Spectacle Lens Market to Reach USD 74,230.8 million by 2034, Driven by Rising Vision Care Awareness with 4.0% of CAGR

The spectacle lens market is poised for substantial growth, with an estimated valuation of USD 50,126.1 million in 2024. As eye care becomes a top priority worldwide, the market is expected to expand at a steady compound annual growth rate (CAGR) of 4.0%, reaching a total size of USD 74,230.8 million by 2034.

Spectacle lenses are increasingly recognized as essential tools for addressing the growing burden of vision impairments. The rise in screen time, aging populations, and heightened awareness of eye health are key factors driving the demand for high-quality spectacle lenses. This growth trajectory underscores the importance of vision care and the pivotal role of spectacle lenses in enhancing visual health and quality of life.

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The growing awareness of preterm birth issues and the importance of early detection and intervention is a key driver of the market’s growth. The use of preterm birth diagnostic test kits is anticipated to soar as healthcare systems throughout the globe place a greater priority on the health of mothers and newborns, filling vital gaps in prenatal care.

The favorable forecast for the global preterm birth diagnostic test kit market highlights how crucial it is for industry stakeholders to continuously innovate, educate themselves, and work together. Manufacturers, healthcare providers, and legislators have significant opportunity to improve prenatal care and lower the rate of premature deliveries as the market develops.

Key Findings Presented in the Report on the Preterm Birth Diagnostic Test Kits Market:

According to the data, the number of births in 2017 was roughly 115.4 million, of which 12.8 million or 11.1% were preterm. Preterm birth problems are the biggest cause of death for children under the age of five, according to the World Health Organization. In 2015, they were directly responsible for around one million deaths. Of these, cost-effective measures can avoid three-quarters of these deaths. Across different regions, preterm birth diagnostic test kit adoption rates varied from 2% to 15%. A substantial chunk of the preterm birth test kit market has gone untapped, leaving it open for manufacturers of preterm diagnostic test kits. This is because the majority of the current patient pool is ignorant of the cost-saving advantages of preterm birth diagnostic test kits.

Analysis of the Preterm Birth Diagnostic Test Kits Market:

The most common sample used for preterm labor and premature membrane rupture diagnosis in preterm birth diagnostic test kits is blood. The most popular and widely recognized preterm birth diagnostic test kits among end users are those that employ blood samples for preterm birth diagnosis. On the other hand, preterm birth diagnostic test kits using vaginal discharge sample type are becoming more and more common.

Patients experiencing symptoms of preterm birth are primarily referred to hospitals, outpatient clinics, and diagnostic laboratories that use preterm birth diagnostic tests. Because they are the principal healthcare institution for preterm cases, hospitals are expected to account for the majority of the revenue share under the end users segment for the preterm birth diagnostic test kits market in 2017.

Preterm Birth Diagnostic Test Kits Market – Competitive Landscape:

The key players of this market are adopting strategies such as product launch, acquisition, partnership and collaborations to gain expand their market presence and open up new streams of revenue generation.

• In June 2021, Medix Biochemica announced the launch of a new molecular diagnostic reagents division named “MedixMDx” to offer extensive range of products and services for their customers.
• In September 2020, QIAGEN announced the acquisition of NeuMoDx Molecular Inc., which helped the company to complete their product portfolio of PCR technology based automated molecular testing solutions.
• In May 2021, Sera Prognostics announced a strategic commercial partnership with Anthem Inc., to make their “PreTRM® “tests available to all the customers of Anthem in the U.S.

Since the awareness of preterm birth diagnostic test kits is increasing, the demand for these kits will rise in the next few years. This creates many lucrative opportunities for the key players of this industry.

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Key Companies Profiled:

• Qiagen
• Medix Biochemica
• Hologic Inc.
• Sera Prognostics
• IQ Products
• Creative Diagnostics
• Nanjing Liming Biological Preparations Co., Ltd.
• Clinical Innovations, LLC
• Bioserv Diagnostic GmbH

Preterm Birth Diagnostic Test Kits Market, By Category:

Product:

• ffN Test
• PAMG-1 Test
• IGFBP-1 Test

Sample:

• Blood
• Urine
• Vaginal Discharge

End User:

• Hospitals
• Diagnostic Laboratories
• Outpatient Clinics
• Research Centers

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Middle-East & Africa
• APECJ
• China
• Japan

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