This RT-PCR Kits market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving RT-PCR Kits market.
RT-PCR kits are finding extensive applications on the back of factors such as the rising incidences of infectious diseases and genetic disorders. As technological advancements continue to empower the RT-PCR kits, coupled with increasing investments in research and development activities, the market is witnessing positive growth.
COVID-19 Pandemic to Remain Key Growth Influencer in Near Term
While the market is set for gradual growth in the foreseeable future, the recent outbreak of COVID-19, which has metamorphosed into a global pandemic is certain to assert influence on the market. Moreover, there is a continual demand for effective detection techniques on the back of rising cases of major infectious diseases such as HIV, tuberculosis, malaria, hepatitis, and Staph-related diseases, and genetic disorders such as cancer and syndromes. For instance, according to the World Health Organization, approximately 219 million cases of malaria were reported around the world in the year 2018, with 92% cases in the African subcontinent alone. Statistics such as these significantly propel the demand for the RT-PCR kits.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
RT-PCR Kit - A Highly Sought-out Methodology
Reverse Transcription-Polymerase Chain Reaction (real-time RT-PCR) is a nuclear-based method, used to detect the presence of genetic materials such as pathogens, viruses, and microorganisms, among others. Regardless of where the contamination is, RT-PCR kits will detect the foreign body. The increasing adulteration of food products and the growing need for accurate diagnosis are creating potential growth opportunities for real-time PCR system manufacturers. A kit using the real-time RT-PCR method is considered one of the most accurate methods to track, detect, and study contagious viruses such as the coronavirus.
Furthermore, the RT-PCR technique is capable of delivering accurate diagnosis at a quick turnaround time, usually half the time it takes in laboratories. With the mounting cases of COVID-19 around the world, the need for quick and efficient testing is intensifying and the RT-PCR kit is the most sought-out methodology in the health-care industry, thereby creating a spike in the demand for these kits.
North America Exhibits Dominance Backed by High Adoption Rate; Europe Follows Closely
North America is currently dominating the global RT-PCR kit market and is expected to maintain its supremacy in the future. The region is invigorated by factors such as high spending on healthcare, increased adoption of the novel kits, availability of R&D grants, and commercialization of the kits. Closely following North America is Europe, which is the second most lucrative region for manufacturers in the RT-PCR kit market, backed by the healthy presence of testing laboratories, research facilities, and pharmaceutical industries. Likewise, Asia Pacific is also expected to create substantial revenue opportunities owing to the investments in the research and development sector in the emerging economies.
Quantitative Kits Lead Market While Digital Kits Gain Traction
The Real-time PCR Kit market is bifurcated into quantitative and digital segments based on the technology, with the quantitative segment holding the lion's share in market value in 2018 owing to a higher adoption rate. However, the digital type PCR is growing in terms of value and volume at a higher rate. The digital systems bestow higher sensitivity and accuracy as compared to quantitative PCR approaches. Backed by the aforementioned advantages, the digital PCR segment is expected to attain a significant market value by the end of the forecast period.
A Wide Array of Applications Pushing the Demand
The RT-PCR kits have been utilized in a wide array of applications in both basic and diagnostic research. Some of the major end-use applications are human genetic testing, forensic sciences, pathogen detection, oncology testing, blood screening, and infectious disease testing. Additionally, the kits have been gradually gaining traction in applications in the food microbiology segment to identify adulteration of food, which is expected to propel the market demand.
COVID-19 Influence Propelling Demand for RT-PCR Kits
As the COVID-19 pandemic has permeated into every corner of the world, the need for the efficient testing technique and kits is higher than ever. The IAEA, in partnership with the Food and Agriculture Organization of the United Nations (FAO), is extending its support and expertise to help various countries to use real-time polymerase chain reaction, which is one of the most accurate laboratory methods for detecting, tracking, and studying the coronavirus. To detect coronaviruses early in the body using real-time RT-PCR, scientists need to convert the RNA to DNA. This is a process called 'reverse transcription', thus giving the name Reverse Transcription- Polymerase Chain Reaction (real-time RT-PCR) to the kit.
Opportunities Abound in RT-PCR Kit Market Landscape amid COVID-19 Pandemic
Currently, the RT-PCR kits for diagnosis of COVID-19 are being procured from the U.S. and supplied to government testing laboratories across the country. This is creating substantial revenue opportunities for manufacturers. Recently, the government has allowed two private companies - MyLab, an Indian organization, and German-based Altona Diagnostics - to supply COVID-19 test kits to both the government as well as private testing laboratories. Moreover, two South Korean firms, namely Seegene and SD Biosensor received approval to supply RT-PCR based COVID-19 diagnostic kits in India. Additionally, the Indian government approved 12 rapid antibody test kits for COVID-19 diagnosis. Such initiatives are giving a significant boost to the market.
Competitive Landscape of RT-PCR Kits Market
Some of the key players in the RT-PCR kit market are F. Hoffman-La Roche Ltd., Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Qiagen N.V,, Takara Bio, Inc., Agilent Technologies, Inc., Biomérieux S.A., Fluidigm Corporation, Danaher Corporation, Abbott Laboratories, Merck KGaA, Becton Dickinson and Company, Promega Corporation, Eppendorf AG, Analytik Jena AG, Meridian Bioscience, Inc., Enzo Life Sciences, Inc., Cole-Parmer Instrument Company Llc, and Bioneer Corporation among others. With mounting cases of COVID-19 and sky-rocketing demand, the market players are racing to expand profit pools. Recent developments in the RT-PCR landscape are:
- In 2019, Qiagen, announced the development of a range of next-generation systems for digital PCR, in the life sciences industry.
- In 2019, Abbott entered into an eight-year partnership agreement with Japanese Red Cross Society (JRC) to develop serological instrumentation, tests, and consumables used for blood and plasma screening in Japan.
Unique Requirements? Customize this Report
- Customize by Region, Country, Application, Product, & other segments
- Integrate our Insights with your Existing Data
- Determine the scope of the study to suit your requirements
Let FMI Help You!
- Gain Insights on Key RT-PCR Kits Market Impacting Forces
- Know the Winning Strategies of Market Leaders
- Get Deep-Dive Analysis on Each Segment
- Identify the Sources that will Drive Top-Line Revenue
Key Taxonomy: Global RT-PCR Kits Market
The global market for RT-PCR kits is broadly categorized into various segments, by the type of kit, application, end user, and region.
On the basis of kit type
On the basis of Application
- Human Genetic Testing
- Infectious Diseases Testing
- Oncology Testing
- Blood Screening
- Diagnostic Research
On the basis of End-User
- Hospitals and Diagnostic Centers
- Research Laboratories and Academic Institutes
- Pharmaceutical and Biotechnology Companies
- Clinical Research Organizations
- Forensic Laboratories
On the basis of Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Report Highlights: RT-PCR Kit Market
- An overview of evolving market dynamics in the RT-PCR kit market
- Detailed segmentation of RT-PCR kit market
- Historical, current, and prospective examination of market size in terms of value and volume
- Recent developments and influential trends in RT-PCR kit market
- Opportunity assessment of RT-PCR kit market
- Competitive landscape analysis of RT-PCR kit marketplace
- Key player developments in RT-PCR kit market space
- Niche and potential segments of RT-PCR kit market that reflect promising opportunities
- A neutral perspective on the entire RT-PCR kit market performance over the forecast period
- Must-have insights in-the-bag for RT-PCR kit market players
Frequently Asked Questions
Why choose FMI?
- With a global presence and a trusted partner to several Fortune 500 firms, FMI covers 1 billion+ data points to build a diversified portfolio for market benchmarking
- Market Reports researched and peer reviewed by industry experts from across the globe
- We follow a multi-dimensional method of analysis monitoring a three-layer data validation process
- In addition to demand-side market assessment, our data triangulation methodology involves supply-side research
- Primary research includes mandatory field interviews with stakeholders involved
- Customizing reports according to client specification is also our forte
What will you discover from RT-PCR Kits Market report?
- The current and future market size, covering each aspect and nuanced trends across key national and geographic markets
- An overview of the market report, providing an imperative visual of the varied market subdivisions and overall forecast statistics in terms of value and volume
- Extensive database and key dynamics elevating the market with varied verticals associated
- Underlying RT-PCR Kits Market forces that are compelling consumers or businesses to purchase the product
- How novel technologies and consumer-centric innovations will create new value-adding opportunities for companies active in the RT-PCR Kits Market
- What will be environment and regulatory impacts on the market over the next decade
Which framework has been used to develop the RT-PCR Kits Market report?
- Investment Feasibility Matrix - It shows returns on investment, level of competition, success rate of investment, and potential risks associated with the market. The analysis shows that the competition is high in the established market, while the returns for short-term investment are also taken into consideration
- Relative Maturity Mapping – The relative maturity is measured according to three growth phases (growth, maturity, decline)
- Relative PLC (Product Life Cycle) – Analysis of the emergence of prominent players and competitive test prices which are driving factors behind every market. (expected market behavior, observed market behavior, expected market performance, observed market performance)