Global PCR And Real-Time PCR Molecular Diagnostics Market Is Set To Reach New Heights, Surpassing An Impressive Revenue Threshold In The Coming Decade

Healthcare

According to statistics from the World Health Organization, illnesses like cancer and HIV are to blame for millions of deaths each year. Furthermore, the current COVID-19 viral outbreak has increased demand dramatically for efficient diagnostic procedures. Due to investments made by PCR diagnostic test manufacturers in the incorporation of molecular testing technologies for quick real-time results and automated operations, with little risk of false positives and negatives, the PCR and real-time PCR molecular diagnostics market has been gaining traction in recent years.

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Key Takeaways from PCR and Real-time PCR Molecular Diagnostics Market Report

  • Real-time PCR technologies are estimated to hold major market share, supported by higher research & development investments by market players and improved awareness about molecular diagnostics among patients and healthcare professionals.
  • North America is the leading regional markets for PCR and real-time PCR molecular diagnostics, followed by Europe, owing to faster regulatory approvals and access to new healthcare technologies.
  • Oncology diagnostics is expected to surge in the near future driven by growing number of patients and investments towards modernization of healthcare facilities with government aid, providing impetus to the PCR and real-time PCR molecular diagnostics market in emerging economies.
  • The COVID-19 outbreak, which has had a worldwide impact, is projected to positively influence the prospects of the PCR and real-time PCR molecular diagnostics market, aided by emergency authorization for new products being given by regulatory bodies.

“Widespread incidence of target ailments, including cancer and COVID-19, coupled with technological advancements for faster results and automated work processes are likely to provide leverage to the PCR and real-time PCR molecular diagnostics market in the long term,” says a Fact.MR analyst.

Key Players Focus on New Product Launches and Regulatory Approval

Abbott Laboratories, Elekta AB Bio-Rad Laboratories Inc., bioMerieux SA, Danaher Corporation, Thermo Fisher Scientific Inc., Becton, Dickinson and Company, F.Hoffmann-La Roche Ltd., Qiagen NV, Hologic Inc, Grifols SA, Genomic Health,  and Seegene Inc. are some of the more prominent players operating in the PCR and real-time PCR molecular diagnostics market. Leading market players have been observed investing significant resources towards product development and launch strategies, and pushing for faster regulatory approvals to gain an edge over the competition. Market players are also focused on leveraging short term opportunities arising from the COVID-19 pandemic.

  • For instance, in October 2020, Abbott Laboratories announced the receipt of FDA approval for its PCR covid-19 antigen test, under emergency use authorization, for the company’s BinaxNow COVID-19 Ag Card, which provides rapid results similar to an over-the-counter pregnancy test.
  • BioMérieux has also announced regulatory clearance for its Vitek 2 AST Gram Negative Ceftazidime test, to trace gram-negative bacilli bacteria, which is compatible with the company’s proprietary Vitek 2 Compact and Vitek 2 molecular diagnostics platforms.
  • Similarly, Roche Diagnostics has also received FDA approval for its Cobas RT-PCR test, aimed at detecting the BK virus, which is designed to run alongside the business’ Cobas 8800 and 6800 diagnostic platforms.

 

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