Global Preimplantation Genetic Testing Market: An Overview
The preimplantation genetic testing is an increasingly go-to option for identifying genetic birth effects in children. The technique relies on the use of vitro fertilization before pregnancy. The technique is highly recommended in clinical practices especially in cases wherein both parents have a genetic defect. The tests are performed on an embryo to determine various genetic associations or factors. The PGD or preimplantation genetic diagnosis is the medium to avail this test. On the other hand, PGS or presumed genetic screening refers to techniques are applied for the screening of genetically sound parents. The technique is used to screen aneuploidy. The growing demand for genetically testing and rising knowledge of genetics, thanks to big data and AI technology is a promising driver for growth of the preimplantation genetic testing market.
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Preimplantation Genetic Testing Market: Notable Developments
In 2018, twin girls in China were conceived using embryos that were specifically designed with the method of gene altering. In 2019, a 74 year Indian women gave birth to first-time twins. It is estimated that nearly 12% of the overall couples are infertile. Additionally, thanks to rising financial stress, and compatibility issues, women tend to conceive a far later in lifecycle. The growth of couples opting for reproductive technologies in Denmark stands at near 7% of all couples. The new technologies made available due to preimplantation genetic testing is expected to witness robust future as economies of scale drive down costs.
HelpCureHD, an organization has helped 24 families with Huntington’s disease to conceive healthy. The family-supported organization paid for the treatment of 24 families who were diagnosed with huntington’s disease. This is important to take note of as reproduction remains a key family concern and is likely to drive growth from charities. However, the costs of preimplantation genetic testing remain high and pose a major barrier to growth.
Preimplantation Genetic Testing Market: Drivers and Restraints
The rising advent of medical knowledge and growth of technologically advanced genetic devices are expected to result in considerable growth for the preimplantation genetic testing market. Additionally, positive response from several regulatory authorities to genetic testing and possible opportunities for conceving healthier children are expected to be major opportunities. Additionally, more tech companies are also expected to invest in testing. Recently, Facebook announced its desire to pay women more to conceive later as many women opted out of their jobs to take care of their families. The growing need for women to seek a balance between family and career, and growing tendency towards opting for family are expected to drive investment from the tech sector wherein salaries are extremely high and replacing labor can be far more costly.
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Preimplantation Genetic Testing Market: Geographical Analysis
The preimplantation genetic testing market is expected to witness major growth in North America region. The growing choice of women towards conceiving later, growing reliance on technology to identify pre-birth conditions, and expected cutting down costs due to scales of economy are expected to drive major growth in region. Additionally, the preimplantation genetic testing market is expected to drive considerable growth in Asia Pacific region. The region is home to a rising disposable income, and growing access to healthcare. Additionally, large investment in big data and Artificial Intelligence technology by countries like Japan and China are expected to remain major drivers for growth.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
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Below is a snapshot of these quadrants.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
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