The spectacle lens market is on a visionary path, with its crucial role in addressing the rising incidence of vision impairments. By 2024, the market is projected to reach an impressive valuation of USD 50,126.1 million, reflecting the growing priority placed on eye care. With a steady Compound Annual Growth Rate (CAGR) of 4.0%, the market is set to expand even further, reaching a staggering USD 74,230.8 million by 2034.
In 2023, spectacle lenses accounted for nearly 45.1% of the global eye care and eyewear market share, and this dominance is poised to grow over the next decade. This growth is fueled by increasing government initiatives aimed at combating eye disorders and diseases, underscoring the essential role of spectacle lenses in global health strategies.
Beyond their medical utility, spectacle lenses are experiencing a transformation in public perception. No longer seen solely as a medical necessity, they are now embraced as fashionable accessories. This shift in consumer attitude is expected to be a significant driver of market growth, as more individuals turn to eyewear for both functional and style purposes.
As the market evolves, the spectacle lens industry is not just enhancing vision but also setting trends, merging health with fashion. This dual appeal is set to propel the industry forward, ensuring robust growth and a larger share in the global eyewear market.
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The growing awareness of preterm birth issues and the importance of early detection and intervention is a key driver of the market’s growth. The use of preterm birth diagnostic test kits is anticipated to soar as healthcare systems throughout the globe place a greater priority on the health of mothers and newborns, filling vital gaps in prenatal care.
The favorable forecast for the global preterm birth diagnostic test kit market highlights how crucial it is for industry stakeholders to continuously innovate, educate themselves, and work together. Manufacturers, healthcare providers, and legislators have significant opportunity to improve prenatal care and lower the rate of premature deliveries as the market develops.
Key Findings Presented in the Report on the Preterm Birth Diagnostic Test Kits Market:
According to the data, the number of births in 2017 was roughly 115.4 million, of which 12.8 million or 11.1% were preterm. Preterm birth problems are the biggest cause of death for children under the age of five, according to the World Health Organization. In 2015, they were directly responsible for around one million deaths. Of these, cost-effective measures can avoid three-quarters of these deaths. Across different regions, preterm birth diagnostic test kit adoption rates varied from 2% to 15%. A substantial chunk of the preterm birth test kit market has gone untapped, leaving it open for manufacturers of preterm diagnostic test kits. This is because the majority of the current patient pool is ignorant of the cost-saving advantages of preterm birth diagnostic test kits.
Analysis of the Preterm Birth Diagnostic Test Kits Market:
The most common sample used for preterm labor and premature membrane rupture diagnosis in preterm birth diagnostic test kits is blood. The most popular and widely recognized preterm birth diagnostic test kits among end users are those that employ blood samples for preterm birth diagnosis. On the other hand, preterm birth diagnostic test kits using vaginal discharge sample type are becoming more and more common.
Patients experiencing symptoms of preterm birth are primarily referred to hospitals, outpatient clinics, and diagnostic laboratories that use preterm birth diagnostic tests. Because they are the principal healthcare institution for preterm cases, hospitals are expected to account for the majority of the revenue share under the end users segment for the preterm birth diagnostic test kits market in 2017.
Preterm Birth Diagnostic Test Kits Market – Competitive Landscape:
The key players of this market are adopting strategies such as product launch, acquisition, partnership and collaborations to gain expand their market presence and open up new streams of revenue generation.
- In June 2021, Medix Biochemica announced the launch of a new molecular diagnostic reagents division named “MedixMDx” to offer extensive range of products and services for their customers.
- In September 2020, QIAGEN announced the acquisition of NeuMoDx Molecular Inc., which helped the company to complete their product portfolio of PCR technology based automated molecular testing solutions.
- In May 2021, Sera Prognostics announced a strategic commercial partnership with Anthem Inc., to make their “PreTRM® “tests available to all the customers of Anthem in the U.S.
Since the awareness of preterm birth diagnostic test kits is increasing, the demand for these kits will rise in the next few years. This creates many lucrative opportunities for the key players of this industry.
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Key Companies Profiled:
- Qiagen
- Medix Biochemica
- Hologic Inc.
- Sera Prognostics
- IQ Products
- Creative Diagnostics
- Nanjing Liming Biological Preparations Co., Ltd.
- Clinical Innovations, LLC
- Bioserv Diagnostic GmbH
Preterm Birth Diagnostic Test Kits Market, By Category:
Product:
- ffN Test
- PAMG-1 Test
- IGFBP-1 Test
Sample:
- Blood
- Urine
- Vaginal Discharge
End User:
- Hospitals
- Diagnostic Laboratories
- Outpatient Clinics
- Research Centers
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle-East & Africa
- APECJ
- China
- Japan
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