North America Increasing Dominance in Global qPCR and dPCR Market
The qPCR and dPCR Market is expected to grow at a CAGR of 9.2% to reach $6.7 billion by 2025
Bangalore, India, February 12, 2019: With its recently published study “Global qPCR and dPCR Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the global market for qPCR and dPCR will continue to grow due to rising demand for qPCR and dPCR in genetic and molecular testing, increase in private investment & funds, and market expansion opportunities in emerging nations are expected to enhance the market growth. However, the lack of skilled professionals and high cost of the qPCR and dPCR instruments are hampering the market growth.
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qPCR and dPCR finds major use in clinical diagnostics, biomedical research, and others. The growth of personalized medicines and increasing demand for biomarker-based tests has driven the market growth. In February 2018, Qiagen launched its ipsogen JAK2 RGQ PCR Kit in the US for the diagnosis of blood cancer. The qPCR and dPCR Market growth at a CAGR of 9.2% to reach $6.7 billion by 2025.
North America dominates the qPCR and dPCR market, followed by Europe and Asia Pacific. The major share of the North America market is from the US due to the quick adoption of new and advanced technologies. Asia Pacific is expected to witness the highest growth rate during the forecast period. Therefore many players are trying to increase their market reach in this region. In May 2017, Qiagen entered a joint venture with Maccura Biotechnology Co., Ltd, one of the leaders in the diagnostics sector in China to enhance the growth of their systems in the market.
The qPCR technology dominates the market due to vast acceptance of the technology across the application areas. In 2017, Qiagen N.V. surpassed the 2,000 cumulative placements of QIAsymphony systems, its flagship product. Better precision, sensitivity, and reliability for quantification of nucleic acid has made the digital PCR technology the fastest growing segment in the market.
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“The qPCR and dPCR market is facing intense competition due to the presence of many players in the market. To expand their market presence, both large and small players are involved in intense research and development and product launch. In December 2017, a new generation digital PCR system was launched by JN Medsys which has superior sensitivity and the uppermost detection throughput.
The key challenge in the qPCR and dPCR market is the high cost of the instrument when compared to other types of thermal cyclers, there is high competition among participants to offer the best affordable instruments. Thermo Fisher Scientific’s QuantStudio 3D Digital PCR costs 50% less than the others, but Bio-Rad is focusing on reducing the cost per tests.” said Rikitha K Murthy, Research Analyst, Infoholic Research.
Key insights of the report include
- Key Product Areas
- Reagents and Consumables
- Software and Services
- Key Technology Areas
- Major Application Areas
- Clinical Diagnostics
- Biomedical Research
- Key End-Users
- Hospitals and Laboratories
- Pharmaceutical Companies
- Industry outlook
- Market trends,
- restraints, and opportunities