Preimplantation Genetic Diagnosis Market Estimated To Witness High Growth Owing To Rising11/29/2023 The 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.
The Preimplantation Genetic Diagnosis Market is a medical procedure that involves genetic screening of embryos before implantation. During In vitro fertilization (IVF), one or two cells are removed from embryos that are between 3-5 days old and are analysed for any abnormalities. This helps identify embryos unaffected by genetic defects and hereditary diseases and increase the chances of having a healthy baby. Market Overview: Preimplantation genetic diagnosis (PGD) is a procedure mainly done to detect genetic defects in embryos before implantation and pregnancy. PGD identifies genetic defects related to single-gene disorders such as cystic fibrosis and muscle dystrophy. It also detects chromosomal abnormalities like Down syndrome, Turner syndrome, Klinefelter syndrome. PGD can test for more than 1000 genetic conditions. PGD helps couples avoid passing serious inherited diseases to their children. Market key trends: The rising cases of genetic abnormalities like Down syndrome, Turner syndrome and increasing number of fertility clinics are boosting the Preimplantation Genetic Diagnosis Market growth. Furthermore, growing popularity of IVF treatment and rising usage of PGD to screen embryos before implantation is propelling the market. Advancements in genetic diagnosis technologies like next-generation sequencing, polymerase chain reaction, and fluorescence in situ hybridization have made PGD more efficient and reliable. This has increased its acceptance among infertile couples of advanced maternal age, who have higher risks of conceiving babies with genetic disorders. Increasing awareness about PGD benefits through social media and government initiatives is catalyzing the Preimplantation Genetic Diagnosis Market expansion. Porter's Analysis Threat of new entrants: The threat of new entrants is moderate in the preimplantation genetic diagnosis market. The substantial costs involved in R&D, licensing, distribution and marketing for PGD technologies pose significant barriers for new market players. Bargaining power of buyers: The bargaining power of buyers is moderate. The availability of alternative treatment options like IVF acts as a bargaining lever for buyers. However, critical nature of PGD procedures reduces buyer options to some extent. Bargaining power of suppliers: The bargaining power of suppliers is low to moderate. The key raw material and technologies required are patented by few major players globally. However, the possibility of backward integration by buyers curtails suppliers’ dominance. Threat of new substitutes: Threat of new substitutes is low given the unique value proposition of PGD in diagnosing genetic disorders very early. Alternative diagnostics like amniocentesis offer detection at a relatively later stage of pregnancy. Competitive rivalry: Competitive rivalry is high owing to presence of large global players and intensifying competition in technology upgradation. SWOT Analysis Strengths: High accuracy of PGD procedures. Growing prevalence of genetic disorders and demand for advanced infertility treatment options. Weaknesses: Heavy R&D investments required. Ethical concerns related to embryo testing may restrict market growth in some regions. Opportunities: Increasing awareness about genetic counseling. Expansion opportunities in emerging markets. Development of new screening technologies for wider range of diseases. Threats: Stringent regulatory framework. Risks of procedure failure or misdiagnosis during tests. Patent expiries of key technologies. 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 among infants and rising awareness about PGD benefits. By region, North America is expected to dominate the global PGD market through 2030. This is attributed to the availability of advanced healthcare facilities and expertise in the US and Canada. Asia Pacific is anticipated to be the fastest growing market due to rising healthcare expenditure, surging infertility rates, and growing medical tourism in countries like India and China. 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. Top players are focusing on new product launches and geographical expansions to garner market share. Read More, https://www.newsstatix.com/preimplantation-genetic-diagnosis-market-trends-size-and-share-analysis/
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