SANTA CLARA, Calif., Sept. 12, 2017
Transitioning to NGS-based workflows from microarray will hasten growth opportunities to create tests with better specificity and cost, finds Frost & Sullivan's Transformational Health team
SANTA CLARA, Calif., Sept. 12, 2017 /PRNewswire/ -- The United States (U.S.) prenatal genetic testing market is experiencing accelerated growth, with industry disruptions and lifestyle changes creating novel revenue opportunities. Factors stimulating growth include demand for prenatal genetic tests due to enhanced assay outcomes through non-invasive methodologies and a growing number of women choosing to become pregnant at an advanced maternal age. High demand has led to a significant level of merger and acquisition activity and numerous collaborations, which have bolstered the product portfolio of several companies in the women's healthcare segment.
Frost & Sullivan's research, Growth Opportunities in the US Prenatal Genetic Testing Market, Forecast to 2021, finds that the market is expected to reach $2.45 billion by 2021 and register a compound annual growth rate of 10.1 percent from 2016 to 2021. The analysis identifies current and expected market developments; drivers and restraints; mergers and acquisitions; competitive dynamics; and revenue forecasts across four segments, namely non-invasive pregnancy testing, carrier screening for cystic fibrosis, invasive testing, and miscarriage tests. It also discusses the impact of Protecting Access to Medicare Act (PAMA) and the laboratory-developed test (LDT) guidelines issued by the Food and Drug Administration.
To access more information on this analysis, please click here.
"Companies are exploring new avenues to market their products, thereby strategically tying up with in vitro fertilization (IVF) clinics, physicians, and obstetrician-gynecologists (OBGYNs). New business models like direct-to-consumer (DTC) are seeing increased uptake due to ease of use and hassle-free processing," said Transformational Health Senior Industry Analyst Supratik Paul. "Partnerships with big data companies will be the next big leap in the prenatal genetic testing market, thereby providing interpretation of vast volumes of data to increase specificity and sensitivity."
Strategic imperatives for prenatal genetic test providers include:
"Companies are shifting toward online and retail-like business models such as DTC to promote the use of tests. Such DTC companies can stifle the growth of expensive, physician-prescribed LDT tests as there will be a higher preference toward low-cost options," noted Paul. "In addition, approximately 60 to 65 percent of the prenatal genetic tests are now switching to next-generation sequencing (NGS) methodologies. Transitioning to NGS-based workflows from microarray will open up opportunities to create tests with better specificity, sensitivity and cost."
Growth Opportunities in the US Prenatal Genetic Testing Market, Forecast to 2021 is part of Frost & Sullivan's Life Sciences Growth Partnership Service program.
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Growth Opportunities in the US Prenatal Genetic Testing Market, Forecast to 2021
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