(I-BusinessNews.Com, June 23, 2021 ) According to research report qPCR reagents market is poised to reach $1,893.9 Million by 2021, growing at a CAGR of 7.7%.
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Market growth can be attributed to factors such as rising patient population base for infectious diseases & genetic disorders, technological advancements in the life sciences sector, coupled with growing geriatric population, increasing public-private investments, funds, and grants for PCR-based research, and the successful completion of the human genome project. However, technical limitations associated with qPCR are restraining the growth of this market.
The other key players in this market include Bio-Rad Laboratories Inc. (U.S.), Qiagen N.V. (Netherlands), Takara Bio (Japan), Affymetrix Inc. (U.S.), F. Hoffmann-La Roche, Ltd. (Switzerland), Agilent Technologies Inc. (U.S.), Promega Corporation (U.S.), Sigma-Aldrich Corporation (U.S.), and Quanta Biosciences Inc. (U.S.), among others.
Thermo Fisher Scientific (U.S.) dominated the global qPCR reagents market. Over the past three years, the company adopted product commercialization, agreements, collaborations, geographic expansion, and awareness campaigns as key business strategies to maintain its position in the market.
On the basis of packaging type, the qPCR reagents market is classified into two major segments core kits and mastermixes. The qPCR core kits segment is expected to account for the largest share of the global market, by packaging type, in 2015. Its large share is propelled by factors such as low prices of core kits (as compared to mastermixes), flexibility offered to end users (as it is best suited for researchers to develop independent reaction protocols), growing private-public funding for life science research, and increasing market availability of qPCR core kits across major countries.
On the basis of end user, the market is classified into five segments hospitals and diagnostic centers, research laboratories and academic institutes, pharmaceutical and biotechnology companies, clinical research organizations, and forensic laboratories. The hospitals and diagnostic centers segment is expected to account for the largest market share of qPCR reagents market, in 2015. The dominant market position of hospitals and diagnostic centers can be attributed to strengthening healthcare infrastructure for efficient disease diagnosis & treatment, increasing number of qPCR reagents launched for diagnostic applications, and benefits offered by qPCR in disease diagnosis.
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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, ongoing product advancements in the field of qPCR reagents, increasing public & private funding to expand the application base of qPCR and continuous reduction in the average cost of genome sequencing are driving the growth of the North American market.
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