Pediatric And Neonatal Testing Kit Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope
A pediatric and neonatal testing kit refers to a collection of medical devices, instruments, and tools specifically designed and curated for assessing and diagnosing infants, newborns, and children. These kits are used by healthcare professionals, such as pediatricians, neonatologists, nurses, and other medical staff, to aid in diagnosing, monitoring, and treating infants and children.

Sizing and Forecast
The pediatric and neonatal testing kit market size has grown strongly in recent years. It will grow from $3.7 billion in 2023 to $4.02 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%.  The  growth in the historic period can be attributed to advancements in pediatric and neonatal care, increased focus on child health, expansion of healthcare infrastructure, growing awareness of prenatal testing, evolving regulatory landscape.

The pediatric and neonatal testing kit market size is expected to see strong growth in the next few years. It will grow to $5.51 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%.  The growth in the forecast period can be attributed to rise in demand for non-invasive testing methods, expansion of point-of-care testing in pediatrics, increasing investments in neonatal and pediatric research, adoption of digital health solutions. Major trends in the forecast period include development of rapid and accurate testing kits, implementation of next-generation sequencing in pediatric diagnostics, expansion of newborn screening programs, increasing focus on metabolic testing in neonates, integration of artificial intelligence in diagnostic tools.

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Segmentation & Regional Insights
The pediatric and neonatal testing kit market covered in this report is segmented –

1) By Test Type: Dried Blood Spot, Hearing Screening, Critical Congenital Heart Defect (CCHD), Other Test Types
2) By Product: Assay Kits And Reagents, Instruments
3) By Technology: Tandem Mass Spectrometry, Pulse Oximetry, Enzyme-Based Assays, DNA Based Assays, Electrophoresis, Others Technologies
4) By End User: Hospitals, Diagnostic Centers, Maternity And Specialty Clinics, Other End Users

North America was the largest region in the pediatric and neonatal testing kit market in 2023. The regions covered in the pediatric and neonatal testing kit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East,  Africa.

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Major Driver Impacting Market Growth

The increased prevalence of congenital disorders in newborn babies is driving the pediatric and neonatal testing kit market going forward. Congenital disorders occur during fetal development or are present at birth. Pediatric and neonatal screening is beneficial in detecting the presence of any congenital disabilities and helps healthcare professionals to treat those defects at an early stage. For instance, in February 2023, according to the World Health Organization (WHO), a Switzerland-based specialized health agency of the United Nations, approximately 240,000 babies in the world die within the first 28 days of birth due to congenital disorders every year. About 170,000 children die between the ages of 1 month to 5 years due to congenital conditions. Further, in December 2022, according to the European Commission, a Europe-based independent executive arm, the prevalence of anomalies per 10,000 in 2020 was 253.38, and termination of pregnancy for the congenital anomaly (TOPFA) was 58.22 in 2020. Therefore, the increasing prevalence of congenital disorders drives the pediatric and neonatal testing kits market.

Key Industry Players

Major companies operating in the pediatric and neonatal testing kit market report are F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Medtronic Plc, Siemens Healthineers, GE Healthcare GmbH, Eurofins Scientific SE, Trivitron Healthcare Pvt Ltd., Hologic Inc., PerkinElmer Inc., Quidel Corporation, Bio-Rad Laboratories Inc., QIAGEN NV, Masimo CareDx Inc., Natus Medical Incorporated, BioFire Diagnostics LLC, Luminex Corporation, Meridian Bioscience Inc., Advanced Instruments LLC, MP Biomedicals LLC, ELITech Group SAS, Baebies Inc., iHealth Labs Inc, Labsystems Diagnostics Oy, Advacare Pharma LLP, Beckman Coulter Inc., JETA Molecular BV, EpigenTek Group Inc., ZenTech SA, Hangzhou Testsea Biotechnology Co. Ltd. 

The pediatric and neonatal testing kit market report table of contents includes:

1. Executive Summary
2. Onychomycosis Market Characteristics
3. Onychomycosis Market Trends And Strategies
4. Onychomycosis Market – Macro Economic Scenario
5. Global Onychomycosis Market Size and Growth
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31. Global Onychomycosis Market Competitive Benchmarking
32. Global Onychomycosis Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Fat Replacers Market
34. Onychomycosis Market Future Outlook and Potential Analysis
35. Appendix

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