Global Polymerase Chain Reaction Market Size to Worth USD 26.04 Billion by 2033 | CAGR of 7.8%

Category: Healthcare

RELEASE DATE Feb 2024
REPORT ID SI3660

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Global Polymerase Chain Reaction Market Size to Worth USD 26.04 Billion by 2033

According to a research report published by Spherical Insights & Consulting, the Global Polymerase Chain Reaction Market Size is to grow from USD 12.21 Billion in 2023 to USD 26.04 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 7.8% during the projected period.

Global Polymerase Chain Reaction Market

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Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the "Global Polymerase Chain Reaction Market Size, Share, and COVID-19 Impact Analysis, By Type (Conventional PCR, Standard PCR, Real Time PCR, Digital PCR, Others), By Product (Software & Services, Consumables & Reagents, Instruments), By Application Medical (Clinical, Pathology Testing, Oncology Testing, Blood Screening, Research, Forensics, Others), Non-Medical (Food, Others), By End-User (Clinical Diagnostics Labs & Hospitals, Pharmaceutical & Biotechnology Industries, Academic & Research Organizations, End-Users), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033)." Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/polymerase-chain-reaction-market

 

DNA can be amplified and examined using the molecular biology method known as polymerase chain reaction (PCR). It helps researchers produce a huge number of copies of a target DNA sequence by enhancing the rapid replication of a specific segment of DNA. The COVID-19 pandemic had a significant impact on the growth of the polymerase chain reaction (PCR) market. The PCR market has been helped by the growing demand in the clinical diagnostics segment. Furthermore, authorities did not advise viral culture tests; instead, they promoted diagnostic tests for people having COVID-19 symptoms, with RT-PCR being a commonly used method for testing these individuals. The rapid technical advancements in PCR have led to the creation of extremely sensitive and optimized detection devices, which in turn have contributed to the expected increase of the global polymerase chain reaction market during the forecast period. Continuous technological developments in PCR techniques have improved the technique's sensitivity, specificity, and efficiency. Several of these developments include digital PCR and real-time PCR. However, the primary factors restricting the expansion of the worldwide polymerase chain reaction market are research developments that lead to the creation of substitute nucleic acid amplification methods. Isothermal amplification techniques work at a constant temperature, in contrast to PCR, which needs temperature cycling to denature, anneal, and expand DNA.

 

The digital PCR segment is anticipated to hold the greatest share of the global polymerase chain reaction market during the projected timeframe.

Based on the type, the global polymerase chain reaction market is divided into conventional PCR, standard PCR, real-time PCR, digital PCR, and others. Among these, the digital PCR segment is anticipated to hold the greatest share of the global polymerase chain reaction market during the projected timeframe. In contrast with conventional PCR, which only yields relative quantification, digital PCR can precisely determine the precise quantity of target molecules contained inside a given sample. Rare mutations can be easily identified and measured using digital PCR against a background of wild-type sequences. This is especially crucial for cancer research and diagnostics since finding low-frequency mutations can have a big impact on patient care.

 

The consumables & reagents segment is anticipated to grow at fastest pace in the global polymerase chain reaction market during the projected timeframe.   

Based on the product, the global polymerase chain reaction market is divided into software & services, consumables & reagents, and instruments.  Among these, the consumables & reagents segment is anticipated to grow at the fastest pace in the global Polymerase Chain Reaction market during the projected timeframe. This industry's growth has been linked to the rising incidence of infectious and chronic diseases, the increasing need for consumables and reagents in various diagnostic tests, and a rise in the launch of novel products.

 

The medical segment is predicted to grow at highest pace in the polymerase chain reaction market during the estimated period.

Based on the application, the global polymerase chain reaction market is divided into medical (clinical, pathology testing, oncology testing, blood screening, research, forensics, others), and non-medical (food, others).  Among these, the medical segment is predicted to grow at the highest pace in the polymerase chain reaction market during the estimated period. The high acceptance rate of PCR tests can be attributed to their broad application in clinical diagnostics and research, especially in the analysis of illnesses and drug development. Furthermore, there is a growing need for these assays due to the increasing use of PCR in drug development and research projects, as well as in the identification of SARS-CoV-2 infections.

 

The pharmaceutical & biotechnology industries segment is predicted to grow at highest pace in the polymerase chain reaction market during the estimated period.

Based on the end-user, the global polymerase chain reaction market is divided into clinical diagnostics labs & hospitals, pharmaceutical & biotechnology industries, academic & research organizations, and other end-users. Among these, the pharmaceutical & biotechnology industries segment is predicted to grow at the highest pace in the polymerase chain reaction market during the estimated period. The increasing test volumes and efficiency in laboratories are anticipated to drive up demand for PCR services in the biotechnology and pharmaceutical industries. The PCR market will rise as a result of significant developments in pharmaceutical genomics and the increasing acceptance of self-diagnosing diseases.

 

North America is expected to hold the largest share of the global polymerase chain reaction market over the forecast period.

North America

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North America is expected to hold the largest share of the global polymerase chain reaction market over the forecast period. The growth is associated with the modernization of the healthcare system and the increasing use of advanced diagnostic technologies, such as PCR technology, in research and clinical practices. The adoption of novel biotechnologies, greater public awareness of PCR products, significant financial investment in research within national budgets, early access to the latest innovations, and an apparent increase in R&D activity in the area are all credited with the recent rise. Governmental attempts to improve healthcare infrastructure and supportive guidelines contribute to the growth of the regional market.

 

Asia Pacific is predicted to grow at the fastest pace in the global polymerase chain reaction market during the projected timeframe. Furthermore, the region could anticipate faster revenue development if product launches pick up speed in response to the growing need for qualified assays. To diagnose COVID-19 infections, for example, Singapore-based Lucence Diagnostics announced in June 2020 the availability of the SARS-CoV-2 RNA RT-PCR test.

 

Major vendors in the Global Polymerase Chain Reaction Market include Abbott, Agilent Technologies, Inc., Fluidigm Corporation, Cytiva, Cepheid, Stilla Technologies, Microsynth AG, QIAGEN, F. Hoffmann-La Roche Ltd., Stilla, Atila Biosystems, Standard BioTools, Microsynth AG, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., bioMérieux, S.A., Enzo Life Science, Dickinson and Company, Others

 

Recent Developments

  • In November 2022, a multiplexed PCR test called the Xpert Xpress MVP was developed by Cepheid with the purpose of identifying DNA from organisms associated with three distinct conditions: trichomoniasis, vulvovaginal candidiasis, and bacterial vaginosis (BV). This test makes it possible to identify various illnesses from a single sample, improving the accuracy of diagnosis and making it easier to develop effective antibiotic treatment programs.

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting And Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Polymerase Chain Reaction Market based on the below-mentioned segments:

 

Global Polymerase Chain Reaction Market, By Type

  • Conventional PCR
  • Standard PCR
  • Real Time PCR
  • Digital PCR
  • Others

 

Global Polymerase Chain Reaction Market, By Product

  • Software & Services
  • Consumables & Reagents
  • Instruments

 

Global Polymerase Chain Reaction Market, By Application

  • Medical
  • Clinical
  • Pathology Testing
  • Oncology Testing
  • Blood Screening
  • Research
  • Forensics
  • Others
  • Non-Medical
  • Food
  • Others

 

Global Polymerase Chain Reaction Market, By End-User

  • Clinical Diagnostics Labs & Hospitals
  • Pharmaceutical & Biotechnology Industries
  • Academic & Research Organizations
  • Others

 

Global Polymerase Chain Reaction Market, Regional Analysis

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • Uk
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of the Middle East & Africa

 

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

 

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