Constant Innovation Name of the Game in Preeclampsia Laboratory Testing Market, Says Fairfield Market Research
LONDON, Sept. 13, 2021 /PRNewswire/ -- Preeclampsia is the third most common cause of maternal mortality in the U.S. In Africa and Asia, approx. 10% of deaths are attributed to hypertension during pregnancy. As these deaths are largely preventable with early and effective diagnosis, there is an imperative to educate the general public about eclampsia and preeclampsia, boding well for stakeholders in the global preeclampsia laboratory testing market.
Fairfield Market Research predicts that the global preeclampsia laboratory testing market was worth US$1242.9 in 2020 and should grow to US$2,021.1 Mn by 2025, witnessing a CAGR of 10.2% for the period.
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Rapid Launches and Market Flux Characterise Preeclampsia Laboratory Testing Market
Research and development collaborations coupled with relentless product launches characterise the preeclampsia laboratory testing market. In 2019, DiabetOmics, an American diagnostics company launched Lumella - a rapid point-of-care test that estimated Glycosylated Fibronectin (GlyFN) – a protein biomarker found in pregnant women prone to developing preeclampsia. In mid-2020, Igenomix and Ferring Pharmaceuticals announced their partnership to develop therapeutic strategies and improve diagnostic techniques for treating preeclampsia.
Need to Treat Preeclampsia in Time Aids Growth in Preeclampsia Laboratory Testing Market
There has been a noticeable boom in preeclampsia laboratory tests in emerging economies. As per data from the Ethiopian National Emergency Obstetric and Newborn Care, nearly 10% of both direct and indirect maternal mortality can be attributed to preeclampsia. Similar figures are reported in the world's second most populous country – India. The developed world is not spared from the burden of preeclampsia either. According to the Preeclampsia Foundation, preeclampsia short term medical costs in the U.S. alone are US $2.1 billion. While the average cost a year after delivery is typically US$ 1.03 billion, this rises to US$ 1.15 billion for infants born to mothers afflicted with preeclampsia. Thus, the necessity to treat preeclampsia-related complications directly benefits the preeclampsia laboratory testing market.
Accuracy Helps Blood Tests Secure Pole Position in Preeclampsia Laboratory Testing Market
Blood tests hold a commanding position in the test type category of the preeclampsia laboratory testing market and are on track to remain number one during the assessment period. Blood tests are far more accurate than urine tests, explaining their preference amongst patients. There have been several novel biomarkers that have been unveiled in the preeclampsia laboratory testing market recently and companies would do well to target this dynamic segment of the preeclampsia laboratory testing market.
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Federal Support and Advocacy Groups Makes U.S Critical from Bottom Line Perspective
North America dominates the global preeclampsia laboratory testing market in revenue terms, due to numerous government initiatives along with patient advocacy groups meant to offer a better diagnostics regimen. The North America preeclampsia laboratory testing market was worth US$ 465.6 million in 2020 and should witness double-digit growth until 2025. In 2019, the Food and Drug Association (FDA) authorized an advanced prenatal therapeutics (APT) breakthrough device designation for Targeted Apheresis Column for Preeclampsia (TAC-PE). APT's device specifically removes disease-causing factors from the mother's blood.
Nevertheless, the densely populated APAC region has immense potential and should not be ignored by companies actively involved in the preeclampsia laboratory testing market. China and India have the unfortunate distinction of having particularly high rates of preeclampsia. For e.g. – The Pregnancy Hypertension journal states that the occurrence of preeclampsia in China is 9.5% in 2019, demonstrating how essential pre-emptive care is.
Key Players in the Preeclampsia Laboratory Testing Market
Companies profiled in the preeclampsia laboratory testing market are SERA Prognostics, Bayer AG, Siemens Healthineers AG, Metabolomic Diagnostics Ltd., DiabetOmics Inc., DRG INSTRUMENTS GMBH, Progenity Inc. SERA Prognostics, Bayer AG, Siemens Healthineers AG, Metabolomic Diagnostics Ltd., DiabetOmics Inc., DRG INSTRUMENTS GMBH, and Progenity, Inc.
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