Technavio analyzes that the Newborn Screening Market is expected to grow at a CAGR of 8.2% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 434.9 million.There are various factors that contribute to the growth of the market. Newborn screening is a crucial health initiative aimed at identifying and treating congenital disorders in infants at an early stage. The prevalence of these disorders is significant, with some estimates suggesting that approximately 1 in every 33 babies in the United States is born with a birth defect. Congenital disorders encompass a wide range of conditions, including metabolic disorders, genetic disorders, and infections, among others. Early detection and intervention through newborn screening can significantly improve outcomes for affected infants, making this a vital public health priority.
The global newborn screening market is significantly driven by hospitals, serving as pivotal end users in ensuring newborns undergo essential health screenings. Leading hospitals, such as Hospital Colorado, implement advanced newborn screening programs, utilizing both fully and semi-automated instruments, including incubators, shakers, and refurbished products. These programs prioritize the detection of various congenital disorders, like congenital hypothyroidism, congenital adrenal hyperplasia, glucose-6-phosphate dehydrogenase deficiency, galactosemia, and biotinidase deficiency. Early identification of these conditions is crucial for timely intervention and effective treatment, resulting in improved health outcomes for affected infants. Investing in hospital infrastructure not only bolsters healthcare but also the broader community, as hospitals and health systems account for approximately one out of every nine jobs in the United States.
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Newborn Screening Market Segmentation
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The Newborn Screening Market encompasses diagnostic tools and techniques for identifying congenital diseases in the neonatal population. These disorders include congenital hypothyroidism, inborn metabolic abnormalities, spinal muscular atrophy, and congenital heart disease, among others. Screening methodologies include tandem mass spectrometry, electrophoresis, hearing screen, and incubators with shakers. Manitoba and WHO reports highlight the importance of early detection and intervention for child survival. Fully and semi-automated instruments, refurbished products, and hearing and metabolic disorder screens are market offerings. Healthcare providers utilize these tools to detect newborn disorders such as genetic and hormonal disorders, enabling timely intervention and reducing child deaths.
The Newborn Screening Market encompasses the earnings derived from the sale of healthcare applications, IT systems, internet-based healthcare tools, telehealth technologies, and digital health technologies, as well as IT consulting services to healthcare providers, clinics, and businesses. According to Technavio, the global healthcare market size is determined by the consolidated revenue generated by manufacturers, suppliers, pharmaceutical companies, biotechnology firms, healthcare technology vendors, and life sciences tools and services providers. The expansion of the healthcare technology market is influenced by factors affecting both the healthcare industry and IT expenditure market. Notable drivers include the persistent demand to cut costs in the healthcare sector, spanning both developed and emerging economies.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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