Preimplantation Genetic Testing Market Growth Driven by Rising IVF Procedures
Preimplantation Genetic Testing Market Growth & Trends
The global preimplantation genetic testing market size is expected to reach USD 1.54 billion by 2030, growing at 10.3% CAGR from 2024 to 2030, as per the new report by Grand View Research, Inc. Recent technological advancements in testing have changed the current practice of prenatal screening and early detection of chromosomal abnormalities in an embryo. Moreover, the introduction of novel technologies such as NGS, PCR, and FISH is expected to drive market growth over the forecast period.
Growing awareness about genetic diseases and novel techniques for the detection of chromosomal abnormalities and embryo screening for successful IVF holds growth prospects for this vertical over the forecast period. Key market players and service providers such as COOPER SURGICAL, INC. are running awareness campaigns to promote an increased understanding of the diseases and screening of these diseases at the early stages. Such favorable initiatives are expected to increase the demand for PDT in IVF procedures globally.
Access the Preimplantation Genetic Testing Market Size, Share & Trends Analysis Report By Procedure (Screening, Diagnosis), By Product (Reagents & Consumables), By Technology, By Application, By End Use, By Region, And Segment Forecasts, 2024 - 2030
The increasing adoption of in vitro fertilization (IVF) technique consequently upsurges the utilization of preimplantation genetic testing (PGT). These techniques are advantageous in allowing the development of a healthy fetus and preventing the risk of selective pregnancy termination. Hence, PGT acts as an addendum to assisted reproductive technology.
Moreover, the increased risk of genetic disease in newborns and complications associated with IVF procedures push healthcare providers to recommend PGT. For instance, according to the CDC, in the U.S., about 6,000 babies are born with Down syndrome each year. It is the most common chromosomal condition diagnosed in newborns in the country. Moreover, the high risk associated with aged pregnancy further increases the adoption of PGT worldwide.
Key companies are involved in developing novel methods and solutions to carry out preimplantation genetic diagnosis and screening. To maintain their significant share in the revenue in the coming years, these participants are undertaking strategic initiatives. The strategic undertakings include regional expansion, collaborative development, and new product developments.
For instance, in October 2022, Ovation Fertility and Genomic Prediction partnered to expand genetic testing services by using the LifeView PGT platform for PFT. Moreover, in April 2022, Clevergene received PCPNDT for prenatal genetic testing. The company aimed to expand its services in preimplantation genetic screening and non-invasive prenatal testing.
Preimplantation Genetic Testing Market Report Highlights
· The rising incidence of genetic diseases has fueled the demand for preimplantation genetic testing (PGT). With increasing prevalence of genetic disorders, PGT has become crucial in IVF procedures.
· The Polymerase Chain Reaction (PCR) segment dominated the preimplantation genetic testing market and contributed 39.8% to the market share in 2023.
· The preimplantation genetic diagnosis segment dominated the preimplantation genetic testing market and contributed 77.0% of the market share in 2023.
· Europe preimplantation genetic testing market dominated the global market in 2023, capturing the largest revenue share at 40.74%.
Order your free sample copy of “Preimplantation Genetic Testing Market Report 2024 - 2030, published by Grand View Research
Key Preimplantation Genetic Testing Companies:
The following are the leading companies in the preimplantation genetic testing market. These companies collectively hold the largest market share and dictate industry trends.
· Quest Diagnostics Incorporated
· Natera, Inc.
· COOPER SURGICAL, INC.
· Genea Pty Limited.
· Invitae Corporation
· Laboratory Corporation of America Holdings
· Thermo Fisher Scientific Inc.
· Bioarray S.L.
· Illumina, Inc.
· Igenomix
· RGI
· F. Hoffmann-La Roche Ltd
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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