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Inpixon Reports Second Quarter 2019 Financial Results and Provides Corporate Update

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Conference Call To Be Held Today at 4:30 p.m. Eastern Time

PALO ALTO, Calif., Aug. 14, 2019 (GLOBE NEWSWIRE) — Inpixon (Nasdaq: INPX), a leading indoor positioning and data analytics company, today reported financial results for the second quarter ended June 30, 2019 and provided an update on corporate developments.

Second Quarter 2019 Financial Results

Revenues: Revenues for the three months ended June 30, 2019 were approximately $1.5 million compared to approximately $839,000 for the comparable period in the prior year for an increase of approximately $652,000, or approximately 78%. Revenues increased in the second quarter of 2019 over the prior period in 2018 due to an increase in our IPA revenues resulting from an increased focus on the IPA product line.

Gross Profit Margin: The gross profit margin for the three months ended June 30, 2019 was 74% compared to 69% for the three months ended June 30, 2018. This increase in margin is primarily due to the increase in higher margin IPA revenue during these periods.  

Loss From Operations: Loss from operations for the three months ended June 30, 2019 was $4.7 million as compared to $4.5 million for the comparable period in the prior year. This increase of approximately $0.2 million was primarily attributable to the higher gross margin offset by higher operating expenses (like acquisition costs, legal fees, stock-based comp) during the three months ended June 30, 2019.

Second Quarter 2019 Business Highlights and Recent Developments

  • Inpixon announced it has signed a definitive agreement to acquire Jibestream Inc., a premier provider of indoor mapping and location technology. Jibestream offers a full-featured geospatial platform that integrates business data with high-fidelity indoor maps to create smart indoor spaces.
  • Inpixon announced it has completed the acquisition and licensing of a broad portfolio of global positioning system (GPS) assets and intellectual property from GTX Corp (OTCQB: GTXO). The transaction is intended to allow Inpixon to expand the breadth of available solutions it can offer to enterprise and government customers and to offer seamless positioning as one transitions between outdoor and indoor environments.
  • Inpixon announced the launch of IPA Wi-Fi™ and support of IPA Pod™ sensors within the IPA Wi-Fi solution. The announcement marks an important milestone in the company’s plan to capture market share in the fast-growing Wi-Fi analytics and indoor positioning markets.
  • Inpixon announced it is collaborating with the National Anti-Organized Retail Crime Association (NAORCA Worldwide) to combat retail crime by providing a free 90-day trial offer for IPA Video™ to retail members of national or regional organized retail crime (ORC) associations.
  • Inpixon announced it has completed the acquisition of Locality Systems Inc., a technology company based near Vancouver, Canada, specializing in wireless device positioning and radio frequency (RF) augmentation of video surveillance systems.

All results summarized in this press release (including the financial statement tables) should be considered preliminary, are qualified in their entirety by the financial statement tables included in this press release and are subject to change. Please refer to Inpixon’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2019, which will be filed with the U.S. Securities and Exchange Commission on or about August 14, 2019.

Conference Call Information

Management will host a conference call on Wednesday, August 14, 2019. at 4:30 p.m. Eastern Time to review financial results and corporate highlights and to provide an update on developments.

To listen to the conference call, interested parties within the U.S. should dial 1-844-824-3831. International callers should dial +1-412-317-5141. All callers should ask for the Inpixon conference call. The conference call will also be available through a live webcast, which can be accessed at https://services.choruscall.com/links/inpx190814.html or via the Investor section of Inpixon’s website at http://client.irwebkit.com/inpixon/events.

A replay of the call will be available approximately one hour after the end of the call through September 14, 2019. The replay can be accessed via Inpixon’s website or by dialing 1-877-344-7529 (U.S.) or +1-412-317-0088 (international). The replay conference playback code is 10134300.

About Inpixon

Inpixon (Nasdaq: INPX) is a leader in Indoor Positioning Analytics (IPA). The Inpixon IPA platform includes sensors designed to find all accessible cellular, Wi-Fi, and Bluetooth devices anonymously. Paired with a high-performance data analytics platform, this technology delivers visibility, security, and business intelligence on any commercial or government location worldwide. Inpixon’s products and professional services group help customers take advantage of mobile, big data, analytics, and the Internet of Things (IoT) to uncover the untold stories of the indoors. For the latest insight on IPA, follow Inpixon on LinkedIn, @InpixonHQ on Twitter, and visit inpixon.com.

Safe Harbor Statement

All statements in this release that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of the control of Inpixon and its subsidiaries, which could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not limited to, the fluctuation of economic conditions, the performance of management and employees, Inpixon’s ability to obtain financing, competition, general economic conditions and other factors that are detailed in Inpixon’s periodic and current reports available for review at sec.gov. Furthermore, Inpixon operates in a highly competitive and rapidly changing environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. Inpixon disclaims any intention to, and undertakes no obligation to, update or revise forward-looking statements.

Contact
Inpixon Investor Relations:
CORE IR
Scott Arnold, Managing Director
+1 516-222-2560
www.coreir.com 

 

 
INPIXON AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except number of shares and par value data)
 
  As of
  June 30, 2019   December 31, 2018
  (Unaudited) (Audited)
ASSETS      
Current Assets          
Cash and cash equivalents $ 1,651   $ 1,008
Accounts receivable, net   2,384     1,280
Notes and other receivables       4
Inventory   680     568
Prepaid assets and other current assets   444     496
Total Current Assets   5,159     3,356
           
Property and equipment, net   138     202
Operating lease right-of-use asset, net   473    
Software development costs, net   1,641     1,690
Intangible assets, net   5,609     4,509
Goodwill   634    
Loan to related party   10,031     2,204
Other assets   201     217
Total Assets $ 23,886   $ 12,178
           
LIABILITIES AND STOCKHOLDERS’ EQUITY          
Current Liabilities          
Accounts payable $ 1,274   $ 1,129
Accrued liabilities   1,304     1,792
Operating lease obligation   282    
Deferred revenue   195     234
Short-term debt   7,094     4,127
Acquisition liability   460    
Total Current Liabilities   10,609     7,282
           
Long Term Liabilities          
Long-term debt   73     74
Operating lease obligations, noncurrent   220    
Other liabilities   491     19
Acquisition liability   750    
Total Liabilities   12,143     7,375
           
Commitments and Contingencies          
           
Stockholders’ Equity:          
Preferred Stock – $0.001 par value; 5,000,000 shares authorized, consisting of Series 4 Convertible          
Preferred Stock – 10,415 shares authorized; 1 and 1 issued, and 1 and 1 outstanding          
as of June 30, 2019 and December 31, 2018, respectively, and Series 5 Convertible          
Preferred Stock – 12,000 shares authorized; 126 and 0 issued, and 126 and 0 outstanding          
as of June 30, 2019 and December 31, 2018, respectively.      
Common Stock – $0.001 par value; 250,000,000 shares authorized;          
12,791,442 and 1,581,893 issued and 12,791,429 and 1,581,880 outstanding          
as of June 30, 2019 and December 31, 2018, respectively.   13     2
Additional paid-in capital   140,503     123,224
Treasury stock, at cost, 13 shares   (695)     (695)
Accumulated other comprehensive income   57     26
Accumulated deficit (excluding $2,442 reclassified to          
additional paid in capital in quasi-reorganization)   (128,157)     (117,772)
Stockholders’ Equity Attributable to Inpixon   11,721     4,785
           
Non-controlling interest   22     18
           
Total Stockholders’ Equity   11,743     4,803
           
Total Liabilities and Stockholders’ Equity $ 23,886   $ 12,178
 

 

INPIXON AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(In thousands, except per share data)
 
  For the Three Months Ended   For the Six Months Ended
  June 30,   June 30,
  2019   2018   2019   2018
               
  (Unaudited)   (Unaudited)
Revenues   1,491     839     2,854     1,687
Cost of Revenues   391     256     727     520
                       
Gross Profit   1,100     583     2,127     1,167
                       
Operating Expenses                      
Research and development   796     253     1,752     523
Sales and marketing   681     479     1,314     811
General and administrative   3,018     3,530     6,368     6,473
Acquisition related costs   510         647     16
Amortization of intangibles   820     804     1,633     1,607
Total Operating Expenses   5,825     5,066     11,714     9,430
                       
Loss from Operations   (4,725)     (4,483)     (9,587)     (8,263)
                       
Other Income (Expense)                      
Interest expense   (509)     (80)     (865)     (902)
Loss on exchange of debt for equity   (160)         (160)    
Change in fair value of derivative liability               48
Gain on the sale of Sysorex Arabia               23
Other income/(expense)   163     (9)     232     (12)
Total Other Income (Expense)   (506)     (89)     (793)     (843)
                       
Net Loss from Continuing Operations   (5,231)     (4,572)     (10,380)     (9,106)
                       
Loss from Discontinued Operations, Net of Tax       (1,283)         (2,993)
                       
Net Loss   (5,231)     (5,855)     (10,380)     (12,099)
                       
Net Income Attributable to Non-controlling Interest   9     3     4     2
                       
Net Loss Attributable to Stockholders of Inpixon $ (5,240)   $ (5,858)   $ (10,384)   $ (12,101)
                       
Deemed dividend to preferred stockholders       (9,727)         (11,235)
Deemed dividend for triggering of warrant down round feature           (1,250)    
Net Loss Attributable to Common Stockholders $ (5,240)   $ (15,585)   $ (11,634)   $ (23,336)
                       
Net Loss Per Basic and Diluted Common Share                      
Loss from continuing operations $ (0.56)   $ (39.49)   $ (1.69)   $ (86.85)
Loss from discontinued operations       (3.54)         (12.78)
Net Loss Per Share – Basic and Diluted $ (0.57)   $ (43.05)   $ (1.69)   $ (99.64)
                       
Weighted Average Shares Outstanding                      
Basic and Diluted   9,257,898     362,060     6,889,873     234,198
                       
                       
Comprehensive Loss                      
Net Loss $ (5,231)   $ (5,855)     (10,380)     (12,099)
Unrealized foreign exchange gain/(loss) from cumulative translation adjustments   39     2     31     (5)
Comprehensive Loss $ (5,192)   $ (5,853)   $ (10,349)   $ (12,104)
                       

 

INPIXON AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
   
  For the Six Months Ended
  June 30,
  2019   2018
       
  (Unaudited)
Cash Flows (Used In) from Operating Activities          
Net loss $ (10,380)   $ (12,099)
Adjustment to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization   527     1,040
Amortization of intangible assets   1,633     2,645
Amortization of right of use asset   164    
Stock based compensation   1,748     857
Amortization of technology   33     33
Loss on exchange of debt for equity   160    
Change in fair value of derivative liability       (48)
Amortization of debt discount   798     417
Provision for doubtful accounts   105     221
Gain on earnout       (934)
Gain on the settlement of liabilities       (262)
Gain on the sale of Sysorex Arabia       (23)
Other   26     2
           
Changes in operating assets and liabilities:          
Accounts receivable and other receivables   (1,198)     742
Inventory   (109)     (62)
Other current assets   55     78
Prepaid licenses and maintenance contracts       (12)
Other assets   (182)     (41)
Accounts payable   132     (6,934)
Accrued liabilities   53     (3,561)
Deferred revenue   (67)     52
Other liabilities   (66)     (40)
Total Adjustments   3,812     (5,830)
Net Cash Used in Operating Activities   (6,568)     (17,929)
           
Cash Flows Used in Investing Activities          
Purchase of property and equipment   (44)     (39)
Investment in capitalized software   (465)     (364)
Investment in Athentek       (175)
Investment in GTX   (250)    
Investment in Locality   (204)    
Net Cash Flows Used in Investing Activities   (963)     (578)
           
Cash Flows From (Used in) Financing Activities          
Net repayments to bank facility   (23)     (1,141)
Net proceeds from issuance of common stock, preferred stock and warrants   10,859     27,961
Repayment of notes payable   (1)     (113)
Advances to related party   (8,945)    
Repayments from related party   1,683    
Net proceeds from promissory notes   4,500    
Net Cash Provided By Financing Activities   8,073     26,707
           
Effect of Foreign Exchange Rate on Changes on Cash   31     (5)
           
Net Increase in Cash, Cash Equivalents and Restricted Cash   573     8,195
           
Cash, Cash Equivalents and Restricted Cash – Beginning of period   1,218     351
           
Cash, Cash Equivalents and Restricted Cash – End of period $ 1,791   $ 8,546
           

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IT Industry

Next-Generation Sequencing (NGS) Market 2019 Global Insights Type of Sequencing, Product Type, End User, Application, Competitive Landscape, Key Strategies & Growth Prospect: Orbis Research

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Orbisresearch.com has published “Next-generation Sequencing (NGS)-Growth, Trends, and Forecast (2019-2024)” research study to its database. Genetic Screening is the Segment Expected to Grow Fastest During the Forecast Period

Dallas, Texas, Aug. 24, 2019 (GLOBE NEWSWIRE) — As per the scope of this report, NGS is a technology in which millions of DNA strands can be sequenced through massive parallelization; this technique is also known as high throughput sequencing. The low cost, high accuracy and speed, and precise results even from low sample input are the main advantages NGS offers over Sanger’s sequencing method. NGS is, therefore, being used to execute various applications, such as biomarker discovery, oncology studies, personalized medicine, and agricultural and animal research, among others. Thus, the NGS market has transformed the genomics and molecular diagnostics landscape.

The major factors, such as increasing applications of NGS, speed, cost, and accuracy, efficient replacement for traditional technologies, and drug discovery applications demanding NGS technology are expected to drive the growth of the overall market.

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The rapid speed, cost, and accuracy of the NGS technology help in the growth of the market. This is attained with the help of modern DNA sequencing technology, which has contributed to the sequencing of complete DNA sequences of numerous types and species of life. It is also found that NGS is significantly cheaper, quicker, and needs significantly lesser DNA, which helps in the overall growth of the market.

The NGS has the potential to accelerate the early detection of disorders and the identification of pharmacogenetics markers to customize its treatments.

There are various technological advancements in the field of medicine that are growing at a rapid pace and has led to the development of personalized medicine. There are a huge number of applications of next-generation sequencing in personalized medicine. Thus, the development of personalized medicine has opened many avenues for the application of NGS, which could accelerate the market growth.

The current market is also facing challenges, owing to the difficulty in management of large data and complications, associated with Big Data management. In addition, some of the ethical issues associated with whole-genome sequencing, coupled with the lack of awareness among people, are pulling back the growth of the market.

Key Market Trends

Genetic Screening is the Segment Under Application that is Expected to Grow Fastest During the Forecast Period

In genetic screening, the NGS is highly useful in identifying monogenic diseases with locus heterogeneity, such as blindness, deafness, movement disorders, mitochondrial disease, hereditary cancers, etc. Therefore, NGS has a large number of varied applications through genetic screening in multiple disorders, but their affordability and availability in high-income and low-income countries may differ a lot. The entire genomes are being mapped at affordable costs. Thus, steady growth is expected in the forecast period.

The NGS is also emerging as a powerful promising pathogen-detection method for infectious-disease diagnostics. It helps in the identification and genomic characterization of bacteria, fungi, parasites, and viruses, without the need for prior knowledge of a specific pathogen, directly from clinical specimens. As the diseases caused by infections are increasing in the less-developed countries, the NGS-powered diagnosis of these infections has become the most promising method to detect these infectious diseases. The NGS also has applications in personalized medicine that has started becoming a reality and has been under application by various biotechnology companies.

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Asia-Pacific is the Fastest-growing Market and is Expected to Follow the Same Trend over the Forecast Period

The market studied is expected to grow at the fastest pace in Asia-Pacific. The rising focus of the major market players is on delivering advanced, efficient NGS technology to the developing countries, in order to cater to the need for genomic medicines and whole genome sequencing for personalized medicine. In addition, the increasing adoption of NGS technology by the non-government and government bodies, along with increased investment of the private players, is expected to drive the Asian market.

Competitive Landscape
There are major biotech industries that are making large investments on evolving preventive vaccines and therapeutic vaccines that can stop or cure diseases, varying from viruses to cancers. The biotech industry, thus, uses the NGS to develop advanced diagnostic kits, in order to screen for pathological conditions and infectious diseases.

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Major points from Table of Contents:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
 Continued…

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Contact Us:
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IT Industry

Cosmeceuticals Market to grow at 8.81% CAGR to hit $85 billion by 2024 – Global Insights on Emerging Trends, Product Type (Skin Care, Hair Care & Lip Care), Distribution Channel, Key Strategies & Growth Prospect: Orbis Research

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Orbisresearch.com has published “Cosmeceuticals Market-Growth, Trends and Forecasts (2019-2024)” research study to its database. Geographically, Asia-Pacific Dominates the Global Cosmeceuticals Market

Dallas, Texas, Aug. 24, 2019 (GLOBE NEWSWIRE) — Huge growth in necessary drugs to lessen the several skin problems and improve the appearance has increasingly supported the cosmeceuticals market growth since the past few years. Likewise, anti-ectoparasites and shampoos are the key cosmeceuticals products which are helping to increase consumer interest majorly in Europe and North America regions. In addition, rising demand for animal-friendly products is expected to contribute to the growth of the cosmeceuticals market over the forecast period.

The global cosmeceuticals market offers a wide range of products broadly categorised under skin care, hair care, lip care, and oral care. Also, the market covers the products available across distribution channels Supermarket/Hypermarkets, Convenience stores, online stores, speciality stores, others. Moreover, the study provides an analysis of the cosmeceuticals market in the emerging and established markets across the world, including North America, Europe, Asia-Pacific, South America, Middle East & Africa.

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The global cosmeceuticals market is forecasted to reach USD 85 billion by 2024 growing at a CAGR of 8.81% during the forecast period (2019-2024).

– Countries, such as the United States, Canada, United Kingdom, Germany, and other European countries held a prominent share in the global cosmeceuticals market. China, India, and Vietnam present considerable growth opportunities for the market players, primarily due to the growing millennial population.
– Furthermore, raising awareness regarding cosmeceutical and cosmetics products, such as anti-aging, sun care, and hair care products, is expected to drive the growth potential in the near future. The introduction of new products with bio-active ingredients play a crucial role in driving the demand for cosmeceutical products across the world, especially in the Asia-Pacific region.

Key Market Trends

Growing Ageing Population
Consumers, especially the ageing population, are increasingly looking for methods and products to maintain and improve their appearance to look youthful and beautiful, more so with the rising awareness about anti-ageing products. The middle-aged people are increasingly witnessing ageing anxiety, due to the high prevalence of extrinsic signs of ageing. Anti-ageing skin products are known as cosmeceuticals, as they overlap the distinction between cosmetics and pharmaceuticals. Over the past two decades, declining fertility and mortality rate has resulted in a sustained rise in ageing population across the region, especially in China and Japan. Strong desire among men and women to retain youthful appearances has groomed and nurtured the cosmetic industry across the region.

Browse the full report@https://www.orbisresearch.com/reports/index/cosmeceutical-market-growth-trends-and-forecasts-2019-2024

Competitive Landscape
The most active companies in the market include key players, such as Procter & Gamble, Unilever, L’Oréal SA, Shiseido Co. Ltd, and The Estée Lauder Companies Inc. L’Oréal SA is one of the most active companies, with numerous brands offering a broad range of cosmeceuticals, across the world. The company has spent considerably on improving quality, product innovation in terms of ingredients, functionality, and packaging. Moreover, these active companies have adopted strategic acquisition as their key strategy, to increase their geographical presence and customer base.

Asia-Pacific Dominates the Global Cosmeceuticals Market
Though the term ‘cosmeceuticals’ started gaining momentum in China recently, it has now become one of the most preferred product categories in the country. Busier and stressful lifestyles of consumers in the country, as well as worsening environmental conditions, created more concern around skin conditions amid consumers who seek products for skin rejuvenation. This has led to an increase in sales of cosmeceuticals. Moreover, the population of Japan is among the most prolific consumers of cosmetics, placing it among the top five national markets for personal care products. From the viewpoint of not only size but also the trends and market demand, Japan can be regarded as a gateway to other Asian markets. Success in the Japanese market can raise product/brand profile and visibility, particularly in other Asian markets.

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Major points from Table of Contents:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
 Continued…

About Us:
Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.

Contact Us:
Hector Costello
Senior Manager – Client Engagements
4144N Central Expressway,
Suite 600, Dallas,
Texas – 75204, U.S.A.
Phone No.: +1 (214) 884-6817; +91 895 659 5155
Email ID: enquiry@orbisresearch.com   
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IT Industry

Carrier Screening Market Global Insights on Test Type, Disease Type, Restraints, Competitive Landscape and 2019 Top Trends: Orbis Research

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Orbisresearch.com has published “Carrier Screening Market-Growth, Trends, and Forecast (2019-2024)” research study to its database.

Dallas, Texas, Aug. 24, 2019 (GLOBE NEWSWIRE) — The major factors for the growth of the carrier screening market include the increasing emphasis on early disease detection and prevention, rising demand for personalized medicine, and increasing application of screening tests in genetic disorders, which is expected to experience a boost during the forecast period.

The earlier a disease is diagnosed, the more likely it can be cured or successfully managed. Treating the disease early could also make the disease easier to live with. Early disease detection helps people plan ahead, while they are still able to make important decisions regarding their health and support needs and on financial and legal matters. Genetic diseases, such as cystic fibrosis, sickle cell anemia, and Tay-Sachs disease, are inherited disorders. Carrier testing for such diseases can provide information about a couple’s risk of having a child with a genetic condition. Identification of the risk, prior to the onset of symptoms, is called predictive/presymptomatic testing. Many genetic disorders can be detected early during pregnancy. So, the consumer demand for safe and effective carrier tests is fueling the growth of this market. In addition, the adoption of carrier tests into regular clinical care offers a commercial advantage to the market. According to many studies, early detection of diseases can prevent them completely or at least decrease the complications of the diseases. Healthcare organizations in several countries are funding newborn screening to predict diseases, like cancers, which may occur later in adulthood.

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Scope of the Report

As per the scope of the report, carrier screening is a type of genetic test to identify the autosomal recessive genetic disorders, before or during a pregnancy stage. Further, it helps in identifying a child with a genetic disorder. The market is segmented on the basis of screening test type (molecular screening test/biochemical screening test), disease type (cystic fibrosis, Tay-Sachs disease, sickle cell disease, gaucher disease, spinal muscular atrophy, and other autosomal recessive genetic disorders). In developed countries, such as the United States, Germany, and France, among others, the demand for screening tests to detect the risk of genetic diseases is driving the market’s growth.

Browse the full report@https://www.orbisresearch.com/reports/index/carrier-screening-market-growth-trends-and-forecast-2019-2024

Key Market Trends

Molecular Screening Test Segment by Test Type is Expected to Register Fastest Growth Rate during the Forecast Period

A molecular screening test identifies DNA mutations, which are variations in the genetic code that lead to decreased production of enzymes. It focuses on the mutations seen in one ethnic group. It involves a step-wise process of testing for common alleles, and if required, extensive gene analysis. Sequencing is a method of molecular screening, which is accomplished by reading across the DNA code of a specific gene to know if there are any known mutations. If the test results are negative, it reduces the chances that the individual is a carrier, however, it does not eliminate the chance of having a carrier gene, since it is possible that the mutation might not have been discovered yet through the current technology.

Some of the prominent recessive disorders for which molecular testing is beneficial are Canavan disease, Cystic fibrosis, GM1 gangliosidosis, spinal muscular atrophy, etc. With advancements in genetic analysis tools, like assays based on next-generation sequencing and microarray technologies, molecular diagnostics are revolutionizing the practice of medicine, by improving the prenatal and reproductive care, enabling earlier disease detection, and advancing the treatment for heritable diseases. There is an expansion of molecular testing, as it has the potential to increase testing accuracies through technical benefits for many targeted disorders that may not be suggested to biochemical testing.

North America accounted for the Largest Share in the Global Market

North America is found to hold a major share of the carrier screening market and is expected to show a similar trend over the forecast period, without significant fluctuations. Genetic disease is the leading cause of infant deaths in the United States, accounting for approximately 20% of the total annual infant mortality. Many advances in genomic medicine and technological platforms have made possible low-cost, pan?ethnic, expanded carrier screening that enables obstetric care providers to offer screening for over 100 recessive genetic diseases. However, the rapid integration of this genomic medicine into the routine obstetric practice has raised some concerns about the practical implementation of carrier testing. According to the Cystic Fibrosis Foundation, more than 30,000 people suffer from cystic fibrosis in the United States, and approximately 1,000 new cases of cystic fibrosis are diagnosed each year in the country. Thus, as the prevalence of genetic diseases is increasing every year, the usage of carrier screening is also expected to increase during the forecast period.

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Competitive Landscape

The presence of major market players, such as Abbott, F. Hoffmann-La Roche AG, Cepheid (Danaher Corporation), Illumina Inc., and Thermo Fisher Scientific Inc, in turn, is increasing the overall competitive rivalry of the market. Most of the market players are expanding their technologies through acquisitions and partnerships. For instance, in January 2017, Philips and Illumina collaborated to offer the integrated genomics solutions for oncology.

Major points from Table of Contents:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
 Continued…

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