Wednesday, 13 March 2019

Global Preterm Birth Diagnostic Test Kits Market to register a staggering CAGR during the forecast 2018-2028

The global preterm birth diagnostic test kits market is expected to expand at a CAGR of 7.4% over the forecast period to reach a value of over US$ 200 Mn by 2028, and the North America preterm birth diagnostic test kits market is expected to remain as a main sink market for revenues. Europe is expected to remain as the main source market for preterm birth diagnostic test kits, as most of the preterm birth diagnostic test kits facilities are located in this region. However, with the increasing demand and cost-effective diagnostic options in countries such as China and India, and various countries of Asia Pacific and Middle-East, is fueling the growth of preterm birth diagnostic test kits market.
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Key Findings Presented in the Report on the Preterm Birth Diagnostic Test Kits Market
The report finds that approximately 115.4 million birthsoccurred in 2017, out of which 11.1% births were preterm, which is approximately 12.8 million births. As per WHO, preterm birth complications are the leading cause of deaths amongst children under the age of 5, directly responsible for approximately 1 million death in 2015. Out of these, 3/4th of these deaths can be prevented with cost-effective interventions. The adoption rates for preterm birth diagnostic tests kits ranged from 2% to 15% distributed over various geographies. Majority of the existent patient pool are unaware about the cost-saving benefits of preterm birth diagnostic test kits, thus, a major portion on the preterm birth test kits market has remained untapped which remains open for manufactures of preterm diagnostic test kits to exploit the preterm birth diagnostic test kits market over the forecast period.
Analysis of the Preterm Birth Diagnostic Test Kits Market
For preterm birth diagnostic test kits, blood sample is the most common sample take for diagnosing preterm labor and premature rupture of membrane. Blood sample-based preterm birth diagnostic tests in preterm cases are the most common and widely accepted in the preterm birth diagnostic test kits end users. However, vaginal discharge sample type preterm birth diagnostic tests are gaining popularity for preterm birth diagnostic test kits.
Hospitals, outpatient clinics & diagnostic laboratories using preterm birth diagnostic tests are the primary point of contact for patients experiencing preterm birth symptoms. Hospitals are estimated to account for majority of the revenue share under the end users segment for preterm birth diagnostic test kits market in 2017, owing to being the primary healthcare facility for preterm cases. The prevalent cases of preterm birth, growing demand for cost-effective diagnostic options and preterm birth test kits, and success in clinical studies for developing a rapid preterm birth diagnostic test kits is expected to fuel the growth of the global preterm birth diagnostic test kits market over the forecast period.
Activities across the preterm birth diagnostic test kits manufacturers are restricted to efficiency and specificity testing. The top activity associated with preterm birth diagnostic test kits manufacturers is joint collaboration with various organizations in order to spread awareness, further development, and test the sensitivity, specificity and efficiency of preterm birth diagnostic test kits.
Preterm birth diagnostic test kits are anticipated to gain popularity as they provide great benefits for the patient, mother and the baby, minimized hospital expenditure. Ultrasound, clinical examinations, and other tests require not only hospital admission but also high costs associated with hospital admissions. Risk for an unborn baby is high in preterm cases, and preterm birth test kits help in predicting, and avoiding such situations in a short duration of time. The growing popularity has been witnessed in China and Asia Pacific regions. Preterm Diagnostic test kits enable analysis and diagnosis of preterm labor or premature rupture of membrane in a short duration.
Factors Impacting Growth of the Preterm Birth Diagnostic Test Kits Market
Rising focus on cost-effective diagnosis using preterm birth diagnostic test kits is expected to boost the growth of the preterm birth diagnostic test kits market. Preterm birth diagnostic test kits manufacturing companies focusing on spreading awareness about preterm birth diagnostic test kits and marketing preterm birth diagnostic test kits through campaigns and joint research studies is expected fuel the growth of the preterm birth diagnostic test kits market during the forecast period. However, Preterm birth diagnostic kits experience stiff competition from alternative product lines. Trans-vaginal scans, advanced ultrasound are some of the examinations adopted by healthcare providers over preterm birth diagnostic kits and would pose challenges to the growth of the preterm birth diagnostic test kits market.
The preterm birth diagnostic test kits market is largely dominated by global manufactures who are competing on the basis of adoption of tests in the market. The consolidated nature of the market and the availability of competitive product lines decreases the profitability of the business. However, growing awareness about preterm birth diagnostic test kits and growing demand for cost-effective diagnostic options for diagnosis of preterm labor have increased the revenue opportunities for global manufacturers. Companies, such as Qiagen, Hologic Inc, Biosynex, Clinical Innovations, hold majority of the revenue share in the global preterm birth diagnostic test kits market. These companies are continuously making efforts to launch novel product lines for preterm birth diagnostic test kits. Further, companies operating in preterm birth diagnostic test kits market are collaborating with local distributors/retailers to increase the penetration of their products in the preterm birth diagnostic test kits market.
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Preterm Birth Diagnostic Test Kits Market: Companies
Some of the key preterm birth diagnostic test kits companies analyzed in this report titled Preterm birth diagnostic test kits market include Creative Diagnostics, Qiagen, Medixbiochemcia, Hologic Inc, Sera Prognostics, IQ Products, Biosynex, Nanjing Liming Biological Preparations Co Ltd, Clinical Innovations LLC, BIOSERV Diagnostics GmbH, Wuxi BioHermes Biomedical Technology Co. Ltd, and Anhui Deep Blue Medical Technology.
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