Preterm Birth Diagnostic Test Kits Market size is set to gain remarkable traction form 2022 to 2028, owing to the rising awareness about the long-term health problems of premature babies, including intellectual and developmental disabilities. Furthermore, the emergence of neonatal complications as the leading cause of death among children under 5 years of age will further proliferate the need for preterm labor diagnostic tests in the coming years. A premature birth refers to a birth that takes place prior to the start of the 37th week of the pregnancy, leading to complicated medical problems. Preterm baby management includes the fetal fibronectin test, which provides valuable information on the signs and symptoms of preterm labor, thus enabling healthcare providers to take necessary steps to prevent premature birth.
Introduction of varied initiatives to reduce newborn mortality is one of the prominent trends impelling the preterm birth diagnostic test kits market dynamics through 2028. Initiatives, including Every Newborn Action Plan, are focused on preventing stillbirth could significantly accelerate progress in terms of preterm birth clinical diagnosis across the globe. In January 2021, Sera Prognostics, Inc. partnered with HealthCore, Inc. and Anthem, Inc. to launch the PRIME study to evaluate the effectiveness of PreTRM test with clinical interventions to improve neonatal outcomes. Such clinical studies, alongside the rising prevalence of preterm birth in the United States, could assert a positive influence on the overall market outlook in the coming years.
Based on end-use, the diagnostic laboratories segment will hold a considerable share in the preterm birth diagnostic test kits market by 2028, which can be credited to the rapid launch of laboratories in developing countries. However, the growing burden on diagnostic labs to conduct COVID-19 testing may create a hindrance to the deployment of preterm labor diagnostic tests in these labs to a certain extent.
The Asia Pacific preterm birth diagnostic test kits market is projected to register a high revenue by 2028. This is given the significant increase in healthcare spending and the high emphasis of healthcare practitioners on improving the outcomes for premature babies in the region. As per GE Healthcare’s data, 60% of the world’s preterm births occur in India. This, coupled with the increased investment to provide education assistance for premature babies in Australia, will also contribute to the regional expansion during the forecast timeframe.
Some of the major industry players include CooperSurgical, Inc., Biosynex, Sera Prognostics, Qiagen, Medix Biochemica (Minerva Foundation), IQ Products, Hologic, Creative Diagnostics, Clinical Innovations (Laborie Medical Technologies, Inc.), and Abbott. New product launches, business expansions, and partnerships are the key initiatives being undertaken by these companies to reinforce their presence across the competitive market.
The restrictions imposed during the coronavirus pandemic have impacted the quality and provision of neonatal care. The globally implemented restrictive measures have led to the limited family and parental presence for infants at the neonatal ICUs. Also, reduction in care-seeking by parents as well as lack of guidelines on preterm newborns amid the crisis have adversely affected the industry.
However, the potential increase in premature birth rates among pregnant women diagnosed with COVID-19, with their babies more likely to be admitted to neonatal units, may aid the industry recovery over the coming years. According to data collected from 2 registries that tracked above 4,000 women with suspected or confirmed COVID-19 in the UK and the U.S, pregnant women had higher rates of preterm delivery than those without the disease infection, which could boost the demand for preterm birth diagnostics and treatments.
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