by The global Preimplantation Genetic Diagnosis Market is estimated to be valued at US$ 64.08 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 Overview:
Preimplantation genetic diagnosis (PGD) refers to a procedure performed on embryos created through in vitro fertilization before implantation. PGD is used to detect genetic defects in embryos and is commonly carried out during the IVF process. It helps identify genetic defects related to single-gene disorders and chromosome abnormalities. PGD is advantageous as it can help avoid passing on genetic diseases from parents to children and increase the success rate of IVF. It allows couples at high risk of transmitting genetic disorders to have healthy genetically related children.
Market key trends:
One of the major trends in the preimplantation genetic diagnosis market is the rising adoption of next generation sequencing (NGS) technologies. NGS allows for high-throughput analysis of multiple samples in parallel and comprehensive chromosomal screening. This has streamlined PGD processes by reducing costs and turnaround time. Growing awareness about PGD and advancing fertility treatments are also fueling the market growth. Moreover, an increasing prevalence of genetic disorders and rising infertility rates worldwide present lucrative growth opportunities. However, strict regulations surrounding embryo testing and social and ethical issues associated with PGD may hamper market growth.
Porter’s Analysis
Threat of new entrants: The threat of new market entrants is low. High initial costs such as equipment, infrastructure and skilled labor pose significant entry barriers.
Bargaining power of buyers: The bargaining power of buyers is moderate. The presence of several preimplantation genetic diagnosis providers gives buyers alternatives to choose from.
Bargaining power of suppliers: The bargaining power of suppliers is low to moderate. Suppliers of specialized equipment and reagents derive most of their revenues from this market.
Threat of new substitutes: The threat of substitutes is low as there are limited alternatives for preimplantation genetic diagnosis.
Competitive rivalry: Competition is high among existing providers to sustain market share.
Key Takeaways
The global Preimplantation Genetic Diagnosis Market Growth is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing prevalence of genetic disorders and growing awareness & acceptance of assisted reproductive technologies.
Regionally, North America is expected to dominate the global Preimplantation Genetic Diagnosis market during the forecast period. This is attributed to increasing fertility tourism, advanced healthcare infrastructure and rising healthcare spending in the region. Asia Pacific is anticipated to exhibit the fastest growth due to growing medical tourism industry, rising fertility issues and improving healthcare facilities.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
