Preimplantation Genetic Diagnosis - Saving Offsprings From Any Genetic Disorder
However, owing to the lack of better alternatives to PGD, costs of these procedures remain high, a major limiting factor for the market, especially in cost-sensitive developing countries in the region. A recent report by TMR suggests that the rising preference to assisted reproductive techniques and flourishing medical tourism industry will help the Asia PGD market gain sustained business in the near future.
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Rising Preference for Assisted Reproductive Techniques to be Key Enabler of PGD Market in Asia
Rising preference to assisted reproductive techniques, which involve preimplantation genetic diagnosis as a standard course of action for ensuring that the embryo is free of any genetic anomalies, is central to the healthy growth of the Asia PGD market. The demand for assisted reproductive techniques in the region is driven majorly due to two factors: delayed age of conception among women and the alarmingly rising rate of infertility in the region.
With rising participation in the region’s workforce, a significant number of Asian women are conceiving their babies in late 20s to late 30s. As infertility issues and challenges concerned with conceiving start intensifying as the age rises, couples in the region are increasingly preferring assisted reproductive techniques such as in vitro fertilization.
Rate of infertility in countries such as China and India has substantially increased in the past few years. Xinhua, one of China’s prominent news agencies has stated that around 12.5% of China’s population was infertile in 2010. In India too, around 10% of the population was said to be suffering from infertility in 2013. Considering the total population of over 2.5 bn of these two countries, the number of infertile people in these countries is massive. Thus, the potential for rise in numbers of assisted reproductive techniques and, correspondingly, in the number of PGD tests is massive in Asia.
Southern Asia to Provide Most Attractive Growth Opportunities
Owing to the controversial nature of PGD techniques, they are not offered at all healthcare centers and are banned in entirety or are limited to the scanning of some specific genetic traits only. In most Asian countries where PGD is not prohibited, it is controlled by the regional or national government. The high costs of PGD techniques are also an area of immense concern for certain cost sensitive countries in the region. Combined with liberal regulatory norms and the rising population of high-earning individuals, Southern Asia will emerge as the most lucrative market for preimplantation genetic diagnosis in the next few years.
The PGD market in Southern Asia is expected to rise at a favorable 7.9% CAGR from 2015 to 2023. During the same period, the market for PGD in Central and Western Asia is expected to witness sluggish development owing to lower penetration of advanced technologies in the healthcare industries and stringent guidelines related to PGD tests in the regions.
As a whole, the Asia preimplantation genetic diagnosis market, which had a valuation of US$16.0 mn in 2014, will exhibit a CAGR of 6.8% from 2015 to 2023, and rise to US$28.8 mn by 2023.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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