by Market Overview
The global Preimplantation Genetic Diagnosis Market is estimated to be valued at US$53.5 million in 2020 and is expected to reach US$XX.X Mn by 2022, exhibiting a CAGR of 6.2% over the forecast period, according to a new report published by Coherent Market Insights. PGD is a cutting-edge technique in precision medicine that allows for the detection of genetic abnormalities in embryos before implantation, thus reducing the risk of passing on hereditary diseases to future generations. This market primarily caters to the growing demand for assisted reproductive technologies and increasing awareness of genetic disorders.
Market Dynamics
The market is driven by two key factors: advancements in genetic screening technologies and rising prevalence of genetic disorders.
Advancements in Genetic Screening Technologies: Significant technological advancements have revolutionized the field of genetic screening, making PGD more accurate and reliable. Techniques such as next-generation sequencing (NGS) and array comparative genomic hybridization (aCGH) have enhanced the detection of chromosomal abnormalities and genetic mutations, thus improving diagnostic accuracy and increasing patient acceptance.
Rising Prevalence of Genetic Disorders: The increasing frequency of genetic disorders, such as Down syndrome, cystic fibrosis, thalassemia, and Huntington’s disease, has fueled the demand for PGD. With rising awareness about the ability to prevent hereditary diseases through PGD, couples are opting for genetic screenings during the IVF process to ensure a healthy pregnancy and childbirth.
Market Key Trends
One key trend in the PGD market is the growing popularity of non-invasive preimplantation genetic testing (NIPT), which offers a safer and less invasive alternative to traditional invasive methods. NIPT utilizes cell-free fetal DNA obtained from maternal blood samples, eliminating the need for embryo biopsy and improving patient acceptance. This non-invasive approach is expected to drive the demand for PGD in the coming years.
SWOT Analysis
Strength: The ability of PGD to detect genetic abnormalities in embryos before implantation enhances the chances of a successful pregnancy and reduces the risk of passing on hereditary diseases.
Weakness: High costs associated with PGD procedures can limit its accessibility to certain patient populations, impeding market growth.
Opportunity: Growing investments in research and development for improving genetic screening techniques present opportunities for market expansion.
Threats: Ethical concerns and stringent regulations regarding genetic testing and embryo selection may hinder market growth.
Key Takeaways
– The global PGD market is expected to witness high growth, exhibiting a CAGR of 6.2% over the forecast period, driven by advancements in genetic screening technologies and the rising prevalence of genetic disorders.
– North America is the fastest-growing and dominating region due to favorable healthcare infrastructure, high awareness about genetic disorders, and technological advancements.
– Key players operating in the global PGD 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 players focus on strategic collaborations, product launches, and technological advancements to gain a competitive edge.
In conclusion, the Preimplantation Genetic Diagnosis Market is poised for significant growth fueled by advancements in genetic screening technologies, rising prevalence of genetic disorders, and increasing awareness about preventing hereditary diseases through precision medicine. As technology continues to evolve, PGD will continue to play a crucial role in ensuring healthier pregnancies and improving the quality of life for individuals and families affected by genetic disorders.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
