PCR And Realtime PCR Testing Global Market Report 2024

The pcr and realtime pcr testing market size has grown strongly in recent years. It will grow from $20.86 billion in 2023 to $22.03 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth observed during the historical period can be attributed to various factors, including the increased use of PCR and real-time PCR testing for disease diagnosis, research and genomic studies, the adoption of automation and high-throughput methods, their applications in the pharmaceutical and biotechnology industries, and their utilization for point-of-care testing. These factors have contributed to the expansion of the PCR and real-time PCR testing market.

The pcr and realtime pcr testing market size is expected to see strong growth in the next few years. It will grow to $27.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The anticipated growth in the forecast period can be attributed to various factors, including the continued utilization of PCR and real-time PCR testing for pandemic response, precision medicine applications, cancer diagnostics, and infectious disease surveillance. Prominent trends expected in this forecast period encompass an increased emphasis on infectious disease testing, the expansion of point-of-care testing, the adoption of digital PCR techniques, and the development of multiplex assays for more comprehensive and efficient testing solutions.

The early detection of COVID-19 is a crucial factor in effectively treating patients. Among the various testing methods available, real-time RT-PCR stands out as a highly sensitive and specific technique that can provide a reliable diagnosis in as little as three hours, significantly faster than other laboratory tests, which typically take an average of 6 to 8 hours. Real-time RT-PCR is not only quicker but also has a lower risk of contamination or errors since the entire process occurs within a closed tube. As a result, it is currently considered the most accurate method for detecting the COVID-19. This has led to a substantial increase in demand for PCR testing kits, driving the market's growth.

The primary products associated with PCR and real-time PCR testing include consumables, reagents, instruments, software, and various services. These tests leverage technologies such as quantitative PCR and digital PCR, which offer a range of applications in clinical diagnostics, life science research, industrial settings, and other fields. The market for PCR and real-time PCR testing is segmented by end-use, which includes academic and research institutes, pharmaceutical and biotechnology companies, clinical diagnostics labs and hospitals, and other entities.

The PCR and real-time PCR testing market research report is one of a series of new reports that provides PCR and real-time PCR testing market statistics, including polymerase chain reaction PCR and real-time PCR testing industry global market size, regional shares, competitors with a polymerase chain reaction PCR and real-time PCR testing market share, detailed PCR and real-time PCR testing market segments, market trends and opportunities, and any further data you may need to thrive in the PCR and real-time PCR testing industry. This polymerase chain reaction PCR and real-time PCR testing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The increasing approvals for personalized medicines are poised to be a driving force behind the PCR and real-time PCR testing market. Personalized medicines are tailored treatments designed based on individual patient characteristics, such as genetics, biomarkers, phenotypes, or psychosocial factors, to predict how a patient will respond to a treatment. PCR and Real-Time PCR technology in personalized medicine allows for precise identification of genetic variations, facilitating the customization of treatments to meet individual patient needs and enhance therapeutic outcomes. For example, in 2021, the FDA's CDER approved 50 new molecular entities, and 35% of these were classified as personalized medicines by The Personalized Medicine Coalition. Therefore, the increasing approvals for personalized medicines are expected to boost the PCR and real-time PCR testing market.

The emergence of alternative technologies is anticipated to hinder the growth of the PCR and real-time PCR testing market. New technologies like CRISPR, which offer rapid testing capabilities, are expected to be introduced soon. In August 2023, CrisprBits and Molbio Diagnostics collaborated to launch CRISPR-based Point-of-Care tests (POCTs) for the rapid and precise identification of various pathogens and genetic markers on-site. Consequently, the development of alternative tests is likely to impede the growth of the PCR and real-time PCR testing market.

Companies operating in the PCR and real-time PCR testing market are continuously innovating by introducing new test kits and systems for diagnosing various diseases. In January 2022, BioGenex Life Sciences Pvt Ltd developed an RT-PCR kit for COVID-19 diagnosis. This kit can identify COVID-19 caused by different SARS-CoV-2 strains, including 'OmicronON,' without the need for RNA extraction and does so twice as quickly as conventional PCR tests. Many companies are introducing real-time RT-PCR tests for COVID-19, contributing to the market's growth.

Major companies in the PCR and real-time PCR testing market are focused on developing advanced diagnostic tools to meet market demands and client needs. A real-time reverse transcription-polymerase chain reaction (RT-PCR) detection kit is a diagnostic tool used to detect specific RNA sequences. For instance, in May 2022, Mylab Discovery Solutions, an India-based diagnostics company, launched the Discover Series HLAB*27 Detection Kit, an advanced RT-PCR diagnostic instrument designed for the early detection of Ankylosing Spondylitis, an inflammatory condition primarily affecting the spine. This kit is crucial for individuals genetically susceptible to the condition, as HLA-B27 is found in approximately 90% of patients. Using real-time PCR technology, the kit offers nearly 100% accuracy, outperforming many other kits in the market by covering a wide range of known genotypes and subtypes.

Major companies operating in the pcr and realtime pcr testing market include Abbott Laboratories, Agilent Technologies Inc., bioMérieux SA, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd., QIAGEN N.V., GenMark Diagnostics Inc., Thermo Fisher Scientific Inc., General Electric Company, Danaher Corporation, Becton Dickinson and Company, Luminex Corporation, Meridian Bioscience Inc., Fluidigm Corporation, RainDance Technologies Inc., BioFire Diagnostics LLC, Cepheid Inc., Illumina Inc., Oxford Nanopore Technologies Ltd., Pacific Biosciences of California Inc., Promega Corporation, Takara Bio Inc., Twist Bioscience Corporation, Zymo Research Corporation, BioChain Institute Inc., BioLegend Inc., Bioo Scientific Corporation, Creative Diagnostics, Eurofins Scientific SE, Myriad Genetics Inc.

Asia-Pacific was the largest region in the PCR and real-time PCR testing market in 2023. Western Europe was the second-largest region in the PCR and real-time PCR testing market. The regions covered in the pcr and realtime pcr testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the pcr and realtime pcr testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The PCR and Real-time PCR testing market consists of sales of genetic sequencing equipment such as automated thermo cyclers with technologies such as quantitative PCR and digital PCR for cloning, genotyping, mutation testing, paternity testing, sequencing, and microarrays. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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