On a global scale, both government and private entities are scaling their investments and research efforts in medical technologies and novel drug discovery. With the rapidly rising incidence of infectious and chronic diseases, the demand for personalised medicines and sophisticated medical equipment has also been increasing. In this context, the digital PCR market is predicted to witness sustained growth in the foreseeable future. The demand for digital PCR is expected to augment due to its diverse applications in research and forensic labs, clinical settings, and academic institutions. Moreover, the steadily rising demand for advanced diagnostics, particularly for prenatal genetic testing to detect hereditary diseases, is set to unlock new revenue streams in the digital PCR market. Additionally, the introduction of portable and user-friendly equipment for point-of-care testing is expected to impact RD and product innovation among industry leaders. The cumulative force of these factors is poised to drive the global digital PCR market to robust maturity.
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Growing Demand for Customised Medicines to Influence Market Expansion
The demand for personalised treatments has surged significantly, giving strong momentum to the expansion of the digital PCR market. As consumers are becoming more digitally adept, they are positively embracing novel solutions and customised medications. The FDA’s quick approval of new diagnostic and medical procedures is contributing to enhancing the demand for personalised medicines. Moreover, the advantages of digital devices are anticipated to unlock fresh opportunities for product differentiation and medical innovation. The digital polymerase chain reaction is preferred over real-time devices as it provides a more accurate measurement of target nucleic acid molecules. This enables researchers to evaluate minor mutations and quantify smaller differences. In this context, the demand for digital PCR over traditional RT PCR is set to rise, steering the expansion of the digital PCR market.
Digital PCR Observes Most Significant Applications in Clinical Category
In terms of revenue share, the clinical category is expected to sustain its dominance in the digital PCR market. This can be attributed to factors such as the rising incidence of chronic and infectious diseases and the strong commercialisation of diagnostic reagents. Meanwhile, the consumables and reagents category is poised to attract a higher demand amid the widespread use of consumables and reagents in healthcare delivery and medical research. The favourable advancements in medical innovation, coupled with the sound adoption of emerging tech by big pharma, are anticipated to positively impact revenue generation in the digital PCR market. Given the lucrativeness of this market, industry leaders will invest more in developing novel products to acquire a competitive edge in the global digital PCR market.
Robust Healthcare Ecosystem Gives Impetus to North America’s Digital PCR Market
North America’s digital PCR market is expected to experience steady growth during the forecast period. In this region, growth enablers include a well-informed population, rigorous pursuit of advanced diagnostics, and promising government funding to improve the national healthcare infrastructure. Moreover, steadily rising awareness among patients about the availability of modern diagnostic products is also contributing to North America’s digital PCR market expansion. Other factors aiding market growth are the presence of leading healthcare manufacturers and the soaring demand for rapid diagnostic tests.
Key Market Players
Leading players in the digital PCR market include Formulatrix, Inc., STILLA, Bio-Rad Laboratories, Inc., JN Medsys, Thermo Fisher Scientific Inc., Agilent Technologies, and Fluidigm Corp.
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