LONDON--(BUSINESS WIRE)--The global quantitative polymerase chain reaction (qPCR) market is expected to grow at a CAGR of around 8% during the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global qPCR market for 2017-2021. The market is segmented based on application, which includes drug discovery and development, clinical diagnostics, and research laboratories.
PCR is a technique of molecular genetics, used for precise, specific, and accurate amplification and analysis of nucleic acid sequences. It is also used in a wide range of applications in research and diagnosis, such as genetic engineering, cloning, gene expression, sequencing, diagnosis, and genotyping. The two widely accepted technologies of PCR in the areas of research and diagnosis are quantitative polymerase chain reaction (qPCR) and digital polymerase chain reaction (dPCR).
Technavio’s research analysts categorize the global quantitative polymerase chain reaction market into the following segments by regions:
Americas: largest qPCR market
“Factors such as the increase in public and private funding and increasing financial support from prominent funding agencies and federal institutions for the R&D of innovative qPCR are driving the market growth in North America. Thus, the major pharmaceutical and biotechnology companies are preferring to use advanced qPCR technologies and products, as they provide highly accurate, specific, and productive results,” says Amber Chourasia, a lead analyst at Technavio for research on lab equipment.
The qPCR market in the Americas is growing moderately due to the developed healthcare infrastructure and the presence of many pharmaceutical companies in the countries such as the US. The presence of a high number of pharmaceutical companies has led to the increased number of tests using various qPCR techniques related to new drug development and disease diagnosis, thus increasing the demand for qPCR in the region.
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qPCR market in EMEA
“The outbreak of various diseases and scope of research in this region have led to the development of research laboratories and pharmacogenomics. This growth will lead to a rise in the demand for the qPCR market,” says Amber.
Europe leads the qPCR market in EMEA. Countries such as the UK, France, Italy, and Germany contribute the highest revenue in Europe. Many global and regional vendors are actively investing in the form of funding projects and research grants to develop PCR-based solutions related to various fields including agriculture and disease diagnosis. These are contributing toward the growth of the PCR technologies like qPCR.
qPCR market in APAC
The qPCR market in APAC is growing rapidly due to the increased investment in research by the governments in this region and the increased outsourcing activities by the vendors to the CRO industry to meet the increased demand. The CROs generally prefer to use the qPCR technology for rapid and accurate results to meet the high demand from the end-users. Moreover, the CRO industry is expanding its business in APAC, as the vendors are trying to reduce the cost of ownership by getting the tests and diagnostics done by the CROs.
The migration of R&D facilities to APAC by major vendors to penetrate the market with the solutions based on the requirements of APAC end-users at affordable prices will also be a driving factor for the growth of the market during the forecast period.
The top vendors in the global qPCR market highlighted in the report are:
- Agilent Technologies
- Bio-Rad Laboratories
- Thermo Fisher Scientific
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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