Preimplantation Genetic Testing Market worth $1.2 billion by 2028

As per the recently published report by MarketsandMarkets?,?The report??"Preimplantation Genetic Testing Market?by Procedure (Diagnosis, Screening), Technology (NGS, PCR, FISH, CGH, SNP), Product (Consumable, Instrument), Application (Aneuploid, HLA Typing), Type of Cycle, End User, and Region - Global Forecast to 2028", is projected to reach USD 1.2 billion by 2028 from USD 0.7 billion in 2023, at a CAGR of 11.4% during the forecast period.?

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• 182? ? ?Market Data Tables
• 44? ? ? ?Figures
• 245? ? ?Pages and in-depth TOC on?"Preimplantation Genetic Testing Market?- Global Forecast to 2028”

Some of the prominent key players are:

• Illumina, Inc. (US),
• Thermo Fisher Scientific Inc. (US),
• Agilent Technologies, Inc. (US),
• Revvity (US),?
• The Cooper Companies, Inc. (US), and many more......

Mergers & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the?Preimplantation Genetic Testing Market.

Growth DRIVER: Declining fertility rate

Global fertility rates are observing a decline across a majority of the developed and several developing countries, owing to various factors such as increased maternal age of conceiving, low sperm count & motility, and hormonal imbalance, thereby leading to higher demand for IVF procedures. Moreover, with growing public awareness about the effective role of genetic techniques in the risk assessment of genetic disorders, the adoption of preimplantation genetic testing procedures is expected to grow during the forecast period. According to the World Health Organization (WHO), in 2020, approximately 8 million couples and 186 million individuals lived with infertility.

OPPORTUNITY: Use of fertility treatment options by single parents and same-sex couples

Regulations legalizing same-sex marriages in various countries across the globe, including Greenland, Ireland, Canada, South Africa, and the US, are further expected to increase the adoption of fertility procedures. The laws that support the use of IVF procedures by same-sex and single parents are as follows such as The New South Wales Assisted Reproductive Technology Act 2007 permits all women, regardless of marital status, to access assisted conception procedures in the Australian state. On the other hand The Human Reproductive Technology Act 1991 allows all women (lesbian or single) to access donor insemination in Western Australia.

Market Segmentation:

• Preimplantation genetic screening, or aneuploidy screening, involves screening embryos for the assessment of aneuploidy. This segment is expected to dominate the global preimplantation genetic testing market during the forecast period, driven by a decrease in female fertility with rising maternal age, better implantation rate and reduced IVF cycle times.
• Based on the products, the global preimplantation genetic testing market is broadly segmented into instruments, reagents & consumables, and software & services. The expanding applications of specific technologies (such as NGS and aCGH for whole-genome sequencing and FISH in the diagnosis of specific genetic disorders).
• By end user, the global preimplantation genetic testing market is broadly segmented into hospitals, diagnostic labs, fertility clinics, and other end users. The large share of this segment can be attributed to factors such as the increasing number of fertility centers globally, the high success rate of treatment in fertility centers, and growing medical tourism in developing countries.
• Based on the region, the preimplantation genetic testing market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The North American market is driven by high incidence of chromosomal disorders, and an increasing number of awareness programs.

?Recent Developments of Preimplantation Genetic Testing Industry:

• In 2023, Thermo Fisher Scientific Inc. (US) launched two new NGS-based test kits to support preimplantation genetic testing-aneuploidy (PGT-A), commonly used in vitro fertilization (IVF) and intracytoplasmic sperm injection (ICSI) research.
• In 2022, The Cooper Companies, Inc. (US) released the addition of Parental QC, Genetic PN check, and Origin of Aneuploidy to PGT-A testing as PGT-Complete.
• In 2021, Vitrolife (Sweden) acquired Igenomix (Spain), a leader in reproductive genetic testing services primarily for IVF clinics.

The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. The growth in this market is attributed to the increasing demand for assisted reproductive technologies, rising maternal age trends, and ongoing research and development in the field of genetics. On the other hand, socio-ethical concerns surrounding preimplantation genetic testing may challenge the growth of the market. Whereas use of fertility treatment options by single parents and same-sex couples provides growth opportunities for market.