PCR and Real-time PCR Molecular Diagnostics Market to Hit US$ 7.5 Billion by 2033, States Fact.MR

The rise in demand for accurate and rapid diagnostic techniques, especially in infectious diseases is expected to boost the adoption of PCR and Real-time PCR Molecular Diagnostics

Rockville, Sept. 18, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global PCR and Real-time PCR Molecular Diagnostics Market is expected to reach US $7.5 Bn by the end of 2033 as it rises to a CAGR of 4.1%.

PCR (Polymerase Chain Reaction) and Real-time PCR (Quantitative Polymerase Chain Reaction) are advanced techniques used in molecular biology to study DNA and RNA. PCR amplifies specific genetic material, even in tiny amounts, while Real-time PCR not only does this but also measures the exact quantity. These methods are incredibly precise, ensuring only the desired DNA or RNA is studied.

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Key Segments of PCR and Real-time PCR Molecular Diagnostics Industry Research Report

The growth of the PCR and Real-time PCR Molecular Diagnostics Market is primarily driven by the increasing demand for precise and rapid diagnostic tools, particularly in infectious disease detection. The COVID-19 pandemic accelerated this trend, highlighting the critical role these techniques play in diagnosing diseases swiftly and accurately.

Key Takeaways:

• North America is expected to hold a 60% share of the global market due to multiple product launches and good growth in the healthcare industry.
• The market share of digital PCR is expected to be around 50% due to growing usage in clinical research and drug development
• The market in Germany is expected to witness a good growth rate during the forecast period due to the high standard of living and ongoing reductions for gene sequencing.
• Hospitals hold a 40% share of the global market due to a rising focus on delivering high-quality healthcare.

The PCR and Real-time PCR Molecular Diagnostics Market is driven by a high demand for accurate and rapid disease diagnostics, advancements in technology and automation, and expanding applications in healthcare and research. - Says Fact.MR Expert

Market Competition

The PCR and Real-time PCR Molecular Diagnostics Market is highly competitive, with several prominent players competing for market dominance. Key players include Thermo Fisher Scientific, Roche Diagnostics, Bio-Rad Laboratories, Qiagen, Agilent Technologies, BioMérieux, Abbott Laboratories, Hologic, and Cepheid (now part of Danaher Corporation).

• In March 2020, Biorad Laboratories collaborated with global testing facilities to create and deploy RT-PCR products for coronavirus detection, with notable utilization at Assurance Scientific Laboratories in Birmingham, Alabama, employing Biorad's CFX384 touch real-time PCR detection systems.

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Winning strategies

• In this industry, it's crucial for companies to use advanced analytics and AI. These technologies help make sense of the large amounts of data generated during DNA analysis processes. PCR amplifies specific DNA segments, while Real-time PCR measures and quantifies DNA in real-time. Companies can uncover important patterns and insights from this data by applying advanced analytics and AI.
• Actively seeking and using customer feedback is needed for businesses. This means asking customers for their opinions and using that information to make the product better. It involves improving features, making it easier to use, and ensuring customers are happy with it. This feedback helps companies understand what customers like and what needs to be fixed. It also builds trust and loyalty.
• To stay competitive and meet customer needs, it's important for businesses to regularly update their products. This means adding new features, making them work better, and including extra functions. These improvements keep the product up-to-date and appealing.

The growth of the market in the United States is linked to the rising uptake of advanced genomic analysis tools, supportive regulations, government initiatives to enhance healthcare infrastructure, and the availability of research and development grants. Additionally, the increasing incidence of genetic diseases and the notable presence of established companies are driving the market's worth in the United States.

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About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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