Real-Time PCR (qPCR) Market Size: Market Entry Barriers and StrategiesPosted by mayur pande on June 25th, 2024  Real-Time PCR (qPCR) Market Outlook, Scope & Overview: Industry reports indicate that the global real-time PCR (qPCR) market was valued at USD 5.2 billion in 2022 and is projected to reach USD 8.07 billion by 2030, growing at a CAGR of 5.65% over the forecast period 2023-2030. Technological Advancements to Drive Growth of Global Real-Time PCR (qPCR) Market The adoption of advanced qPCR techniques will continue to influence global market revenues. Healthcare professionals are increasingly utilizing qPCR due to its accuracy and efficiency in detecting and quantifying nucleic acids, making it essential for various applications in research and diagnostics. As a product type segment, real-time PCR (qPCR) systems currently hold a significant share of the global qPCR market. This segment is anticipated to grow at a year-over-year rate of 5.65% in 2023 over 2022 and reach USD 6 billion in revenues by 2025. A substantial increase in the demand for qPCR systems is expected, driven by factors such as increasing research activities, advancements in qPCR technologies, and the rising prevalence of infectious diseases. Real-Time PCR (qPCR) Systems – Market Dynamics Drivers: Real-time PCR (qPCR) systems are one of the latest advancements in molecular diagnostics and are considered a crucial product-type segment in the global qPCR market. The use of qPCR systems has increased in various aspects of medical testing, disease detection, and research. Infectious disease testing, oncology, and genetic research are some of the key clinical and research areas that extensively use qPCR systems. As a result, real-time PCR is emerging as an important and advanced molecular diagnostic system in private laboratories, hospitals, and research centers. Moreover, the demand for qPCR systems has increased in genetic testing, pharmacogenomics, as well as point-of-care testing. Additionally, the rising number of chronic diseases and complex medical conditions will continue to drive the growth in the demand for qPCR systems in the global market. The use of qPCR as an integrated component in precision medicine is also observed as a key factor fueling the demand for real-time PCR in the global market. Restraints: The challenges associated with using qPCR technology are perceived as the main restraints affecting the growth of the segment in the global market. Unlike some traditional diagnostic methods, qPCR requires high technical expertise and precision, leading to higher operational costs and complexity. This has led to reluctance among several healthcare providers to adopt these systems extensively, thereby lowering the adoption rate of real-time PCR. The risk of contamination and the need for specialized infrastructure are higher with qPCR systems, which can hinder their widespread adoption. Additionally, the technical disadvantages of qPCR systems such as the requirement for high-quality reagents and the potential for false positives are also expected to limit the growth of real-time PCR technology in the global market. qPCR Diagnostics Equipment – Market Outlook The effective diagnostic outcomes from the use of qPCR diagnostics equipment in healthcare have boosted the prominence of the technology in the global market. qPCR diagnostics products and devices are observed as the fastest-growing product-type segment in the global market. Real-time PCR has gained prominence in North America, which is one of the leading regions in the global qPCR market. Global Real-Time PCR (qPCR) Market The rise in the installation of qPCR diagnostics systems in the US is expected to register a CAGR of over 6% during the forecast period. As a result, the qPCR segment in North America is expected to account for USD 4 billion by the end of 2030. In Europe, the growth in demand for real-time PCR technology is expected to expand at a CAGR of over 5% and reach USD 2.5 billion over the next eight years. At a similar CAGR, the qPCR equipment market in the Asia Pacific region is expected to attain over USD 1.5 billion by the end of the forecast period. Key Players in the Real-Time PCR (qPCR) Market Leading companies in the real-time PCR (qPCR) market include Thermo Fisher Scientific, Bio-Rad Laboratories, Roche Diagnostics, and QIAGEN. These companies offer a range of qPCR solutions, including advanced qPCR systems, reagents, and software tools for data analysis. In conclusion, the global real-time PCR (qPCR) market is poised for steady growth over the forecast period, driven by technological advancements, increasing research activities, and the growing need for accurate and efficient molecular diagnostics. Other Trending Reports Like it? Share it! More by this author |