(I-BusinessNews.Com, September 05, 2020 ) Factors such as rising patient population base for infectious diseases & genetic disorders, coupled with growing geriatric population, technological advancements in the life sciences sector, increasing public-private investments, funds, and grants for PCR-based research, and the successful completion of the human genome project are driving the growth of qPCR reagents market.
According to research report qPCR reagents market is poised to reach $1,893.9 Million by 2020 From USD 1,307.0 Million in 2015, growing at a CAGR of 7.7%, during 2015 to 2020.
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The qPCR reagents that are used for pathogen detection, forensic applications, and disease diagnosis offer a promising future to market aspirants focusing on expanding their revenue base in the market. Their growth is propelled by the increasing R&D to develop and commercialize novel products, growing market adoption of gene-based diagnostic techniques, and rising emphasis on effective & early disease diagnosis across major markets. Several companies such as Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., QIAGEN N.V., F. Hoffmann-La Roche Ltd., Agilent Technologies Inc., and Takara Bio are investing in these high-growth markets to gain higher profits and to increase their shares in the global qPCR reagents market.
On the basis of detection method, the global qPCR reagents market is classified into two segments, namely, dye-based and probe & primer-based qPCR reagents. qPCR reagents market has been further divided on the basis of packaging type (core kits and mastermixes), end user (hospitals and diagnostic centers, research laboratories and academic institutes, pharmaceutical and biotechnology companies, clinical research organizations, and forensic laboratories), and application (diagnostic, research, and forensic).
Thermo Fisher Scientific (U.S.), Bio-Rad Laboratories Inc. (U.S.), Qiagen N.V. (Netherlands), F. Hoffmann-La Roche, Ltd. (Switzerland), Agilent Technologies Inc. (U.S.), Takara Bio (Japan), Affymetrix Inc. (U.S.), Promega Corporation (U.S.), Sigma-Aldrich Corporation (U.S.), and Quanta Biosciences Inc. (U.S.), are some of the key players operating in the global qPCR reagents market.
Thermo Fisher Scientific Inc. (U.S.) held the leadership position in the global qPCR reagents market, with a share of ~40%,. The company has a broad product portfolio for qPCR reagents, including master mixes, enzymes, nucleotides, primers, reagents, as well as consumables, among others. The company has a strong geographic presence in more than 50 countries across the globe, with key markets being the U.S., China, Germany, and the U.K. The company focuses mainly on the development of technologically advanced qPCR instruments and supporting reagents that can be used for multiple applications. In line with this strategy, Thermo Fisher Scientific has launched several qPCR reagents in the last three years, including SYBR Green master mixes and Taqman qPCR kits, among others.
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North America (particularly the U.S.) is expected to hold the largest share of qPCR reagents market during the forecast period. Factors such as high penetration of qPCR technologies among key end users, increasing public & private funding to expand the application base of qPCR, ongoing product advancements in the field of qPCR reagents, and continuous reduction in the average cost of genome sequencing are driving the growth of the North American market.
Mr. Aashish Mehra
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Mr. Aashish Mehra