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PCR And Realtime PCR Testing Market 2024-2033: Business Growth, Insights, Latest Trends And Major Players
PCR And Realtime PCR Testing Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the PCR And Realtime PCR Testing industry. This report on PCR And Realtime PCR Testing Market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The PCR and realtime PCR testing market size has grown strongly in recent years. It will grow from $20.86 billion in 2023 to $22.03 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to disease diagnosis, research and genomic studies, automation and high throughput, pharmaceutical and biotechnology applications, point-of-care testing.
The PCR and realtime PCR testing market size is expected to see strong growth in the next few years. It will grow to $27.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to pandemic response, precision medicine, cancer diagnostics, infectious disease surveillance. Major trends in the forecast period include infectious disease testing, point-of-care testing, digital pcr, multiplex assays.
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Key Market Players:
Abbott Laboratories, Agilent Technologies Inc., bioMérieux SA, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd., QIAGEN N.V., GenMark Diagnostics Inc., Thermo Fisher Scientific Inc., General Electric Company.
Market Drivers:
According to the PCR And Realtime PCR Testing Market Report 2024 by The Business Research Company, the rising approvals for personalized medicines are expected to propel the PCR And real-time PCR testing market going forward. Personalized medicines refer to therapeutic products or treatments tailored to the individual patient. They are designed based on a patient's genetic, biomarker, phenotypic, or psychosocial characteristics that can predict an individual's response to a treatment. PCR and Real-Time PCR in personalized medicine enables the precise identification of genetic variations, which helps tailor treatments to individual patient needs and optimize therapeutic outcomes. For instance, in 2021, according to The Personalized Medicine Coalition, a U.S.- organization promoting the adoption of personalized medicine, the FDA's CDER approved 50 new molecular entities (NMEs), out of which 17 (35%) were classified as personalized medicines by the personalized medicine coalition. Therefore, the rising approvals for personalized medicines drive the PCR And real-time PCR testing market.
More information about the Global PCR And Realtime PCR Testing Market Report -
https://www.thebusinessresearchcompany.com/report/pcr-and-realtime-pcr-testing-global-market-report
Market segments for template include:
1) By Product: Consumables And Reagents, Instruments, Software And Services
2) By Technology: Quantitative PCR, Digital PCR
3) By Application: Clinical Diagnostics, Life Science Research, Industrial Applications, Other Applications
4) By End-Use: Academic And Research Institutes, Pharmaceutical And Biotechnology, Clinical Diagnostics Labs And Hospitals, Other End Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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