BANGALORE, India, Jan. 10, 2024 /PRNewswire/ -- Preimplantation Genetic Testing - Global Market Insights and Sales Trends 2024 is Segmented by Type (Preimplantation Genetic Screening, Preimplantation Genetic Diagnosis), by Application (Air Splicing Bus Duct (BMC), Intensive Insulation Plug Bus Duct (CMC), Higher Strength Enclosed Bus Duct (CFW)): Global Opportunity Analysis and Industry Forecast, 2023-2029. It is Published in Valuates Reports Under the Category of Medical Devices & Equipment.
The Global Preimplantation Genetic Testing Market Size is expected to reach USD 528.9 Million by 2029, growing at a CAGR of 5.8% from 2023 to 2029.
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Major Factors driving the growth of Preimplantation Genetic Testing Market
There is a greater need for PGT as a result of expanding acceptance of in vitro fertilization (IVF), an increase in the frequency of reproductive issues brought on by postponed motherhood, and more knowledge of genetic abnormalities. PGT is more appealing and accessible thanks to technological developments in genetic screening methods, growing healthcare infrastructure, and integrated personalized treatment.
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TRENDS INFLUENCING THE GROWTH OF PREIMPLANTATION GENETIC TESTING MARKET
Global genetic problem prevalence is a major factor propelling the PGT market's expansion. The demand for PGT as a preventive strategy has increased as couples want to ensure healthy pregnancies and are increasingly aware of their genetic risks. PGT offers a way to recognise inherited illnesses and prevent them from being passed onto future generations. The issues associated with fertility are partly caused by the tendency towards delayed motherhood and the ensuing rise in maternal age. The chance of chromosomal abnormalities in embryos increased with mother age. PGT becomes an essential tool for older couples and those experiencing infertility since it allows embryos with normal genetic profiles to be chosen for implantation.
Technological developments in genetic screening have improved PGT's accuracy and efficiency considerably. Examples of these developments include next-generation sequencing and microarray analysis. The industry is growing as a result of these technical advancements since they offer more thorough genetic information and increase confidence in the selection of viable embryos. The need for PGT is driven by the growing acceptance and accessibility of in vitro fertilization (IVF) treatments on a global scale. The market is further driven ahead by the addition of PGT as a supplementary technique to safeguard the health of embryos, as IVF becomes a more common option for infertile couples.
Growth in the market is facilitated by advancements in PGT alternatives and healthcare infrastructure, particularly in emerging economies. A favorable atmosphere for market expansion is created by educating potential parents about the advantages of PGT through educational programmes and counseling services. One significant motivator is the incorporation of genetic counseling and personalized medication within the PGT procedure. The market demand for PGT is further stimulated by enhancing its overall attractiveness and efficacy through the provision of complete counseling services and customisation of genetic testing to unique patient profiles.
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PREIMPLANTATION GENETIC TESTING MARKET SHARE
In terms of market share, North America led the way in preimplantation genetic testing worldwide in 2017. Europe came in second. The significant adoption of genomic techniques, the growing number of IVF procedures (with declining fertility rates), and the continuous trend of replacing conventional genomic technologies with cutting-edge and novel genetic techniques (like FISH and NGS) are the main causes of the large share in the North American region.
Because of the increased attention that companies are paying to emerging markets and the advancements made in the healthcare infrastructure in these areas, the Asia-Pacific region is anticipated to grow at the fastest rate throughout the projection period.
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Key Players:
- Illumina Inc
- Thermo Fisher
- Agilent Technologies
- PerkinElmer Inc
- CooperSurgical
- Abbott Laboratories
- Natera
- Rubicon Genomics
- Oxford Gene Technology
- Yikon Genomics
- Scigene
- Beijing Genomics Institute
- Good Start Genetics
- Invicta Genetics
- Genea Limited
- Progenesis
- CombiMatrix
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