LONDON, Sept. 15, 2016 /PRNewswire/ -- Global preimplantation genetic diagnosisis market expected to reach USD 96.8 million by 2024, according to a new report by Grand View Research, Inc. This expected growth in demand can be ascribed to the growing incidence of inherited single gene associated and late onset genetic disorders.
Ongoing introduction of advancements in in-vitro fertilization (IVF) methods are key factors that have a positive impact on the growth of this market. Incorporation of novel algorithms pertaining to genetic diagnosis using NGS technology are expected to fuel demand in the coming years.
Demand for successful embryo implantation in couples who are detected with certain chromosomal aberrations or fertility problems are also factors anticipated to boost growth in demand over the forecast period.
Further key findings from the study suggest:
Chromosomal abnormalities accounted for over 36% of the revenue generated in 2015. This large share can be attributed to growing usage of PGD techniques for detection of aneuploidies that are observed in higher aged maternal patients. Furthermore, presence of large product portfolio of different market players operating in chromosomal abnormality detection is responsible for large market share of this technique.
Embryo HLA typing for stem cell therapy accounted for over 32% of the revenue generated in the market for 2015. High incidence rate of single gene disorders and late onset hereditary oncology diseases that need to be treated in order to curb the mortality rate are major driver for growth of this segment.
Embryo implantation for treatment of the first child that is inherited with the chromosomal abnormality by the virtue of 'savior sibling' is attributive towards market growth. With expected development of this segment, the market will witness lucrative opportunities of growth over the forecast period.
North America dominated the market in 2015, with revenue estimated at over USD 35 million in 2015. Presence of sophisticated healthcare infrastructure, rising aneuploidy, and infertility rates, favorable government initiatives with respect to genetic diagnosis and its application in IVF are major factors driving growth of this region.
Asia Pacific is expected to witness lucrative growth from 2016 to 2024 due to the availability of cost-effective PGD procedures coupled with rapidly rising healthcare R&D investment, and growing medical expenditures in emerging economies of India and China.
Key participants of the preimplantation genetic diagnosis market include Genesis Genetics, LabCorp, Natera, Quest Diagnostics, Genea, Genzyme Corporation, Reproductive Genetics Institute, and F. Hoffman La Roche Ltd.
These participants are involved in R&D for development of tests that can detect several chromosomal abnormalities using single cell analysis and prevent inheritance of genetic imbalances.
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