The global digital PCR market was valued at US$ 131.9 Mn in 2020 and is expected to exhibit a CAGR of around 9.3% over the forecast period (2021-2031).
PUNE, MAHARASHTRA, INDIA, February 19, 2022 /EINPresswire.com/ — The Digital PCR Market is likely to grow stupendously in the subsequent decade. With IoT in the picture, the complex medical equipment could be monitored, that too, all at a time and under one umbrella. As such, costly downtime could be avoided and predictive maintenance could be fostered. Plus, increased spending could be facilitated for disposable items like syringes, gloves, and masks.
As per Persistence Market Research’s latest revised industry analysis, the global digital PCR market was valued at US$ 131.9 Mn in 2020, and is expected to exhibit a CAGR of around 9.3% over the forecast period (2021-2031).
Digital PCR, or dPCR, is a new quantitative PCR method that enables ultrasensitive and reproducible detection as well as quantification of nucleic acid. It is an alternative method to conventional real-time qPCR, where the amplification reaction remains same but the method of quantifying the target sample differs.
Rising awareness about advanced molecular diagnostics is set to enhance the utilization of dPCR. Molecular diagnostics, specifically nucleic acid-based techniques for the detection of infectious diseases are rapidly growing approaches in clinical diagnostic laboratories. These techniques have been evolving since their development, including advances in digital PCR technologies that can now aid in the precise diagnosis of life-threatening diseases such as cancer and Ebola. There are several digital PCR-based diagnostic kits and assays for multiple diseases that have been introduced in molecular diagnosis over the previous decade.
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Increasing global funding in research & development is adjacent to driving the demand of digital PCRs. The application of PCR-based techniques in drug discovery, genomics, and personalized medicine has augmented its penetration to reach the field of point-of-care molecular diagnostics. To address the global disease burden, there is a recent surge in the expenditure that contributes to the research and development of disease-related scientific studies. The trend is also encouraging molecular diagnostic manufacturers to invest more and support ongoing research in government and non-profit organizations.
Additionally, the National Institute of Health (NIH) has started the precision medicine initiative to address the issues and time associated with disease diagnosis and treatment. As opposed to the ‘one-size-fits-all’ treatment approach, precision medicine is an innovative approach that considers variety in people’s genes, environments, and lifestyles. Implementation of precision medicine has led to new discoveries and several FDA approvals for treatments pertaining to specific characteristics of an individual.
Bio-Rad Laboratories, Inc.
Thermo Fisher Scientific Inc.
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Key Takeaways from Market Study
By product, instruments are expected to hold over 70% market value share by the end of 2031, primarily because of the presence of key market players for production worldwide.
Based on application, basic research is leading with nearly 35% market share, owing to extensive research opportunities in infection diagnosis and drug discovery.
Research institutes dominated the end-user segment with a share of around 69.4% in 2020, due to increasing number of molecular biology companies focusing on infection diagnostics after the COVID-19 pandemic.
By region, North America is slated to be the largest market with a value share of 35% by the end of the forecast period (2021 to 2031).
“Advancements in technology and application of digital PCR in drug discovery are anticipated to propel demand for as a measure for disease detection and prevention,” says an analyst of Persistence Market Research.
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Acquisitions, mergers, expansions, and product launches are the key strategies adopted by manufacturers to increase their consumer base across geographies.
On October 28, 2021, Bio-Rad Laboratories projected a growth rise in Q3 revenue after the acquisition of dPCR maker, Dropworks.
On September 20, 2021, Thermofisher launched the Applied Biosystems QuantStudio Absolute Q Digital PCR System, the first fully integrated digital PCR (dPCR) system designed to provide highly accurate and consistent results within 90 minutes.
On January 14, 2019, Qiagen NV agreed to acquire certain molecular testing assets from Formulatrix Inc., including the CONSTELLATION® series of instruments.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the digital PCR market in its latest study, presenting a historical demand assessment of 2016 – 2020 and projections for 2021 – 2031.
The research study is based on the product (instruments, consumables, and service), application (clinical diagnostics, basic research, applied research, and forensic testing), and end-user (pharmaceutical companies, research institutes, forensic labs, and agriculture companies), across seven key regions of the world.
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