of buyers: Preterm birth testing is crucial for at-risk
pregnancies. This gives buyers significant bargaining power over price and
quality of products. Their demand drives innovation in the market.
Bargaining power of suppliers: Specialized materials and technologies used give
existing suppliers strong influence over prices and product development
timelines. Companies depend on a small number of efficient suppliers.
Threat of new substitutes: Alternate testing methods for genetic markers and
progesterone levels pose a threat. However, established diagnostic approaches
still dominate due to acceptance and switching costs for providers.
Competitive rivalry: Major companies compete intensely on technology, pricing
and marketing. Market consolidation is high with large acquisitions taking
place regularly.
Key Takeaways
The Global
Preterm Birth And Prom Testing Market is expected to witness high
growth, exhibiting a CAGR of 12.5%
over the forecast period of 2023 - 2030, due to increasing awareness about
benefits of early detection and prevention of preterm birth risks.
Regional analysis: North America dominates the market currently due to
supportive regulatory environment and high acceptance of advanced diagnostics.
Asia Pacific is the fastest growing market led by countries like China and
India with rising healthcare investments and growing middle-class populations
seeking quality care during pregnancy.
Key players operating in the preterm birth and prom testing market include
Abbott Laboratories, Biosynex, Qiagen Sciences LLC, Clinical Innovations LLC,
Sera Prognostics, The Cooper Companies Inc., Medixbiochemica, Hologic Inc., IQ
Products, NX Prenatal Inc., Promega Corporation, Medical Predictive
Technologies Inc., Biosynex, Clinical Innovations LLC, NX Prenatal Inc.,
Medixbiochemica, Qiagen Sciences LLC, Sera Prognostics Inc., Insight
Pharmaceuticals LLC, Creative Diagnostics.
Read More: https://www.trendingwebwire.com/preterm-birth-and-prom-testing-market-size/