The global “Non-Invasive Prenatal Testing ” Market, size is projected to reach USD 10.88 billion by the end of 2027. The presence of several large scale companies will have a positive impact on the growth of the market in the coming years. According to a report published by Fortune Business Insights, titled “Non-Invasive Prenatal Testing (NIPT) Market Size, Share & COVID-19 Impact Analysis, By Product (Instruments, and Consumables & Reagents), Technology (Next Generation Sequencing, Microarray, PCR, and Rolling Circular Amplification), End User (Hospitals, and Clinical Laboratories) Regional Forecast, 2020-2027,” the market was worth USD 2.95 billion in 2019 and will exhibit a CAGR of 17.8% during the forecast period, 2020-2027.
Non-Invasive Prenatal Testing (NIPT) are used to analyze cell-free fetal DNA that detects whether the fetus will be born with certain genetic abnormalities. This process analyzes small fragments of a DNA that circulate in the blood of a pregnant woman. NIPT is described as non-invasive as only the blood of the pregnant woman is studied and it possesses no risk to the fetus. The massive investments in the development of efficient NIPT tools will bode well for the growth of the overall NIPT market in the foreseeable future. The presence of several large scale companies operating in several countries across the world will have a huge impact on the growth of the overall market in the foreseeable future. The reducing costs of genetic testing will bode well for the growth of the NIPT market in the coming years.
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July 2019: Invitae announced that it will be acquiring Singular Bio, a company specializing in single-molecule cell-free DNA analysis. The collaboration will be aimed at developing non-invasive prenatal test.
What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
An Overview of the Impact of COVID-19 on this Market :
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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industry developments that will drive the market growth in the forthcoming years.
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Covid-19 Pandemic to Have a Minimal Impact on NIPT Manufacturers
The Covid-19 pandemic has had an adverse effect on several industries across the world. The efforts taken to curb the spread of the disease have had a damaging impact on several industries across the world. The rapidly rising cases of coronavirus across the world have urged healthcare professionals to focus on tools associated with the treatment of the disease and deviated attention from other concepts such as NIPT. As a result, the Covid-19 pandemic has had a minimal impact on the non-invasive prenatal market in the past few months.