Polymerase Chain Reaction (PCR) Technology Market is Expected to Reach $12.45 bn by 2027
The Polymerase Chain Reaction (PCR) Technology Market was valued at US$ 8.62 billion in the year 2019 and is estimated to reach US$ 12.45 billion by 2027, at a CAGR of 4.7%.
Polymerase Chain Reaction (PCR) was invented by Kary Mullis in the year 1983. Since then, the world of molecular biology and genetics has evolved several folds. Generally, PCR is used for amplification of expression of DNA or RNA extracted from a cell or a tissue or an organism. Currently, it is used for identifying several complicated diseases and disorders, aid in genetic counselling for parents, clinical diagnostics, and child identity, solving a crime scene in forensics and also in developing targeted therapies for the betterment of the mankind. The technique uses thermostable DNA polymerase enzyme, primers, nucleotide units and magnesium to amplify the DNA strands into million copies, by synthesizing a complementary DNA strand. The types of PCR technologies are multiplex PCR, real-time PCR or qPCR, digital PCR, colony PCR, etc.
The growth of PCR can be attributed to factors such as increase in the use of PCR in academics and research, increased number of disease conditions such as cancer, diabetes, genetic disorders, etc., increase in the investment of gene therapy and genetic counselling, upgrading the old existing systems and parts, are expected to drive the market growth during the forecast period. However, cost is the main aspect that deters market growth. North American region dominated the market due to the wide implementation of PCR in the field of diagnosis. Further, acceptance of technology is one of the major market drivers. Followed by which the European region is said to sustain with the existing market share with Germany and the UK being the market leaders. During the forecast, the Asia Pacific region is expected to contribute more compared to the previous years due to various initiatives from the government to bring in technological advancement in research, more R&D investment, etc.
The introduction of precision medicine has also revolutionized the treatment regimens that were previously prescribed. PCR is mostly used for identifying the distress in the patients by identifying the expression of various key genes; this, in turn, can contribute to the growth of the market. Also, the PCR technology is used for microbiology experiments for identifying the constructs and bacterial transformation
The market players which contribute chiefly to the market share are Abbott, Agilent, Becton Dickinson, Biomerieux, Bio-Rad, Eppendorf, F. Hoffmann-La Roche, GE Electric, Merck KGaA, Promega, Qiagen, Siemens, Takara, Thermo Fisher, and more 100+ companies have been profiled in the study…
The Polymerase Chain Reaction (PCR) Technology Market is segmented based on Technology (Traditional PCR, Digital PCR & Real time PCR); Product (Consumables & reagents, software, instruments, services); Application (Research, Clinical, Forensic); End Users (Biotech & Pharmaceutical Companies, Diagnostic Centres and Hospitals, Academic & Research Institutions) and By Region (North America, Europe, APAC and LAMEA).
- Provides a detailed Analysis of the Market Structure along with forecast of the various segments and sub-segments.
- Provides a Comparative Analysis of Key Marketed and Pipeline Products.
- Provides Key Information on Players involved.
- Provides a Complete Overview of Market Segments and the Regional Outlook.
- Provides In-depth Coverage of Key News, including Major Mergers, Acquisitions and Product Development updates such as clinical trial progression updates and regulatory updates.
The Report Provides Key Insights on
- History of the Polymerase Chain Reaction (PCR) Technology Market, 2015 to 2018
- Forecast of the Polymerase Chain Reaction (PCR) Technology Market Growth till the year 2027
- The key market drivers, restraints, challenges, future opportunities and the market dynamics driving the Polymerase Chain Reaction (PCR) Technology Market
- Analysis of potential growth segments which will drive the market
- Landscape analysis of the major companies, and new market entrants and companies which possess disruptive technologies which can change the trend of the entire market
- Key market approaches adopted by the organizations and in-depth intelligence of potential strategies which could alter the market dynamics
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