Preimplantation Genetic Diagnosis Market

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Global Preimplantation Genetic Diagnosis Market
Is Estimated To Witness High Growth Owing To
Technological Advancements and Increasing Demand
for Preventive Genetic Testing The global
Preimplantation Genetic Diagnosis Market is
estimated to be valued at US53.5 million in
2020 and is expected to exhibit a CAGR of 6.2
over the forecast period (2020-2027), as
highlighted in a new report published by
Coherent Market Insights. A) Market Overview
The Preimplantation Genetic Diagnosis Market
involves the use of genetic testing for embryos
created through in vitro fertilization (IVF) to
determine the presence of genetic abnormalities
or disorders. This enables couples at risk of
passing on genetic disorders to their offspring
to make informed decisions regarding embryo
selection and implantation. PGD helps in the
detection of various genetic disorders, such as
cystic fibrosis, sickle cell anemia,
Huntington's disease, and Down syndrome, among
others. It also allows gender selection and
screening for chromosomal abnormalities. B)
Market Dynamics Driver 1 Technological
Advancements Technological advancements have
significantly improved the accuracy and
reliability of PGD procedures, making them more
accessible and affordable. The development of
next-generation sequencing (NGS) technology has
revolutionized the field of genetic testing by
enabling the analysis of multiple genetic
markers simultaneously, reducing the time and
cost involved. For example, the use of array
comparative genomic hybridization (aCGH) and NGS
allows for comprehensive analysis of embryo
chromosomes, increasing the success rate of
implantation and reducing the risk of genetic
disorders in newborns. Driver 2 Increasing
Demand for Preventive Genetic Testing The rising
awareness about genetic disorders and the
increasing prevalence of such disorders have led
to an increased demand for preventive genetic
testing, including PGD. Couples who have a family
history of a genetic disorder or who already
have an affected child are opting for PGD to
ensure the birth of a healthy child. The
growing trend of late pregnancies, where the risk
of genetic abnormalities is higher, is also
contributing to the demand for PGD.
Additionally, the increasing availability of IVF
clinics and the expansion of fertility tourism
are further driving market growth. C) SWOT
Analysis
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Strengths 1. High accuracy and reliability of
PGD procedures 2. Growing adoption of NGS
technology Weaknesses 1. Limited awareness
and accessibility in developing regions 2.
Ethical concerns and legal restrictions in some
countries Opportunities 1. Increasing
collaborations between IVF clinics and genetic
testing laboratories 2. Advancements in genetic
testing techniques Threats 1. Stringent
regulatory requirements for PGD procedures 2.
Competition from alternative technologies such as
non-invasive prenatal testing (NIPT) D) Key
Takeaways 1 The global Preimplantation Genetic
Diagnosis market is expected to witness high
growth, exhibiting a CAGR of 6.2 over the
forecast period, due to increasing demand for
preventive genetic testing and technological
advancements in the field. The use of
next-generation sequencing technology and
improved accuracy of genetic testing procedures
are driving market growth. 2 Regionally, North
America is expected to dominate the global
Preimplantation Genetic Diagnosis market, owing
to the high awareness about genetic disorders,
advanced healthcare infrastructure, and the
presence of key market players in the region.
However, Asia Pacific is anticipated to witness
the fastest growth, attributed to the increasing
disposable income, growing fertility tourism, and
rising awareness about PGD. 3 Key players
operating in the global Preimplantation Genetic
Diagnosis market include Amgen, Quest
Diagnostics, Genentech Inc., Vertex,
PerkinElmer, Inc., F. Hoffman-La-Roche Ltd,
Thermo Fisher Scientific, Inc., Laboratory
Corporation of America Holdings, Abbott
Laboratories, Illumina, Inc., Natera Inc.,
CooperGenomics Inc., Reproductive Genetics
Institute, Inc., Genea Ltd., Invitae Corporation,
and CombiMatrix Corporation. These companies are
focusing on technological advancements, strategic
collaborations, and mergers and acquisitions to
strengthen their market position. In
conclusion, the global Preimplantation Genetic
Diagnosis market is poised for significant growth
due to advancements in technology and increasing
demand for preventive genetic testing. However,
challenges related to regulations and ethical
concerns need to be addressed for the market to
reach its full potential.