Polymerase Chain Reaction Technologies Market Boosting Technologies, Industry Growth Analysis, Demand Status, Trends
Polymerase chain reaction technologies market accounted for $7,027 million in 2016, and is estimated to reach $10,776 million by 2023.
PORTLAND, OREGON, UNITED STATES, January 23, 2022 /EINPresswire.com/ -- PCR techniques have the most potential features such as absolute detection and quantification of genetic materials such as DNA and RNA that are increasingly being used in life sciences research and molecular diagnostics.
The device can be used quantify and analyze rare alleles and point mutations. Advanced PCR systems are being developed with enhanced capabilities such as broad menu of tests, higher sensitivity, and specificity. Other major advances related with the PCR are shorter PCR cycling time, higher productivity, and automated workflow.
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Key players operating in the market are Thermo Fisher Scientific Inc., Sygnis AG, LGC Ltd, Bio-Rad Laboratories Inc., Agilent Technologies, Inc., BioMerieux S.A., RainDance Technologies, Inc., Affymetrix Inc., Fluidigm Corporation, and Takara Bio Inc.
The advancement in the technology of qPCR and dPCR leading to automation, improved accuracy, and enhanced sensitivity majorly drive the market growth. These products provide high level of efficiency and productivity in research and drug discovery and reduce the time required for the novel drug development. In addition, there is increased demand for polymerase chain reaction technologies owing to increase in number of hospitals and research centers.
Furthermore, the increase in number of patients suffering from infectious diseases and rise in funding in gene therapy and human genome projects will also help to fuel the growth of the global polymerase chain reaction technologies market. Moreover, there is growth in demand for polymerase chain reaction technologies in the field of life science, clinical diagnostics, and others, which would further drive the market. However, growth of non-validated home brew test and unstable reimbursement policies are projected to hinder the growth of global polymerase chain reaction technologies market.
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⢠Digital PCR segment is projected to grow at the highest rate during the analysis period.
⢠Reagents and consumables segment was the highest revenue-generating segment in 2016, and is expected to continue its dominance in future.
⢠North America dominated global polymerase chain reaction technologies market in 2016, and is projected to continue its dominance in future.
⢠China is expected to grow highest in the Asia-Pacific region during the forecast period.
⢠Services segment was the largest contributor among the products and services segments.
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Among the end-users, academic & research institutions occupied the major share of PCR instrument market due to increased test volume of infectious diseases and various types of cancers.
In 2016, North America accounted for maximum contribution to the total revenue generated, owing to the rise in prevalence of infectious diseases and cancer in this region and technological advancement in PCR. However, Asia is projected to grow at the highest CAGR during the forecast period. Opportunities in the Asian market have attracted huge investments by major companies in the area of R&D activities.
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