Market Research Report
Impact of COVID-19 on Global Digital PCR Industry
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|Impact of COVID-19 on Global Digital PCR Industry|
|Published: March 1, 2020||Content info:||
Global Digital PCR (dPCR) and Real-Time PCR (qPCR) Market Size, Share & Trends Analysis Report by Technology (Quantitative PCR and Digital PCR) by Product (Instruments, Reagents & Consumables, and Software & Services), Impact of COVID-19 on Global Digital PCR Industry, and Forecast 2019-2025
Global Digital PCR (dPCR) and Real-Time PCR (qPCR) products is expected to show a huge demand due to the COVID-19 pandemic all across the globe. PCR that is polymer chain reaction is an approach used for the detection of nucleic acid detection in order to measure the quantity of DNA or RNA in any specific sample. Considering the current pandemic situation of the COVID-19 outbreak, the tests delivered using the PCR method are proved to be more reliable and hence the acceptance of PCR is rising across the globe.
The factors that were fueling the growth of the dPCR and qPCR market before pandemic include the rising incidences of target infectious diseases coupled with genetic disorders. Additionally, the continuous technological advancements in the field of PCR technologies due to the increasing investments, funds, and grants by the government as well as non-government organizations were also fuelling the market growth. Moreover, the increased use of biomarker profiling for disease diagnostics and their successful completion of the human genome project was a major factor for the growth of the market globally.
With the outbreak of COVID-19 since December 2019, the dPCR and qPCR products have shown some promising results for the diagnosis of the disease. The use of dPCR and qPCR for the screening is offering physicians various advantages such as less time consumption, and more reliable results. The industry report is segmented based on technology and product type. By technology, the report is bifurcated into quantitative PCR and digital PCR whereas by product, the industry is studied into instruments, reagents & consumables, and software & services. Exponential growth in the demand for instruments and reagents has been witnessed in the COVID-19 affected countries for the faster diagnosis of the infected patients.
The demand for dPCR and qPCR due to pandemic can be observed in all regions such as North America, Europe, Asia-Pacific and the Rest of the World. In January & February 2020, most of the demand was from Asia-Pacific, however, an exponential surge is witnessed in March 2020 in Europe and North America due to a sudden rise in the COVID-19 cases in these regions. In the US, the FDA took some additional significant diagnostic actions due to the COVID-19 outbreak. For instance, on 16 March 2020, the FDA issued Emergency Use Authorizations (EUAs) to Laboratory Corporation of America (LabCorp) for its COVID-19 RT-PCR test.
Key companies working in the market include Abbott Laboratories, Becton Dickinson and Co., Bio-Rad Laboratories Inc., Biosciences Inc., Eppendorf AG, F. Hoffmann-La Roche Ltd., and many more. Companies such as Bio-Rad are trying to come up with the authorized test to support the escalating need for testing across the globe. For instance, on 20th March 2020 Biodesix, Inc., a lung disease diagnostic company announced a partnership with Bio-Rad Laboratories, Inc. This partnership is done with the goal to bring a COVID-19 Droplet Digital PCR (ddPCR) test to the FDA for an Emergency Use Authorization (EUA) approval. On March 27, 2020, Abbott Laboratories got the US FDA approval for Abbott ID NOW platform which can diagnosis COVID-19 positive samples in 5 minutes and negative samples in 13 minutes.
OMR global recently published a report addressing the impact of COVID-19 on the global dPCR and qPCR industry. The study is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, laws and policies, consumer behavior and macro-economic factors. The report includes analysis of different regions and countries and the effect of COVID-19 on the dPCR and qPCR industry of each respective region. Besides, an expected recovery timeline of the industry will also be included with the best- and worst-case scenario which will aid clients to take their future steps in the decision-making process.
The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.
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