Dublin, Oct. 11, 2023 (GLOBE NEWSWIRE) -- The "Reproductive Genetics Market, By Product, By Type, By Technology, By Application, By End User, and by Region - Global Forecast to 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The global reproductive genetics market size was USD 4,854.5 million in 2022 and is expected to reach at USD 17,305.9 million by 2033 with a CAGR of 12.25% during the forecast period 2023-2033.
Increase in pregnancy complications further require genetic testing, rising awareness and acceptance for genetic testing and screening, and rapid technological advancements are some of the factors contributing to the market growth.
Furthermore, increasing investment for the development of non-invasive prenatal testing, surge in demand for genetic testing and improvement in reimbursement for medical tests, and growing preference for genetic testing of embryos during pregnancy are other factors supporting the market growth. However, stringent regulations, high cost of genetic tests, lack of skilled healthcare professionals, and ethical and social issues are expected to hinder the growth.
Increase in pregnancy complications further require genetic testing is expected to propel the market growth during the forecast period. For instance, in February 2023, The World Health Organization estimates that 800 women will die from pregnancy-related problems per day in 2020. Low- and lower middle-income countries accounted for over 95% of all maternal fatalities in 2020.
Increasing investment for the development of non-invasive prenatal testing is expected to fuel the market growth during the forecast period. For instance, in May 2021, the business Juno Diagnostics, which aims to improve access to genetic health information, has announced the closure of a USD 25 million Series A fundraising round headed by Perceptive Xontogeny Venture (PXV) Fund. The money will go to research and the non-invasive prenatal diagnostic products offered by JunoDx, conducting clinical validation research, and commercializing them.
Segmentation: Reproductive Genetics Market Report 2022 - 2033
By Product (Revenue, USD Million), 2022 - 2033
- Laboratory Developed Test (LDT)
- Kits
- Reagents & Consumables
By Type (Revenue, USD Million), 2022 - 2033
- Pre-Natal Screening
- Carrier Screening
- Pre-Implantation Genetic Testing
- Infertility Genetic Testing
By Technology (Revenue, USD Million), 2022 - 2033
- Microarray
- Polymerase Chain Reaction (PCR)
- Next-Generation Sequencing (NGS)
- In-Situ Hybridization (ISH)
By Application (Revenue, USD Million), 2022 - 2033
- Single Gene Disorder
- Aneuploidy
- Structural Chromosomal Abnormality
By End User (Revenue, USD Million), 2022 - 2033
- Diagnostic Laboratories
- Hospitals & Clinics
- Others
By Region (Revenue, USD Million), 2022 - 2033
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Market Dynamics
Drivers
- Increase in pregnancy complications further requiring genetic testing.
- Rising awareness and acceptance of genetic testing and screening.
- Growing popularity of genomic medicine.
- Growing focus on developing large research industries.
Restraints
- High cost of genetic tests.
- Lack of general understanding.
- Lack of skilled healthcare professionals.
Opportunities
- Rising investment opportunities.
- Favorable policies.
- Increasing end-use.
Trends
- New product launches.
- Use of cutting-edge technology.
- Development of innovative methods and new techniques.
Challenges
- Longer duration development.
- Lack of awareness among individuals.
- Poor reimbursement scenarios.
Companies Mentioned
- Quest Diagnostics
- Illumina Inc.
- Qiagen N.V.
- Agilent Technologies Inc.
- Fulgent Genetics Inc.
- Centogene AG
- Myriad Genetics Inc.
- OPKO Health Inc
- PerkinElmer Inc.
- Thermo Fisher Scientific Inc.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2022 - 2033 |
| Estimated Market Value (USD) in 2022 | $4854.5 Million |
| Forecasted Market Value (USD) by 2033 | $17305.9 Million |
| Compound Annual Growth Rate | 12.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/2wtzfc
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