Preimplantation Genetic Testing Market is Estimated to grow at a CAGR of 12.5% during the forecast period

Preimplantation genetic testing Market was estimated to be worth USD 0.8 billion in 2023, and during the 2024–2034 forecast period, it is expected to grow at a compound annual growth rate (CAGR) of 12.5% to reach USD 2.2 billion. By choosing embryos devoid of genetic defects, preimplantation genetic testing dramatically raises the likelihood of a fruitful pregnancy and the birth of a healthy kid. The market is increasing and sustainable since it is in line with the healthcare industry.

Preimplantation genetic testing (PGT) is a medical method that identifies defective embryos early on in the prenatal genetic diagnosis process, allowing genetically normal embryos to be transferred. Procedures involving assisted reproductive technology (ART) now include this technology as a necessary component. The process entails examining embryos for distinct genetic disorders or chromosomal irregularities to guarantee that solely sound embryos are inserted into the uterus. For older women having IVF, couples at risk of passing on genetic diseases, and couples with a history of recurrent miscarriages, these procedures are essential.

 

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GROWTH DRIVERS

One of the main factors propelling the market is the rise in the prevalence of chromosomal abnormalities and genetic disorders. In developed nations, congenital anomalies and genetic illnesses may account for as much as 50% of childhood fatalities. Additionally, up to 30% of pediatric hospital hospitalizations may be related to these illnesses. An estimated 240 000 infants worldwide pass away from congenital diseases within 28 days of birth each year. An additional 170,000 children between the ages of 1 month and 5 years die as a result of congenital diseases.

Additionally, the study discovered that infertility rates are comparable in high-, middle-, and low-income nations. The increased investment in healthcare, particularly in developing nations, has lowered the cost of advanced reproductive technology. People will be able to afford and utilize PGT services to a greater extent as their disposable income increases and healthcare infrastructure advances. The WHO and Becker report that the expense of healthcare increased to a record high of 10.7% in 2023 from 7.4% in 2022. Globally, the insurer-reported cost trend is expected to average 9.9% in 2024, with some regions experiencing a more significant increase.

MARKET SEGMENTATION:

·         By Product & Services- reagent and consumables, instruments, software and services

·         By Procedure Type- Preimplantation Genetic Diagnosis & Preimplantation Genetic Screening

·         By Technology- Next-Generation Sequencing, Fluorescence In-Situ Hybridization, Polymerase Chain Reaction, Comparative Genomic Hybridization and Single-Nucleotide Polymorphism

·         By Application- Structural Chromosomal Abnormalities (Translocations, Deletions, Inversions, Duplication), Aneuploidy, Gender Identification, Single Gene Disorders, X-Linked Disorders, HLA Typing

·         By Type of Cycle- Fresh Donor, Fresh Non- Donor, Frozen Donor, Frozen Non-Donor

·         By End-User- Hospitals, Diagnostic Laboratories, Fertility Clinics

·         By Region- North America, Europe, Asia Pacific, The Middle East and Africa, South America

Global Key Players:

·         Illumina, Inc.

·         Thermo Fisher Scientific Inc.

·         CooperSurgical, Inc.

·         Agilent Technologies, Inc.

·         Revvity

·         Abbott

·         Takara Bio, Inc.

·         Qiagen

·         Vitrolife

·         Oxford Nanopore Technologies

·         Bioarray S.L.

·         Other Players

 

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xResearch is a market research and consulting organization that uses unique data, expert analysis, and new technologies to create trusted intelligence on industries. Our research is focused on delivering an informed and impartial view on essential market data of industry, and it is primarily driven by an in-depth study covering the following parameters: Market Sizing and Forecasting, Market Segmentation, Competitive Analysis, Strategic Assessment and Business Modelling.

                                   

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