Preimplantation Genetic Testing (PGT) Market Size & Forecast By Type, By Application, And Segment Forecasts To 2024
LONDON, Nov. 28, 2016 /PRNewswire/ -- The global preimplantation genetic testing market was valued at USD 129.3 million in 2015 and is expected to reach a value of USD 221.1 million by 2024, according to a new report by Grand View Research, Inc. Growth in number of offspring born with inherited conditions is a high impact rendering factor for growth of this market. Emergence of preimplantation genetic diagnosis for detection of nearly all genetically inherited conditions enable couples, who are carriers of such conditions, screen their embryos before transferring to uterus and this is the primary driver of this industry.
Increase in adoption of IVF as a result of pregnancy-related complications is anticipated to drive demand for preimplantation genetic testing services. Women who are undergoing IVF are expected to undergo PGT cycles for prevention of inheritance of chromosomal abnormalities by offspring, which as a consequence is augmenting growth.Growth in demand for these tests can be ascribed to the increase in rate of infertility due to environmental and lifestyle factors, which in turn, emphasizes the need for development in this vertical.
Further Key Findings From the Study Suggest:
Preimplantation genetic testing is available for different types of services, which include X-linked diseases, Human Leukocyte Antigen (HLA) typing, chromosomal abnormalities, freeze embryo testing, aneuploidy screening, detection of serious late-onset diseases, and gender selection. Preimplantation genetic testing for chromosomal abnormalities accounted for approximately 29% of the market share due to advancements in its screening by the use of noninvasive prenatal testing, which employs cell-free DNA for early detection of chromosomal abnormalities, such as Patau syndrome, Edwards syndrome, and Down syndrome.This technology has various applications. Amongst all the applications, embryo HLA typing for stem cell therapy dominated with a share of over 30%. This largest share can be attributed to the benefits associated with the use of PGD for identification of HLA compatible embryos for stem cell therapy.Although usage of these tests for inherited chromosomal disease is observed to have less penetration in the current scenario, it is expected to witness tremendous growth in the coming years due to increasing adoption rate of this service for detection of inherited genomic anomalies, such as sickle cell anemia and Huntington's disease.Europe accounted for the largest share with respect to revenue as a result of growing awareness about the scope of these diagnostic services for delivering genetically fit offspring. Also, developed infrastructure, rising investments by governmental bodies, and presence of key players in this region, collectively encourages growth of this industry in this region.Some of the key players that have commercialized PGT services include F. Hoffmann-La Roche AG; Genea Limited; Quest Diagnostics, Illumina, Inc.; Natera, Inc; CooperSurgical, Inc; LabCorp; California Pacific Medical Center; Thermo Fisher Scientific, Inc; Igenomix; Reproductive Genetic Innovations, LLC; CombiMatrix; Good Start Genetics, Inc; Bioarray S.L; and Reproductive Health Science Ltd.These key participants are actively involved in the R&D initiatives for development of novel PGT services. Partnership between entities and acquisition of small companies by major companies in order to reinforce its status in the market as well as to expand its product catalog for this vertical is expected boost revenue generation in preimplantation genetic diagnostics.For instance, In December 2015, Natera, entered into a partnership with MedGenome, provider of genomic solutions for personalized healthcare in India. As per this partnership, MedGenome will be allowed to use the Panorama noninvasive prenatal test in its research laboratory. As a result, MedGenome becomes the first provider of this service in India.Download the full report: https://www.reportbuyer.com/product/4394793/About ReportbuyerReportbuyer is a leading industry intelligence solution that provides all market research reports from top publishershttp://www.reportbuyer.comFor more information: Sarah Smith Research Advisor at Reportbuyer.com Email: firstname.lastname@example.org Tel: +44 208 816 85 48 Website: www.reportbuyer.com
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