Technological advancements in the form of superior qPCR systems and rising prevalence of targeted diseases are major factors aiding the growth of the real-time PCR (qPCR) market. Consistent efforts by PCR manufacturers to develop novel systems and kits for molecular testing, coupled with rising investments in research & development by key manufacturers, are likely to further propel the growth of the real-time PCR (qPCR) market over the forecast period period of 2020 to 2030. The market is expected to witness significant growth owing to the increasing adoption in scientific disciplines such as forensic science, human genetic testing, and pathogen detection. Expanding application in veterinary medicines and food microbiology is creating incremental opportunities for players to increase their market share in the coming years.
Rising Incidence of Life-threatening Infectious Diseases & Genetic Disorders Surging Demand
Increase in the prevalence of infectious diseases such as HIV, malaria, and hepatitis, and genetic disorders such as syndromes and cancer, are expected to fuel the growth of the real-time PCR (qPCR) market. Due to the rising prevalence of target diseases, worldwide, with the proven efficacy of real-time PCR (qPCR) analysis in the estimation and diagnosis of disease-causing microbes, the use of clinical diagnostic tests will increase. Thus, this, in turn, is expected to boost the growth of the real-time PCR (qPCR) market.
COVID-19 Impact Propelling Demand for RT-PCR Kits
With increasing cases of COVID-19 across the world, the need for effective and quick testing is escalating, and the RT-PCR kit is the most sought-after method in the healthcare industry, thereby producing a point in the demand for these kits. This factor is playing an important role in driving the growth of the real-time PCR (qPCR) market. Many research organizations and universities are giving outstanding support by providing their real-time PCR (qPCR) platforms for conducting tests, which is one of the most accurate laboratory methods for tracking, detecting, and studying the coronavirus.
Evolution of Real-Time PCR Techniques Driven by Continuous Development in Pharmaceutical & Biotechnology Industries
Growing use of real-time PCR (qPCR) techniques in drug development and other research activities will augment real-time PCR (qPCR) products in biotechnology and pharmaceutical industries. Besides, increasing number of biotechnology and pharmaceutical industries focusing on the use of advanced methods for the diagnosis of various diseases is likely to further drive the growth of the real-time PCR (qPCR) market. Further, the recent outbreak of COVID-19, which has transformed into a global pandemic, is certain to assert influence on the market. Additionally, initiatives such as Indian government approved 12 rapid antibody test kits for COVID-19 diagnosis are giving a significant boost to the real-time PCR (qPCR) market.
Global Real-Time PCR (qPCR) Market Regional Outlook
North America remains the most lucrative region with a significant market share of close to 57% in the global real-time PCR (qPCR) market. Increased adoption of novel and innovative genomic analysis products and availability of R&D grants are factors contributing to the dominance of North America in this market space. High prevalence of chronic & infectious diseases coupled with increasing awareness among patients about the early diagnosis of these diseases is anticipated to boost the demand for PCR products in Asia Pacific, in turn, driving the growth of the market in the region over the coming years.
Competitive Landscape of Real-Time PCR (qPCR) Market
The real-time PCR (qPCR) market is characterized as a consolidated market, with key players across the globe such as Thermofisher Scientific, Bio-Rad Laboratories Inc., Sigma-Aldrich Co. LLC., TransGen Biotech Co.Ltd., Sino Biological Inc., Agilent Technologies, Inc., Quantabio, Vela Diagnostics, BIOTECON Diagnostics, Shanghai Fosun Long March Medical Science Co., Ltd., F. Hoffmann-La Roche Ltd., etc. Manufacturers are actively involved in collaborations for product development and geographic expansion to gain a larger market share in the real-time PCR (qPCR) market space.
Analysts’ Viewpoint on Real-Time PCR (qPCR) Market Trends
Increasing adoption real-time PCR (qPCR) for the diagnosis and estimation of disease-causing microbes, with increasing product availability among consumers, is expected to fuel the growth of the real-time PCR (qPCR) market during the forecast period, which is projected to expand at a CAGR of more than 8% through 2030. The cost effectiveness of real-time PCR (qPCR) products remains one of the major drivers for the growth of this industry.
Real-Time PCR (qPCR) Market - Scope of the Report
Persistence Market Research (PMR) recently published a market study on the global real-time PCR (qPCR) market. The study provides detailed assessment on key market dynamics, including the drivers, trends, opportunities, restraints, and detailed information about the real-time PCR (qPCR) market structure. The market study presents exclusive information about how the real-time PCR (qPCR) market will grow during the forecast period (2020-2030).
Key indicators of market growth, which include compound annual growth rate (CAGR) and Year-on-Year (Y-o-Y) growth of the market are explained in PMR’s study in a comprehensive manner. Other information includes definition, drivers and opportunity analysis by region, end user, application, and product, which helps in deep understanding of the market by researchers, suppliers, manufactures, and distributors. This information can help readers understand the quantitative growth prospects of the real-time PCR (qPCR) market during the forecast period.
The study is relevant for manufacturers, physicians, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Business researcher, shareholders, and industry experts can leverage the information and data presented in PMR’s study.
The study also includes statistics as well as facts related to the macroeconomic factors that are impacting developments in the market. It also offers actionable insights based on the future trends in the real-time PCR (qPCR) market. Furthermore, small businesses and new entrants in the real-time PCR (qPCR) market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
PMR’s study on the real-time PCR (qPCR) market offers information divided into four important segments—product, application, end user, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
Key Segments of Real-time PCR (qPCR) Market
Questions Answered in PMR’s Real-Time PCR (qPCR) Market Report
Real-Time PCR (qPCR) Market: Research Methodology
In PMR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the real-time PCR (qPCR) market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the real-time PCR (qPCR) market study include statistics from government healthcare organizations, medicines journals, research journals, press release, annual reports, white papers, directories, and databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from market players, and makes PMR’s projection on the growth prospects of the real-time PCR (qPCR) market more accurate and reliable.