Surging real-time PCR (qPCR) adoption for the diagnosis and estimation of disease-causing microbes due to increasing product availability is expected to drive the growth of the real-time PCR (qPCR) market. Also, there is high awareness among the patient population about new diagnosis and availability of advanced PCR products. For instance, in April, 2020, Takara Bio suggested keys to sustenance clinicians and researchers studying the novel coronavirus, such as real-time PCR kits that can be used with recognized primers for complex detection of COVID-19. This is of great importance with the wide spread of the coronavirus that is taking place across the globe, which, in turn, is expected to boost the demand for real-time PCR (qPCR). Moreover, higher purchasing power and initiation of automated real-time PCR instruments are major factors aiding the growth of the real-time PCR (qPCR) market. Increasing collaborations, R&D investments toward developing kits, reagents, consumables, etc., as effective real-time products, along with a refined chain of local distribution networks are expected to boost market growth.
The global real-time PCR (qPCR) market was valued at US$ 2.8 Bn in 2019, and is expected to exhibit a CAGR of more than 8% during the forecast period (2020–2030).
Key Takeaways of Real-Time PCR (qPCR) Market Study
- Based on product, due to superior product efficiency, real-time PCR (qPCR) reagents and assays together generated over 42% market value share in 2019.
- Various product launches by key players along with technological advancements are expected to dominate the demand for real-time PCR (qPCR). For instance, in 2019, Bio-Rad Laboratories, Inc. announced the launch of real-time PCR (qPCR) kits that are named Aspergillus iQ-Check RT-PCR Kits, which are used for the detection of Aspergillus in Cannabis and Cannabis-permeated products.
- In terms of end user, both, academic and research institutes and biopharmaceutical companies hold over 44% of market value share, due to the growing use of real-time PCR (qPCR) techniques in drug development and other research activities.
- North America captured over 1/2 real-time PCR (qPCR) market value share, and is expected to be the most lucrative region in the global market during the forecast period. The market in the region is characterized by higher prevalence and diagnosis rates of infectious diseases, and rising awareness regarding advanced real-time PCR (qPCR) devices.
“Increasing adoption of real-time PCR (qPCR) for diagnosis and estimation of disease-causing microbes, along with its cost-effectiveness, and availability of low end products in most of the countries, are some of the factors expected to propel the growth of the global real-time PCR (qPCR) market through 2030,” says a PMR analyst.
Collaboration & Launching of New Products – An Imperative Strategy for Market Players
Market introduction of new real-time PCR (qPCR) products and collaboration with various larger as well as regional market players are some of the major factors responsible for the intense competition among real-time PCR (qPCR) market players. Most companies in the real-time PCR (qPCR) market are small & medium business enterprises, which limits the competition of market players to specific regions.
What else is in the report?
Persistence Market Research offers a unique perspective and actionable insights on the real-time PCR (qPCR) market in its latest study, presenting historical demand assessment of 2015–2019 and projections for 2020–2030, based on product (real-time PCR (qPCR) systems, reagents and assays, real-time PCR (qPCR)), application (clinical, research, forensics, and others,), end user (hospitals, diagnostic laboratories, academic and research institutes, biopharmaceutical companies, contract research organizations, animal health, food & agriculture industries, and others), across seven key regions.
For additional insights on how growth of the real-time PCR (qPCR) market will unfold over the next decade, write to the analyst at email@example.com
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