According to the research literature 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 Market Study Report, global PCR & NGS based diagnostic testing market is expected to register an appreciable growth rate over 2021-2027.
 

As per the report findings, rising prevalence of infectious diseases and subsequent surge in demand for diagnostic assays are catalyzing global PCR & NGS based diagnostic testing industry growth.
 

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In particular, alarming rise in the number of Covid-19 infections has augmented the market demand.  Reverse-transcription PCR (RT-PCR) and metagenomic next-generation sequencing (mNGS) molecular technologies have been extensively utilized since the beginning of the pandemic.
 

Increasing efforts by companies towards production of testing kits capable of rapidly and accurately detecting Covid-19 infection is further enhancing the industry outlook. For instance, next-gen bioscience company XPhyto brought one of the fastest Covid-19 RT-PCR test systems to the market in May 2021. With only a 20-minute PCR run time, the test incorporates both the accuracy of PCR test and speed of an antigen test to provide quick and precise results.
 

Besides, NGS has facilitated genetic sequencing and expanded the application scope in various areas of medical research, further enhancing the overall PRC & NGS based diagnostic testing industry outlook.
 

Based on product type, consumables segment is anticipated to register modest growth over the forecast duration, attributable to surging demand for diagnostic consumables amid the Covid-19 pandemic.
 

In terms of end-use, diagnostic centers segment captured over 36% industry share in 2020 and is likely to showcase strong growth trends through 2027, creditable to high volume of diagnostic tests performed in these healthcare establishments.
 

Considering the geographical landscape, Latin America industry size is touted to expand at a decent CAGR over the projected timeline, creditable to surge in sales of diagnostic test kits throughout the Covid-19 pandemic.
 

Major players in global PCR & NGS based diagnostic testing market sphere are VWR International LLC, Thomas Scientific LLC, Thermo Fisher Scientific Inc., F. Hoffmann-La Roche AG, Qiagen N.V., Mascon Inc., MGI Tech Co. Ltd., Integra LifeSciences Holdings Corp., Illumina Inc., Hamilton Company, Fluotics, Eppendorf, Bio-Rad Laboratories Inc., and Agilent Technologies Inc.