New York, United States , July 26, 2024 (GLOBE NEWSWIRE) -- The Global RT-PCR Test Kits Market Size Expected to Grow from USD 3.98 Billion in 2023 to USD 7.12 Billion by 2033, at a CAGR of 5.99% during the forecast period 2023-2033.
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RT-PCR kits will only be used to detect, identify, and diagnose infectious diseases, namely infections. An excellent illustration of the exponential surge in demand is the COVID-19 epidemic. To put it plainly, one of the riskiest humanitarian disasters in recent memory was the epidemic. As things stand right now, there are more than 600 million cases of infection. As it happens, the fatality rate has decreased significantly due to the easily accessible rapid diagnostic kits that allow for early illness detection and suitable treatment. With lockdowns growing more widespread globally, RT-PCR kits will become more and more necessary as the patient count increases. The WHO reports that 424,822,073 COVID-19 infections were reported as of February 2022. The increase of COVID-19 cases is increasing demand for RT-PCR kits, which is contributing to higher market projections. The food microbiology area has been using the kits more frequently to identify food adulteration, which is expected to increase market demand. However, the market for RT-PCR test kits may decline as the pandemic spreads over the world since there will likely be less demand for testing.
Browse key industry insights spread across 213 pages with 110 Market data tables and figures & charts from the report on the "Global RT-PCR Test Kits Market Size, Share, and COVID-19 Impact Analysis, By Type (One-step Real Time PCR, Two-step Real Time PCR), By Application (Microbiology, Oncology, Gene Therapy, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The one-step real time PCR segment is expected to hold the largest share of the RT-PCR test kits market during the anticipation timeframe.
Based on the type, the RT-PCR test kits market is categorized into one-step real time PCR, and two-step real time PCR. Among these, the one-step real time PCR segment is expected to hold the largest share of the RT-PCR test kits market during the anticipation timeframe. The one-step RT-PCR was created to make RT-PCR RNA molecule detection and analysis simple, accurate, and repeatable. For cDNA synthesis and PCR, target RNAs from total RNA or mRNA are mixed with gene-specific primers in a single tube.
The gene therapy segment is expected to grow at the fastest CAGR during the anticipation timeframe.
Based on the application, the RT-PCR test kits market is categorized into microbiology, oncology, gene therapy, and others. Among these, the gene therapy segment is expected to grow at the fastest CAGR during the anticipation timeframe. The reaction and the associated laboratory protocols that are necessary for ensuring a successful PCR run are among the many areas in which this process is tightly regulated. To measure vectors containing different promoters and genes of interest, generic primer/probe sets have been developed.
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North America is projected to hold the largest share of the RT-PCR test kits market over the anticipation timeframe.
North America is projected to hold the largest share of the RT-PCR test kits market over the anticipation timeframe. Rising healthcare costs and the occurrence of COVID-19 infections are expected to boost the market outlook over the forecast period. The high number of COVID-19 infections in the area created a need for RT-PCR diagnostic kits. Because of this, regulatory agencies such as the U.S. FDA and Health Canada frequently grant coronavirus test kits Emergency Use Authorizations (EUA) in order to boost testing capacity and promote regional growth.
Asia Pacific is expected to grow at the fastest CAGR growth of the RT-PCR test kits market during the anticipation timeframe. The Asia Pacific region has seen a significant increase in healthcare spending due to many factors, including the middle-class population's increasing disposable income and the ongoing economic growth of several Asia Pacific countries.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global RT-PCR test kits market are Thermo Fisher, Hologic, LabCorp, Quidel Corporation, Abbott, Qiagen, Cellex, Roche, BioMedomics, BD, AB Analitica, Altona Diagnostics GmbH, Ampliqon, Elisabeth, Fuj, and others.
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Recent Developments
- In December 2023, The HiGenoMB RT-PCR kits from HiMedia Laboratories can identify the SARS-CoV-2 JN.1 variation, which is a subtype of the Omicron BA.2.86 (Pirola) variety. The JN.1 variant has been identified as a variant of concern due to its capacity to elude the immune system, and it is the source of an increasing number of cases worldwide.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global RT-PCR test kits market based on the below-mentioned segments:
Global RT-PCR Test Kits Market, By Type
- One-step Real Time PCR
- Two-step Real Time PCR
Global RT-PCR Test Kits Market, By Application
- Microbiology
- Oncology
- Gene Therapy
- Others
Global RT-PCR Test Kits Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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