PUBLISHER: The Business Research Company | PRODUCT CODE: 1513218
PUBLISHER: The Business Research Company | PRODUCT CODE: 1513218
Polymerase chain reaction (PCR) technologies are laboratory techniques utilized to amplify and analyze DNA sequences, serving as a cornerstone tool in molecular biology. They find widespread application in genetic testing, diagnostics, forensics, and research.
The primary products associated with PCR technologies include reagents and consumables, instruments, software, and services. Reagents and consumables encompass materials, chemicals, or supplies consumed during scientific experiments, research, or industrial processes. Various PCR technologies are employed, such as real-time PCR, conventional PCR, reverse transcription PCR, digital PCR, multiplex real-time PCR, hot start PCR, among others. These technologies cater to diverse applications including gene expression analysis, genetic sequencing, genotyping, nucleic acid synthesis, standard validation, point-of-care diagnostics, and environmental applications. End-users of PCR technologies include hospitals and diagnostic centers, research laboratories and academic institutes, pharmaceutical and biotechnology companies, among others.
The PCR technologies research report is one of a series of new reports from The Business Research Company that provides PCR technologies market statistics, including the PCR technologies industry's global market size, regional shares, competitors with a PCR technologies market share, detailed PCR technologies market segments, market trends and opportunities, and any further data you may need to thrive in the PCR technologies industry. This PCR technologies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The PCR technologies market size has grown rapidly in recent years. It will grow from $13.03 billion in 2023 to $14.58 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth can be attributed to an increased number of genome-based drug development activities, a rise in the prevalence of genetic disorders and target diseases, heightened utilization of miniaturized portable instruments, increased adoption of biomarker profiling, and a growing demand for personalized medicine.
The PCR technologies market size is expected to see rapid growth in the next few years. It will grow to $23.02 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The growth is expected to be driven by an increased demand for rapid and accurate disease diagnosis, growing interest in forensics, wider adoption of real-time polymerase chain reaction technology, a surge in demand for rapid on-site diagnostic testing, a rise in infectious disease outbreaks, and a growing need for companion diagnostics. Key trends anticipated in the forecast period include integration of next-generation sequencing (NGS), RNA detection and analysis, single-cell PCR analysis, advancements in bioinformatics software and data analysis tools, microfluidic technologies, lab-on-a-chip systems, and point-of-care testing (POCT), as well as the integration of artificial intelligence (AI) and data analytics.
An increasing prevalence of infectious diseases is expected to propel the growth of the PCR technologies market going forward. Infectious diseases refer to illnesses caused by pathogenic microorganisms such as bacteria, viruses, parasites, or fungi that can spread directly or indirectly from one person to another. The rising incidence of infectious diseases underscores the mounting challenges posed by pathogens, likely influenced by factors such as globalization, urbanization, antimicrobial resistance, and environmental changes. PCR technologies play a crucial role in combating infectious diseases by detecting and amplifying specific genetic material of pathogens, facilitating their identification and diagnosis with high sensitivity and accuracy. For instance, in November 2023, according to the World Health Organization (WHO), a Switzerland-based specialized agency of the United Nations responsible for international public health, 10.6 million cases of tuberculosis (TB) are predicted to occur globally in 2022, affecting 5.8 million men, 3.5 million women, and 1.3 million children. Therefore, the increasing prevalence of infectious diseases is driving the PCR technologies market.
Major companies in the PCR technologies market are dedicated to advancing technological solutions, such as next-gen quantitative polymerase chain reaction (qPCR) technologies, to enhance accuracy, sensitivity, and efficiency in molecular diagnostics. Quantitative polymerase chain reaction (qPCR) technology quantifies specific DNA sequences in samples, offering real-time monitoring and amplification, making it indispensable across scientific and medical disciplines. For instance, F. Hoffmann-La Roche AG, a Switzerland-based biotechnology company, recently introduced the LightCycler PRO System in November 2023. This next-generation qPCR system is designed to meet clinical needs in molecular diagnostics and address public health challenges. It aims to be the most advanced qPCR technology for both clinical diagnostics and research, offering improved performance and usability while bridging the gap between translational research and in vitro diagnostics. Leveraging gold-standard technology, this system ensures quality, precision, and reliability crucial for precise patient diagnosis and informed clinical decisions.
In May 2023, Transformative Biotech LLC, a US-based startup biotechnology company, acquired Summit Biolabs with the aim of implementing rapid and highly accurate direct-to-polymerase chain reaction (PCR) technologies. Summit Biolabs, another US-based biotechnology company, specializes in developing innovative molecular diagnostic solutions and direct-to-PCR technologies, poised to revolutionize the biotechnology industry.
Major companies operating in the polymerase chain reaction (PCR) technologies market are F. Hoffmann-La Roche Ltd., Bayer Corporation, Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers AG, Becton, Dickinson and Company (BD), GE Healthcare Technologies LLC, Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Eurofins Scientific SE, Agilent Technologies Inc., Illumina Inc., PerkinElmer Inc., bioMerieux SA, Beckman Coulter Inc., Sysmex Corporation, Bio-Rad Laboratories Inc., QIAGEN N.V., Natera Inc., BGI Genomics Co. Ltd., Cepheid, NeoGenomics Laboratories Inc., Ambry Genetics Corporation, Veritas Genetics Inc.
North America was the largest region in the PCR technologies market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the polymerase chain reaction (PCR) technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the polymerase chain reaction (PCR) technologies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The PCR technologies market consists of revenues earned by entities by providing services such as gene expression analysis, pathogen detection, viral load quantification, reverse transcriptase enzyme, custom assay development, clinical diagnostics, and technical support. The market value includes the value of related goods sold by the service provider or included within the service offering. The PCR technologies market also includes sales of thermal cyclers, quantitative polymerase chain reaction (qPCR) instruments, digital polymerase chain reaction systems, reverse transcription polymerase chain reaction (RT-PCR) kits, reagents and consumables, master mixes, polymerase chain reaction plates and tubes, polymerase chain reaction cleanup and purification kits. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Polymerase Chain Reaction (PCR) Technologies Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on polymerase chain reaction (PCR) technologies market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for polymerase chain reaction (PCR) technologies? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The polymerase chain reaction (PCR) technologies market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.