CHICAGO, May 22, 2019 /PRNewswire/ -- According to the new market research report "Digital PCR (dPCR) and Real-time PCR (qPCR) Market by Product (Instruments, Reagents, Software, Services), Application (Clinical, Oncology, Forensics), End-user (Hospitals, Diagnostic Labs, Academia, Pharma-Biotech, CRO) - Global Forecast to 2024", published by MarketsandMarkets™, the market is projected to reach USD 6.3 billion by 2024 from USD 4.1 billion in 2019, at a CAGR of 8.8%.
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The rising incidences of target diseases (such as HIV, malaria, tuberculosis, and cancer) and genetic disorders; increasing use of biomarker profiling for disease diagnosis and monitoring; and successful completion of the Human Genome Sequencing Project are a few key factors driving the growth of this market. In addition, ongoing technological advancements in PCR technologies and support for genomic research have contributed to market growth.
Reagents and consumables to dominate the qPCR market in 2019
Reagents and consumables are expected to account for the largest share among qPCR product categories in 2019. The large share of this segment is due to the expanding applications of qPCR (owing to its technological benefits over traditional PCR), growing private-public funding for life science research, and the rising number of probe-based multiplex genetic analysis procedures (that require the analysis of low-volume gene samples).
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120 – Tables
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210 – Pages
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Instruments to be the fastest-growing segment among dPCR products during the forecast period
The dPCR instruments segment is expected to grow at the fastest CAGR among dPCR products during the forecast period. The high growth of this segment will be driven by the procedural benefits offered by dPCR over qPCR (such as reduced throughput time, elimination of reference standards, absolute sample quantification, and high accuracy), growing demand for dPCR (particularly in forensics and drug discovery), and the rising number of dPCR-based genetic research activities across the globe.
Geographically, Asia Pacific is expected to be the fastest-growing market segment
North America accounts for the largest share of the dPCR and qPCR market. However, the Asia Pacific is expected to grow at the fastest CAGR during the forecast period. The high growth of this segment is mainly attributed to the ongoing expansion & modernization of healthcare infrastructure in emerging Asian countries, increasing number of research projects in China, India, and Japan in the fields of genomics and cancer, rising outsourcing of clinical research to Asia-based CROs by leading drug manufacturing companies, and continuous government support for genomics-based research activities in emerging Asia Pacific countries.
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The major players operating in the dPCR and qPCR market are Thermo Fisher Scientific, Inc. (US), F. Hoffman-La Roche Ltd. (Switzerland), Bio-Rad Laboratories, Inc. (US), QIAGEN N.V. (Germany), Takara Bio, Inc. (Japan), Agilent Technologies, Inc. (US), bioMérieux S.A. (France), Fluidigm Corporation (US), Danaher Corporation (US), Abbott Laboratories (US), Merck KGaA (Germany), Becton Dickinson and Company (US), Promega Corporation (US), Eppendorf AG (Germany), and Analytik Jena AG (Germany).
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