The global Preimplantation Genetic Diagnosis Market is estimated to be valued at US$ 53.5 million in 2020 and is expected to exhibit a CAGR of 6.2% over the forecast period 2020-2027, as highlighted in a new report published by Coherent Market Insights. The market overview explains that PGD involves the screening of embryos for genetic disorders or chromosomal abnormalities prior to implantation through in vitro fertilization (IVF). This procedure helps parents who have a high risk of passing on a genetic disorder to their offspring.
PGD offers numerous advantages to prospective parents, including increased chances of successful pregnancy and healthy offspring. By analyzing embryos prior to implantation, PGD enables medical professionals to select the most viable embryos, reducing the risk of miscarriage and increasing the success rate of IVF procedures. Furthermore, PGD allows parents to avoid the emotional, physical, and financial burden associated with carrying a child affected by a genetic disorder.
One key trend observed in the market is the increasing demand for advanced genetic testing technologies. Advancements in genetic testing, such as next-generation sequencing (NGS), have revolutionized the field of PGD. NGS allows for comprehensive analysis of embryos, enabling the detection of a wide range of genetic abnormalities with high accuracy. This technology has enabled broader utilization of PGD for the detection of single gene disorders, chromosomal abnormalities, and aneuploidies.
For example, companies like Illumina, Inc. and Natera Inc. are leveraging NGS technology to develop comprehensive genetic testing solutions for IVF clinics. Their advanced platforms enable high-throughput sequencing and analysis of embryos, providing real-time results to aid in the selection of healthy embryos for implantation.
PEST Analysis:
Political: The introduction and acceptance of PGD procedures are influenced by political factors such as government regulations and policies regarding assisted reproductive technologies. The legality and availability of PGD vary across countries, with regulations governing the use of this technology varying significantly.
Economic: The growing demand for PGD technology is driven by factors such as increasing disposable income, rising healthcare expenditure, and advancements in healthcare infrastructure in both developed and developing economies. Additionally, insurance coverage for PGD procedures can also impact the market growth.
Social: The increasing awareness and acceptance of genetic testing among the population, coupled with the desire for healthy offspring, are significant social factors driving the growth of the PGD market. Moreover, changing societal norms and cultural shifts towards family planning contribute to the market expansion.
Technological: Technological advancements in genetic testing techniques, such as NGS, have propelled the growth of the PGD market. These advancements allow for more accurate and comprehensive analysis of embryos, enhancing the success rates of IVF procedures and reducing the risk of passing on genetic disorders.
Key Takeaways:
The global Preimplantation Genetic Diagnosis market is expected to witness high growth, exhibiting a CAGR of 6.2% over the forecast period, due to increasing demand for advanced genetic testing. The market is driven by factors such as advancements in genetic testing technologies, rising awareness about genetic disorders, and increasing disposable income.
In terms of regional analysis, North America is expected to dominate the market due to the high prevalence of genetic disorders, well-established healthcare infrastructure, and favorable reimbursement policies. Asia Pacific is projected to be the fastest-growing region, attributed to factors such as increasing healthcare expenditure, a large population base, and growing awareness about PGD technology.
Key players operating in the global Preimplantation Genetic Diagnosis market include Amgen, Quest Diagnostics, Genentech Inc., Vertex, PerkinElmer, Inc., F. Hoffman-La-Roche Ltd, Thermo Fisher Scientific, Inc., Laboratory Corporation of America Holdings, Abbott Laboratories, Illumina, Inc., Natera Inc., CooperGenomics Inc., Reproductive Genetics Institute, Inc., Genea Ltd., Invitae Corporation, and CombiMatrix Corporation. These companies are focusing on partnerships, collaborations, and product development to enhance their market presence and gain a competitive edge.
The Preimplantation Genetic Testing Market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the preimplantation genetic testing market include Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., PerkinElmer, Inc., CooperSurgical, Inc., Beijing Genomics Institute, Abbott Laboratories, Natera, Inc., Genea Limited, Rubicon Genomics, Inc., Oxford Gene Technology.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Preimplantation Genetic Testing Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/preimplantation-genetic-testing-market/download-sampleMarket DynamicsThe global foot-operated control panel for the elevator market is projected to grow at a significant pace during the forecast period.
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