Next Generation Sequencing Technology Leads Preimplantation Genetic Testing Market, Offering Cost-Effective and Precise Diagnosis

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Oct 24, 2023, 10:05 ET

DUBLIN, Oct. 24, 2023 /PRNewswire/ -- The "Preimplantation Genetic Testing Market by Procedure (Diagnosis, Screening), Technology (NGS, PCR, FISH, CGH, SNP), Product (Consumable, Instrument), Application (Aneuploid, HLA Typing), Type of Cycle, End User, and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global preimplantation genetic testing market is on an upward trajectory, poised to hit USD 1.2 billion by 2028, according to recent projections. This marks a significant increase from the USD 0.7 billion recorded in 2023, with a steady compound annual growth rate (CAGR) of 11.4% anticipated during the forecast period.

The key drivers fueling this market's growth include the burgeoning number of fertility clinics and IVF centers worldwide and a surge in public-private investments dedicated to the development of innovative diagnostic techniques. However, the growth is not without its challenges, as unfavorable government regulations and healthcare reforms for IVF procedures are impeding progress in the preimplantation genetic testing sector.

In terms of technology, the next generation sequencing (NGS) segment stands out, commanding the highest market share during the forecast period. NGS technology offers several advantages, including cost reduction, improved detection of embryos with differing results (mosaicism), and enhanced identification of structural abnormalities like chromosomes with missing or duplicate segments.

The aneuploidy application segment is expected to experience the highest compound annual growth rate (CAGR) during the forecast period. Aneuploidy detection using preimplantation genetic screening enhances the chances of successful embryo implantation, lowers the risk of miscarriage, and reduces the likelihood of having a child with a chromosome abnormality. These advantages are driving the demand for preimplantation genetic testing for aneuploidy detection.

Regionally, the Asia Pacific region is positioned for the highest growth rate in the preimplantation genetic testing market. The rapid economic growth in emerging countries like China and India has led to increased disposable income levels, presenting significant potential for the Asia Pacific preimplantation genetic testing market.

Key Highlights:

Rising Maternal Age and Declining Fertility Rates to Drive Market Growth (Figure 17).
Asia-Pacific Expected to Register the Highest Growth Rate During the Forecast Period (Figure 18).
The US and Reagents and Consumables Segment Commanded the Largest Market Share in 2022 (Figure 19).
Asia-Pacific Countries Poised to Grow at the Highest Rate During the Study Period (Figure 20).

Market Dynamics

Drivers:

Decline in Fertility Rates.
Rise of Fertility Tourism in Emerging Economies.
Increasing Number of Fertility Clinics and IVF Centers.
Increasing Public-Private Investments to Develop Novel Diagnostic Techniques.
High Risk of Chromosomal Abnormalities with Advancing Maternal Age.

Restraints:

High Procedural Cost.
Unfavorable Government Regulations and Healthcare Reforms for IVF Procedures.

Opportunities:

Improving Healthcare Infrastructure and Rising Medical Tourism in Emerging Economies.
Use of Fertility Treatments by Single Parents and Same-Sex Couples.

Challenges:

Socio-Ethical Concerns Surrounding Preimplantation Genetic Testing.
Age-Related Procedural Challenges.

Companies Mentioned:

Abbott
Agilent Technologies, Inc.
Bangkok Genomics Innovation
Berry Genomics
Bioarray S.L.
Fulgent Genetics
Genea Limited
Genemind Biosciences Co. Ltd.
Illumina, Inc.
Invicta Genetics
Medgenome
Medicover Genetics
Nanjing Superyears Gene Technology Co. Ltd.
Oxford Gene Technology IP Limited
Oxford Nanopore Technologies PLC
Qiagen
Revvity
Sciegene Corporation
Shiva Scientific Company
Takara Bio Inc.
The Cooper Companies, Inc.
Thermo Fisher Scientific Inc.
Unimed Biotech (Shanghai) Co. Ltd.
Vitrolife
Yikon Genomics

For more information about this report visit https://www.researchandmarkets.com/r/iaamif

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