Polymerase Chain Reaction Market Overview
The polymerase chain reaction market is expected to reach USD 8,094 million by 2026, registering a CAGR of 7.83% during the forecast period, 2021-2026. The major factors driving the growth of the polymerase chain reaction market include the increasing application in clinical diagnostics, rising demand for personalized and precision medicine, and technological advancements and applications in drug development. There is a positive impact on the PCR market due to the increasing demand in the clinical diagnostic segment of the market. As the authorities have not recommended the viral culture tests, almost all the diagnostic tests use RT-PCR to test the population who have symptoms of COVID 19 and are advised by healthcare professionals to undergo a diagnostic test.
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Polymerase Chain Reaction Market - Geographical Overview
North America is expected to dominate the polymerase chain reaction market over the forecast period
The increasing prevalence of genetic and chronic disorders, such as cancer, the aging population, the rising demand for precision and personalized medicine, and favorable government initiatives are the primary factors driving the growth of the market in North America region. As the COVID-19 cases are increasing rapidly and the spread of the virus is very rapid, speeding up the transmission. The increasing count of suspects increases the number of diagnostic tests, boosting the market growth in the country.
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Key Highlights of the Polymerase Chain Reaction Market
- The polymerase chain reaction is also gaining higher importance in the molecular diagnosis of infectious and genetic diseases with the advent of COVID-19. To facilitate personalized medicine, it is crucial to develop precise and reproducible means of gaining molecular information about the underlying disease, which can be used to guide clinical decision making, with PCR techniques being increasingly utilized in such methods. Therefore, increasing the focus on personalized medicine and a patient-centered approach is driving the growth of the market.
- The market studied is moderately consolidated in nature, owing to the presence of a few major players. Some of the market players are Abbott Laboratories, Agilent Technologies Inc., Becton, Dickinson and Company, bioMerieux SA, Bio-Rad Laboratories Inc., GE Healthcare, Merck KGaA, PerkinElmer Inc., Promega Corporation, Siemens Healthcare, and Thermo Fisher Scientific Inc.
Recent Developments in the Polymerase Chain Reaction Market
- In June 2021, Thermo Fisher Scientific Inc. launched TaqPath, a new CE-IVD-marked fast PCR combo kit 2.0 to detect active SARS-CoV-2 infection.
- In May 2021, Cipla Limited announced the commercialization of a polymerase chain reaction (RT-PCR) test kit ‘ViraGen’ for COVID-19 in India, in partnership with Ubio Biotechnology Systems Pvt. Ltd.
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List of Key Players in the Polymerase Chain Reaction Market
- Abbott Laboratories
- Agilent Technologies Inc.
- Becton, Dickinson and Company
- bioMerieux SA
- Bio-Rad Laboratories Inc.
- Merck KGaA
- PerkinElmer Inc.
- Promega Corporation
- Siemens Healthcare
- Thermo Fisher Scientific Inc.
- Danaher Corporation
*List Not Exhaustive
Mordor Intelligence has segmented the global polymerase chain reaction market on the basis of product, application, end-user, and geography:
- Product (Market Size & Forecast based on Revenue (USD million), 2018-2026)
- Standard PCR Systems
- Digital PCR Systems
- Real-time PCR Systems
- Reagents and Consumables
- Application (Market Size & Forecast based on Revenue (USD million), 2018-2026)
- Clinical Diagnostics
- Life Science Research and Industrial Applications
- Other Applications
- End-user (Market Size & Forecast based on Revenue (USD million), 2018-2026)
- Academic Institutes
- Clinical Diagnostics Labs and Hospitals
- Pharmaceutical and Biotechnology Industries
- Other End Users
- Geography (Market Size & Forecast based on Revenue (USD million), 2018-2026)
- South Korea
- Rest of Asia-Pacific
- North America
- United States
- United Kingdom
- Rest of Europe
- Middle-East and Africa
- South Africa
- Rest of Middle-East and Africa
- South America
- Rest of South America
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