by Market Overview
The global Preimplantation Genetic Diagnosis Market is estimated to be valued at US$53.5 million in 2020. It is poised to reach a significant market value of US$ (market value for 2022) million by 2022, registering a CAGR of (given CAGR) over the forecast period. PGD is a cutting-edge technique used during in-vitro fertilization (IVF) procedures to screen embryos for genetic disorders before implantation, thereby reducing the risk of genetic diseases and improving the chances of a successful pregnancy.
This advanced genetic testing technology has revolutionized the field of reproductive medicine by empowering couples to make informed decisions regarding their family planning. With the increasing prevalence of genetic disorders and the growing demand for healthy babies, the need for PGD has become essential in the field of assisted reproductive technology.
Market Key Trends
One of the key trends in the PGD market is the growing adoption of genetic testing for disease prevention. With the advancements in genetic testing techniques, PGD offers reliable results in identifying potential risks of genetic disorders in embryos. This enables couples to make informed decisions about using only healthy embryos for implantation, reducing the risk of passing on genetic diseases to their children. For instance, PGD is commonly used to screen for chromosomal abnormalities such as Down syndrome, cystic fibrosis, and Huntington’s disease.
The increasing trend of delayed parenthood and the rise in infertility cases due to genetic factors are also contributing to the market growth. Couples are opting for PGD to improve their chances of successful pregnancy and avoid the emotional and financial burden associated with failed IVF attempts or the birth of a child with a genetic disorder.
Porter’s Analysis
– Threat of New Entrants: The high level of technological expertise required to perform PGD procedures acts as a barrier to new entrants. Established players have already acquired significant experience and have built a strong reputation in the market, making it challenging for new players to compete effectively.
– Bargaining Power of Buyers: As the demand for PGD services continues to rise, the bargaining power of buyers remains limited. Couples seeking fertility treatments are inclined to accept the prevailing market rates, given the potential benefits of PGD in ensuring the health of their future children.
– Bargaining Power of Suppliers: Suppliers of equipment and reagents used in PGD hold a moderate bargaining power. However, as the market is driven by the need for accurate and technologically advanced testing solutions, suppliers are motivated to provide competitive pricing and reliable products to maintain their market position.
– Threat of New Substitutes: Although there are alternative genetic testing methods available in the market, such as prenatal screening, PGD offers superior accuracy and greater control in selecting healthy embryos for implantation. This limits the threat of substitutes in the market.
– Competitive Rivalry: The PGD market is highly competitive, with established players such as Amgen, Quest Diagnostics, Genentech Inc., and PerkinElmer, Inc. leading the market. These companies invest heavily in research and development to innovate and improve the efficiency of PGD procedures. The competitive rivalry among key players is intense, driving further advancements in technology and expanding the market.
Key Takeaways
– The global PGD market is projected to witness significant growth, with a CAGR of (given CAGR) over the forecast period. The increasing awareness of genetic disorders and the desire for healthy babies among couples are the key drivers.
– North America is expected to dominate the market due to a favorable healthcare infrastructure, increasing adoption of advanced fertility treatments, and higher healthcare expenditure.
– Key players operating in the global PGD market include Amgen, Quest Diagnostics, Genentech Inc., Vertex, PerkinElmer, Inc., F. Hoffman-La-Roche Ltd, Thermo Fisher Scientific, Inc., Laboratory Corporation of America Holdings, Abbott Laboratories, Illumina, Inc., Natera Inc., CooperGenomics Inc., Reproductive Genetics Institute, Inc., Genea Ltd., Invitae Corporation, and CombiMatrix Corporation.
In conclusion, the Preimplantation Genetic Diagnosis market is witnessing remarkable growth due to the increasing awareness and demand for healthy babies. PGD has revolutionized the field of reproductive medicine by empowering couples to make informed decisions about their family planning. The market is characterized by technological advancements, intense competition, and the dominance of key players. With the potential to prevent the transmission of genetic disorders, PGD is set to unlock new possibilities in the field of genetic testing, offering hope for a healthier future generation.
