Advancements in the Real-Time PCR Market: Recent Developments and...

Advancements in the Real-Time PCR Market: Recent Developments and Emerging Opportunities"

Posted 2024-09-16 09:01:24

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The Real-Time PCR (qPCR) Market Size was valued at USD 5.99 billion in 2023 and is projected to grow from USD 6.52 Billion in 2024 to USD 10.8 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5% during the forecast period (2024 - 2032).

The Real-Time PCR market is witnessing remarkable growth, fueled by advancements in molecular biology and diagnostics. Real-Time PCR, also known as quantitative PCR (qPCR), is a powerful technique for the quantification and amplification of nucleic acids. It enables researchers to monitor the amplification of DNA in real-time as the reaction progresses, offering advantages in terms of sensitivity, accuracy, and speed.

Real-Time PCR has revolutionized various fields, including medical diagnostics, biotechnology, and pharmaceuticals. Its applications range from gene expression analysis and mutation detection to viral load quantification and pathogen detection. The versatility and reliability of qPCR make it indispensable in both research and clinical settings.

The increasing demand for personalized medicine, coupled with the rising prevalence of infectious diseases and genetic disorders, is driving the expansion of the Real-Time PCR market. Moreover, technological innovations such as multiplexing and digital PCR are enhancing the capabilities of qPCR systems, further propelling market growth.

Regional Analysis

Based on region, North America is expected to 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 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

The global real-time PCR market players areABL 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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