The Pediatric And Neonatal Testing Kit Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Pediatric And Neonatal Testing Kit Global Market Report 2024, The pediatric and neonatal testing kit market size has grown strongly in recent years. It will grow from $3.7 billion in 2023 to $4.02 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to advancements in pediatric and neonatal care, increased focus on child health, expansion of healthcare infrastructure, growing awareness of prenatal testing, evolving regulatory landscape.
The pediatric and neonatal testing kit market size is expected to see strong growth in the next few years. It will grow to $5.51 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to rise in demand for non-invasive testing methods, expansion of point-of-care testing in pediatrics, increasing investments in neonatal and pediatric research, adoption of digital health solutions. Major trends in the forecast period include development of rapid and accurate testing kits, implementation of next-generation sequencing in pediatric diagnostics, expansion of newborn screening programs, increasing focus on metabolic testing in neonates, integration of artificial intelligence in diagnostic tools.
The increased prevalence of congenital disorders in newborn babies is driving the pediatric and neonatal testing kit market going forward. Congenital disorders occur during fetal development or are present at birth. Pediatric and neonatal screening is beneficial in detecting the presence of any congenital disabilities and helps healthcare professionals to treat those defects at an early stage. For instance, in February 2023, according to the World Health Organization (WHO), a Switzerland-based specialized health agency of the United Nations, approximately 240,000 babies in the world die within the first 28 days of birth due to congenital disorders every year. About 170,000 children die between the ages of 1 month to 5 years due to congenital conditions. Further, in December 2022, according to the European Commission, a Europe-based independent executive arm, the prevalence of anomalies per 10,000 in 2020 was 253.38, and termination of pregnancy for the congenital anomaly (TOPFA) was 58.22 in 2020. Therefore, the increasing prevalence of congenital disorders drives the pediatric and neonatal testing kits market.
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The pediatric and neonatal testing kit market covered in this report is segmented –
1) By Test Type: Dried Blood Spot, Hearing Screening, Critical Congenital Heart Defect (CCHD), Other Test Types
2) By Product: Assay Kits And Reagents, Instruments
3) By Technology: Tandem Mass Spectrometry, Pulse Oximetry, Enzyme-Based Assays, DNA Based Assays, Electrophoresis, Others Technologies
4) By End User: Hospitals, Diagnostic Centers,
aternity And Specialty Clinics, Other End Users
The development of novel screening tests is a key trend gaining popularity in the pediatric and neonatal testing kits market. Major companies in the market are focusing on developing novel screening kits, such as Calmark Neo-Bilirubin, on sustaining their position in the market. For instance, in April 2020, Calmark, a Sweden-based diagnostics company, announced that its product Calmark Neo-Bilirubin had received regulatory approval and a CE mark from the European Union. The new product is a point-of-care diagnostic system for measuring bilirubin in newborns. Contrary to traditional test methods, the new creation has a high tolerance to hemolysis and can produce accurate results at up to 60% hematocrit. It is specially designed for use in hospital environments and approved by NEST360 Qualified for better quality and safety.
The pediatric and neonatal testing kit market report table of contents includes:
1. Executive Summary
2. Pediatric And Neonatal Testing Kit Market Characteristics
3. Pediatric And Neonatal Testing Kit Market Trends And Strategies
4. Pediatric And Neonatal Testing Kit Market – Macro Economic Scenario
5. Global Pediatric And Neonatal Testing Kit Market Size and Growth
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26. South America Pediatric And Neonatal Testing Kit Market
27. Brazil Pediatric And Neonatal Testing Kit Market
28. Middle East Pediatric And Neonatal Testing Kit Market
29. Africa Pediatric And Neonatal Testing Kit Market
30. Pediatric And Neonatal Testing Kit Market Competitive Landscape And Company Profiles
Top Major Players:
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