The PCR and real-time PCR molecular diagnostics market reached a valuation of US$ 2 Bn in 2019 growing at a very strong rate through 2030. The coronavirus pandemic is expected to bolster demand in the short term for PCR and real-time PCR molecular diagnostics, owing to the massive potential in testing and diagnostics applications to identify and segregate patients during the global crisis.
Dubai, United Arab Emirates -- (SBWIRE) -- 11/25/2020 -- The PCR and real-time PCR molecular diagnostics market reached a valuation of US$ 2 Bn in 2019 growing at a very strong rate through 2030. The coronavirus pandemic is expected to bolster demand in the short term for PCR and real-time PCR molecular diagnostics, owing to the massive potential in testing and diagnostics applications to identify and segregate patients during the global crisis. In addition, application in diagnosing other chronic and infectious diseases will also sustain growth in the post-pandemic era.
"The ease of availability for a wide range of reagents and consumables, and applications in varied therapeutic areas, in addition to investments into commercial and research sectors, are key factors that drive the rise of the PCR and real-time PCR molecular diagnostics industry," says the Fact.MR report.
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PCR and real-time PCR molecular diagnostics Market - Key Takeaways
Reagents are expected to provide significant revenue on the back of strong demand for OTC offerings for home-based healthcare settings.
Point-of-care offerings are likely to reflect fast growth owing to the growing demand for self-testing product offerings.
Government initiatives towards the modernization of healthcare infrastructure and the growth of medical tourism are strongly bolstering the growth rate of the Asia Pacific market.
PCR and real-time PCR molecular diagnostics Market - Driving Factors
A massive global population and the resultant number of chronic and infectious diseases are key factors sustaining market growth.
Growing number of R&D projects and investments into POC healthcare, particularly in the Asia Pacific region are driving growth.
PCR and real-time PCR molecular diagnostics Market - Constraints
Rising costs associated with the development and application of new disease diagnostic tools is a obstacle to market growth.
Lack of standardization in terms of regulations for the use of PCR and real-time PCR molecular diagnostics hurts market prospects.
Anticipated Market Impact by Coronavirus Outbreak
The vast number of positive covid-19 cases around the world has been a major driver for the demand for PCR and real-time PCR molecular diagnostic tools and services. Favorable changes in policy by governments and health-associated bodies such as the WHO during this crisis has supported market prospects in the short term.
Also, the use of PCR or real-time PCR aids healthcare professionals to minimize false positives and negatives, which could arise through contamination. However, supply chain issues especially with consumables such as reagents are likely to create challenges for market players during this period.
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Prominent manufacturers in the PCR and real-time PCR molecular diagnostics market include but are not limited to Hologic Inc., Abbott Laboratories, Seegene Inc., bioMereiux SA, Thermo Fisher Scientific Inc., Danaher Corporation, GRIFOLS SA, Bio-Rad Laboratories, Genomic Health, and Becton, Dickinson & Company.
Leading players in the PCR and real-time PCR molecular diagnostics market are pushing with product launches and strategic collaboration with towards expanding portfolios, and providing diagnostic solutions for the ongoing covid-19 crisis.
For instance, NuProbe has revealed the launch of its Augury diagnostic platform for customized liquid biopsy panels for cell-free DNA. Immuneexpress Inc. has unveiled SeptiCyte RAPID for Covid triage and sepsis diagnosis. Also, CerTest Biotec has partnered with Becton, Dickinson and Company to develop and launch the VIASURE SARS-CoV-2 real time PCR detection kit.
More on the Report
The Fact.MR's market research report provides in-depth insights on PCR and real-time PCR molecular diagnostics market. The market is scrutinized according to technology (traditional PCR, real-time PCR, and digital PCR), product (instruments, reagents, and consumables), application (infectious disease testing, oncology testing, genetic testing, and others), and end user (hospitals, diagnostic laboratories, academic and research centers, and others) across five key regions (North America, Latin America, Europe, Asia Pacific, and Middle East and Africa).
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