Real-Time PCR market projected to reach USD 10.30 billion by 2032, driven by technological advancements
From GlobeNewswire: 2024-10-23 09:00:00
The Real-Time PCR Market is projected to grow from USD 6.84 billion in 2023 to USD 10.30 billion by 2032, with a CAGR of 4.67%. The increasing instances of genetic diseases and infectious diseases are driving market growth, along with advancements in PCR technologies enabling early diagnoses and personalized therapies.
Reagents & Consumables accounted for over 55% of the Real-Time PCR market in 2023, due to their essential role in accurate testing. Clinical applications held over 60% market share, driven by the need for accurate diagnostics in infectious diseases, genetic disorders, and cancers. Hospitals & Diagnostic Centers dominated end-user market share, capturing more than 40%.
North America led the Real-Time PCR market in 2023, driven by advanced healthcare infrastructure and major players like Thermo Fisher Scientific and Bio-Rad Laboratories. The region’s focus on genomics research and personalized medicine has contributed to the widespread adoption of qPCR in laboratory practices and public health initiatives.
Key players in the Real-Time PCR market include Abbott, QIAGEN, Bio-Rad Laboratories Inc., and Thermo Fisher Scientific Inc. Recent industry developments include the launch of advanced PCR systems by companies like Thermo Fisher Scientific and Agilent Technologies, aimed at providing more efficient and accurate genetic analysis solutions.
Overall, the Real-Time PCR market is set to witness significant growth in the coming years, driven by the increasing prevalence of genetic disorders and infectious diseases, technological advancements, and the widespread adoption of qPCR across various industries. Automation, software solutions, and advanced data analytics will play a crucial role in revolutionizing the market and meeting the growing demand for accurate diagnostic solutions.
Read more at GlobeNewswire: Real-Time PCR (qPCR) Market Size Set to Reach USD 10.30