04 January 2019
The global board games market is expected to show healthy growth in the coming years. Growing popularity of these games among millennials is estimated to bode well for the market. Cafes and restaurants often offer unique dining experiences with a library of board games, puzzles, and playing cards for customers.
Millennials are increasingly inclining towards games that include multiplayers, which is anticipated to boost the sales of the product in the coming years. In addition, rising number of crowdfunding platforms for designers and manufacturers can propel the market. Board games play an important role in improving learning abilities among kids. Adults can also take their advantage to create learning environment. Effective problem-solving ability and critical thinking in team-oriented games can help individuals to improve relationships and communication skills. Increasing purchasing power of middle-class population is also projected to boost the sales of the product.
On the other hand, instability of raw materials, rising labor costs, and availability of alternatives to the product are likely to keep the market from realizing its utmost potential. Digitization of board games can also inhibit the growth of the market. High adoption of smartphones all over the world is leading to development of mobile applications based on board games. Several types of games such as dice, cards, boards, and playing tokens were traditionally played in physical format. However, with advent of their digitized versions for smartphones, tablets, computers, and video games, a shift has been observed.
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However, presence of strict regulatory framework regarding approval of medical devices can hinder the growth of the market. Lengthy approval procedures delay innovation and development of devices. In addition, lack of skilled professionals is also expected to restrain the growth of the non-invasive prenatal testing market.
Various techniques involved in NIPT tests include fetal cells in maternal blood tests, cell-free DNA in maternal plasma tests, biochemical screening tests, and ultrasound detection. Cell-free DNA in maternal plasma tests are anticipated to witness an upswing in their demand in the coming years. This can be attributed to growing requirement for cf-DNA-based techniques in NIPT testing. In addition, increasing government efforts for providing prenatal services are likely to stir up the demand for these tests.
North America is considered as one of the attractive markets in the global arena. High government spending for research and development (R&D) activities and development of whole genome sequencing as a result of availability of technologically advanced and presence of established healthcare research framework have been providing an upthrust to the regional market.
On the other hand, Asia Pacific is poised to exhibit noteworthy growth in the coming years. Rising average maternal age, improving healthcare facilities, rising disposable income, and high prevalence of chromosomal abnormalities are some of the primary growth stimulants for the regional market. Advancing maternal age and high-risk pregnancies in China are projected to create lucrative growth opportunities for the regional market in near future.
Countries such as Japan and China are sights of high growth rates in the region. Additionally, improvement in healthcare facilities along with growing exposure for clinical research in India and Australia are also projected to support the growth of the market in APAC in the coming years.
