Preimplantation genetic testing is a technique which is utilized in identification of genetic defects in embryos created through in Vitro fertilization before pregnancy. The testing is done when one or both genetic parents have a known genetic abnormality. Therefore, such test is performed on embryo to identify or determine any genetic abnormality or disorders. Preimplantation genetic testing helps people to ignore the hereditary disorders that prevail in the family to be carried into the baby. Because of such favourable offering of preimplantation genetic diagnosis people over the world are adopting such tests, hence increasing awareness among people regarding preimplantation genetic diagnosis coupled with rising incidence of new-born baby with genetic disorders across the world drives the expansion of market over the forecast years.
According to the study, ‘Global Preimplantation Genetic Diagnosis Market is valued approximately USD 407.04 Million in 2019 and is anticipated to grow with a healthy growth rate of more than 10% over the forecast period 2019-2026’ categorical that there square measure some corporate that presently functioning many with success for dominant the prime effective growth of the market and getting the productive competitive edge whereas acceptive the productive profit making ways in during which policies like joint ventures, partnership, merger, mergers and acquisitions and merchandise includes Hoffmann-La Roche AG, Genea Limited, Reprogenetics, LLC., PerkinElmer, Inc, Illumina, Inc, Reproductive Genetics Innovations LLC., Genesis Genetics Ltd, Natera, Inc, Quest Diagnostics Inc.. For instance: According to the Global Genes Organization which is a non-profit organization, aimed towards promoting requires of the rare disease’s community, there are nearly 7000 distinct rare diseases and genetic or rare diseases affect nearly 350 million people across the globe. Moreover, according to the National Institutes of Health (NIH), about 50% of population affected by rare diseases is children. In Addition, rising number of fertility clinics worldwide are the factors driving the growth of market over the upcoming years. However, high Procedural cost associated with preimplantation genetic testing is the factor hampers the growth of market.
The regional investigation of global Preimplantation Genetic Diagnosis market is taken into the account for the key regions like Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is that the most region over the world in terms of market share owing to the rising technological advance in the field of genetic analysis in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate over the forecast period 2020-2026. Factors like presence of high risk of Chromosomal Abnormalities with advancing maternal age would create lucrative growth prospects for the Preimplantation Genetic Diagnosis market across Asia-Pacific region.
Furthermore, rising incidence single gene, mitochondrial, and other gene-related disorders, is attributed to increasing demand for preimplantation diagnosis and screening processes. As per the estimates made by the Florida Department of Health, about one in every 28 babies is diagnosed with a birth defect in Florida in every year. Preimplantation Genetic Diagnosis (PGD) is implemented prior to IVF workflow for good pregnancy. PGD is applicable in IVF cycles of women who faced many miscarriages or had last pregnancy with a chromosome abnormality. PGD can advantage the couples who are at risk of hereditary disorders, positively increasing the market. Thus, the global preimplantation genetic diagnosis market will increase in coming years.
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Ankur Gupta, Head Marketing & Communications