Preimplantation Genetic Testing Market
Preimplantation Genetic Testing Market Analysis By Test Type (Preimplantation Genetic Diagnostics, Screening), By Application (IVF Prognosis, Late-Onset Genetic Disorders), By Technology (NGS-based, PCR-based), By End User, By Region - Global Insights to 2031
Preimplantation Genetic Testing Market Outlook
The preimplantation genetic testing market is projected to grow at nearly 9% CAGR and is likely to register an impressive valuation through 2031. Increasing prevalence of genetic disorders is broadening growth prospects.
Consumption Analysis of Preimplantation Genetic Testing from 2016-2020 Vs Market Outlook for 2021 to 2031
As per Fact.MR – a market research and competitive intelligence provider- over the last 5 years, the global market for preimplantation genetic testing expanded at 8% CAGR. In 2020, the market was valued at around US$ 550 Mn.
Preimplantation genetic testing is gaining traction for diagnosing minor disabilities and other serious diseases such as cancer. Researchers are also focusing on using innovative techniques for eliminating the possibility of embryo destruction while preimplantation genetic testing.
All these factors create an ideal environment for preimplantation genetic testing across the world, and the market is expected to show an impressive valuation by 2031, expanding at nearly 9% CAGR.
Interested to Procure The Data
How Has COVID-19 Impacted Demand for Preimplantation Genetic Testing?
Demand for preimplantation genetic testing declined substantially in the initial months of the COVID-19 pandemic. Restrictions on clinic genetics were amongst the most visible effects of the impact.
Countries have effectively shut down their testing units, putting a strain on equipment manufacturers. As a result of the pandemic, telemedicine-based consultations and counseling were adopted globally.
Policymakers, worldwide, have announced massive monetary and fiscal stimuli to mitigate the pandemic’s economic fallout to keep financially starved businesses stay afloat. These measures are anticipated to leverage the global preimplantation genetic testing market.
Furthermore, as the months passed, key healthcare providers leveraged every possible resource to develop efficient and swift diagnostic testing approaches to detect the novel coronavirus amongst patients. This has boded well for preimplantation genetic testing.
How is Genetic Screening across Specialized Clinics Fueling Global Demand?
Genetic screening is expected to be the most preferred preimplantation genetic testing approach. The section is projected to gain a nearly 2/3rd share of the market for preimplantation genetic testing in terms of revenue until 2031.
According to the Centers for Disease Control and Prevention (CDC), chronic ailments such as cancer, heart disorders, and diabetes are the leading cause of disability and deaths of people across the United States.
The country’s healthcare system spends nearly US$ 3 Bn annually on direct and indirect costs. In addition to this, the increasing awareness regarding the effectiveness of genetic testing methods amongst healthcare professionals is projected to favor market growth in forthcoming years.
Amongst all end users, specialized clinics are expected to experience strong growth. They are estimated to exceed the US$ 200 Mn revenue threshold during the forecast period. Meanwhile, hospitals are also expected to witness impressive growth in the global market for preimplantation genetic testing through 2031.
In June 2020, The U.S. Food and Drug Administration issued an emergency use authorization (EUA) to Illumina, Inc. for the first COVID-19 diagnostic test utilizing next-generation sequence technology. The FDA authorized the Illumina COVIDSeq Test for the qualitative detection of SARS-CoV-2 RNA from respiratory specimens collected from individuals suspected of COVID-19 by their healthcare provider.
An Adaptive Approach to Modern-day Research Needs
Which Region Offers the Largest Opportunity for Preimplantation Genetic Testing Providers?
North America represents the largest opportunity for preimplantation genetic testing service providers. Growing number of chromosome abnormality cases in the region leads to various genetic disorders. A CAGR of 7% has been projected for the market.
According to CDC, each year, about 6,000 babies are born with Down syndrome, which is about 1 in every 700 babies born. Down syndrome among newborn babies in the U.S continues to be the most common chromosomal disorder, broadening scope of preimplantation genetic testing across the North American region.
What is the Demand Outlook for Preimplantation Genetic Testing in the U.K?
The UK is projected to be the most lucrative market for preimplantation genetic testing across Europe. Fact.MR estimates a CAGR of around 8% for the U.K market across the forecast period.
In 2021, the market demand is projected to bolster, owing to the presence of various healthcare institutions and hospitals providing preimplantation genetic testing and high awareness due to the various initiatives by the government.
Moreover, genetic testing in the U.K increasing as the country amid high incidence of genetic disorders. According to Genetic Alliance, it is estimated that at least 1 child out of 25 is affected by a genetic disorder. This means that 30,000 babies are diagnosed each year and more than 500 million children and adults are living with a genetic disorder. Owing to these factors, the market is projected to expand through 2031.
What are the Growth Opportunities for Preimplantation Genetic Testing across India and China?
Emerging economies such as China and India are experiencing numerous advancements in their respective healthcare sectors. Reproductive health is especially accompanied by launch of several supportive governmental legislations. Collectively, both regions are expected to contribute nearly 60% of total revenue.
Presence of regulatory bodies, such as the Indian Ministry of Health & Family Welfare, which approves and monitor the challenges associated with reproductive health in India: is anticipated to bode well for regional growth of the market for preimplantation genetic testing.
How is Demand for Embryo HLA typing for Stem Cell Therapy Gaining Ground?
Preimplantation genetic testing is likely to find maximum application in embryo HLA typing for stem cell therapy.
Accounting for more than 40% revenue, embryo HLA typing for stem cell therapy is projected to generate an incremental opportunity exceeding US$ 70 Mn by 2031.
How is Next-Generation Sequencing Technology Generating Demand?
Next-generation sequencing (NGS) is expected to be the dominant preimplantation genetic testing technology. NGS is estimated to exceed US$ 200 Mn in revenue during the forecast period.
According to the Center for Disease Control and Prevention during the past 5 years, NGS has transitioned from research to clinical use. At least 14 countries have created initiatives to sequence large populations, and it is projected that more than 60 million people worldwide will have their genome sequenced by 2025.
Avail customized purchase options for your needs
Preimplantation genetic testing market is a highly consolidated market in which a small group of players accounts for near half of the global sales.
In May 2021, United Airlines and Abbott Laboratories announced a collaboration to use Abbott’s BinaxNOW™ COVID-19 Home Test and Abbott’s NAVICA app to help make the international travel experience more seamless.
The CDC guidelines permit travelers to self-administer a rapid antigen test under the real-time supervision of a telehealth service and use the verified negative test result to board an international flight to the U.S. if they test negative.
Historical Data Available for
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Segments Covered
- Preimplantation Genetic Diagnostics
- Preimplantation Genetic Screening
- 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
- FAQs -
As of 2020, the preimplantation genetic testing services market reached US$ 550 Mn
From 2016 to 2020, preimplantation genetic testing services expanded at around 8% CAGR
The market for preimplantation genetic testing is poised to expand at above 9% CAGR until 2031
Preimplantation genetic screening is acquiring traction, amid growing need to screen infants for possible prevalence of Down syndrome
North America represents the most opportunistic market, growing at 7% CAGR
The U.K preimplantation genetic testing landscape is poised to grow at around 8% CAGR
India and China will likely account for 60% of overall demand for preimplantation genetic testing until 2031
Testing for embryo HLA typing for stem cell therapy is likely to generate incremental opportunity exceeding US$ 70 Mn by 2031
Next generation sequencing (NGS) is estimated to exceed US$ 200 Mn in revenue during the forecast period.
Agilent Technologies, Abbott Laboratories, Illumina Inc. and Thermo Fisher Scientific are some prominent preimplantation genetic testing service providers
Need an Exclusive Report for your Unique Requirement?
- Related Reports -
Adenovirus Testing Market to witness a 6.9% growth by 2031. Increasing need for early diagnosis of c...
The fire testing market to grow at CAGR of 5.9% & is estimated to be more than US$ 13 Bn by 2032. Th...
Model Based Testing Market expects US$ 1.82 billion in valuations by 2032 at a 4.6% CAGR. Model base...