(Health-NewsWire.Net, March 08, 2019 ) According to the new market research report "Preimplantation Genetic Testing Market by Type (Genetic Diagnosis/Genetic Screening), Technology (NGS, PCR, FISH, CGH, SNP), Products & Services, Application (Aneuploidy, Translocations), End User (Fertility Clinics, Research) - Forecast to 2022", The global preimplantation genetic testing market is projected to reach USD 541.8 Million by 2022 from USD 336.4 Million in 2017, at a CAGR of 10.0%.
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Factors such as the growing rate of infertility across the globe, increasing public-private investments in the field of preimplantation genetic testing, rising number of fertility clinics worldwide, technological advancements in the field of genetic analysis, and high risk of chromosomal abnormalities in the fetus with increasing maternal age are driving the growth of this market.
The preimplantation genetic screening segment accounted for the largest share of the market in 2016
By type, the preimplantation genetic screening segment accounted for the largest share of the market. The large share of this segment can primarily be attributed to the decrease in female fertility (due to rising maternal age), increasing prevalence of genetic disorders in offspring, and benefits of PGS, such as increased chances of healthy pregnancy across all age groups, better implantation rate, reduced risks of miscarriage, reduced IVF cycle time, and comprehensive analysis of all 24 chromosome types.
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By application, the aneuploidy segment is expected to be the fastest growing segment in the forecast period
The aneuploidy segment is expected to grow at the fastest CAGR. Growth of this segment can be attributed to the increasing maternal age, rising incidence of aneuploidy disorders, and strategic initiatives by key players to provide technologically advanced PGS products for aneuploidy screening. Aneuploidy screening has been reported to increase the chance of successful embryo implantation, decreases miscarriage rate, and reduce the chance of having a child with a chromosome abnormality).
North America dominated the market in 2016
Geographically, the preimplantation genetic testing market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the largest share of the market in 2016, followed by Europe. Rising number of IVF procedures (with decreasing fertility rates), significant adoption of genomic techniques, ongoing trend of replacing traditional genomic technologies with advanced and innovative genetic techniques (such as FISH and NGS), and increasing private-public funding to develop and commercialize novel PGS & PGD procedures are the key factors that account for the larger share of the preimplantation genetic testing market in North America.
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As of 2016, the major product manufacturers operating in the global market included Illumina, Inc. (U.S.), CooperSurgical, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Agilent Technologies, Inc. (U.S.), PerkinElmer, Inc. (U.S.), Abbott Laboratories (U.S.), Natera, Inc. (U.S.), Rubicon Genomics, Inc. (U.S.), Oxford Gene Technology (U.K.), Yikon Genomics (China), and SciGene Corporation (U.S.), among others. Moreover, as of 2016, major service providers active in the global market included Beijing Genomics Institute (BGI) (China), Good Start Genetics (U.S.), CombiMatrix Corporation (U.S.), Genea Limited (Australia), Invicta Genetics (Poland), and Progenesis (U.S.).
Mr. Shelly Singh