The global new-born screening equipment market witnessed a robust valuation of approximately US$ 485 million at the close of 2021. Anticipated to exhibit a substantial Compound Annual Growth Rate (CAGR) of 7.8%, the market is poised to soar to a valuation surpassing US$ 1100 million by 2032.
This surge in market growth is attributed to several factors, including rapid technological advancements, escalating demand for new-born diagnosis, and an increasing emphasis on infant safety. These factors collectively are expected to drive the adoption of new-born screening equipment across various healthcare facilities globally.
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New-born screening, also referred to as neonatal screening, plays a pivotal role in identifying developmental, genetic, metabolic, or harmful conditions in new-borns. Left untreated, these conditions may lead to severe consequences such as mental retardation or even fatality. Through meticulous screening processes, healthcare providers can detect rare yet critical medical disorders early on, enabling prompt intervention and treatment.
FMI, stated, “New-born screening is a vital public health initiative conducted in numerous hospitals worldwide. It serves as a proactive measure to identify and address potential health issues in new-borns, ensuring their well-being and developmental milestones. With advancements in screening technology and increased awareness among healthcare professionals and parents, the new-born screening equipment market is poised for significant expansion in the coming years.”
New-born screening not only aids in the early detection of diseases and birth defects but also facilitates timely interventions, thereby potentially saving the lives of new-borns. The integration of innovative technologies into screening equipment enhances accuracy, efficiency, and reliability, further bolstering the market’s growth trajectory.
As the global healthcare landscape continues to evolve, the new-born screening equipment market stands at the forefront of preventive healthcare initiatives, contributing to improved health outcomes for new-borns worldwide.
New-Born Screening Equipment Market Driven by Rising Demand for Early Disease Detection:
The market for new-born screening equipment is experiencing significant growth due to a confluence of factors.
This highlights the key drivers propelling this market expansion:
- Increased Prevalence of Neonatal Diseases: Unfortunately, we’ve seen a rise in the number of babies born with serious health conditions. Early detection through effective screening is crucial for improving their outcomes.
- Government Funding and Program Improvement: Government initiatives are providing much-needed support for newborn screening programs. This increased funding, along with program enhancements, is creating a strong demand for advanced screening equipment.
- Technological Advancements: The field of newborn screening is witnessing exciting breakthroughs. Development of high-performance oximeters and mass spectrometers is enabling more accurate and efficient detection of potential health issues.
- Rising Congenital Disease Rates: The incidence of congenital diseases in newborns is on the rise. This trend underscores the importance of widespread newborn screening to ensure timely intervention and treatment.
- Growing Infant Population: The global infant population is increasing, further driving the need for robust newborn screening equipment.
These factors paint a clear picture: the demand for new-born screening equipment is poised for continued growth. With a focus on early detection and improved health outcomes for newborns, this market is well-positioned to play a vital role in safeguarding the well-being of future generations.
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Key Players:
- Gilent Technologies
- Bio-Rad Laboratories
- Covidien PLC
- GE Life Sciences
- Masimo Corporation
- Natus Medical Inc.
- PerkinElmer Inc.
- Trivitron Healthcare
- GE Healthcare
- ZenTech S.A
Key Segments Covered in the New-Born Screening Equipment Industry Survey:
By Product:
- Hearing Screening Devices
- Pulse Oximetry
- Mass Spectrometer
- Assay Kits
By Test Type:
- Dry Blood Spot Tests
- Hearing Screening Tests
- Critical Congenital Heart Disease (CCHD) Screening Tests
By Technology:
- Immunoassays & Enzymatic Screening Tests
- Hearing Screening Technologies
- Molecular Assays
- Pulse Oximetry
- Tandem Mass Spectrometry
- Other
By End User:
- Clinical Laboratories
- Hospitals
- Diagnostic Centers
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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