RT-PCR Kits Market Growth, Latest Trends, Top Players, Competition, Technological Advancements, Outlook and Forecast 2030

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.

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.

To remain ahead of your competitors, request for a sample – https://www.futuremarketinsights.com/reports/sample/rep-gb-11196

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.

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.

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.