The most recent study conducted by Report Ocean, titled “Global Preterm Birth Diagnostic Test Kits Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Preterm Birth Diagnostic Test Kits. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Preterm Birth Diagnostic Test Kits Market is valued approximately USD $ billion in 2020 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2021-2027. Preterm birth, also known as neonatal birth, occurs when a baby is born before the 37th week of pregnancy. Preterm birth diagnostic tests are widely used to prevent and manage premature births, which is driving the market for preterm birth diagnostic test kits to rise. The factors driving the growth of this market are the ever-increasing high birth rate in developing and developed countries, the rising prevalence of premature births, technological advancements in preterm birth diagnostic tests due to heavy investments in research and development activities, and government initiatives to increase neonatal survival rates.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
According to UNICEF (United Nations International Children’s Emergency Fund) figures, around 2.5 million children died in the first four weeks following birth around the world in 2017. In 2017, there were approximately 115.4 million births, with 11.1 percent of those being premature, or around 12.8 million births. However, high premature birth investment, high entrance barriers owing to regulatory compliances, a lack of technical competent staff, and inadequate neonatal care accessibility, particularly in developing nations, are all factors that could stifle business growth. Moreover, high birth rate in developing countries such as India, Brazil, China, and Other offers opportunities during the forecasting years.
The key regions considered for the global Preterm Birth Diagnostic Test Kits market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share owing to the increasing high birth rate in developing and developed countries, the rising prevalence of premature births. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2021-2027.
Major market player included in this report are:
Qiagen
Medix Biochemica
Hologic Inc.
Sera Prognostics
IQ Products
Creative Diagnostics
Nanjing Liming Biological Preparations Co., Ltd.
Clinical Innovations, LLC
Bioserv Diagnostic GmbH
Abbott
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Fetal Fibronectin Test Kits (fFN)
Placental Alpha Micro-globulin-1 test kits (PAMG-1)
Insulin like Growth Factor Binding Protein-1 test kits (IGFBP-1)
Others
By Sample:
Blood Sample
Urine Sample
Vaginal Discharge Sample
By End User:
Hospitals
Diagnostic Laboratories
Pediatric and Neonatal Clinics
Other
By Region:
North America
U.S.
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Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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