Global Newborn Screening Market: Overview
TMR’s report on the global newborn screening market studies the past as well as the current growth trends and opportunities to gain valuable insights of the indicators for the market during the forecast period from 2024 to 2031. The report provides revenue of the global newborn screening market for the period 2017–2031, considering 2019 as the base year and 2031 as the forecast year. The report also provides the compound annual growth rate (CAGR %) of the global newborn screening market from 2024 to 2031.
The report has been prepared after an extensive research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with key opinion leaders, industry leaders, and opinion makers. Secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the newborn screening market.
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Medical Outcomes Increase with Connectivity Between Screening Programs and Healthcare Providers
Companies in the newborn screening market are focusing on reducing the morbidity and mortality associated with heritable disorders in newborns and children. Altarum – a non-profit research and consulting organization has been selected by the Health Resources and Services Administration (HRSA) to lead the Innovations in Newborn Screening Interoperability Resource Center. Such initiatives explain why the newborn screening market is expected to advance at a robust CAGR of ~11% during the forecast period.
In order to improve medical outcomes of newborns and children, healthcare providers are taking efforts to enhance the connectivity between state public health newborn screening programs and healthcare providers. This is being achieved with the help of information management and technical assistance for newborn screening programs.
Lack of Data for New Pediatric Health States Increases Costs for Clinicians
The newborn screening market is projected to reach the valuation of US$ 3.3 Bn by 2031. This is evident since the number of conditions assessable by newborn screening methods is increasing, resulting in additional cost for the healthcare system. Moreover, lack of data on long-term consequences of new conditions and scarce follow-up information for screened conditions are hampering the decision making process of healthcare providers. Hence, there is a need to standardize valuation techniques for pediatric health states in the newborn screening market.
There is a need to clarify methodological strengths and flaws in cost effectiveness and cost utility analysis of new pediatric health states.
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Availability of Contact Information Helps Individuals amid Coronavirus Outbreak
Health screenings and check-ups for new babies are still relevant during the coronavirus outbreak. These check-ups help families to make informed decisions about how to protect their infants. Hence, stakeholders in the newborn screening market are increasing awareness about additional precautions that need to be taken such as in cases of follow-up testing after the screening results are received.
Since healthcare is one of the essential industries worldwide, state and territorial newborn screening programs are being carried out even during the COVID-19 situation. Healthcare providers in the newborn screening market are capitalizing on this opportunity to offer comprehensive services in blood spot screening, hearing, and critical congenital heart disease (CCHD) test. Clinicians in the U.S. are increasing the availability of contact information and listing it on official state pages to keep individuals abreast with all updates.
Newborn Screening Market: Major Players
- The newborn screening market report concludes with the company profiles section, which includes key information about major players in the global newborn screening market
- Leading players analyzed in the global newborn screening market report include
- PerkinElmer, Inc.
- Trivitron Healthcare
- Natus Medical Incorporated
- Medtronic Plc
- Thermo Fisher Scientific, Inc.
- Bio-Rad Laboratories, Inc.
- GE Healthcare (General Electric Company)
- ZenTech S.A.
- MP BIOMEDICALS
- Baebies, Inc.
- Masimo
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