Preimplantation Genetic Testing Demand to Grow by 9% CAGR Annually, through 2031
Preimplantation Genetic Testing Application in Embryo HLA Typing for Stem Cell Therapy will Increase, Surpassing US$ 70 Mn by 2031
The study of the preimplantation genetic testing market offers compelling insights into key factors affecting market growth trajectory. The survey report discloses insights into preimplantation genetic testing demand outlook in terms of test type, end user, application, and technology. The report also highlights the scope of preimplantation genetic testing over the forecast period
Fact.MR – A Market Research and Competitive Intelligence Provider: As per a survey conducted by Fact.MR, the global preimplantation genetic testing market reached a valuation of US$ 550 million in 2020, expanding at a CAGR of 8% between 2016 and 2020.
Owing to the increase in incidence of chronic diseases and disabilities across the globe, the market for preimplantation genetic testing is estimated to surge at a robust CAGR of 9% over the forecast period 2021 to 2031.
Preimplantation genetic testing is gaining traction on the back of rising prevalence of genetic disorders among children and disabilities among the aged population. According to a study by Genetic Alliance, in the U.K., out of every 25 children, 1 child is affected by a genetic disorder and nearly 30,000 babies are diagnosed with the disease every year. Besides this, over 500 million adults and children are living with a genetic disorder in the country.
As preimplantation genetic testing is proven as an effective solution for diagnostics of genetic disorders, it is increasingly being used by healthcare providers and institutions for identifying defects present in embryos before implantation.
Thus, the need for effective diagnostic solutions to curb the rising prevalence of genetic disorders in newborns will spur the demand for preimplantation genetic testing over the coming years.
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Embryo Human leukocyte antigen (HLA) typing for stem cell therapy is anticipated to dominate the market, accounting for over 40% of the revenue share. In response to the increasing application of preimplantation genetic testing in the procedure, the segment is projected to surpass a valuation of US$ 70 million by the end of 2031.
“Several healthcare institutes and research centers are increasingly investing in research & development (R&D) to find novel techniques to minimize the risks associated with the preimplantation genetic testing. Their efforts are expected to bode well for the market, creating opportunities for growth,” says the Fact.MR analyst.
Key Takeaways from Preimplantation Genetic Testing Market Survey
- The U.S. preimplantation genetic testing market is anticipated to project rapid growth, owing to the increasing prevalence of genetic disorders such as Down syndrome among babies.
- In Europe, the U.K. is estimated to remain a dominant market in the region, expanding at a CAGR of 8% during the forecast period.
- Favored by the increasing investment in the healthcare industry, the market in China and India, collectively is likely to contribute around 60% of the total revenue share through 2031.
- Based on the test type, genetic screening is expected to emerge as the most preferred type of preimplantation genetic testing, accounting for nearly 2/3rd of the market revenue share by 2031.
- Next-generation sequencing (NGS) is dominating the technology segment and is estimated to exceed a revenue of US$ 200 million during the assessment period.
- Rising prevalence of genetic disorders among babies is fueling the demand for preimplantation genetic testing.
- Increasing use of preimplantation genetic testing for diagnosing minor disabilities and fatal diseases such as cancer is driving the market.
- Growing awareness amongst healthcare professionals regarding the effectiveness of genetic testing methods will spur the market growth.
- High cost of preimplantation genetic testing is a factor hampering the market growth.
- Lack of skilled professionals for preimplantation genetic testing is restraining the growth of the market.
- The outbreak has negatively impacted the market due to the restrictions on genetic clinics amid lockdown.
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The global market for preimplantation genetic testing is highly consolidated, where a small group of leading players are accounting for nearly half of the global sales. Key player in the landscape are focusing on engaging into strategic collaboration with other players to strengthen their market footprint. For instance,
- In May 2021, United Airlines and Abbott Laboratories announced entering into a collaboration to utilize Abbott’s NAVICA app and Abbott’s BinaxNOW™ COVID-19 Home Test to enhance the international travel experience.
- In March 2018, Thermo Fisher Scientific, one of the life science leaders, acquired Qiagen, a diagnostics company in $11.5 billion. The acquisition will assist the company in enhancing R&D expertise and industry-leading capabilities to accelerate innovation and cater to emerging healthcare needs.
Some of the prominent preimplantation genetic testing providers profiled by Fact.MR are:
- Agilent Technologies Inc.
- Abbott Laboratories
- CooperSurgical Inc.
- Oxford Gene Technology IP
- Illumina Inc.
- Thermo Fisher Scientific Inc.
- PerkinElmer Inc.
- Genea Limited
- Natera Inc.
- Rubicon Genomics Inc.
- CombiMatrix Corporation
More Valuable Insights on Preimplantation Genetic Testing Market
Fact.MR, in its new report, offers an unbiased analysis of the global preimplantation genetic testing market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in the preimplantation genetic testing market with detailed segmentation:
- Test Type
- Preimplantation Genetic Diagnostics
- Preimplantation Genetic Screening
- End User
- Preimplantation Genetic Testing in Hospitals
- Preimplantation Genetic Testing in Diagnostic Labs
- Preimplantation Genetic Testing in Research & Academic Institutions
- Preimplantation Genetic Testing in Specialized Clinics
- Preimplantation Genetic Testing by Other End Users
- Preimplantation Genetic Testing for Embryo HLA Typing for Stem Cell Therapy
- Preimplantation Genetic Testing for IVF Prognosis
- Preimplantation Genetic Testing for Late-Onset Genetic Disorders
- Preimplantation Genetic Testing for Inherited Genetic Diseases
- Preimplantation Genetic Testing for Other Applications
- NGS-based Preimplantation Genetic Testing
- PCR-based Preimplantation Genetic Testing
- FISH-based Preimplantation Genetic Testing
- CGH-based Preimplantation Genetic Testing
- SNP-based Preimplantation Genetic Testing
Key Questions Covered in the Preimplantation Genetic Testing Market Report
- The report offers insight into preimplantation genetic testing demand outlook for 2021-2031
- The market survey also highlights projected sales growth for the preimplantation genetic testing market between 2021 and 2031
- Preimplantation genetic testing market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Preimplantation genetic testing market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
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