Preterm birth and premature rupture of membrane (PROM) continue to be a major cause of perinatal morbidity and mortality worldwide. PROM testing helps in early detection of premature rupture of membranes which assists physicians in timely management and intervention. Advances in rapid point-of-care testing kits have enabled quick and easy testing during prenatal visits. Such tests help determine risk factors, monitor cervical status and detect biochemical markers that may indicate preterm birth.

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, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The opportunity in early detection and management of preterm birth and PROM is driving the growth of this market. Early diagnosis helps physicians and healthcare professionals implement intervention strategies such as administration of corticosteroids to improve fetal lung maturity, initiate antibiotics treatment and tocolytic therapy which can delay preterm delivery and improve neonatal outcomes. Rapid point-of-care tests allow early and timely treatment which results in minimizing neonatal risks, decreased healthcare costs associated with prematurity complications and improved quality of life. Makers are focused on developing advanced testing solutions to enable testing during early stages of pregnancy and regular prenatal visits for improving diagnostics and management of high-risk pregnancies.

Porter's Analysis

Threat of new entrants: The Global Preterm Birth And Prom Testing Market Size requires high R&D investments and stringent regulatory approvals which pose significant entry barriers.

Bargaining power of buyers: The bargaining power of buyers is moderate as the test products are medical diagnostics mandated for pregnant women.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to the specialized nature of input materials and technologies required.

Threat of new substitutes: The threat of substitutes is low as there are limited alternatives available for preterm birth and prom testing.

Competitive rivalry: The market exhibits high competitive rivalry due to presence of major players and strong demand for innovative test platforms.

SWOT Analysis

Strength: The presence of high unmet medical need and increasing awareness. Innovation in non-invasive test technologies.

Weakness: High R&D costs and regulatory requirements. Reimbursement issues in some regions.

Opportunity: Growth prospects in developing countries. New product approvals and launches expanding application areas.

Threats: Stringent regulations. Threat from alternative screening methods and tests. Price pressures from payers.

Get More Insights On This Topic: https://www.tumblr.com/akshay658/739741085090332672/preterm-birth-and-prom-testing-market-is-estimated?source=share