April 12, 2024
Preeclampsia Diagnostics Market

Preeclampsia Diagnostics Market is Estimated to Witness High Growth Owing to Rising Prevalence of Preeclampsia

It is a pregnancy complication characterized by high blood pressure and signs of damage to another organ system, most often the liver and kidneys. Preeclampsia diagnostics help identify the condition in early stages so that timely treatment can prevent life-threatening consequences for both the mother and baby. The global preeclampsia diagnostics market is driven by the rising prevalence of high blood pressure disorders among pregnant women worldwide.

The global preeclampsia diagnostics market is estimated to be valued at US$ 1828.84 Mn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the preeclampsia diagnostics are The Dow Chemical Company, BASF SE, Covestro A.G., Huntsman Corp., Eastman Chemical Co., Mitsui Chemicals Inc, Recticel S.A., RTP Company Inc., Lubrizol Corp., Rampf Holding GmbH & Co. KG. The key players are focusing on new product launches, expansions, and mergers & acquisitions to ramp up their revenue growth.

The key opportunities in the global preeclampsia diagnostics market include rising healthcare expenditure by governments worldwide and increasing demand for point-of-care diagnostic devices. Moreover, the increasing adoption of advanced proteomics techniques for earlier detection is expected to create new avenues during the forecast period.

Globally, North America dominates the preeclampsia diagnostics market followed by Europe and Asia Pacific. However, Asia Pacific is expected to witness the highest CAGR during the forecast period due to growing medical tourism, rising healthcare spending, and increasing acceptance of advanced diagnostic techniques.

Market drivers

The rising prevalence of Preeclampsia Diagnostics Market Size  among pregnant women is one of the major drivers of the global preeclampsia diagnostics market. As per the World Health Organization (WHO), preeclampsia/eclampsia complications account for nearly 76,000 maternal and 500,000 fetal/neonatal deaths globally every year. Moreover, the increasing healthcare expenditure worldwide and favourable government initiatives to spread awareness are further fueling the market growth.

PEST Analysis

Political: Diagnostics regulations are well formed, however, with geopolitical instabilities, timely compliance may get challenging in few countries. Regulations help address issues but may delay product approvals.

Economic: Growth indications are strong across emerging countries.However, inflationary pressure,supply chain disruptions, and higher costs may restrain growth to some extent. Higher engagement for women’s health can boost market.

Social: Increased awareness about adverse effects of preeclampsia on both mother and fetus have increased demand for accurate diagnostics solutions. Social support helps address the issue.

Technological: Advent of biomarkers help detect preeclampsia at early stage.Machine learning based solutions enable predictive analytics.Further R&D focuses on point of care devices for timely diagnosis.

Regions where market in terms of value is concentrated

North America dominates the preeclampsia diagnostics market currently due to established healthcare infrastructure, availability of advanced technologies, and higher adoption. The Asia Pacific region is expected to witness fastest growth due to rising healthcare investments, growing women population, and increasing awareness about women health issues. Increased focus on preventive care and availability of low-cost diagnostics are fueling market growth in developing nations.

Fastest growing region for the market

The Asia Pacific region is projected to be the fastest growing market during the forecast period. This growth can be attributed to factors like rising healthcare awareness, growing medical tourism, increasing women population, and improving access to diagnostic services across major countries like China and India. In addition, rising disposable incomes, growing penetration of health insurances, and expanding healthcare infrastructure will support preeclampsia diagnosis adoption in the Asia Pacific region.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it