The market for preimplantation genetic testing (PGT) has emerged as a key participant in reproductive health and assisted reproduction technologies. During the period between 2024 and 2032, the PGT market is anticipated to expand at a CAGR of 7.5%. The market for preimplantation genetic testing (PGT) is propelled by technological advances in genetic testing, increasing maternal age, and raising awareness. However, ethical and regulatory obstacles pose significant limitations. In the coming years, the industry is poised for substantial development as it continues to navigate these challenges and seize opportunities.
By 2023, the market for PGT will have witnessed significant advances in genetic testing techniques. The accuracy and precision of genetic testing have been enhanced by advancements in Next-Generation Sequencing (NGS) and Single-Nucleotide Polymorphism (SNP) array technologies. Such advancements have increased the use of PGT, which provides couples with a comprehensive comprehension of the genetic health of their embryos. Studies, research articles, and technological reports support this driver.
Infertility rates have increased due to the fact that more women are choosing to establish families later in life, as a result of demographic shifts. There is a correlation between advanced maternal age and an increased risk of chromosomal abnormalities in embryos. Consequently, couples and individuals are turning to PGT to enhance in vitro fertilization (IVF) success rates. This is supported by official healthcare statistics and research studies.
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In recent years, there has been an increase in public awareness and acceptance of preimplantation genetic testing (PGT) as a viable method of family planning. PGT services are offered by an increasing number of fertility clinics and healthcare providers. Numerous awareness campaigns and education initiatives had a positive effect on the market in 2023 due to their influence. This driver is supported by patient testimonials, media coverage, and information on the proliferation of PGT clinics.
Due to ethical and regulatory challenges, the PGT market faces significant restraints. The moral and ethical dilemmas associated with PGT, such as embryo selection based on non-medical characteristics, continue to exist despite the expanding technological possibilities. In addition, the industry must contend with varying regulatory frameworks in various nations, which can hinder market expansion. Reports on ethical debates and regulatory obstacles demonstrate this moderation.
Preimplantation Genetic Diagnosis (PGD) and Preimplantation Genetic Screening (PGS) are the two procedures that dominate the segmentation of the PGT market. PGS will dominate the market in 2023 as a result of its expanded applications in identifying chromosomal abnormalities, thereby increasing IVF success rates. However, PGD is anticipated to experience the highest CAGR between 2024 and 2032, driven by the rising demand for the identification of single-gene disorders.
In addition to Reagents and Consumables, Instruments, and Software, the market is subdivided based on product offerings. In 2023, the greatest revenue segment was Reagents and Consumables, which are essential for genetic testing procedures. As a result of its central function in data analysis and interpretation, Software is expected to exhibit the highest CAGR during the forecast period of 2024 to 2032.
North America dominated the PGT market in 2023, predominantly due to its advanced healthcare infrastructure and high adoption of assisted reproductive technologies. However, Asia-Pacific is anticipated to experience the highest CAGR between 2024 and 2032, driven by rising infertility rates and increased awareness of PGT services in countries such as China and India.
Illumina, Thermo Fisher Scientific, Agilent Technologies, CooperSurgical, Natera, Quest Diagnostics Incorporated, Genea Pty Limited., Invitae Corporation, Laboratory Corporation of America Holdings, Bioarray S.L., Igenomix, RGI and F. Hoffmann-La Roche Ltd, among others, are key participants on the PGT market. These industry executives are focused on expanding their product lines, enhancing the precision of genetic testing, and obtaining regulatory approvals for their products. These companies' product introductions, partnerships, and mergers characterize the competitive trends.
