Preterm birth and prelabor rupture of membranes (PROM) testing help in the early detection of preterm births as well as premature rupture of membranes thereby reducing associated risks and complications. Testing includes methods like biochemical testing of vaginal fluids, fetal fibronectin screening, and ultrasound for cervical length measurement.
The global Preterm Birth and PROM Testing Market is estimated to be valued at US$ 1.69 Bn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The incidence of preterm births has increased dramatically over the past few decades owing to rising risk factors such as unmanaged maternal health conditions, infertility treatments, multiple pregnancies, smoking, and substance abuse during pregnancy. As per the National Center for Health Statistics, about 1 of every 10 infants in the United States is born preterm. Therefore, the focus on screening and diagnosing preterm births at an early stage through testing is growing. This is fueling the adoption of preterm birth and PROM testing worldwide. Advances in testing methods are also helping improve detection rates and enabling early intervention when required. All these factors together are expected to drive the preterm birth and PROM testing market substantially during the forecast period.
SWOT Analysis
Strength: The Global Preterm Birth And Prom Testing Market Size offers solutions to diagnose preterm birth conditions at an early stage. This allows timely medical intervention and management of risks.
Weakness: Prom tests have a relatively high false positive rate which causes unnecessary stress and intervention. Test accuracy can vary significantly between different populations and demographics.
Opportunity: Growing awareness about complications of preterm births and benefits of early detection create potential for market growth. New technologies may further improve test accuracy and help expand the accessible population.
Threats: Strict regulatory framework and insurance policies can delay market entry of new solutions. Economic slowdowns may negatively impact disposable income available for healthcare spending.
Key Takeaways
The global preterm birth and prom testing market is expected to witness high growth over the forecast period supported by rising awareness, healthcare investments, and new product introductions. The global preterm birth and prom testing market is estimated to be valued at US$ 1.69 Bn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030.
North America currently captures over 30% of the global market share led by the US. Asia Pacific is expected to emerge as the fastest growing regional market expanding at a CAGR of around 5.4% between 2023-2030. This can be attributed to factors like rising healthcare investments, expanding medical insurance coverage, and increasing patient access to diagnostics in developing Asian countries.
Key players operating in the preterm birth and prom testing market include Sanofi S.A., AbbVie Inc., Perrigo Company PLC, 3M, Lee’s Pharmaceutical Holdings Ltd, Cassiopea, Glenmark Pharmaceuticals, Bausch Health, and Novartis International AG. These players are engaged in new product development, partnerships, and geographic expansion strategies to strengthen their market position. For instance, Sanofi launched the Isosens test kits to detect premature births through a simple urine test. Glanmark Pharma received USFDA approval for Hydroxyprogesterone Caproate injection to lower preterm birth risks in at-risk pregnant women.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it