Canada Prenatal Testing & Newborn Screening Market Market Report 2023 to 2030

Canada Prenatal Testing & Newborn Screening Market Analysis

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Canada Prenatal Testing & Newborn Screening Market is projected to grow from $xx Mn in 2023 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2023 - 2030. The market for Prenatal Testing & Newborn Screening is expanding as a result of rising genetic disorders and advancement in technology. These factors along with increasing fetal mortality rate are growing and boosting the Prenatal Testing & Screening market. Some of the key players in the global Prenatal Testing & Newborn Screening Market include PerkinELmer Inc., Natera, Inc., Invitae Corporation, Centogene N.V., Cradle Genomics, Hoffmann-La Roche Ltd., Quest Diagnostics, Baebies, Inc., Ravgen, and Eurofins Scientific.

ID: IN10CAHS090 CATEGORY: Healthcare Services GEOGRAPHY: Canada AUTHOR: Aneri Parekh

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Canada Prenatal Testing & Newborn Screening Market Executive Summary

Canada Prenatal Testing & Newborn Screening Market is valued at around $440 Bn in 2022 and is projected to reach $1255.1 Bn by 2030, exhibiting a CAGR of 14% during the forecast period 2023-2030.

Increasing awareness of early detection, diagnosis, and treatment, prenatal testing, and newborn screening are gaining traction quickly. According to WHO, there are 6700 newborn deaths every day. Government initiatives to support prenatal testing and newborn screening, as well as other factors like the rising prevalence of genetic and chromosomal diseases, and the rapid adoption of advanced testing systems in hospitals, maternity & specialty clinics, and diagnostic centers, are anticipated to fuel growth in the global Prenatal Testing & Screening market.

In 2022, an estimated 150 Mn newborn children were screened for at least one disease. With the emergence of cutting-edge technologies like tandem mass spectrometry, the Prenatal Testing & Newborn Screening Market is expected to continue to grow as it allows the screening of more than 50 disorders.

Firms like PerkinELmer Inc., Natera, Inc., Invitae Corporation, Centogene N.V., Cradle Genomics, Hoffmann-La Roche Ltd., Quest Diagnostics, Baebies, Inc., Ravgen, and Eurofins Scientific, are some of the major players in the Alzheimer's Disease Diagnostics Market.

The market for prenatal testing and newborn screening is gradually becoming more popular with the application of machine learning and artificial intelligence. Companies in the market are able to conduct a thorough analysis of all relevant information, offer insights on various disorders, and provide a more accurate evaluation of tissue samples with the help of machine learning and AI.

The sector is expected to grow over the coming years as a result of the ongoing efforts of the key players of the Prenatal Testing & Newborn Screening market to create innovative goods and technology. The market may yet have difficulties with regard to ethical concerns like data confidentiality, overdiagnosis, and legal regulations.

Market Dynamics

Drivers of Canada Prenatal Testing & Newborn Screening Market:

Growing Prevalence of Genetic Disorders: The market for Prenatal Testing & Newborn Screening is driven by factors such as increasing awareness to identify genetic problems in fetuses and the rising incidence of chromosomal syndrome in children
Increase in Fetal Mortality: The rise in fetal mortality is propelling the consumption of Prenatal Testing & Newborn Screening, thus, boosting the market growth
Advancement in Healthcare Technology: Development in technologies like genome and exome sequencing is leading to a rise in the Prenatal Testing & Newborn Screening market

Restraints of Canada Prenatal Testing & Newborn Screening Market:

Ethical Concerns: Type of disease, data confidentiality and protection, overdiagnosis or overtreatment, information management and informed consent, justice, and legal regulation are some of the ethical issues that are predicted to restrict the growth of the Prenatal Testing & Newborn Screening market.

Key players

LifeLabs Medical Laboratory Services Dynacare CEN Biotech Inc. PerkinElmer, Inc. Agilent Technologies, Inc. Roche Diagnostics Corporation Natera, Inc. Illumina, Inc. Sequenom Laboratories (LabCorp) Thermo Fisher Scientific Inc.

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Market Segmentations for Canada Prenatal Testing & Newborn Screening Market

By Diagnostics

Invasive
Non-invasive

By Technology

Screening Technology
Diagnostic Technology

By End-user

Hospital
Diagnostic Center

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.