Real Time PCR Market to Grow with a CAGR of 4.56% through 2028
Rising incidences of genetic disorders and rising demand for
personalized medicines is expected to drive the Global Real Time PCR Market
growth in the forecast period, 2024-2028.
According to TechSci Research report, “Real Time
PCR Market – Global Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”, the Global Real Time PCR Market stood at USD 4.33 billion in 2022 and is anticipated to grow with a CAGR of 4.56% in the forecast
period, 2024-2028. The market growth is being driven by an increase in the
incidence of infectious diseases and genetic disorders.
This is further fueled by the rise in the number of
diagnostic centers and hospitals, which are catering to the growing demand for
healthcare services. Moreover, there is a notable surge in public-private
investments aimed at raising awareness about illness diagnostics. Additionally,
the introduction of technologically sophisticated products is playing a
significant role in propelling the Global Real-Time PCR market forward.
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The key drivers of growth are anticipated to be the
increased prevalence of target diseases and rapid technological advancements,
such as high-performance development and advanced qPCR systems. According to
the World Health Organization (WHO), cancer was among the leading causes of
death globally in 2018, accounting for 9.6 million deaths. In 2017, WHO
reported that 36.9 million people were affected by HIV infection. Infectious
diseases were also identified as one of the primary causes of death worldwide
in 2016. The incidence of these diseases is projected to rise, positioning them
as potential market leaders.PCR manufacturers are actively striving to develop
novel systems and kits for molecular testing. For instance, in January 2019,
QIAGEN N.V. announced its plans to launch next generation dPCR systems by 2020,
which are expected to offer highly automated workflows and faster turnaround
times compared to current digital PCR platforms. This technological advancement
is likely to provide a significant competitive advantage for the company.
Moreover, the broad range of applications is expected
to drive the adoption of qPCR technologies across various scientific
disciplines. These technologies find extensive use in both basic and diagnostic
research, including human genetic testing, forensic research, pathogen
detection, and testing for infectious diseases. The market is also anticipated
to expand its application in areas such as food microbiology and the veterinary
industry.The increasing incidence of genetic disorders and major infectious
diseases, growing utilization of biomarker profiling for disease diagnostics,
and successful implementation of the Human Genome Project are the primary
factors driving the demand for technologically advanced PCR tests in the
forecast period. Substantial technological breakthroughs, increased
investments, funding, and grants are expected to further boost the demand for
real PCR in various applications.
The Global Real-Time PCR Market is predicted to be
driven by an upsurge in the incidence of infectious diseases and genetic
disorders, as well as an increase in the number of diagnostic centers and
hospitals. The use of genomic analysis tools in diagnosing major infectious
diseases (such as HIV, TB, malaria, and hepatitis) and genetic abnormalities,
including cancer, has witnessed significant growth over the past decade. The
rising global prevalence of target diseases, combined with the proven efficacy of
qPCR in diagnosing and estimating disease-causing microorganisms, will propel
the adoption of clinical diagnostic tests (including qPCR and dPCR analysis)
and drive market expansion.
The expansion of healthcare infrastructure, increased
healthcare expenditures, and reduced procedural costs for qPCR-based illness
diagnostics are all contributing to the progress of these markets. The growing
healthcare infrastructure in emerging countries is accompanied by rapid
advancements in healthcare facilities, leading to increased demand for clinical
diagnostic procedures in diagnostic laboratories and higher sales of clinical
qPCR and dPCR products. Furthermore, public-private investments to raise
awareness about illness diagnostics and the introduction of technologically
sophisticated products are propelling the Global Real-Time PCR Market forward.
The Global Real Time PCR Market is segmented into product,
application, end user, regional distribution, and company.Based on product, the
consumables and reagents segment dominated the revenue share in 2022, primarily
due to the increased demand for early disease detection. This surge in demand
can be attributed to the rising awareness about the importance of early
diagnosis and the need for accurate and reliable testing methods. Numerous
reputable companies manufacturing PCR consumables and reagents have played a
significant role in meeting this demand, leveraging their expertise and
advanced manufacturing capabilities. Moreover, the extensive utilization of
consumables and reagents in various sectors, including healthcare, research,
and diagnostics, has further bolstered the segment's significant market share. Additionally,
the segment is projected to maintain its leading position throughout the
forecast period, driven by a combination of factors. Firstly, the escalating
prevalence of chronic conditions, such as cancer, cardiovascular diseases, and
infectious diseases, has increased the demand for reliable and efficient
diagnostic tools, including PCR technology. As PCR offers high sensitivity,
specificity, and accuracy, it has become an indispensable tool for disease
detection and monitoring.
Furthermore, the pharmaceutical and healthcare
industries' increasing acceptance of technological advancements and intensified
research and development activities have fueled the demand for consumables and
reagents. As these industries strive to develop innovative therapies,
personalized medicine, and targeted treatments, the need for precise and
reliable testing methods becomes paramount. PCR consumables and reagents play a
crucial role in supporting these advances by enabling accurate DNA amplification
and analysis.
Based on region, North America segment is expected to
grow during the forecast period. - North America dominated the global
market with a significant revenue share in 2022 and is expected to maintain its
leading position during the forecast period. This can be attributed to the
presence of favorable regulations and various government initiatives aimed at
developing healthcare infrastructure in the region. Additionally, the high
prevalence of diseases in North America has created a pressing need for
advanced diagnostic solutions. Moreover, the strong presence of prominent
manufacturers and an increasing demand for rapid diagnostic tests further
contribute to the growth of the North American market throughout the forecast
period.
The Asia Pacific region, on the other hand, emerges as
the most lucrative market, driven by notable advancements in PCR technology
integration by countries like China and Japan. These advancements have
significantly improved the accuracy and efficiency of diagnostic tests, leading
to better patient outcomes. Furthermore, emerging economies such as India and
Australia have witnessed remarkable growth in healthcare, research and
development (R&D), and clinical development frameworks. This not only strengthens
the overall healthcare infrastructure but also creates a conducive environment
for the adoption of advanced diagnostic technologies. Collectively, these
factors position the Asia Pacific market to experience substantial growth
opportunities throughout the forecast period.
Major companies operating in
Global Real Time PCR Market are:
- Thermo
Fisher Scientific, Inc.
- Bio-Rad
Laboratories, Inc.
- F.
Hoffman-La Roche Ltd.
- Abbott
Laboratories Inc.
- Agilent
Technologies, Inc.
- Becton
Dickinson and Company
- Enzo
Life Sciences, Inc.
- Promega
Corporation
- Biomérieux
S.A.
- Cole-Parmer
Instrument Company Llc
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“The growth of the real time polymerase chain reaction
(PCR) market is driven by several key factors. These include its increasing
application in clinical diagnostics, the growing demand for personalized and
precision medicine, and the continuous advancements in technology and its applications
in drug development. Moreover, the field of molecular biology, life sciences,
and biotechnology has witnessed significant technological advancements, leading
to a paradigm shift in various areas such as drug discovery, personalized
medicines, forensic sciences, and clinical research and development within the
biotechnology industry. Real time PCR, as an integral part of the
pharmaceutical and life science sectors, plays a crucial role in the
development of assays, test kits, solutions, and culture media. Furthermore,
the rising utilization of real-time PCR techniques in disease diagnosis is contributing
to the overall market growth.,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Real Time PCR Market Segmented By Product
(Reagents & Consumables, Instruments, Software & Services), By
Application (Clinical Diagnostics, Research, Forensic), By End-User (Hospitals
and Diagnostic Centers, Pharmaceutical, CROs and Biotechnology Companies,
Research Laboratories and Academic Institutes, Forensic Laboratories), By
Region and Competition, Forecast
& Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Real Time PCR Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Real Time PCR
Market.
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