The preterm birth and PROM testing market has witnessed significant growth in recent years owing to rising incidences of preterm birth cases globally. Preterm birth refers to the birth of a baby more than three weeks early, or before 37 weeks of the mother's pregnancy have been completed. Preterm birth and premature rupture of membranes (PROM) often lead to preterm labor, health issues in newborns and increased financial burden. Various tests are conducted by healthcare providers to detect the risk of preterm birth and PROM at an early stage such as fetal fibronectin test, biomarkers tests, ultrasound examination etc.
The global preterm birth and PROM testing market is estimated to be valued at US$ 1.69 Bn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of preterm births globally is one of the major factors responsible for the growth of the preterm birth and PROM testing market. According to the World Health Organization (WHO), preterm birth complications are the leading cause of death among children under 5 years of age, responsible for approximately 1 million deaths in 2015. Development of advanced testing kits and portable monitoring devices with high accuracy for early preterm birth detection is another key trend witnessed in the market. Growing awareness about availability of preterm birth prevention and treatment options is also fueling the demand for PROM testing. Introduction of novel biopharmaceutical products for inhibiting inflammation and infection associated with preterm birth and PROM will further present lucrative opportunities for players in this market over the forecast period.
Segment Analysis
The Global Preterm Birth And Prom Testing Market Size is segmented on the basis of product type and application. By product type, the market is dominated by progesterone supplements owing to its ability to shorten delivery time and reduce the risks associated with preterm birth. Some women do not produce enough progesterone naturally as pregnancy progresses, which increases their chances of going into preterm labor. Progesterone supplements help supplement this hormone and reduce preterm birth risks.
Key Takeaways
The global preterm birth and prom testing market is expected to witness high growth over the forecast period owing to rising age of mothers and environmental stressors leading to increased preterm birth risks. The global preterm birth and PROM testing market is estimated to be valued at US$ 1.69 Bn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030.
Regional analysis
North America currently dominates the market and is expected to continue its dominance over the forecast period due to advanced healthcare infrastructure and growing awareness about preterm birth risks and their management. Asia Pacific is expected to be the fastest growing region due to growing medical tourism, increasing healthcare expenditure, and rising birth rates in countries like India and China.
Key players
Key players operating in the preterm birth and prom testing market are Sanofi S.A., AbbVie Inc., Perrigo Company PLC, 3M, Lee's Pharmaceutical Holdings Ltd, Cassiopea, Glenmark Pharmaceuticals, Bausch Health, and Novartis International AG. Sanofi S.A. offers progesterone supplements under the brand name Crgel to reduce the risk of preterm birth in women with short cervix found on transvaginal ultrasound or with a history of spontaneous preterm birth.
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