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Market Overview:
Preimplantation genetic diagnosis (PGD) refers to a medical procedure conducted before implantation during in-vitro fertilization. PGD is typically performed to identify genetic defects in embryos before implantation and pregnancy. It allows testing for severe inherited genetic diseases and chromosome abnormalities. PGD can detect genetic conditions like cystic fibrosis, Huntington’s disease, sickle cell anaemia, Tay-Sachs disease, and thalassemia. It can also determine gender selection for certain X-linked conditions. PGD helps to transfer only healthy embryos during IVF cycles, thereby reducing disease transmission and chances of miscarriage.
The global Preimplantation Genetic Diagnosis Market is estimated to be valued at US$ 53.5 Mn or Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving the preimplantation genetic diagnosis market growth is the rising prevalence of genetic disorders globally. As per the World Health Organization (WHO), over 7000 rare genetic diseases have been identified to date. Additionally, rising awareness regarding prenatal genetic screening and testing among people is positively impacting the market. PGD helps identify genetic abnormalities as early as during IVF cycles, which is propelling its demand. Technological advancements have enabled procedures like next-generation sequencing, which offers comprehensive screening with high accuracy. This is further augmenting the market expansion. Moreover, increasing public funding for assisted reproductive technologies will continue fueling the preimplantation genetic diagnosis market during the forecast period.
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Porter’s Analysis
Threat of new entrants: The threat of new entrants in the Preimplantation genetic diagnosis market is moderate due to high capital requirements and stringent regulatory procedures.
Bargaining power of buyers: The bargaining power of buyers is moderate due to the presence of several players offering a wide range of PGD testing kits and services.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the availability of substitute raw materials and inputs.
Threat of new substitutes: The threat of new substitutes is moderate due to the scope of innovations and advancements in assisted reproductive technology.
Competitive rivalry: High due to the presence of several global and regional players competing based on quality, product differentiation, and price.
Key Takeaways
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 awareness about genetic testing and availability of advanced assisted reproductive technologies.
Regionally, North America dominates the global preimplantation genetic diagnosis market due to advanced healthcare infrastructure, availability of technologically advanced testing procedures, and growing infertility rates. Asia Pacific is expected to emerge as the fastest-growing market due to increasing government support for infertility treatment and high incidences of genetic disorders.
Key players operating in the preimplantation genetic diagnosis market are Amgen, Quest Diagnostics, Genentech Inc., Vertex, PerkinElmer, Inc., F. Hoffman-La-Roche Ltd, Thermo Fisher Scientific, Inc., and Laboratory Corporation of America Holdings, Abbott Laboratories, Illumina, Inc., Natera Inc., CooperGenomics Inc., Reproductive Genetics Institute, Inc., Genea Ltd., Invitae Corporation, and CombiMatrix Corporation. Key players are focusing on new product launches, partnerships, and increasing their geographic presence through mergers and acquisitions to strengthen their market position.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
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.
