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(Health-NewsWire.Net, August 26, 2021 ) The study involved four major activities in estimating the current size of the PCR technology market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the size of the segments and subsegments.
Revenue Growth Analysis:
[193 Pages Report] The global PCR technology market is projected to reach USD 9.8 billion by 2025 from USD 7.2 billion in 2020, at a CAGR of 6.3% from 2020 to 2025.
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Thermo Fisher Scientific (US) is one of the leading players in the field of healthcare and life science research. The company possesses a robust product portfolio in the PCR technologies segment and a strong market presence globally, with sales and distribution networks in more than 50 countries. It focuses on strengthening its market position in the PCR technologies market through product launches, acquisitions, and partnerships. The company mainly focuses on business strategies that include launching new products and gaining approvals in order to expand its product portfolio and offer customers a wide range of PCR technologies products. Thermo Fisher Scientific also launched several products, including real-time PCR assay and system. It has received regulatory approvals for several other clinical assays from respective authorities.
Key Factors Driving Market Growth:
The growth of this market is primarily driven by the rising incidences of target diseases and genetic disorders; continuous technological advancements in PCR technologies, the development of miniaturized portable instruments, and incorporation of robotics; increasing investments, funds, and grants for research activities; increasing use of biomarker profiling for disease diagnostics; and the successful completion of the Human Genome Project.
dPCR technique to show the highest growth in the PCR technology market during the forecast period
The dPCR segment is expected to grow at the highest CAGR in the Polymerace chain reaction market. This is due to ongoing technological developments, growing adoption of dPCR products among key end users (compared with qPCR and other PCR products) across mature markets, continued expansion in the distribution networks of major product manufacturers, and growing private funding for developing and commercializing innovative dPCR instruments. Furthermore, dPCR has many potential applications, including the detection and quantification of low-level pathogens, rare genetic sequences, copy number variations (CNVs), and relative gene expression in single cells are also key factors fuelling the demand growth of dPCR instruments among end users.
By end user, hospitals and diagnostic labs hold the largest market share
The hospitals and diagnostic labs segment account for the largest share of the Polymerace chain reaction market. Factors such as the increasing market availability of qPCR reagents in clinical diagnostic applications; ongoing expansion of healthcare infrastructure across emerging countries; high prevalence & incidence of target diseases; and growing awareness are driving the growth of this market segment.
Asia Pacific is expected to grow at the highest CAGR in the PCR technology market during the forecast period
North America is expected to account for the largest share in the global Polymerace chain reaction market in 2020. However, healthcare infrastructure modernization, increasing penetration of cutting-edge diagnostic technologies (including PCR technologies) for research and clinical applications, growing awareness among physicians and healthcare professionals about the benefits of gene-based disease diagnosis and treatment, and the increasing public-private support to develop novel PCR technologies in Asia Pacific countries have accounted for a particularly high growth rate in this region.
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Key Players:
As of 2019, the PCR technology market is dominated by Thermo Fisher Scientific, Inc. (US), F. Hoffman-La Roche Ltd. (Switzerland), Bio-Rad Laboratories, Inc. (US), QIAGEN N.V. (Germany), and Takara Bio, Inc. (Japan). Other prominent players in the Polymerace chain reaction market include Agilent Technologies, Inc. (US), bioMérieux S.A. (France), Fluidigm Corporation (US), Danaher Corporation (US), Abbott Laboratories (US), Merck KGaA (Germany), Becton Dickinson and Company (US), Promega Corporation (US), Eppendorf AG (Germany), and Analytik Jena AG (Germany).
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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