Preimplantation Genetic Testing Market to Hit Valuation of US$ 1,420 Million by 2032

Through 2032, the preimplantation genetic testing market is anticipated to develop at a CAGR of around 9% and reach a significant market size. Growth opportunities are expanding as a result of the rising prevalence of genetic illnesses.

The market is anticipated to reach US$ 653.52 million by 2022 and will continue to grow, reaching US$ 1,420 million by 2032.

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The biggest benefit offered by preimplantation testing is it offers an opportunity to conceive a pregnancy unaffected by genetic conditions. Researchers and healthcare institutes are trying to find new methods and techniques using the latest technology to minimize various risks associated with preimplantation genetic testing.

Key Highlights

• Global demand for genetic screening to gain 2/3rd market share through 2032.
• Maximum application found in embryo HLA typing for stem cell therapy, yielding 40% revenue.
• North America remains the highest consumer, contributing a CAGR of around 7%
• U.K contributing to the bulk of preimplantation genetic testing market expansion, growing at a CAGR of 8%
• India and China to collectively generate around 60% of demand across Asia through 2032
• NGS is likely to emerge as the most popular technology, surpassing US$ 200 Million in revenue

Competitive Landscape

The global market is highly fragmented with the presence of a large number of local and regional players. Market players are concentrating on product launches to broaden their market footprints.

• In May 2021, United Airlines and Abbott Laboratories announced a collaboration to use Abbott’s BinaxNOW™ COVID-19 Home Test and Abbott’s NAVICA app to help make the international travel experience more seamless.
• In March 2021, Agilent Technologies Inc., entered into a definitive agreement to acquire Resolution Bioscience Inc., a leader in the development and commercialization of next-generation sequencing (NGS)-based precision oncology solutions.
• In June 2021, Thermo Fisher Scientific and First Genetics JCS, a manufacturer of diagnostic equipment and IVD kits intended to advance molecular genetic technologies into clinical practice, today announced a strategic partnership focused on commercializing next-generation sequencing (NGS)–based diagnostics in Russia. The agreement enables First Genetics to market its F-Genetics NGS System and IVD assays to Russian labs for reproductive health testing and cancer diagnostics. The F-Genetics System is based on Thermo Fisher’s Ion GeneStudio S5 System.

Market Titans

• Agilent Technologies Inc.
• Abbott Laboratories
• CooperSurgical Inc.
• Oxford Gene Technology IP
• Illumina Inc.
• Thermo Fisher Scientific Inc.
• PerkinElmer Inc.
• Genea Limited
• Natera Inc.
• Rubicon Genomics Inc.
• CombiMatrix Corporation

Workflow Optimization

• By Test Type: Preimplantation Genetic Diagnostics Preimplantation Genetic Screening
• By End User: Hospitals Diagnostic Labs Research & Academic Institutions Specialized Clinics Preimplantation Genetic Testing by Other End Users
• By Application: Embryo HLA Typing for Stem Cell Therapy IVF Prognosis Late-Onset Genetic Disorders Inherited Genetic Diseases Other Applications
• By Technology: NGS-based Preimplantation Genetic Testing PCR-based Preimplantation Genetic Testing FISH-based Preimplantation Genetic Testing CGH-based Preimplantation Genetic Testing SNP-based Preimplantation Genetic Testing
• By Region: North America Latin America Europe Japan APEJ Middle East Africa

Increasing Prevalence of Genetic Screening across Specialized Clinics to Fuel Global Demand

According to the Centers for Disease Control and Prevention (CDC), chronic ailments such as cancer, heart disorders, and diabetes are the leading cause of disability and death in people across the United States.

Every year, the nation’s healthcare system spends close to US$ 3 billion on direct and indirect expenses. Additionally, it is anticipated that in the upcoming years, market expansion would be aided by healthcare professionals’ growing awareness of the efficacy of genetic testing techniques.

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