Virtual mapping to drive the Digital PCR Market at a CAGR of 9.3%

The healthcare vertical is witnessing an ever-increasing need for automation, thereby leading to quick service provision for bridging existential gap between medical professionals and users. One of the most profit-making healthcare technologies is Artificial Intelligence, which enables automated service provision. The application areas include collection, management, and processing a huge quantity of user data. This would be the behaviour of the Digital PCR Market in the forecast period. Digital PCR Market Share, Growth, Trends And Forecast To 2031| value of US$ 347 Mn at a CAGR of 9.3%

The global digital PCR market is worth more than US$ 132 Mn at present. Demand for digital PCR is estimated to surge at a CAGR of 9.3% with an estimated value of US$ 347 Mn by 2031. User-friendly instruments of digital PCR, novel applications of digital PCR, and automation in advanced digital PCR instruments are some of the key trends in the market.

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Digital PCR, or dPCR, is a new quantitative PCR method that enables ultrasensitive and reproducible detection as well as quantification of nucleic acid. It is an alternative method to conventional real-time qPCR, where the amplification reaction remains same but the method of quantifying the target sample differs.

Rising awareness about advanced molecular diagnostics is set to enhance the utilization of dPCR. Molecular diagnostics, specifically nucleic acid-based techniques for the detection of infectious diseases are rapidly growing approaches in clinical diagnostic laboratories. These techniques have been evolving since their development, including advances in digital PCR technologies that can now aid in the precise diagnosis of life-threatening diseases such as cancer and Ebola. There are several digital PCR-based diagnostic kits and assays for multiple diseases that have been introduced in molecular diagnosis over the previous decade.

Increasing global funding in research & development is adjacent to driving the demand of digital PCRs. Application of PCR-based techniques in drug discovery, genomics, and personalized medicine has augmented its penetration to reach the field of point-of-care molecular diagnostics. To address the global disease burden, there is a recent surge in the expenditure that contributes to the research and development of disease-related scientific studies. The trend is also encouraging molecular diagnostic manufacturers to invest more and support ongoing research in government and non-profit organizations.

Additionally, the National Institute of Health (NIH) has started the precision medicine initiative to address the issues and time associated with disease diagnosis and treatment. As opposed to the 'one-size-fits-all' treatment approach, precision medicine is an innovative approach that considers variety in people's genes, environments, and lifestyles. Implementation of precision medicine has led to new discoveries and several FDA approvals for treatments pertaining to specific characteristics of an individual.

Company Profiles:

Bio-Rad Laboratories, Inc.
Agilent Technologies
Thermo Fisher Scientific Inc.
Fluidigm Corp
Formulatrix, Inc
JN Medsys
ADJUST

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Key Takeaways from Market Study

By product, instruments are expected to hold over 70% market value share by the end of 2031, primarily because of the presence of key market players for production worldwide.

Based on application, basic research is leading with nearly 35% market share, owing to extensive research opportunities in infection diagnosis and drug discovery.

Research institutes dominated the end-user segment with a share of around 69.4% in 2020, due to increasing number of molecular biology companies focusing on infection diagnostics after the COVID-19 pandemic.

By region, North America is slated to be the largest market with a value share of 35% by the end of the forecast period (2021 to 2031).

"Advancements in technology and application of digital PCR in drug discovery are anticipated to propel demand for as a measure for disease detection and prevention," says an analyst of Persistence Market Research.

Market Competition

Acquisitions, mergers, expansions, and product launches are the key strategies adopted by manufacturers to increase their consumer base across geographies.

On October 28, 2021, Bio-Rad Laboratories projected a growth rise in Q3 revenue after acquisition of dPCR maker, Dropworks.
On September 20, 2021, Thermofisher launched the Applied Biosystems QuantStudio Absolute Q Digital PCR System, the first fully integrated digital PCR (dPCR) system designed to provide highly accurate and consistent results within 90 minutes.

On January 14, 2019, Qiagen NV agreed to acquire certain molecular testing assets from Formulatrix Inc., including the CONSTELLATION® series of instruments.

What Does the Report Cover?

Persistence Market Research offers a unique perspective and actionable insights on the digital PCR market in its latest study, presenting historical demand assessment of 2016 - 2020 and projections for 2021 - 2031.

The research study is based on the product (instruments, consumables, and service), application (clinical diagnostics, basic research, applied research, and forensic testing), and end user (pharmaceutical companies, research institutes, forensic labs and agriculture companies), across seven key regions of the world.

Key geographies evaluated in this report are:
North America - U.S, Canada
Europe - France, Germany, Italy, Spain, and the UK, Eastern Europe, CIS
APAC - China, India, Japan, Australia, Others
Latin America - Argentina, Brazil, Others

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This release was published on openPR.