by The global Preterm Birth And Prom Testing Market is estimated to be valued at US$ 1.69 Bn in 2023 and is expected to exhibit a CAGR of 12.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Preterm birth and PROM testing products include consumables, assay kits and instruments used for the diagnosis of preterm birth by detecting biomarkers and infections related to preterm birth in expecting mothers. These products help detect risks and enable timely treatment reducing complications.
Market key trends:
One of the major trends in the preterm birth and PROM testing market is the increasing adoption of rapid point-of-care testing. This helps in timely clinical decisions and treatment of high-risk patients. Various players are focusing on developing rapid point-of-care tests for the detection of fFN, AFP and other biomakers which can be used near patient settings like obstetrician clinics or at patient’s bedside without need for centralized laboratories. This enhances accessibility and time-efficiency of testing.
SWOT Analysis
Strength: The preterm birth and prom testing market has developed advanced diagnostic technologies like biomarker tests, fetal fibronectin, ultrasound, and others which help in identifying preterm birth risk at an early stage.
Weakness: High cost of testing and limited availability of testing facilities in developing countries pose a challenge to market growth.
Opportunity: Increasing government initiatives and funding for preterm birth prevention and growing awareness about available diagnostic tests present an opportunity for market players.
Threats: Lack of reimbursement policies for prom testing in some countries and reluctance to adopt new technologies are major threats.
Key Takeaways
Global Preterm Birth And Prom Testing Market Demand is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing awareness about complications associated with preterm birth and availability of advanced diagnostic solutions.
Regional analysis
North America is expected to dominate the global market over the forecast period due to growing adoption of prom testing, availability of reimbursement, and presence of leading market players in the region. The Asia Pacific market is anticipated to exhibit the fastest growthrate owing to rising medical tourism, increasing healthcare expenditure, and growing awareness about preterm birth.
Key players operating in the preterm birth and prom testing market are 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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
