After an evaluation period spanning 2022–2032, the global preimplantation genetic testing market is anticipated to expand at an astounding 9% value CAGR, reaching US$ 1,420 million. According to a recently released Fact.MR analysis on this sector, a valuation of US$ 653.52 million has been projected for FY 2022.
The demand for preimplantation genetic testing increased at an 8% annual pace between 2017 and 2021, reaching US$ 599.53 million. Growth potential have increased as a result of a growing number of persons with hereditary illnesses brought on by changing lifestyles.
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The ability to have a child free from genetic disorders is the greatest advantage of preimplantation testing. Using the newest technologies, researchers and medical institutions are looking for innovative ways to reduce the hazards connected with preimplantation genetic testing.
How Important is Growth in the Preimplantation Genetic Testing Market for Start-ups?
With significant growth in the genome treatment sector, emerging start-ups are striving to offer advanced testing services for preimplantation genetic diagnosis (PGD), mutation screening, and prenatal testing. These initiatives are expected to boost global adoption of genetic testing across various applications.
For example, in June 2022, Natera, Inc., a leading provider of cell-free DNA testing, announced at the Canaccord Genuity 42nd Annual Growth Conference that it had filed a pre-submission with the FDA for its Panorama® non-invasive prenatal test (NIPT). This submission, part of the Q-Sub process, covers testing for fetal chromosomal aneuploidies and 22q11.2 deletion syndrome.
Additionally, Progenity, another key start-up, is expanding non-invasive testing options. Its diagnostic platform integrates genomics, epigenomics, proteomics, and metabolomics, reflecting the increasing role of start-ups in advancing genetic testing technologies.
Demand Outlook for Preimplantation Genetic Testing in the U.K.
The U.K. is expected to lead the preimplantation genetic testing market in Europe, with Fact.MR projecting a CAGR of approximately 8% during the forecast period. In 2021, demand surged due to the presence of numerous healthcare institutions and hospitals offering these services, alongside heightened public awareness driven by government initiatives.
The growing incidence of genetic disorders is a key factor boosting genetic testing in the U.K. According to Genetic Alliance, at least 1 in 25 children is affected by a genetic condition, resulting in around 30,000 new diagnoses annually. Over 500 million children and adults currently live with a genetic disorder.
These factors are anticipated to fuel market expansion through 2032, solidifying the U.K.’s position as a key market for preimplantation genetic testing.
In May 2021, United Airlines and Abbott Laboratories formed a partnership to enhance the international travel experience by utilizing Abbott’s BinaxNOW™ COVID-19 Home Test and NAVICA app. This collaboration aimed to streamline the travel process by offering more convenient and accessible testing solutions.
In March 2021, Agilent Technologies Inc. reached a definitive agreement to acquire Resolution Bioscience Inc., a company specializing in the development and commercialization of next-generation sequencing (NGS)-based precision oncology solutions. This acquisition bolstered Agilent’s position in the precision medicine market.
In June 2021, Thermo Fisher Scientific and First Genetics JCS entered a strategic alliance to advance molecular genetic technologies in clinical settings. This partnership focused on commercializing next-generation sequencing (NGS)-based diagnostics in Russia, allowing First Genetics to promote its F-Genetics NGS System and IVD assays to Russian laboratories for reproductive health testing and cancer diagnostics. The F-Genetics System leverages Thermo Fisher's Ion GeneStudio S5 System.
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