The preterm birth and prom testing market offers various diagnostic tests to detect complications related to preterm birth. Preterm birth can cause serious health issues in newborns including respiratory problems,feeding difficulties, cerebral palsy, and vision and hearing loss. Hence, early detection and diagnosis of preterm labor is crucial. Prom testing assesses proteins that are biomarkers for predicting the risk of preterm birth before signs and symptoms occur. The Global preterm birth and prom testing market is estimated to be valued at US$ 1.95 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 to 2031.
Key Takeaways
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. These players are focusing on new product launches and geographic expansion strategies to strengthen their market position.
The rising awareness regarding adverse consequences of preterm birth and availability of various diagnostic tests provide significant growth opportunities in the market. Moreover, growing health expenditures and insurance coverage for maternal healthcare are prompting more women to opt for preterm birth screening.
The key players are expanding their presence globally, especially in emerging markets of Asia Pacific and Latin America. These regions witnessing increasing patient pool due to growing preterm birth incidents and rising healthcare investments by various governments.
Market Drivers
Increasing incidence of preterm birth worldwide is a major factor fueling the market growth. According to WHO, preterm birth complications are the leading cause of death among children under 5 years of age. Around 15 million babies are born preterm each year. The rising maternal stress levels, obesity, smoking, and infertility treatments are contributing to the rising preterm birth prevalence.
The growing awareness about benefits of early detection and diagnosis of preterm labor is another key driver. It allows physicians to monitor the condition closely and enables timely intervention to prevent delivery before 37 weeks of gestation. Various government and non-profit organization initiatives to educate women about preterm birth testing boost the market expansion.
Market Restraints
High cost of advanced diagnostic tests for preterm birth acts as a significant restraint. Many women in low-income countries cannot afford the expensive tests, hampering the market growth. Moreover, lack of reimbursement policies for preterm birth screening in some emerging nations also hinders the market growth. Unclear regulatory guidelines for new diagnostic procedures pose another challenge for market players.
Segment Analysis
There are various sub-segments in the Preterm birth and PROM testing market. The key sub-segments are:
- Prenatal corticosteroid administration: This treatment is administered to women who are at risk of preterm birth to reduce complications in newborns. It is the most dominating sub-segment as its usage has significantly reduced neonatal mortality and morbidity.
- Preterm birth diagnosis testing kit: This involves various diagnostic tests like fetal fibronectin test, interleukin tests, ultrasound for cervical length screening. These help detect women at risk before actual preterm birth. The fetal fibronectin test segment is the largest as it provides an early and accurate prediction of preterm birth.
- Tocolysis drugs: These drugs are used to slow down or stop labor contractions and delay delivery for a short period. Beta-mimetics like terbutaline sulfate is most commonly administered as it is effective tocolytic agent.
Global Analysis
North America region currently holds the largest market share due to advanced healthcare facilities, availability of skilled professionals, and awareness regarding adverse effects of preterm births. However, Asia Pacific is expected to grow at the fastest pace during the forecast period owing to improving healthcare infrastructure, increasing fertility rates, and elevated incidence of preterm births in developing countries like India and China. Initiatives by governments and NGOs regarding maternal and newborn care supplements market growth in the region.
The Preterm Birth And PROM Testing Market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countriesThe research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the preterm birth and PROM testing market include Abbott Laboratories, Biosynex, Clinical Innovations, LLC, Cooper Companies, Inc., Hologic, Inc., IQ Products, Medix Biochemica, NX Prenatal, Inc., QIAGEN, and Sera Prognostics, Inc.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Preterm Birth And PROM Testing Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/preterm-birth-and-prom-testing-market/download-sampleMarket DynamicsThe increasing number of preterm births due to the rising average number of women being pregnant is primarily driving the market growth.
The rising various health issues such as diabetes and high blood pressure among women is also fuelling the demand for preterm birth and PROM testing.
However, the availability of alternative diagnostic options such as ultrasound, transvaginal scan, uterine monitoring, and lab tests are likely to hamper the market growth.
Transparency Market Research (TMR) has published a new report titled, “Preterm Birth and PROM Testing - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”.
Increase in number of preterm births, growth of the medical diagnostics industry in emerging economies in regions such as Asia Pacific, and adoption of latest technologies and techniques to access or diagnose preterm births are projected to augment the global market between 2018 and 2026.Request Brochure –https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=55416Increase in Preterm Births to Propel MarketSedentary lifestyle along with several other factors has led to increase in preterm births, which has become a major concern in the past few years.
Point-of-care testing devices have also assisted in reducing the chances of complications due to preterm births by enabling diagnosis at early stages and allowing health care providers to offer immediate care to mother and fetus at early stages of pregnancy.Request COVID Analysis on Preterm Birth and PROM Testing Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19_id=55416Lack of Awareness about Preterm Births to Restrain MarketLack of awareness about preterm births and PROM could lead to longer hospital stays and preventable expenditure from the perspective of patients.
Additionally, lack of awareness about availability of latest technologies available for diagnosis of premature births, resulting in delayed diagnosis and treatment is one of the major factors hampering the growth of the market.Request Customization on Preterm Birth and PROM Testing Market Report –https://www.transparencymarketresearch.com/sample/sample.php?flag=CR_id=55416Asia Pacific Market to Grow at a Rapid PaceIn terms of revenue, the preterm birth and PROM testing market in Asia Pacific is projected to expand at a high CAGR during the forecast period.
Furthermore, surge in awareness about women’s health and increase in expenditure on health care in the region are anticipated to present lucrative opportunities in the market in the next few years.Buy Preterm Birth and PROM Testing Market Report –https://www.transparencymarketresearch.com/checkout.php?rep_id=55416=SCollaborative Efforts by Key Players to Boost MarketThe report also provides profiles of leading players operating in the global preterm and PROM testing market.
These include NX Prenatal, Inc., IQ Products, QIAGEN, Hologic, Inc., The Cooper Companies, Inc., Medix Biochemica, Abbott Laboratories, Clinical Innovations, LLC, Sera Prognostics, Inc., and Biosynex.
