Report ID: SQMIG35E2050
Report ID:
SQMIG35E2050 |
Region:
Global |
Published Date: November, 2024
Pages:
177
|
Tables:
89 |
Figures:
71
Global Newborn Screening Market size was valued at USD 1.25 Billion in 2023 and is poised to grow from USD 1.34 Billion in 2024 to USD 2.12 Billion by 2031, growing at a CAGR of 6.8% in the forecast period (2024-2031).
The factors which fuel growth over the forecast period include the increasing birth rate, increasing instances of congenital illness in infants, growing awareness among consumers, positive efforts and support from different governments arranging several programs & legislations. Technological advancements in screening techniques drive the market. The emergence of congenital disorders among newborns is projected to drive the growth rate in the newborn screening market. According to WHO, it is estimated that about 240,000 baby deaths are accounted for by congenital disorders yearly, within the first 28 days of birth, as of the available data for February 2023. In addition, another estimate is that approximately 170,000 child deaths between one month and five years of age are congenitally related. Furthermore, from Indian Pediatrics, in-born metabolic disorders are estimated to be 2–7.8% of Indian children and congenital hypothyroidism affects 2.1 out of every 1,000 babies. Since congenital disorders are found to be very high among infants, the use of tests is more probable to rise, and this is expected to boost the growth of the market by 2031. Promoting a favorable environment for the growth of the newborn screening market comes through initiating government schemes and passing policies. For instance, in June 2022, the government of Manitoba declared it was advancing to expand its newborn screening program to include testing for spinal muscular atrophy along with others.
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Report ID: SQMIG35E2050