by Preterm birth is a challenging complication of pregnancy that can potentially have lifelong impacts on infants and their families. Preterm birth and prom testing products such as ultrasound scanners, biochemical tests, and infertility testing kits help expectant mothers and doctors monitor risks and ensure healthy deliveries. The global preterm birth and prom testing market comprises an array of diagnostic tools and technologies for assessing fetal lung maturity, length of gestation, and the likelihood of preterm deliveries. Advances in preterm birth screening have enabled earlier detection of at-risk pregnancies, allowing medical professionals to recommend timely treatments and interventions. By facilitating informed decision making among patients and clinicians, prom testing plays a pivotal role in optimizing maternal and neonatal outcomes.
The global Preterm Birth And Prom Testing Market is estimated to be valued at US$ 1.69 Bn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the primary drivers contributing to the growth of the preterm birth and prom testing market is the increasing adoption of point-of-care testing (POCT). This testing method provides rapid test results during clinical visits, enabling timely clinical management. POCT enables decentralized testing outside the conventional laboratory setup, bringing diagnostics closer to patients. This is especially important for monitoring high-risk pregnancies in remote locations. Manufacturers are focusing on developing affordable, easy-to-use, and portable POCT kits for fetal fibronectin, ferning tests, and other biofluid analyses. Advancing digital technologies are also facilitating remote patient monitoring and expanding access to testing in developing nations. Wearable biosensor devices and smartphone-based applications represent new frontiers with significant potential to transform prenatal care management and diagnosis of preterm births.
Porter’s Analysis
Threat of new entrants: The preterm birth and prom testing market have high capital requirements and strict regulatory standards, making it difficult for new companies to enter.
Bargaining power of buyers: Buyers have moderate bargaining power as there are many established players offering similar products.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power as there are many raw material suppliers.
Threat of new substitutes: Threat of substitutes is low as there are limited alternative testing options available for preterm birth and prom.
Competitive rivalry: The market is competitive with presence of key global players.
Key Takeaways
The Global Preterm Birth And Prom Testing Market Size is expected to witness high growth. The North American region currently dominates the market due to high awareness levels and developed healthcare infrastructure. Rising healthcare expenditure and increasing government support are factors expected to drive the growth of preterm birth and prom testing market in the region.
Regional analysis key players operating in the preterm birth and prom testing market are Huawei Technologies Co., Ltd.,ZTE Corporation,Nokia Corporation,ADTRAN, Inc.,Calix, Inc.,Cisco Systems, Inc.,Ericsson AB,FiberHome Technologies Group,Fujitsu Ltd.,NEC Corporation,Sumitomo Electric Industries, Ltd.,Dasan Zhone Solutions, Inc.,Iskratel d.o.o.,Mitsubishi Electric Corporation,Tellabs, Inc.
Key players operating in the preterm birth and prom testing market are Huawei Technologies Co., Ltd.,ZTE Corporation,Nokia Corporation,ADTRAN, Inc.,Calix, Inc.,Cisco Systems, Inc.,Ericsson AB,FiberHome Technologies Group,Fujitsu Ltd.,NEC Corporation,Sumitomo Electric Industries, Ltd.,Dasan Zhone Solutions, Inc.,Iskratel d.o.o.,Mitsubishi Electric Corporation,Tellabs, Inc. Technological advancements by these players would aid market growth over the forecast period.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
