Preimplantation Genetic Testing Market worth $1.2 billion by 2028

Preimplantation Genetic Testing Market in terms of revenue was estimated to be worth $0.7 billion in 2023 and is poised to reach $1.2 billion by 2028, growing at a CAGR of 11.4% from 2023 to 2028 according to a new report by MarketsandMarkets™. The growth of this market is majorly driven by the high risk of chromosomal abnormalities with advancing maternal age, and the rising number of fertility clinics. Furthermore, the use of fertility treatment options by single parents and same-sex couples is expected to drive the growth of the preimplantation genetic testing market.

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The preimplantation genetic screening segment is expected to account for the largest share in 2022.

Preimplantation genetic screening, or aneuploidy screening, involves screening embryos for the assessment of aneuploidy. This segment is expected to dominate the global preimplantation genetic testing market during the forecast period, driven by a decrease in female fertility with rising maternal age, better implantation rate and reduced IVF cycle times.

The fertility clinics segment held the largest market share in the preimplantation genetic testing market.

By end user, the global preimplantation genetic testing market is broadly segmented into hospitals, diagnostic labs, fertility clinics, and other end users. The large share of this segment can be attributed to factors such as the increasing number of fertility centers globally, the high success rate of treatment in fertility centers, and growing medical tourism in developing countries.

North America dominates the global preimplantation genetic testing market.

Based on the region, the preimplantation genetic testing market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The North American market is driven by high incidence of chromosomal disorders, and an increasing number of awareness programs. Europe is the second-largest market for the preimplantation genetic testing market due to the low fertility rates and increasing maternal age in the region. Asia Pacific will observe high growth during the forecast period with its growing medical tourism for infertility treatment in the region's countries.

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Preimplantation Genetic Testing Market Dynamics:

Drivers:

Declining fertility rate

Restraints:

Alternative therapies and medications

Opportunities:

Use of fertility treatment options by single parents and same-sex couples

Challenge:

Socioethical concerns surrounding preimplantation genetic testing

Key Market Players of Antibody Drug Conjugates Industry:

Major players in the preimplantation genetic testing market include Illumina, Inc. (US), Thermo Fisher Scientific Inc. (US), Agilent Technologies, Inc. (US), Revvity (US), and The Cooper Companies, Inc. (US).

Recent Developments:

In 2023, Thermo Fisher Scientific Inc. (US) launched two new NGS-based test kits to support preimplantation genetic testing-aneuploidy (PGT-A), commonly used in vitro fertilization (IVF) and intracytoplasmic sperm injection (ICSI) research.

In 2022, The Cooper Companies, Inc. (US) released the addition of Parental QC, Genetic PN check, and Origin of Aneuploidy to PGT-A testing as PGT-Complete.

In 2021, Vitrolife (Sweden) acquired Igenomix (Spain), a leader in reproductive genetic testing services primarily for IVF clinics.

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