Dublin, Dec. 06, 2021 (GLOBE NEWSWIRE) -- The "Global Preimplantation Genetic Testing Market Analysis and Forecast 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global preimplantation genetic testing market was valued at $972.1 million in 2020 and is expected to reach $2,725.7 million by 2031, registering a CAGR of 9.69% during the forecast period 2021-2031.
The growth is attributed to the advancing maternal age globally, rising adoption of in-vitro fertilization, increasing awareness of genetic testing, and rising emphasis on predictive testing. Further, continued significant investments by biotechnology firms to improve the technology for genetic testing and to improve affordability have also promoted the prominence of preimplantation genetic testing.
The exponential rise in the usage of in-vitro fertilization facilities as an option for healthy childbirth and increasing affordability for genetic testing on a global level has created awareness as well as demand among consumers, which has eventually led to the companies to invest in the development of more such preimplantation genetic test.
Companies such as Agilent Technologies, Inc. and Natera, Inc. have been incorporating major strategies to enhance their market presence via key developments. The other major contributors to the market include companies such as Thermo Fisher Scientific, PerkinElmer, Inc., Invitae Inc., and Igenomix.
Based on region, North America holds the largest share of the preimplantation genetic testing market due to eased regulatory scenario and a large number of IVF facilities offering such PGT tests.
Further, substantial investments made by biotechnology companies to improve the genetic testing facilities and advancing technologies along with the rise in per capita income in the region are also fuelling the growth of the respective market. Apart from this, the Asia-Pacific region is anticipated to grow at the fastest CAGR during the forecast period.
Market Growth Drivers
- Advancing Maternal Age Globally
- A Rise in Adoption of In-Vitro Fertilization
- Increasing Awareness for Genetic Testing
- Rising Emphasis on Predictive Genetic Testing for Early Detection
Market Challenges
- Ethical Issues Pertaining to the Preimplantation Genetic Testing
- High Procedural Cost Associated with Preimplantation Genetic Testing
Market Opportunities
- Decreasing Cost of Genomic Sequencing
- The Emergence of Reproductive Tourism
Key Questions Answered in this Report:
- What are the factors necessitating the requirement of global preimplantation genetic testing globally?
- What are the different types of products available in the global preimplantation genetic testing market?
- What are the key development strategies implemented by the key players to stand out in this global preimplantation genetic testing market?
- What are the various technologies deployed within the global preimplantation genetic testing market?
- How have the strategic collaborations among the key players provided a push to product development within the global preimplantation genetic testing market?
- Which are the leading companies that are dominating the global preimplantation genetic testing market?
- Based on the application type, which therapy in the global preimplantation genetic testing market is anticipated to witness a massive rise in demand during the forecast period?
- How is each segment of the global preimplantation genetic testing market expected to grow during the forecast period, and what revenue will be generated by each segment by the end of 2031?
Key Companies Profiled
- Abbott Laboratories
- Agilent Technologies, Inc.
- BGI
- Fulgent Genetics, Inc.
- Igenomix
- Illumina, Inc.
- Invitae Corporation
- Myriad Genetics, Inc.
- MedGenome Labs Ltd.
- Natera, Inc.
- PerkinElmer, Inc.
- Pac Genomics
- Thermo Fisher Scientific Inc.
For more information about this report visit https://www.researchandmarkets.com/r/pgltzr
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