Press Release

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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