Pune, India, Dec. 14, 2021 (GLOBE NEWSWIRE) -- PCR Market Size| 2021 Covid-19 Impact On Healthcare Industry Global Analysis By Size, Trends, Growth, Share, Business, Key Players, Merger, Statistics, Competitive Landscape, And Regional Forecast latest study published by Fortune Business Insights. The global “PCR Market” is expected to reach USD 8.14 billion by 2026, on account of the advent of digitalization and the gradual shift from traditional PCR to digital PCR for diagnostics purposes. PCR is considered the most unique and most widely referred clinical testing technique utilized in modern biology. It includes a molecular technology for the in-vitro amplification of a specific region in a DNA strand.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2019 to 2026 |
| Forecast Period 2019 to 2026 CAGR | 8.3% |
| 2026 Value Projection | USD 8.14 Billion |
| Base Year | 2018 |
| Market Size in 2019 | USD 4.31 Billion |
| Historical Data for | 2015 to 2017 |
| No. of Pages | 135 |
| Segments covered | Hospitals & Clinics, Pharmaceutical & Biotechnology Industries, Diagnostic Centers, and Academic & Research Organizations |
| Growth Drivers | The increasing prevalence of infectious and genetic diseases is a significant factor in promoting the PCR Market growth. Besides this, the rise in demand for innovative devices and the advent of miniature PCR devices are aiding in the expansion of the market. |
| The Asia Pacific market is likely to witness robust growth during the forecast period on account of the rise in awareness amongst the patient population about the presence of advanced PCR devices, coupled with the presence of a substantial underpenetrated market. | |
| As per segmentation by region, North America earned a revenue of USD 1.72 billion in 2018 and contributed the largest PCR Market share. |
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Regional Segmentation:
North America Dominating Market with Adequate Reimbursement Policies for PCR Devices
As per segmentation by region, North America earned a revenue of USD 1.72 billion in 2018 and contributed the largest PCR Market share. Factors attributed to this dominance include the increasing prevalence and diagnosis cases of infectious diseases, the presence of adequate reimbursement policies for PCR devices, and the high number of the patient population adopting new diagnostic procedures. This is being followed by Europe, owing to the increasing incidences of different cancer types and metabolic diseases that require advanced therapies and diagnosis.
Additionally, the Asia Pacific market is likely to witness robust growth during the forecast period on account of the rise in awareness amongst the patient population about the presence of advanced PCR devices, coupled with the presence of a substantial underpenetrated market. Furthermore, the Middle East and Africa and Latin America markets are considered to be in the nascent stage and are likely to witness stable growth in the coming years. This is attributable to the increasing prevalence of genetic and infectious diseases.
Competitive Landscape:
Mergers and Acquisitions Strategies Adopted by Players will Help Gain High Revenue
The global PCR Market has a diverse portfolio on account of the presence of both digital PCR and real-time PCR. Leading players of this market include companies such as Agilent Technologies, Inc., QIAGEN, Bio-Rad Laboratories, Inc., and F. Hoffmann-La Roche Ltd. Players are adopting strategies such as the introduction of new products, substantial investment in research and development of the same, company collaborations, mergers and acquisitions, and others for gaining the upper hand in the market competition.
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Market Drivers
Government Initiatives for Increasing Awareness will Augment Growth
The increasing prevalence of infectious and genetic diseases is a significant factor in promoting the PCR Market growth. Besides this, the rise in demand for innovative devices and the advent of miniature PCR devices are aiding in the expansion of the market. Moreover, the highly precise and direct quantification of digital PCRs is further anticipated to attract high PCR market revenue during the forecast period. However, the high cost associated with commercial PCR assays may pose a significant hindrance to the growth of the market.This, coupled with the lack of awareness about PCR and their diagnostic benefits in underdeveloped nations, may also restrict its growth. Nevertheless, a lead analyst at Fortune Business Insights says, “Increasing initiatives taken by both government and non-governmental support organizations to spread awareness and expand product offerings by increasing awareness about the same is prognosticated to create lucrative growth opportunities in the near future.”
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List of Key Players in PCR Market:
- Agilent Technologies, Inc.,
- Qiagen
- Hoffmann-La Roche Ltd
- Bio-Rad Laboratories, Inc.
- Sysmex Inostics
- Abbott
- Thermo Fischer Scientific Inc.
- Eppendorf AG
- Other players
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