Preterm birth and prom testing help in detecting risks of early delivery through identifying biological markers in cervical fluid or blood. This assists doctors to provide timely intervention and customized treatment plans.
Market Dynamics:
Preterm birth remains a major public health problem. Various risk factors like previous preterm birth, short interval between pregnancies, infections in uterus are leading to the growth of this market. The global preterm birth and prom testing market is driven by increasing awareness about risk factors associated with preterm birth. With growing awareness, the demand for diagnostics tests and treatments are rising. Further, implementation of various awareness and screening programs by government and non-profit organizations are also fueling the market growth. Advancements in diagnostic technology are allowing easy, quick and non-invasive detection of risks which is a key trend influencing significant market revenue gains over the forecast period.
Two Key Drivers Driving Growth In The Preterm Birth And Prom Testing Market
One of the major drivers for the growth of the preterm birth and prom testing market is the rising cases of preterm births globally. According to recent studies by WHO, preterm birth complications are the leading cause of death among children under 5 years of age, responsible for approximately 1 million deaths in 2015. Many countries are taking initiatives to increase awareness regarding the risks and issues associated with preterm births and the available diagnostic tests in the market to detect the risks. This has significantly increased the demand for various prom and fetal fibronectin tests in the market.
Another key driver has been the technological advancements in prom and fetal fibronectin testing. Various new and improved diagnostic tests have been introduced by leading players. For example, quantitative fetal fibronectin tests can more accurately determine the risk of early delivery compared to qualitative tests. Similarly, new non-invasive prom tests allow detection of prom from a simple blood draw of the mother instead of invasive procedures like cervical examinations. The availability of easy-to-use and accurate diagnostic solutions is positively impacting the growth of the overall market.
One Major Market Restrain - High Cost Of Tests
While growth drivers are positively impacting the preterm birth and prom testing market, high cost of various diagnostic tests is a major challenge being faced by industry players. Tests ranging from fetal fibronectin assays to quantitative fetal fibronectin tests require advanced equipment and trained personnel for conducting the tests and analyzing results accurately. All these factors contribute to the overall high cost of various prom and fetal fibronectin tests available in the market. This poses affordability issues especially in developing regions of the world with weak public healthcare systems. Although demand exists, many potential customers avoid opting for expensive diagnostic tests due to budget constraints. This restrain has negatively impacted sales volumes in several low and middle-income countries.
Major Market Opportunity - Emerging Markets
One of the key opportunities for players in the preterm birth and prom testing market lies in expanding to emerging market regions. While developed countries offer a largely saturated customer base, high growth opportunities exist in developing Asian, African, Middle Eastern and Latin American markets. Factors such as rising healthcare investments, growing medical tourism, increasing per capita incomes and escalating cases of preterm deliveries in these regions are turning them into lucrative markets. Players need to introduce low-cost product offerings, establish local manufacturing and distribution networks and raise awareness through promotional campaigns to successfully tap opportunities in emerging markets. Entering high growth territories at an early stage will help establishments gain a strong foothold and reap long term rewards.
Trend Towards Non-Invasive Diagnostic Methods
A major trend being witnessed in the preterm birth and prom testing market is the increasing shift and focus towards non-invasive diagnostic methods. Compared to traditional invasive techniques, non-invasive variants provide significant advantages to both patients and healthcare providers. Benefits like elimination of risks related to needle sticks, reduced pain and discomfort, ability to detect prom early at point-of-care locations and automated platforms for high-throughput processing are fueling their popularity. Most leading brands are aggressively investing in RD to come up with novel non-invasive prom detection applications based on techniques like analysis of circulatory RNA, exosomes and cell-free DNA levels. This ongoing shift towards easy-to-use, pain-free and highly accurate non-invasive prom testing solutions is expected to define future growth trajectories in the market.
