Preterm Birth Diagnostic Test Kits Market Targets US$ 203.2 Million Summit by 2028-FMI Report

Preterm Birth Diagnostic Test Kits Market

The preterm birth diagnostic test kits market was worth US$ 121.3 million in 2021 and is projected to increase 1.6 times over the next five years. The market is anticipated to expand at a CAGR of 7.6% from 2022 to 2028, with sales of US $ 203.2 Million in 2028.

A new study by the company titled ‘Preterm Birth Diagnostic Test Kits Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028’, has listed out the key points being considered by preterm birth diagnostic test kits companies to emerge and stay sustainably profitable in the long run in the preterm birth diagnostic test kits market.

The global preterm birth diagnostic test kits market is expected to expand at a CAGR of 7.4% over the forecast period to reach a value of over US$ 200 Mn by 2028, and the North America preterm birth diagnostic test kits market is expected to remain as a main sink market for revenues. Europe is expected to remain as the main source market for preterm birth diagnostic test kits, as most of the preterm birth diagnostic test kits facilities are located in this region. However, with the increasing demand and cost-effective diagnostic options in countries such as China and India, and various countries of Asia Pacific and Middle-East, is fueling the growth of preterm birth diagnostic test kits market.

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Key Findings Presented in the Report on the Preterm Birth Diagnostic Test Kits Market

The report finds that approximately 115.4 million births occurred in 2017, out of which 11.1% births were preterm, which is approximately 12.8 million births. As per WHO, preterm birth complications are the leading cause of deaths amongst children under the age of 5, directly responsible for approximately 1 million death in 2015. Out of these, 3/4th of these deaths can be prevented with cost-effective interventions. The adoption rates for preterm birth diagnostic tests kits ranged from 2% to 15% distributed over various geographies. Majority of the existent patient pool are unaware about the cost-saving benefits of preterm birth diagnostic test kits, thus, a major portion on the preterm birth test kits market has remained untapped which remains open for manufactures of preterm diagnostic test kits to exploit the preterm birth diagnostic test kits market over the forecast period.

Analysis of the Preterm Birth Diagnostic Test Kits Market

For preterm birth diagnostic test kits, blood sample is the most common sample take for diagnosing preterm labor and premature rupture of membrane. Blood sample-based preterm birth diagnostic tests in preterm cases are the most common and widely accepted in the preterm birth diagnostic test kits end users. However, vaginal discharge sample type preterm birth diagnostic tests are gaining popularity for preterm birth diagnostic test kits.

Hospitals, outpatient clinics & diagnostic laboratories using preterm birth diagnostic tests are the primary point of contact for patients experiencing preterm birth symptoms. Hospitals are estimated to account for majority of the revenue share under the end users segment for preterm birth diagnostic test kits market in 2017, owing to being the primary healthcare facility for preterm cases. The prevalent cases of preterm birth, growing demand for cost-effective diagnostic options and preterm birth test kits, and success in clinical studies for developing a rapid preterm birth diagnostic test kits is expected to fuel the growth of the global preterm birth diagnostic test kits market over the forecast period.

Activities across the preterm birth diagnostic test kits manufacturers are restricted to efficiency and specificity testing. The top activity associated with preterm birth diagnostic test kits manufacturers is joint collaboration with various organizations in order to spread awareness, further development, and test the sensitivity, specificity and efficiency of preterm birth diagnostic test kits.

Factors Impacting Growth of the Preterm Birth Diagnostic Test Kits Market

Rising focus on cost-effective diagnosis using preterm birth diagnostic test kits is expected to boost the growth of the preterm birth diagnostic test kits market. Preterm birth diagnostic test kits manufacturing companies focusing on spreading awareness about preterm birth diagnostic test kits and marketing preterm birth diagnostic test kits through campaigns and joint research studies is expected fuel the growth of the preterm birth diagnostic test kits market during the forecast period. However, Preterm birth diagnostic kits experience stiff competition from alternative product lines. Trans-vaginal scans, advanced ultrasound are some of the examinations adopted by healthcare providers over preterm birth diagnostic kits and would pose challenges to the growth of the preterm birth diagnostic test kits market.

Preterm Birth Diagnostic Test Kits Market: Companies

Some of the key preterm birth diagnostic test kits companies analyzed in this report titled Preterm birth diagnostic test kits market include Creative Diagnostics, Qiagen, Medixbiochemcia, Hologic Inc, Sera Prognostics, IQ Products, Biosynex, Nanjing Liming Biological Preparations Co Ltd, Clinical Innovations LLC, BIOSERV Diagnostics GmbH, Wuxi BioHermes Biomedical Technology Co. Ltd, and Anhui Deep Blue Medical Technology.

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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

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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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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