Unlocking Potential: How Technology is Transforming the Global Preterm Birth Diagnostic Test Kits Market

fmiblogs507 April 30, 2024

5 min read

The global preterm birth diagnostic test kits market, which recorded sales of $121.3 million in 2021, is poised for significant growth, with sales expected to reach US$ 203.2 million by 2028. Over the forecast period of 2022–2028, the market is projected to grow at a compound annual growth rate (CAGR) of 7.6%.

Preterm birth, a leading cause of neonatal mortality and morbidity worldwide, necessitates early detection and intervention to mitigate adverse outcomes. The demand for preterm birth diagnostic test kits is on the rise, driven by the pressing need to identify high-risk pregnancies and implement timely interventions.

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Key Findings Presented in the Report on the Preterm Birth Diagnostic Test Kits Market:

According to the data, the number of births in 2017 was roughly 115.4 million, of which 12.8 million or 11.1% were preterm. Preterm birth problems are the biggest cause of death for children under the age of five, according to the World Health Organization. In 2015, they were directly responsible for around one million deaths. Of these, cost-effective measures can avoid three-quarters of these deaths. Across different regions, preterm birth diagnostic test kit adoption rates varied from 2% to 15%. A substantial chunk of the preterm birth test kit market has gone untapped, leaving it open for manufacturers of preterm diagnostic test kits. This is because the majority of the current patient pool is ignorant of the cost-saving advantages of preterm birth diagnostic test kits.

Analysis of the Preterm Birth Diagnostic Test Kits Market:

The most common sample used for preterm labor and premature membrane rupture diagnosis in preterm birth diagnostic test kits is blood. The most popular and widely recognized preterm birth diagnostic test kits among end users are those that employ blood samples for preterm birth diagnosis. On the other hand, preterm birth diagnostic test kits using vaginal discharge sample type are becoming more and more common.

Patients experiencing symptoms of preterm birth are primarily referred to hospitals, outpatient clinics, and diagnostic laboratories that use preterm birth diagnostic tests. Because they are the principal healthcare institution for preterm cases, hospitals are expected to account for the majority of the revenue share under the end users segment for the preterm birth diagnostic test kits market in 2017.

Preterm Birth Diagnostic Test Kits Market – Competitive Landscape:

The key players of this market are adopting strategies such as product launch, acquisition, partnership and collaborations to gain expand their market presence and open up new streams of revenue generation.

In June 2021, Medix Biochemica announced the launch of a new molecular diagnostic reagents division named “MedixMDx” to offer extensive range of products and services for their customers.
In September 2020, QIAGEN announced the acquisition of NeuMoDx Molecular Inc., which helped the company to complete their product portfolio of PCR technology based automated molecular testing solutions.
In May 2021, Sera Prognostics announced a strategic commercial partnership with Anthem Inc., to make their “PreTRM® “tests available to all the customers of Anthem in the U.S.

Since the awareness of preterm birth diagnostic test kits is increasing, the demand for these kits will rise in the next few years. This creates many lucrative opportunities for the key players of this industry.

Key Companies Profiled: