Preimplantation Genetic Testing Market Trends

Growth Drivers

• Growing Cases of Neo-Natal Deaths - Many neo-natal deaths are associated with the genetic deformity. Therefore, it is likely to boost market growth. According to the UNICEF, worldwide, 6,400 newborn deaths occurred per day in 2021, totaling 2.3 million infant deaths in the first month of life. Also, in 2021, there were an average of 18 deaths per 1,000 live births worldwide, making the first month of life the most dangerous for children.
• Rising Prevalence of Congenital Genetic Diseases - Preimplantation genetic diagnosis enables early detection of faulty chromosomes and helps in preventing congenital genetic deformity in unborn babies. According to the World Health Organization, every year, congenital diseases are considered to be the root cause of 240 000 newborn deaths globally that occur within 28 days of birth. An additional 170 000 children under the age of five die from congenital diseases each year.
• Rise in the Number of Women at a Reproductive Age - Preimplantation genetic testing is used for checking chromizing during pregnancy, therefore increasing share of women at reproductive age is expected to increase the pregnancy cases and consequently the use genetic testing. According to the most recent expenditure data, global health spending has grown over the past 20 years, doubling in real terms to reach USD 8.5 trillion in 2019 and 9.8% of GDP, up from 8.5 percent in 2000. It is predicted that this boom would continue over the forecast period.
• Growing Use of In-Vitro Fertilization - Preimplantation genetic testing (PGT) checks embryos created by in vitro fertilization (IVF) for a variety of genetic issues that could result in implantation failure, miscarriage, and birth abnormalities in the offspring. According to recent projections, nearly 400 million people, or approximately 3% of the global population, may be living by the year 2100 as a result of IVF and other fertility procedures.
• Number of People Living with Genetic Disorders - Monogenic preimplantation genetic testing is used to check for a particular genetic pathogenic variant linked to a family history of a certain disease. In the world, around 5000–8000 rare diseases have been identified, affecting up to 6–8% of the population. An estimated 40% of uncommon disorders are caused by genetic factors.

Challenges

• Moral Stigma Associated with the Treatment- Few people also recognize preimplantation genetic testing as morally repugnant owing to its intention to create and destroy human embryos in an unnatural manner. There have been orthodox beliefs attached to it, involvement of the treatment interferes with god’s natural creation and everything should not be altered with the interference of science. This element is also anticipated to limit preimplantation genetic testing market expansion.
• Lack of Skilled Researchers and Physicians
• Public Companies are Subjected to Strict Judicial Rules