COVID-19 Analysis on the Global Preimplantation Genetic Testing Market
A recent market research report on the Preimplantation Genetic Testing market published by Fact.MR is an in-depth assessment of the current landscape of the market. Further, the report elaborates on the impact of the COVID-19 on the Preimplantation Genetic Testing market and provides a thorough understanding of the growth potential of each market segment over the forecast period (2020-2030).
Growing number of people are suffering from genetic diseases due to the changing lifestyle and other factors. Hence, testing for genetic disease or disorder has become important. Healthcare providers and institutes are highly considering preimplantation genetic testing to identify defects present in embryos before implantation. The biggest benefit offered by preimplantation testing is it offers an opportunity to conceive a pregnancy unaffected by genetic conditions.
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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. Various techniques are being used for preimplantation genetic, among all the techniques, Fluorescent In Situ Hybridization (FISH) is one of the most commonly used technique. However, FISH cannot access all the chromosomes. Meanwhile, another new technique being used is Single Nucleotide Polymorphism (SNP), this technique can examine all the 23 chromosome pairs, resulting in better analysis and minimizing the risk of genetic disorders.
According to a new study by Fact.MR, the global preimplantation genetic testing market is likely to witness robust growth and it is estimated to increase to 8.4% CAGR during the forecast period, 2017-2022. Owing to the increased risk of various diseases, the preimplantation genetic testing which includes profiling of embryos even before implantation is gaining popularity. Moreover, the absence of cures for various genetic conditions is driving the demand for preimplantation genetic testing. The preimplantation genetic testing is witnessing a rise in demand due to the high chances of pregnancy with this procedure as compared to the other treatments.
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6 Forecast Highlights on Global Preimplantation Genetic Testing Market
- North America is likely to emerge as the biggest market in the global preimplantation genetic testing. North America preimplantation genetic testing market is projected to surpass US$ 200 million by the end of 2023. Increasing adoption of innovative technologies and rising awareness about preimplantation genetic testing to avoid various birth defects among babies are some of the factors fueling the market growth in the region.
- Europe is expected to be the second most lucrative market for preimplantation genetic testing. 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 is driving the growth of preimplantation genetic testing in Europe.
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- A genetic screening test is likely to emerge as one of the most preferred test types in the global preimplantation genetic testing market. By the end of 2023, Genetic screening is projected to surpass US$ 300 million revenue.
- Specialized clinics are likely to be the largest users of the preimplantation genetic testing. By the end of 2017, specialized clinics are projected to account for nearly two-fifth of the revenue share on the global revenue.
- Preimplantation genetic testing is likely to find the largest application in embryo HLA typing for stem cell therapy. Accounting for more than two-fifth of the revenue share, embryo HLA typing for stem cell therapy is projected to bring in more than US$ 200 million revenue by 2023 end.
- NGS is likely to emerge as the biggest technology in preimplantation genetic testing. Witnessing a strong growth during the forecast period, NGS is anticipated to create an incremental opportunity of over US$ 80 million between 2017 and 2023.
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