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San Antonio, TX, United States, 2022/10/24 - Rising patient awareness drives technological advances and expands marketing for prenatal genetic tests globally, says Frost & Sullivan.
Rising patient awareness drives technological advances and expands marketing for prenatal genetic tests globally, according to Frost & Sullivan’s recent analysis, Global Prenatal Genetic Testing Industry. Physicians’ emphasis on tests for children and parents in regular clinical consultations has further accelerated the industry’s growth. The global market for prenatal genetic testing is expected to reach $11.39 billion by 2026 from $8.08 billion in 2021, registering expansion at a compound annual growth rate (CAGR) of 7.1%.
“The continued increase in the prevalence of those born with genetic disorders and the increase in maternal age, which can lead to pregnancy complications, is fueling the demand for prenatal genetic testing,” said Lucila Martin, Healthcare Research Analyst at Frost & Sullivan. “This pushes companies to offer several tests, including counseling services, to find the best option for each patient.”
Martin added: “Non-invasive prenatal test (NIPT) is the largest segment in the prenatal genetic market. It will grow due to its promising features such as accuracy and a decrease in its margin of error for false results. Further, carrier screening and miscarriage tests will also contribute significantly to the industry’s overall growth over the forecast period.”
To take advantage of expanding prenatal genetic testing, market participants should:
• Develop low-cost solutions to meet the demands of low-resource areas, offering training on equipment management and care.
• Focus on working with institutions and health professionals, so their tests have greater scope and are offered at regular obstetrics and gynecology consultations to build patient confidence.
• Adopt a direct-to-consumer sales approach by assisting patients through doctors or a genetic counselor so that professionals guide the purchases.
Global Prenatal Genetic Testing Forecast to 2026 is the latest addition to Frost & Sullivan’s Healthcare research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
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For over six decades, Frost & Sullivan (frost.com) has helped build sustainable growth strategies for Fortune 1000 companies, governments, and investors. We apply actionable insights to navigate economic changes, identify disruptive technologies, and formulate new business models to create a stream of innovative growth opportunities that drive future success. Contact us: Start the discussion
Global Prenatal Genetic Testing Forecast to 2026 / K7E9