May 24, 2022 09:00 ET | Source: Fior Markets Fior Markets
Newark, NJ , May 24, 2022 (GLOBE NEWSWIRE) -- As per the report published by MarketQuest.biz, the global preimplantation genetic screening (PGS) technology market is expected to grow from USD 86.81 million in 2021 to USD 160.67 million by 2030, at a CAGR of 7.08% during the forecast period 2022-2030.
With the rising maternal age, genetic abnormalities in newborn babies are rising due to various medical and biological factors. The fertility rate is also reducing due to hormonal and other clinical conditions in women. Technological advancements, medical research, and innovation have led to the development of new methods, techniques, and medications to improve the fertility rate. The increased funding from the government to improve the healthcare infrastructure is also a positive development that will drive the preimplantation genetic screening (PGS) technology market. The rise in the number of fertility clinics in collaboration with private players is also driving the PGS market. The rising awareness about the availability of PGS and its benefits in the population will provide prospective opportunities for the future. The growing number of fertility clinics in developing economies has increased the accessibility for consumers and hence will drive the PGS technology market in the forecast period. The whole preimplantation genetic screening process is a sophisticated technique that involves using expensive machinery operated by skilled professionals making the entire procedure a costly affair. The high cost of PGS technology could hamper the growth of the market. To avoid illegal procedures and other immoral practices, governments have stringent regulatory guidelines in place, which could potentially challenge the market. Proper implementation of these guidelines will improve the compliance rate of the institutions and increase the confidence of consumers in them, providing an impetus to the growth of the PGS technology market.
To enhance their market position in the global preimplantation genetic screening (PGS) technology market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
Get Sample Copy with TOC, Graphs & List of Figures @ https://www.marketquest.biz/sample-request/126020
The rise in neonatal deaths due to pneumonia, asthma, and other respiratory disorders has led to an increase in supportive government initiatives that encourage parents to undergo such screening or testing. For example, the Swiss government has allowed preimplantation genetic diagnosis of an in-vitro embryo. Such programs aim to discover and minimize congenital abnormalities in embryos before implantation. Also, the rise in literacy rate has increased awareness about the benefits of these testing and screening processes, which help detect and rectify any anomalies in the early stages before they become malignant. Improved healthcare infrastructure contributes to the development of the PGS technology market as increased funds from government and private institutions aid the healthcare institutions in acquiring sophisticated state-of-the-art technology for genetic testing and screening.
The type segment is divided into next-generation sequencing, polymerase chain reaction, fluorescence in situ hybridization, comparative genomic hybridization, and single-nucleotide polymorphism. In 2021, the next-generation sequencing segment dominated the market with the largest market share of 36% and market revenue of 31.25 million.
The application segment is divided into maternity centers & fertility clinics, hospitals, research laboratories & academic institutes, & others. In 2021, the maternity centers & fertility clinics segment accounted for the largest share of the market, with 42% and market revenue of 36.46 million.
Regional Segment Analysis of the Preimplantation Genetic Screening (PGS) Technology Market
Among all regions, the North American region emerged as the largest market for the global preimplantation genetic screening (PGS) technology market, with a market share of around 34% and 29.51 million of the market revenue in 2021. The Asia Pacific is expected to be the fastest-growing market during the forecast period. The preimplantation genetic screening (PGS) technology market in the Asia Pacific has expanded rapidly. The rising awareness about the benefits of preimplantation genetic testing and supportive government initiatives are driving the growth of the Asia Pacific PGS market.
To Know More Additional Highlights and Key Points visit our report @ https://www.marketquest.biz/report/126020/global-preimplantation-genetic-screening-pgs-technology-market-2022-by-company-regions-type-and-application-forecast-to-2028
Key players operating in the global preimplantation genetic screening (PGS) technology market are:
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Market Quest has segmented the global preimplantation genetic screening (PGS) technology market based on the below-mentioned segments:
Global Preimplantation Genetic Screening (PGS) Technology Market by Type:
Global Preimplantation Genetic Screening (PGS) Technology Market by Application:
To Purchase Research Report @ https://www.marketquest.biz/buy-now/126020/single
The global preimplantation genetic screening (PGS) technology market is analyzed based on value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
Avinash D Head of Business Development Phone: 1-201-465-4211 Email: sales@marketquest.biz Web: www.marketquest.biz