Pune, March 25, 2020 (GLOBE NEWSWIRE) -- The global polymerase chain reaction (PCR) market size 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. More information on this market is presented in a recently published report by Fortune Business Insights™ titled, “Polymerase Chain Reaction (PCR) Market Size, Share & Industry Analysis, By Type (Standard PCR, Real-time PCR, and Digital PCR), By Product (Instruments and Reagents & Consumables), By Indication (Infectious Diseases, Oncology, Genetic Disorders, and Others), By End User (Hospitals & Clinics, Pharmaceutical & Biotechnology Industries, Diagnostic Centers, and Academic & Research Organizations), and Regional Forecast, 2019-2026.”As per this report, the market value was USD 4.31 billion in 2018 and will rise at a CAGR of 8.3% between 2019 to 2026.
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What is the Scope of the Report?
The report is based on a qualitative and quantitative analysis of the market and its growth parameters, such as drivers, restraints, challenges, and opportunities. It highlights the key industry developments, current PCR market trends, and other interesting insights into the market. The table of market segmentation is discussed in detail with names and figures of the leading segments and their attributed growth factors. The report also talks about the competitive landscape of the market, including the list of key players and the strategies adopted by them to gain a competitive edge in the market. For more information on the market, log on to the company website.
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 polymerase chain reaction 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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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 polymerase chain reaction 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 polymerase chain reaction 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.
List of Notable Polymerase Chain Reaction Market Manufacturers are:
- Agilent Technologies, Inc.,
- Qiagen
- F.Hoffmann-La Roche Ltd
- Bio-Rad Laboratories, Inc.
- Sysmex Inostics
- Abbott
- Thermo Fischer Scientific Inc.
- Eppendorf AG
- Other players
Key Industry Developments of the PCR Market Include:
June 2017 – CFX Maestro Software was launched by Bio-Rad Laboratories, Inc. for real-time PCR data analysis and collection.
January 2019 – A molecular diagnostics company Asuragen Inc., announced the launch of its simple detection test for Huntington’s Diseases called AmplideX PCR/CE HTT Kit.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
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- Prevalence of Chronic Disorders (Infectious diseases, Cancer)
- Key Industry Developments – Mergers, Acquisitions, Partnerships & New Product Launch
- Technological Advancements in PCR
- Regulatory Scenario by Key Countries/Region
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- Global Polymerase Chain Reaction (PCR) Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
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- Standard PCR
- Real-time PCR
- Digital PCR
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- Market Analysis, Insights and Forecast – By Product
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- Instruments
- Reagents & Consumables
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- Market Analysis, Insights and Forecast – By Indication
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- Infectious Diseases
- Oncology
- Genetic Disorders
- Others
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- Market Analysis, Insights and Forecast – By End User
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- Hospitals & Clinics
- Pharmaceutical & Biotechnology Industries
- Diagnostic Centers
- Academic & Research Organization
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- Market Analysis, Insights and Forecast – By Region
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- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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