According to the research report titled ‘PCR & NGS Based Diagnostic Testing Market Size By Product (Consumables, Equipment, Labware), By End-use (Hospitals and Clinics, Diagnostic Centers, Ambulatory Settings), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, global PCR & NGS based diagnostic testing market is expected to witness steady growth during 2021-2027.
 

Increased pervasiveness of infectious diseases coupled with growing demand for diagnostic assays are major factors contributing towards global PCR & NGS based diagnostic testing market growth.

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The advent of COVID-19 pandemic has also augmented the demand for diagnostic testing, especially in regions with high infection rates. Companies have also began producing testing kits that can detect the Coronavirus accurately as well as rapidly.

Introduction of NGS diagnostic method has allowed genetic sequencing to be deployed in various applications in medical research. Thus, technological breakthroughs have allowed for the development of products with high efficacy and precision, which in turn is stimulating the overall industry outlook.

As per product type, the market is split into labware, equipment, and consumables. The report cites that global PCR & NGS based diagnostic testing industry size from consumables segment is expected to register decent growth during the study period, primarily due to widespread adoption of diagnostic consumables during the COVID-19 pandemic.

The end-user landscape of this business space extends to diagnostic centers, ambulatory settings, hospitals and clinics, and others. Among these, the diagnostic centers segment accounted for 36% market share in the year 2020 owing to increasing number of diagnostic tests.

From the regional point of view, Latin America market is calculated to see modest growth during the study period, driven by proliferating sales of diagnostic testing kits during the Coronavirus outbreak.

The prominent companies operating in global PCR & NGS based diagnostic testing industry are VWR International (Avantor Inc.), Thomas Scientific, Roche Holding AG, QIAGEN, Mascon Inc., MGI Tech Co. Ltd., Integra LifeScience Holdings Corporation, Illumina Inc., Hamilton Company, Fluotics, Eppendorf Group, Bio-Rad Laboratories Inc., and  Agilent Technologies Inc. among others.