Digital PCR Market to Reach $1.30 Bn, Globally, by 2030 at 8.6% CAGR: Allied Market Research
Rise in the prevalence of different types of cancers such as lung cancer, blood cancer, and brain tumor drives the global digital PCR market.
PORTLAND, Ore., April 13, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Digital PCR Market by Technology (Droplet Digital Pcr, Chip Based Digital Pcr, Beaming Digital Pcr), by Product Type (Digital Pcr Systems, Consumables And Reagents, Software And Services), by Application (Research, Clinical Diagnostics, Forensic And Others), by End User (Pharmaceuticals And Biotechnology Industries, Clinical Diagnostic Laboratories, Universities And Other Organizations), : Global Opportunity Analysis and Industry Forecast, 2020-2030." According to the report, the global digital PCR industry was estimated at $508.80 million in 2020, and is anticipated to hit $1.30 billion by 2030, registering a CAGR of 8.6% from 2020 to 2030.
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Drivers, restraints, and opportunities-
Rise in the prevalence of different types of cancers such as lung cancer, blood cancer, and brain tumor drives the global digital PCR market. On the other hand, high cost of digital PCR devices and reimbursement issues with digital PCR devices restrain the growth to some extent. However, surge in R&D activities for advancement in PCR technology and increase in collaboration agreements between companies for development of digital PCR are expected to create lucrative opportunities in the industry.
Covid-19 scenario-
- The outbreak of the Covid-19 pandemic led to a huge increase in demand for highly sensitive molecular diagnostic tools, which in turn, had a positive impact on the global digital PCR market.
- At the same time, imperative requirement of the diagnostic tests for the disease has also given way to increased use of PCR technology and launch of new PCR assay for the detection of the virus.
The droplet digital PCR segment to maintain its lion's share-
On the basis of technology, the droplet digital PCR segment generated the highest share in 2020, holding nearly three-fourths of the global digital PCR market, owing to rise in the R&D activities associated with droplet digital PCR. The chip based digital PCR segment, on the other hand, is expected to cite the fastest CAGR of 9.3% from 2020 to 2030. Increase in clinical trials for application of chip based digital PCR drives the segment growth.
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The digital PCR systems segment to lead the trail-
On the basis of product type, the digital PCR systems segment accounted for the highest market share in 2020, generating more than half of the global digital PCR market, due to increase in number of cancer patients and upsurge in demand for molecular diagnosis. The software & services segment, however, is anticipated to cite the fastest CAGR of 10.0% from 2020 to 2030, owing to advancements in software technology.
North America to dominate by 2030-
On the basis of region, North America contributed to the major market share in terms of revenue 2020, holding nearly half of the global digital PCR market. This is attributed to rise in the prevalence of cancer, presence of key players for development of digital PCR products, and increase in number of hospitals in the region. Asia-Pacific, simultaneously, is projected to cite the fastest CAGR of 10.6% from 2020 to 2030, due to surge in number of hospitals and increase in healthcare expenditure of patients across the province.
Prominent market players-
- Sysmex corporation
- Fluidigm Corporation
- Jn medsys
- Avance Biosciences
- Merck KGAA
- Bio-Rad Laboratories, Inc.
- STILLA TECHNOLOGIES
- Thermo Fisher Scientific, Inc.
- Precigenome LLC
- QIAGEN N.V
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"We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market."
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