Fact.MR projects the global preimplantation genetic testing market to ascend at around 9% CAGR during the forecast period of 2021 to 2031, according to a recently published report. Increasing number of people suffering from genetic diseases due changing lifestyles has heightened growth prospects.
Historically, the market expanded at around 8% CAGR, reaching a valuation of almost US$ 550 Mn in 2020. Healthcare providers and institutions are highly considering preimplantation genetic testing to identify defects present in embryos before implantation.
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The biggest benefit offered by preimplantation testing is it offers an opportunity to conceive a pregnancy unaffected by genetic conditions. Researchers and healthcare institutes are trying to find new methods and techniques using the latest technology to minimize various risks associated with preimplantation genetic testing.
Key Takeaways from Market Study
- Global demand for genetic screening to gain 2/3rd market share through 2031.
- Maximum application found in embryo HLA typing for stem cell therapy, yielding 40% revenue.
- North America remains the highest consumer, contributing a CAGR of around 7%
- U.K contributing to the bulk of preimplantation genetic testing market expansion, growing at a CAGR of 8%
- India and China to collectively generate around 60% of demand across Asia through 2031
- NGS is likely to emerge as the most popular technology, surpassing US$ 200 Mn in revenue
“Prominent service providers are capitalizing on the broadening scope of preimplantation genetic testing in infant and prenatal care to ascertain presence of Down syndrome, heightening expansion prospects,” remarks a Fact.MR analyst.
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The report has also profiled leading players in the global market for preimplantation genetic testing. These include companies such as Abbott Laboratories, Agilent Technologies Inc., CooperSurgical Inc., Illumina, Inc., Oxford Gene Technology IP, PerkinElmer, Inc., Thermo Fisher Scientific, Inc., Natera, Inc., CombiMatrix Corporation, Rubicon Genomics, Inc., and Genea Limited.
Companies leverage strategic collaborative initiatives to increase their market share and profitability. They are also acquiring start-ups working on technologies to strengthen their product capabilities.
- For instance, in 2021, United and Abbott 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.
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the preimplantation genetic testing market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of test type (Genetic Diagnosis and Genetic Screening), application (embryo HLA typing for stem cell therapy, IVF prognosis, late-onset genetic disorders, inherited genetic disease and other applications), technology (NGS, PCR, FISH, CGH, and SNP) and end-use industry (hospitals, diagnostic labs, research & academic institutes, specialized clinics, and other end users), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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