High Pregnancy Chances with the PGT Procedures Fuelling Demand for Preimplantation Genetic Testing Market, Finds Fact.MR
The global preimplantation genetic testing market is projected to gain traction for analysing minor disabilities along with other serious ailments for instance cancer. Researchers are engaged on utilizing innovative techniques to eliminate the probability of embryo destruction while PGT procedures. Certain test type includes genetic screening and genetic diagnosis.
Out of these, genetic screening will be the majorly preferred testing type in the preimplantation genetic testing market in contrast to genetic diagnosis. According to Fact.MR, the segment is estimated to surpass US$ 300 million revenue by the end of 2022.
It further claims, “The rising knowledge of genetics and surging demand for genetically testing, as a result of AI and big data technology is a favourable driver for expansion of the preimplantation genetic testing market. Furthermore, ensuing innovations in genetic diagnosis for instance PGT monogenic disease diagnosis (PGT-M), encourages the industrial expansion.”
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On account of these trends, the preimplantation genetic testing market is slated to experience robust growth. Fact.MR states that the market is expected to record an impressive CAGR of 8.4% amid the assessment period (2017-2022).
Adoption of Human Leukocyte Antigen (HLA) typing Results in Increasing Acceptance
Embryo HLA typing for stem cell therapy is anticipated to discover the largest application in the preimplantation genetic testing market. High accomplishment rate of hematopoietic reconstitution in offspring owing to stem cells transplantation gained from the HLA-matched offspring will be driving the segment growth. Accounting for over 2/5th of the revenue share, the segment is likely to account for over US$ 200 Mn revenue towards 2022 end.
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North America to Remain Lucrative Throughout the Forecast Period
North America will come forth as the leading market for preimplantation genetic testing. The region is poised to exceed US$ 200 Mn by 2022 end. Rising adoption of innovative technologies and growing awareness regarding preimplantation genetic testing to sidestep several birth defects amid babies are a few of the aspects driving the growth in the region.
High Cost Associated with PGD Technologies is Restraining Growth of Global Preimplantation Genetic Testing Market
“A key factor that constraints the preimplantation genetic testing market from gaining a higher growth pace is high costs incurred in the PGD technologies”, states Fact.MR. Moreover, ethical concerns and strict government regulations is anticipated to hamper the growth of the market. However, the preimplantation genetic testing is foreseeing a surge in demand owing to the high probabilities of pregnancy with these procedure in contrast to the other treatments.
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