Non Invasive Prenatal Testing (NIPT) Market Growing at a CAGR of 13.5% | Leading Companies are Thermo Fisher Scientific, GE Healthcare, Agilent Technologies

According to the new market research report ” Non Invasive Prenatal Testing (NIPT) Market by Product (Consumables, Reagent, Ultrasound, NGS, PCR, Microarray), Services, Method (cfDNA, Biochemical Markers), Application (Aneuploidy, Microdeletion) & End-User (Hospital, Labs)-Global Forecasts to 2024 “, published by MarketsandMarkets™, The global non-invasive prenatal testing (NIPT) market is estimated to reach USD 7.3 billion by 2024 from USD 3.9 billion in 2019, at a CAGR of 13.5% during the forecast period.

Growth in this market is driven by the high risk of chromosomal abnormalities with increasing maternal age, growing preference for non-invasive techniques over invasive methods, improving reimbursement scenario for NIPT, and increasing awareness of NIPT. However, a dearth of skilled professionals is restraining the growth of this market.

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Recent Developments :

  • In June 2019, BGI and Eluthia (Germany) launched the NIFTY test (non-invasive prenatal test), under the brand name PreviaTest in Germany.
  • In January 2019, Illumina expanded its NIPT platform with the launch of VeriSeq NIPT Solution v2.
  • In November 2018, Illumina and Pacific Biosciences signed an agreement for Illumina to acquire Pacific Biosciences. This acquisition will allow Illumina to strengthen its sequencing solutions platform with accurate long-read sequencing capabilities.
  • In January 2017, Agilent Technology acquired Multiplicom N.V. (Belgium) in order to create comprehensive offerings for next-generation sequencing solutions. Multiplicom develops and commercializes molecular diagnostic solutions which are useful in the identification of congenital defects early in pregnancy and other genetic diseases

Growth in this market is driven by the high risk of chromosomal abnormalities with increasing maternal age, growing preference for non-invasive techniques over invasive methods, improving reimbursement scenario for NIPT, and increasing awareness of NIPT. However, a dearth of skilled professionals is restraining the growth of this market.

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The cfDNA in maternal plasma tests segment is expected to grow at the highest CAGR during the forecast period

By method, the NIPT products market is segmented into ultrasound detection, biochemical screening tests, and cell-free DNA in maternal plasma tests. The cfDNA in maternal plasma tests segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment is attributed to technological advancements and increasing company initiatives to develop new products.

Key Players in the Global NIPT Market

The NIPT market is diversified and highly competitive, with a large number of players competing for market space. The prominent players in the market are Illumina, Inc. (US), Thermo Fisher Scientific Inc. (US), GE Healthcare (US), BGI (China), Agilent Technologies, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), PerkinElmer Inc. (US), Laboratory Corporation of America Holdings (US), Natera, Inc. (US), and Yourgene Health  

Key Questions Addressed by the Report :

  • Where will all these developments take the industry in the mid to long-term?
  • What types of annual and multi-year partnerships are NIPT product and service companies exploring?
  • Which are the key players in the market and how intense is the competition?
  • Which are the recent contracts and agreements key players have signed?
  • What are the recent trends affecting NIPT product and service providers?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst @
https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=145607690

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