The Global Preterm Birth And Prom Testing Market Consists of preterm birth prediction and prevention solutions including prom testing kits, cervical cerclage, and medications. Prom testing detects fetal fibronectin in cervicovaginal secretions which indicates the risk of preterm delivery. It has gained popularity as an easy, non-invasive screening tool used by healthcare providers to identify pregnant women at risk. The Global preterm birth and prom testing market is estimated to be valued at US$ 1.95 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the preterm birth and prom testing market are Sanofi S.A., AbbVie Inc., Perrigo Company PLC, 3M, Lee’s Pharmaceutical Holdings Ltd, Cassiopea, Glenmark Pharmaceuticals, Bausch Health, and Novartis International AG.
The Global Preterm Birth And Prom Testing Market offers lucrative growth opportunities owing to the rising rate of premature births globally and the need for early detection techniques. Prom testing kits have been evolving with advancements like quantitative measurement of fetal fibronectin levels and home-use formats for convenient monitoring.
Technological advancements in prom testing include digitalization of fetal fibronectin readings, rapid antigen detection kits, and smartphone-based detection methods. This has made screening more affordable and accessible even in low-resource areas.
Market drivers
Increasing premature birth rates worldwide due to risk factors like multiple births, uterine/cervical issues, and chronic maternal health conditions are driving the need for prom testing and preventive measures. According to WHO, over 15 million babies are born preterm each year amounting to more than 1 in 10 infants globally. Early detection and timely management can significantly reduce mortality and morbidity.
Current challenges in Preterm Birth And Prom Testing Market:
The preterm birth and prom testing market faces several challenges. One of the major challenges is the lack of awareness among people about the importance of early detection and preventive care. This leads to delayed diagnosis and late interventions. It is also challenging to accurately predict and diagnose preterm labor at an early stage. Developing highly accurate predictive diagnostic tests is an area that needs more focus and investments from market players. Affordability is another key issue, as many people in developing nations cannot afford expensive medical tests and treatments. This negatively impacts early screening and timely management of high-risk pregnancies.
SWOT Analysis
Strength: Advancing diagnostic technologies are enabling more accurate prediction and diagnosis of preterm birth. This is helping clinicians intervene at an early stage.
Weakness: High cost of advanced diagnostic tests limits their widespread adoption, especially in low and middle-income countries.
Opportunity: Growing awareness programs can increase regular checkups and early screening of at-risk pregnancies.
Threats: Inaccurate test results can lead to unnecessary stress for mothers and unnecessary medical interventions. Lack of diagnostic infrastructure in rural areas is also a challenge.
Geographical regions:
North America currently dominates the preterm birth and prom testing market in terms of value, given the availability of advanced healthcare infrastructure and diagnostic technologies. According to estimates, the North America preterm birth and prom testing market was valued at over US$ 500 Mn in 2020. Europe is another major regional market supported by high consumer awareness and government focus on women’s healthcare. The Asia Pacific region is expected to witness the fastest growth during the forecast period due to rapid improvements in medical facilities, growing focus on women’s health, and rising medical tourism. Countries like India, China, and Japan will be key emerging markets.
Fastest growing region:
The Asia Pacific region holds significant growth potential for the preterm birth and prom testing market. Factors such as rising healthcare expenditures, growing focus on women’s health, increasing adoption of advanced diagnostic technologies, and expansion of private healthcare sectors in various countries are aiding regional market growth. Additionally, improving public-private collaborations are enhancing diagnostic capabilities in rural areas. These factors are expected to position the Asia Pacific region as the fastest growing regional market during the forecast period from 2024 to 2031, expanding at an estimated CAGR of over 6%. China, India, Japan, and South Korea will be major country-level markets driving the Asia Pacific preterm birth and prom testing market.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it