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.
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About Grand View
Research
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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