Preimplantation Genetic Testing Market Share Evolution and Market Growth Trends 2024 - 2031
Executive Summary
The global Preimplantation Genetic Testing (PGT) market research reports indicate a steady increase in market growth due to the rising demand for advanced genetic testing techniques in the field of assisted reproduction. The market is expected to grow at a CAGR of 7% during the forecasted period.
Market trends in the PGT industry include the increasing adoption of next-generation sequencing (NGS) technology, which allows for more accurate detection of genetic abnormalities in embryos. Additionally, there is a growing trend towards using PGT for screening common genetic disorders, such as cystic fibrosis and sickle cell anemia, which is driving market growth.
In terms of geographical spread, North America (NA) has been a key market for PGT, with the presence of advanced healthcare infrastructure and a high demand for fertility treatments driving market growth. The Asia-Pacific (APAC) region is also witnessing significant growth in the PGT market, fueled by the increasing prevalence of genetic disorders and rising awareness about the benefits of PGT. Europe is another prominent market for PGT, with countries like the UK, Germany, and France driving market growth.
The United States and China are expected to be key players in the global PGT market, with a high demand for fertility treatments and growing investments in genetic testing technologies. The increasing use of PGT in these countries to reduce the risk of genetic diseases and improve IVF success rates is expected to drive market growth significantly.
In conclusion, the Preimplantation Genetic Testing market is set to experience substantial growth in the coming years, with advancements in technology and increasing awareness about the benefits of PGT driving market expansion. Players in the industry can leverage these market trends to capitalize on the growing demand for advanced genetic testing solutions in the field of assisted reproduction.
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Market Segmentation:
This Preimplantation Genetic Testing Market is further classified into Overview, Deployment, Application, and Region.
In terms of Components, Preimplantation Genetic Testing Market is segmented into:
- Illumina
- Thermo Fisher
- Agilent Technologies
- Perkinelmer
- Coopersurgical
- Abbott Laboratories
- Natera
- Rubicon Genomics
- Oxford Gene Technology
- Yikon Genomics
- Scigene
- Beijing Genomics Institute
- Good Start Genetics
- Invicta Genetics
- Combimatrix
- Genea Limited
- Progenesis
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The Preimplantation Genetic Testing Market Analysis by types is segmented into:
- Preimplantation Genetic Screening
- Preimplantation Genetic Diagnosis
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The Preimplantation Genetic Testing Market Industry Research by Application is segmented into:
- Maternity Centers & Fertility Clinics
- Hospitals, Diagnostic Labs, and Service Providers
- Research Laboratories & Academic Institutes
In terms of Region, the Preimplantation Genetic Testing Market Players available by Region are:
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
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Key Drivers and Barriers in the Preimplantation Genetic Testing Market
Key drivers in the Preimplantation Genetic Testing market include increasing awareness about genetic disorders, growing demand for personalized medicine, advancements in technology, and the rising prevalence of genetic diseases. Barriers in the market include high costs associated with testing, ethical concerns surrounding the selection of embryos, and lack of skilled professionals in some regions.
Challenges faced in the market include regulatory issues surrounding genetic testing, limited accessibility in developing countries, and the need for continuous innovation to improve the accuracy and efficiency of testing procedures. Additionally, the stigma associated with genetic testing and resistance from traditional healthcare systems can hinder market growth.
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Competitive Landscape
Illumina is a leading player in the preimplantation genetic testing market and is known for its innovative genetic testing technologies. The company was founded in 1998 and has since grown to become one of the top providers of genetic testing solutions worldwide. Illumina has experienced significant market growth due to its focus on research and development, as well as strategic partnerships with other healthcare companies.
Thermo Fisher is another key player in the preimplantation genetic testing market, offering a wide range of genetic testing products and services. The company has a strong presence in the market, with a reputation for high-quality and reliable genetic testing solutions. Thermo Fisher has seen steady market growth over the years, thanks to its investment in new technologies and continuous product development.
Abbott Laboratories is also a major player in the preimplantation genetic testing market, with a focus on developing innovative genetic testing solutions for a wide range of healthcare applications. The company has a long history of success in the healthcare industry and has established itself as a trusted provider of genetic testing services. Abbott Laboratories has experienced steady market growth and continues to expand its presence in the genetic testing market.
In terms of sales revenue, Illumina reported a sales revenue of $ billion in 2020, while Thermo Fisher reported sales revenue of $34.6 billion in the same year. Abbott Laboratories reported sales revenue of $34.6 billion in 2020 as well. These companies continue to be strong performers in the preimplantation genetic testing market, driving innovation and growth in the industry.
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