Growing acceptance rates of rapid diagnostic tests for preterm births prevention and management coupled with the prevalent preterm cases are expected to favour the rise in preterm birth diagnostic test kits market
Global Preterm Birth Diagnostic Test Kits Market, by Product Type (fFN Test Kits, PAMG-1 Test Kits, and IGFBP 1 Test Kits), by Sample Type (Blood Sample, Urine Sample, and Vaginal Discharge), by Distribution Channel (Hospitals, Diagnostic Laboratories, Outpatient Clinics, and Research Centres) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
As per the report, the global preterm birth diagnostic test kit market witness slow yet steady growth, accounting for the growing adoption of such diagnostic test kits by the people across the globe. In addition, the increasing demand for cost-effective diagnosis of preterm births at hospitals, upsurge in outpatient clinics and diagnostic laboratories, and the easy application of home-based point of care blood testing diagnostic test kits.
Furthermore, the easy availability of preterm birth diagnostic test kits over the traditional supply chain systems, and the growing awareness about the preterm birth through numerous campaigns are also expected to boost the market growth during the forecast years. On the contrary, the expensive cost and unmet needs along with the inaccurate results and false-positive diagnosis leading to unnecessary hospitalization are likely to restrict the demand for preterm birth diagnostic test kits, as a result hampering the growth of this market.
Furthermore, Meridian Market Consultants (MMC) Study identifies that the factors including the improving point-of-care diagnostics, social and economic factors, and the mounting count of preterm births also aids in propelling the market growth. The cumulative geographical foothold of key players of this market, surge in demand for effective preterm diagnosis, and the adoption of biomarker test kits also influences positive growth to this market. Additionally, the growing adoption of numerous business strategies like collaborations, mergers, new product launches and acquisitions also boosts the market growth.
For instance, Sera Prognostics, Inc. received a clinical laboratory certificate for Sera to perform PreTRM testing for expecting women in the state of New York in December 2018. Additionally, with the help of approval Sera commercializes the PreTRM test in New York.
MMC Study identifies some of the key participating players in preterm birth diagnostic test kits market globally are BIOSERV Diagnostics GmbH, Clinical Innovations, LLC, Cooper Surgical Inc., Creative Diagnostics, Hologic, Inc., IQ Products, Medixbiochemica, Nanjing Liming Biological Preparations Co., Ltd., Qiagen Sciences, LLC, and Sera Prognostics
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