AI Products 

Preterm Birth And POM Testing Market Estimated To Witness High Growth Owing To Increasing Acquisitions And Collaborations

gauri kanale
  Preterm Birth And POM Testing Market Estimated To Witness High Growth Owing To Increasing Acquisitions And Collaborations

The preterm birth and prom testing market is estimated to be valued at US$ 1.69 billion in 2023 and is expected to exhibit a CAGR of 12.5% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Preterm birth and prom testing help identify women who are at high risk of preterm birth. Preterm birth is defined as any birth before 37 weeks of gestation. Preterm birth complications are the leading cause of death among children under 5 years of age, globally. Prom testing measures the level of fetal fibronectin (fFN) in cervicovaginal secretions, which increases as the pregnancy progresses towards parturition. Negative fFN results help reassure a patient that delivery is not imminent, avoiding unnecessary interventions.

Market Dynamics:

The preterm birth and prom testing market is driven by increasing acquisitions and collaborations between key players. For instance, in May 2022, Medix Biochemica acquired Sera Prognostics, a leading innovator in clinical diagnostics for early prediction of preterm birth. This acquisition strengthens Medix Biochemica's position in preterm birth prediction testing. Abbot Laboratories has also launched a new point-of-care test for assessing the risk of preterm birth. Detecting fFN levels, the new test delivers lab-accurate results in just 10 minutes, allowing faster clinical decisions. These initiatives will help expand testing volumes as well as adoption rates globally over the forecast period. Additionally, rising preterm birth rates around the world propel the need for preterm birth and prom testing. According to WHO, preterm birth complications account

Segment Analysis

The Global Preterm Birth And Prom Testing Market is segmented into diagnostic devices and assays. The diagnostic devices segment dominated the market in 2022 due to the increasing demand for portable ultrasound monitors to diagnose preterm birth at early stages. These portable ultrasound monitors provide quick results with high accuracy, which has increased their adoption among healthcare professionals.

PEST Analysis

Political: The governments in various countries are investing heavily to create awareness among women regarding risks of preterm birth and the availability of diagnostic tests. This is expected to boost the market growth.

Economic: The rising per capita healthcare expenditure provides ample growth opportunities for players in this market. Additionally, reimbursements for prom tests are supporting the market expansion.

Social: The increasing health consciousness among people and growing acceptance of modern diagnostic techniques for preterm birth testing is fueling the market demand.

Technological: Continuous innovations are helping market players to develop rapid, accurate, and portable diagnostic devices for early detection of preterm birth. Advances in assay procedures are also augmenting the market.

Key Takeaways

The global preterm birth and prom testing market is expected to witness high growth, exhibiting a CAGR of 12.5% over the forecast period, due to increasing awareness about availability of diagnostic tests and risks of preterm birth.

The U.S. dominates the market currently due to increasing healthcare expenditure, advanced healthcare infrastructure, and high adoption of modern diagnostic techniques for preterm birth. Favorable reimbursement policies are also supporting the market growth in the region.

Regional analysis

The Asia Pacific region is projected to grow at the fastest pace during the analysis period. This can be attributed to growing population, improving access to healthcare facilities, rising healthcare expenditure, and increasing focus of market players on tapping growth opportunities in emerging Asian countries.

Key players

Key players operating in the preterm birth and prom testing market are Abbott Laboratories, Biosynex, Qiagen Sciences LLC, Clinical Innovations LLC, Sera Prognostics, The Cooper Companies Inc., Medixbiochemica, Hologic Inc., IQ Products, NX Prenatal Inc., Promega Corporation, Medical Predictive Technologies Inc., Biosynex, Clinical Innovations LLC, NX Prenatal Inc., Medixbiochemica, Qiagen Sciences LLC, Sera Prognostics Inc., Insight Pharmaceuticals LLC, Creative Diagnostics.


Read More: https://www.rapidwebwire.com/preterm-birth-and-prom-testing-market-scope/

gauri kanale
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more