The rising demand for rapid diagnostics and increasing prevalence of infectious and genetic disorders to elevate the growth of real-time PCR (qPCR) assay market

calendar_today 15 July, 2022 person_outline Growth Plus Reports

Real-Time(qPCR) Assay Market by Product Type (Reagents & Consumables, and Instruments) Application (Clinical Research, and Forensic), End User (Hospitals & Diagnostic Centers, Academic & Research Institutes, Pharmaceutical & Biotechnology Industries, and Others) - Global Outlook & Forecast 2022-2030

According to the deep-dive market assessment study conducted by Growth + Reports, the global real-time(qPCR) assay market was pegged at ~ US$ 4.10 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of ~7.4% from 2022 to 2030.

Globally, governments and federal organizations are emphasizing the importance of qPCR technologies in genomics research. Furthermore, several financing initiatives by government and corporate organizations to aid genomic research have been observed in the qPCR industries. Another key factor driving the market growth is the emergence of innovative and advanced genomic analysis products around the world. As qPCR devices are highly efficient for estimating disease-causing microbes and diagnostic analysis, the global demand for the qPCR market is expanding.

In the recent years, the rising demand for rapid diagnostics and increasing prevalence of infectious and genetic disorders such as cancer, HIV, and Hepatitis have all pushed the global qPCR market forward. Rapid technological advancements have recently gathered market investments, and the global market is expected to undergo significant changes during the forecast period.

The geriatric population has increased the demand for genetic tests. Several genome projects have been launched in the last decade. This has improved researchers' understanding of the human genome. To understand the human gene sequence, these projects necessitate gene sequencing and genetic tests. These demands aided the growth of qPCR equipment, which in turn aided the growth of the qPCR equipment market.

To deal with the pandemic and increase revenue, several companies' marketing strategies have been altered. In order to maintain their market position, major players are constantly releasing a novel, compact, and portable systems and test kits that can be used for a broader range of applications and provide more benefits. For instance, in response to the COVID-19 outbreak, Thermo Fisher Scientific developed several PCR kits and assays for diagnostic and research purposes in March 2020. The US FDA granted emergency use authorization (EUA)

for the SARS-CoV-2 multiplex real-time PCR test, and AcroMetrix Coronavirus 2019 (COVID-19) RNA Control was introduced in 2020. Such initiatives by major market players are expected to create new market opportunities.

However, one of the major market restraints is technical glitches and the high initial cost of qPCR. Technical limitations in PCR restrain the adoption rate, which is a major factor impeding the growth of the global qPCR market. For instance, false-negative results may occur due to mutations in the primer and probe-target regions of the SARS-CoV-2 genome, according to a published article in PubMed in April 2020. Furthermore, false-negative results may occur due to the presence of amplification inhibitors in the sample. As a result, the sensitivity and specificity of the RT-PCR test are not completely valid, limiting the growth of the real-time PCR (qPCR) market.

Based on the region, the global qPCR assay market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America dominated the global qPCR market with the highest revenue share and is expected to maintain this position throughout the forecast period, primarily due to the presence of favourable regulations and various government initiatives aimed at developing healthcare infrastructure, as well as the region's high chronic disease prevalence. Furthermore, strong presence of prominent manufacturers, as well as increasing demand for rapid diagnostic tests, are expected to be critical factors driving the North American market throughout the forecast period.

Additionally, because of significant developments by China and Japan for technological integration of qPCR methodologies, as well as the development of healthcare, R&D, and clinical development frameworks by emerging economies such as India and Australia, Asia Pacific is the most lucrative market for qPCR. Growth in patient count due to an increase in chronic and infectious diseases, combined with growing patient preferences for early diagnosis, is expected to drive the market growth in Asia Pacific. India is expected to be one of the capable markets in qPCR, for instance, The Department of Biotechnology (DBT), the Department of Science and Technology (DST), and the Department of Scientific and Industrial Research (DSIR) in India regulate and provide guidelines for biotechnology products. These organizations provide manufacturing or technology transfer guidelines, as well as generate manpower for production and raise funds.

Some prominent players operating in the global qPCR assay market are Thermo Fisher Scientific, Bio-Rad Laboratories Inc., Abbott Laboratories, F. Hoffmann-La Roche, Ltd., Becton Dickinson and Company, Analytik Jena AG, Agilent Technologies, Eppendorf, Fluidigm Corporation, Merck KGaA, Takara Bio, and Qiagen N.V.

awards awards key differentiators

Reach Us

Web –

// // // //