Fact.MR – A Market Research and Competitive Intelligence Provider: According to the latest Fact.MR analysis, the global polymerase chain reaction market will reach US$ 3.6 Bn by the end of 2021.
Polymerase Chain Reaction (PCR) Sales to Surpass US$ 12 Bn through 2031 as Adoption of Real-Time PCR Surges amid COVID-19
Fact.MR’s latest study discusses factors affecting the polymerase chain reaction (PCR) market growth. It provides in-depth analysis of various market segments, including product and end user across seven major regions. The report further profiles leading PCR manufacturers and examines the effect of their growth strategies on the global market.
Fact.MR – A Market Research and Competitive Intelligence Provider: According to the latest Fact.MR analysis, the global polymerase chain reaction (PCR) market will reach US$ 3.6 Bn by the end of 2021. Owing to the surging demand for PCR products, the overall market is projected to register growth at 10% CAGR between 2021 and 2031.
Sales in the PCR market are expected to increase with rising prevalence of target diseases and genetic disorders. Also, factors such as growing popularity of portable PCR testing kits, advancements in PCR technology, and increasing government funding for research activities will facilitate the growth in the market.
PCR has emerged as an ideal technique for the amplification of DNA sequences. It is a simple and cost-effective technique which produces results rapidly. It is an extensively used technique in medical laboratory research for a wide range of applications including biomedical research and criminal forensics.
The unprecedented outbreak of COVID-19 had a positive impact on the PCR market. It created huge demand for reliable and rapid detection techniques such as RT-PCR. Various companies also launched novel PCR test kits for the detection of virus.
Also, RT-PCR emerged as an ideal technique for detection of COVID-19 virus. It is significantly faster and has lower risk of contamination or errors.
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As per Fact.MR analysis, PCR reagents will account for around 60% of total PCR market revenue by 2031. Rising demand for diagnostic tests and launch of new reagents specific to the test type are some key factors accelerating the demand for reagents used in polymerase chain reaction. Furthermore, RT PCR systems market to witness significant growth.
Regionally, North America will continue to dominate the PCR market, owing to the presence of a well-established healthcare infrastructure, continuous advances in clinical research, and high prevalence of genetic disorders such as Klinefelter’s syndrome and Down syndrome. The region is poised to expand at a healthy growth rate of 7.5% annually.
However, Asia is projected to register the fastest growth on the back of increasing penetration of PCR products, rising government support, high prevalence of chronic diseases, and expanding healthcare infrastructure.
“As the demand for PCR continues to rise, leading manufacturers are moving towards developing portable micro-scale devices. They also are introducing advanced PCR instruments, reagents and consumable that will allow quick nucleic acid amplification. This is expected to create growth opportunities for the market,” says a Fact.MR analyst
Key Takeaways from Polymerase Chain Reaction Market Survey
- North America will continue to dominate the PCR market, accounting for around 46.2% share in 2021.
- With rising incidence of infectious diseases and increasing support from government, Asia is projected to witness fastest growth, expanding at 9.5% CAGR through 2031.
- Countries such as India and China are anticipated to experience strong growth on the back of growing popularity of gene-based diagnosis and treatment.
- In terms of end-use industry, sales of PCR for pharmaceutical and biotechnology industries are expected to rise at 8.6% CAGR throughout the forecast period.
- Based on product, PCR reagents category is expected to account for 3/5th of the total market share by 2031.
Key Drivers
- Rising adoption of PCR in different diagnostic and research applications is anticipated to accelerate the growth of PCR market.
- Focus on early detection of genetic disorders along with increasing need for human genome editing will continue to fuel the sales of PCR products.
- Rapid adoption of RT-PCR kits during the COVID-19 pandemic emerged as a key factor for the robust growth of PCR market.
- Increasing popularity of personalized medicine will support the growth of PCR market in the future.
Key Restraints
- High cost associated with standard PCR systems is hampering the sales in the market.
- Low penetration of PCR techniques across underdeveloped regions will also limit the growth.
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Competitive Landscape
Key players operating in the polymerase chain reaction market are embracing advanced technologies for the development of new products. They have adopted various strategies such as mergers, partnerships, collaborations and manufacturing of advanced portable PCR products to increase their sales.
- In June 2021, Bio-Rad Laboratories, Inc., a global leader of life science research and clinical diagnostic products, partnered with Seegene, Inc., a global leader in multiplex molecular diagnostics, for clinical development of infectious disease molecular diagnostic products. Under the terms of the agreement, Seegene, based in Seoul, Korea, will provide diagnostic tests for use on Bio-Rad’s CFX96™ Dx Real-Time PCR System for U.S. markets.
- In March 2021, PCR Biosystems, the UK-based specialists in DNA and RNA analysis, launched a range of IsoFast Bst Polymerase reagents for rapid, robust, and sensitive DNA and RNA amplification.
- In December 2020, Europe-based Stilla Technologies launched a dedicated PCR MIX reagent line for optimal performance with Crystal Digital PCR: the nacia multiplex PCR MIX and the nacia PCR MIX. These new reagents are ready-to-use solutions optimized for better performance and robustness for digital PCR applications.
Some of the prominent players operating in the polymerase chain reaction market profiled by Fact.MR are:
- Bio-Rad Laboratories Inc.
- Qiagen N.V
- Roche Diagnostics
- Becton Dickinson & Company (BD)
- Abbott Laboratories
- Siemens Healthineers
- BioMerieux S.A
- Danaher Corporation
- Thermo Fisher Scientific Inc.
- Agilent Technologies
More Insights on the Global Polymerase Chain Reaction Sales Outlook
Fact.MR provides an incisive coverage on global polymerase chain reaction market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for polymerase chain reaction with a detailed segmentation on the basis of:
Product
- PCR Instruments
- Standard PCR Systems
- RT PCR Systems
- Digital PCR Systems
- PCR Reagents
- PCR Consumables
End User
- PCR for Pharmaceutical & Biotechnology Industries
- PCR for Clinical Diagnostics Labs and Hospitals
- PCR for Academic and Research Organizations
- PCR for Other End Users
Key Questions Covered in the Polymerase Chain Reaction Market Outlook Report
- The report offers insight into polymerase chain reaction demand outlook for 2021-2031
- The market study also highlights projected sales growth for polymerase chain reaction market between 2021 and 2031
- Polymerase chain reaction market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Polymerase chain reaction market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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