Real-Time PCR Market Share, Competitive Analysis, Research...

Real-Time PCR Market Share, Competitive Analysis, Research Methodology, Rapid Growth and Fast Forward Research till 2030

Posted 2023-04-25 08:45:52

The Real-Time PCR (qPCR) Market Size was valued at USD 5.5 billion in 2022. The Real-Time PCR (qPCR) market industry is projected to grow from USD 5.99 Billion in 2023 to USD 10.00 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.12% during the forecast period (2023 - 2030).

The Real-Time PCR (qPCR) Market Outlook and Analysis by Product (Reagents & Consumables, Instruments, Software & Services), Application (Clinical, Research, and Forensics), End User (Hospitals &Diagnostic Centers, Research Laboratories & Academic Institutes, Pharmaceutical & Biotechnology Companies, Clinical Research Organizations, and Forensic Laboratories) - Forecast till 2027

The global real-time PCR market is driven by continued efforts by PCR manufacturers to develop novel kits and systems to be used in molecular diagnostic testing. For example, in January 2019, Qiagen N.V.(Germany) developed next-generation qPCR systems, which were launched in April 2020. The new system isprojected to offer highly automated workflowand quick turnaround time. This factor is likely to provide a significant competitive advantage to the company, fueling the overall market growth of Real-time PCR (qPCR).

Severalglobal and local market players dominate the global real-time PCR (qPCR) market, contributing to a substantial market share. The prominent players are engaged in organic and inorganic strategies such asagreements, new product development & launches, and approval from government authorities, joint ventures, mergers & acquisitions, and partnerships to sustaintheir market positions.For instance, in October 2017, AOAC International (US), independent standards developing organization certified Bio-Rad Laboratories (US) iQ-Check Real-time PCR (qPCR) Kit as the Official Method of Analysis for Salmonella species identification in raw meat. Such recognition to the company is anticipated to boost the market growth.

Regional Analysis

Based on region, North America is expectedto dominate the global real-time PCR (qPCR) market in 2020 due to the rising adoption of novel and innovative genomic analysis products and the availability of R&D grants.

The high prevalence of chronic & infectious diseases coupled with increasing awareness among patients about early diagnosis of diseases is propelling the market growth.

Europe is expected to hold the second-largest position in the global real-time PCR (qPCR) market in 2021. Key factors attributing to the market growth are increasing adoption of real-time PCR (qPCR) to diagnose and estimate disease-causing microbes, with increasing product availability forconsumers.

Furthermore, the growth in the rest of the world real-time PCR (qPCR) market is attributed to the technological product advancements and high penetration of advanced healthcare technologies in research organizations focused on adopting real-time PCR (qPCR) as a testing methodin Saudi Arabia, the UAE, and the other Middle Eastern and African countries. Developing countries such as Brazil, Colombia, and Argentina, among others in Latin America, are also key contributors to the growth of the market.

Segmentation

The global real-time PCR (qPCR) market share has been segmented into type, product, source, and application.

By product, the market has been segregated into reagents & consumables, instruments, and software & services. The reagents & consumables segment is expected to hold a considerable share of the market in 2021. Increasing adoption of reagents and consumables

Based on application,the real-time PCR (qPCR)market is classified into clinical, research, forensics, and others. The clinical segment held the largest market share in 2020. Some of the key factors attributing to the market growth include the increasing adoption of Real-time PCR (qPCR) to diagnose and estimate disease-causing microbes and other clinical ailments.

On the basis of the end user,the real-time PCR (qPCR) market is segmented into hospitals & diagnostic centers, research laboratories & academic institutes, pharmaceutical & biotechnology companies, clinical research organizations, and forensic laboratories. The research laboratories & academic institutes segment accounted for the major share in 2020 among the end user segment of the global real-time PCR (qPCR) market due tothe increasing number of research laboratories and rising application of Real-time PCR (qPCR) in sectors such as stem cell research and genetic disease and oncology research.

Key Players

Some of the key players in the global real-time PCR (qPCR)marketareABL SA Group (Luxembourg), Agilent Technologies, Inc. (US), Analytik Jena AG (Germany), BD (US), Bio-Rad Laboratories, Inc. (US), F. Hoffmann-La Roche Ltd (Switzerland), Fluidigm Corporation (US), Lumex Instruments (US), Primerdesign Ltd (UK), QIAGEN (Germany), Takara Bio Inc. (Japan), Thermo Fisher Scientific (US), TOYOBO Inc. (Japan), and Vela Diagnostics (Singapore).

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