Europe Real Time Polymerase Chain Reaction (Qpcr) Market is expected to reach over USD 395.8 million by 2022, according to a new report by Grand View Research Inc. Technological advancements on the grounds of accuracy, portability, and cost-effectiveness are expected to serve this market as high-impact rendering drivers over the forecast period. For instance, Applied Biosystems has QuantStudio Dx series for rapid and affordable diagnosis of molecular abnormalities at early stage of diseases development.
Increasing
amount of R&D expenditure by the major players and development of novel
assay kits are expected to provide potential growth platform for adoption of
qPCR instruments for diagnostic use.
Growing
prevalence of cancer and other chronic diseases is anticipated to be the key
driver for the industry growth. Moreover, growing geriatric population base in
EU-28 countries is expected to increase age-related conditions such as diabetes
and cardiovascular disorders.
Furthermore,
major pharmaceutical companies are entering into collaborations with diagnostic
instrument development companies through mergers and acquisitions or co-product
development activities. For instance, in 2011, Life Technologies signed an
agreement with GSK Biologicals to develop a companion diagnostic test. Life
Technology will develop a qPCR based diagnostic assay for GSK’s MEGA-A3 cancer
immunotherapy.
Emerging
opportunities for both companies for development of products pertaining to
early detection of diseases such as cancer and infectious diseases are
estimated to enhance such collaborative activities over the forecast
period.
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Further key findings from the study suggest:
- Thermo
Fisher/ABI dominated the market with a revenue share of over 38% in 2014
owing to high installed base of instruments such as StepOne, 7500, ViiA 7,
and QuantStudio from ABI
- Bio-Rad qPCR
instruments market is the second largest in terms of revenue share over
USD 7.0 million in 2014. Presence of licensing agreement with companies
such as Mobidiag in Europe for the distribution Bio-Rad qPCR instruments,
availability of user-friendly software and good technical support are some
factors attributing for its high market coverage.
- Thermo
Fischer Scientific, Roche, Bio-Rad, and Qiagen accounted for over 84% of
market share in 2014. Product development and distribution agreements are
the key strategies adopted by the company for its growth. Whereas, the
four countries namely UK, Germany, Spain and France covered around 56% of
the total European market for qPCR used as IVD platform in 2014.
- Germany
dominated the European market with revenue of around USD 9.5 million in
2014. It is estimated to be one of the major countries for use of In-Vitro
Diagnostics (IVD) platform in Europe.
- The UK is
expected to witness significant growth with a CAGR of around 13% over the
forecast period owing to rising prevalence of target diseases and
introduction of new automated technologies.
- Countries
such as France and Spain are experiencing economic growth over the past
few years; these countries are expected to offer immense potential for
Europe real time PCR industry mainly due to growing economy and high unmet
needs
- Market
participants are constantly engaged in the introduction of technological
advancements. The real time PCR instruments market involves extensive
technological advancements to match user requirements.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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