Global PCR & Real-Time PCR Molecular Diagnostics Market
The global PCR & Real-time PCR Molecular Diagnostics market is segmented by key regions. North America is the leading and most significant region for this market, owing to the widespread adoption of advanced Real-Time PCR technology systems and high focus on research and development activities. Asia-Pacific is expected to show the highest growth rate during the forecast period. This report analyzes the global PCR & Real-time PCR Molecular Diagnostics market by region and sub-segment.
According to the report, the global PCR & Real-Time PCR Molecular Diagnostics market was valued at USD 4.10 billion in 2019 and is projected to grow at a CAGR of 4.00% over the next five years. The PCR method is a DNA cloning technique, used to make copies of a deoxyribonucleic acid sequence of interest. The technology has many applications, including hereditary diseases, paternity testing, detection of infectious diseases, and forensic sciences.
PCR molecular diagnostics are increasingly being used to detect a wide range of pathogens in a range of end-use industries. AOAC International recently approved Bio Rad Laboratories' iQ-Check Real-Time PCR kit as a viable approach to detecting Salmonella bacteria in the meat industry. This approved method has made way for more advanced meat pathogen detection techniques. PCR and RT-PCR technologies are both highly sensitive and provide highly accurate results.
Molecular diagnostics has also emerged as a major market driver in the medical field. Increasing prevalence of infectious diseases and cancer is driving the demand for PCR and RT-PCR testing. The Infectious Diseases Society of America states that there is a high likelihood of a new pathogen emerging every year, according to the World Health Organization. Furthermore, according to the American Cancer Society and the International Agency for Research on Cancer, 17% of all infectious diseases are vector-borne, and thus the need for rapid diagnosis is greater than ever. Learn more about CLIA Waived Moderate and Highly Complex laboratories on this site.
In addition to these companies, F. Hoffmann-La Roche AG, BioMerieux SA, Abbott Laboratories, Becton, Dickinson & Company, and Siemens Healthcare GmbH are other key players in this industry. The company's growth is largely fueled by the growth of the European Clinical Molecular Diagnostic market. The market in Asia-Pacific is projected to grow at the highest CAGR in the forecast period.
Molecular diagnostics based on PCR are an essential tool for detecting infectious diseases and chronic diseases. The World Health Organization reports cancer as the leading cause of death in 2018. Using RT-PCR tests, doctors can easily identify small tumor cells in the body and predict the response to chemotherapy. Moreover, these tests are also effective in detecting infectious diseases like Hepatitis C and HIV/ADIS. Explore more about molecular diagnostic here: https://en.wikipedia.org/wiki/Molecular_diagnostics.
