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.
Over the last decade, the qPCR industry has witnessed significant technological advancement & robust product development. These advancements are transforming the field of forensic & disease diagnostic application of qPCR; leading to more effective & timely treatment of chronic and infectious diseases (such as cancer, AIDS, influenza, and hepatitis).
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North America and a major part of Europe are mature markets for qPCR reagents. However, emerging regions such as Asia-Pacific (including China and India) are expected to become new revenue-generating pockets in the market over the next five years. The North American qPCR reagents market is expected to hold the largest share during the forecast period owing to 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.
The Asia-Pacific region is expected to witness the fastest market growth for qPCR reagents during the forecast period. Growth in this market is fueled by increasing penetration of global life sciences companies in this region, rising focus of governments on increasing the awareness about gene-based disease diagnosis and treatment, growing public and private support to develop novel qPCR technologies, and advancing cancer research in Japan.
Due to the significant growth opportunities offered by emerging countries, a number of players operating in the market are focusing on expansion in these regions. For instance, in November, 2012, Thermo Fisher Scientific established a manufacturing facility in Suzhou (China) with an investment of USD 20 Million. The facility is involved in the manufacturing of life science equipment and consumables (including qPCR reagents) and caters to the life science & pharmaceutical industry. Similarly, in August, 2012, Bio-Rad Laboratories established the Digital Biology Center (U.S.) to develop innovative PCR products based on the company’s droplet partitioning technology.
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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.