According to the new market research report "Non Invasive Prenatal Testing (NIPT) Market by Product (Consumables, Reagent, Ultrasound, NGS, PCR, Microarray), Services, Method (cfDNA, Biochemical Markers), Application (Aneuploidy, Microdeletion) End-User (Hospital, Labs)-Global Forecasts to 2024", published by MarketsandMarkets™, the Non Invasive Prenatal Testing (NIPT) Market is estimated to reach USD 7.3 billion by 2024 from USD 3.9 billion in 2019, at a CAGR of 13.5% during the forecast period.
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The major factors driving the growth of this Non Invasive Prenatal Testing (NIPT) Market include the growing preference for non-invasive techniques over invasive methods, rising focus on reimbursement for NIPT, the launch of new and advanced NIPT products, and increasing maternal age (growth in the risk of chromosomal abnormalities in babies). Furthermore, untapped emerging markets are expected to offer potential growth opportunities to players operating in the NIPT Market during the forecast period. On the other hand, a dearth of skilled professionals is expected to restrain the growth of this market in the coming years.
Key Market Players
The non-invasive prenatal testing market is highly consolidated in nature with several big and emerging players. Illumina, Inc. (US), Thermo Fisher Scientific Inc. (US), GE Healthcare (US), BGI (China), Agilent Technologies, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), PerkinElmer Inc. (US), Laboratory Corporation of America Holdings (US), Natera, Inc. (US), and Yourgene Health (UK) are some of the key players in the market. These players have adopted various growth strategies, such as new product service launches upgrades; expansions; acquisitions; and partnerships, agreements, collaborations to further expand their presence in the global market.
Partnerships, agreements, and collaborations have been the key growth strategies adopted by players from 2016 to 2018. Some of the leading players who adopted these strategies include PerkinElmer (US), Premaitha Health plc (UK), Natera, Inc. (US), Illumina, Inc. (US), and Thermo Fisher Scientific (US).
Illumina, Inc. (US)
Illumina is one of the major players in the non-invasive prenatal testing market. The company offers a range of highly interconnected products related to sequencing, genotyping, gene expression, and molecular diagnostics. It also offers whole-genome sequencing, genotyping, NIPT, and support services which further strengthen its market position.
Over the past three years, Illumina has launched several products to sustain its leading position in the NIPT market. For this purpose, the company has invested a significant amount of its revenue on RD expenditure. In 2018, Illumina invested 18.6% of its revenue on RD. In January 2019, Illumina expanded its NIPT platform portfolio with the launch of its VeriSeq NIPT Solution v2.
The company also focuses on inorganic strategies with leading players in the market to co-develop advanced technologies and strengthen its research commercialization capabilities. Illumina is expected to grow at a high rate in the NIPT market during the forecast period, owing to its strong product portfolio, product innovation capabilities, and wide geographic presence.
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Thermo Fisher Scientific, Inc. (US)
Thermo Fisher Scientific is one of the key players in the NIPT market. It offers an extensive range of products, including analytical instruments, reagents consumables, software, and services for research, analysis, discovery, and diagnostics. In addition to a robust product portfolio, Thermo Fisher Scientific also has a substantial geographical presence. The firm adopts various organic and inorganic strategies in order to retain its position in the market. In line with this, in March 2016, Thermo Fisher Scientific acquired Affymetrix, Inc. (US), a leading provider of life science molecular diagnostic products for USD 1.3 billion. This acquisition enabled the company to strengthen its bioscience genetic analysis capabilities. The company also invests heavily in RD activities to develop new solutions. For instance, in 2018, it invested USD 967 million in RD activities. With its strong product portfolio and wide geographic presence, Thermo Fisher Scientific is expected to witness rapid growth in the NIPT market during the forecast period.
GE Healthcare (US)
GE Healthcare held the third leading position in the global NIPT market in 2018. The company has a broad product portfolio for ultrasound devices. Besides this, it also has a strong geographical presence across 180 countries and a wide customer base in emerging economies. GE Healthcare focuses on product launches by developing technologically advanced ultrasound systems and software for prenatal examination. The company also focuses on inorganic strategies such as agreements, partnerships, and collaborations to ensure continuous growth in the global NIPT market. GE Healthcare launched the Voluson E10 ultrasound system, which is specifically designed for OB/GYN applications. The company’s leading position in the NIPT market can be attributed to its comprehensive product portfolio, strong global presence, and focused RD investments.
"North America dominated the NIPT Market "
In 2018, North America dominated the Non Invasive Prenatal Testing (NIPT) Market, followed by Europe. The large share of this market can primarily be attributed to the strong economies in the US and Canada, which have allowed for significant investments in technology in this region. Growth in the North American market is supported by the presence of a better reimbursement structure and a favorable funding scenario for research activities, rising awareness about NIPT, and the increasing demand for the early detection of birth defects in this region.
Recent Developments:
- BGI and Eluthia (Germany) launched the NIFTY test (non-invasive prenatal test), under the brand name PreviaTest in Germany.
- Illumina expanded its NIPT platform with the launch of VeriSeq NIPT Solution v2.
- Illumina and Pacific Biosciences signed an agreement for Illumina to acquire Pacific Biosciences. This acquisition will allow Illumina to strengthen its sequencing solutions platform with accurate long-read sequencing capabilities.
- Agilent Technology acquired Multiplicom N.V. (Belgium) in order to create comprehensive offerings for next-generation sequencing solutions. Multiplicom develops and commercializes molecular diagnostic solutions which are useful in the identification of congenital defects early in pregnancy and other genetic diseases
Related Reports:
Non Invasive Prenatal Testing (NIPT) Market by Product (Consumables, Reagent, Ultrasound, NGS, PCR, Microarray), Services, Method (cfDNA, Biochemical Markers), Application (Aneuploidy, Microdeletion) End-User (Hospital, Labs)-Global Forecasts to 2024
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