Global PCR Market to Surpass USD 7 Billion by 2025
By LabMedica International staff writers Posted on 03 May 2018 |
The global polymerase chain reaction market (PCR) was valued at USD 3.7 billion in 2017 and is projected to grow at a CAGR of 8.8% over the forecast period (2017 – 2025) to surpass USD 7.4 billion by 2025. The extensive applications of the PCR laboratory technique in various fields, rising prevalence and incidence of infectious and chronic diseases, and growing need to develop advanced PCR systems for the rapid and inexpensive quantitative detection of target samples are expected to be the key growth drivers of the PCR market during the forecast period.
These are the latest findings of Coherent Market Insights (Seattle, WA, USA), a market research and consulting firm.
Based on product type, reagents and consumables hold the largest share of the PCR market due to the need to run the sample and amplify the target DNA sequence in PCR instruments. Based on end-user, academic and research laboratories account for the largest market share, on account of the increasing need for PCR systems in advanced laboratory testing and research services.
The use of PCR is increasing in the clinical diagnosis of infectious disease, nucleic acid amplification, paternity testing, DNA fingerprinting, detection and diagnosis of infectious disease, quality control, and personalized medicine. However, R&D advancements are resulting in the creation of various alternative nucleic acid amplification methods, such as loop medicated isothermal amplification, nucleic acid sequence based amplification, strand displacement amplification, and multiple displacement amplification. These methods offer better applicability and sensitivity in nucleic acid amplification, as compared to PCR, which has limitations such as contamination, sensitivity to certain classes of contaminants and inhibitors, and requirement of thermal cycling. These alternative nucleic acid amplification methods could hamper the growth of the PCR market during the forecasted period.
The key players in the PCR market offer PCR-free nucleic acid detection methods. They are also launching advanced and novel PCR instruments and consumables, which allow for rapid and easy nucleic acid amplification. Additionally, these key players have entered into a number of collaborations to expand their geographical reach and increase patient reach. Thus, the significant organic and inorganic growth strategies adopted by various key players is driving the growth of the PCR market. Geographically, there is growing demand for continuous technological advancements in PCR from the highly lucrative markets, particularly Asia Pacific, Latin America, the Middle East, and Africa.
Related Links:
Coherent Market Insights
These are the latest findings of Coherent Market Insights (Seattle, WA, USA), a market research and consulting firm.
Based on product type, reagents and consumables hold the largest share of the PCR market due to the need to run the sample and amplify the target DNA sequence in PCR instruments. Based on end-user, academic and research laboratories account for the largest market share, on account of the increasing need for PCR systems in advanced laboratory testing and research services.
The use of PCR is increasing in the clinical diagnosis of infectious disease, nucleic acid amplification, paternity testing, DNA fingerprinting, detection and diagnosis of infectious disease, quality control, and personalized medicine. However, R&D advancements are resulting in the creation of various alternative nucleic acid amplification methods, such as loop medicated isothermal amplification, nucleic acid sequence based amplification, strand displacement amplification, and multiple displacement amplification. These methods offer better applicability and sensitivity in nucleic acid amplification, as compared to PCR, which has limitations such as contamination, sensitivity to certain classes of contaminants and inhibitors, and requirement of thermal cycling. These alternative nucleic acid amplification methods could hamper the growth of the PCR market during the forecasted period.
The key players in the PCR market offer PCR-free nucleic acid detection methods. They are also launching advanced and novel PCR instruments and consumables, which allow for rapid and easy nucleic acid amplification. Additionally, these key players have entered into a number of collaborations to expand their geographical reach and increase patient reach. Thus, the significant organic and inorganic growth strategies adopted by various key players is driving the growth of the PCR market. Geographically, there is growing demand for continuous technological advancements in PCR from the highly lucrative markets, particularly Asia Pacific, Latin America, the Middle East, and Africa.
Related Links:
Coherent Market Insights
Latest Industry News
- ECCMID Congress Name Changes to ESCMID Global
- Bosch and Randox Partner to Make Strategic Investment in Vivalytic Analysis Platform
- Siemens to Close Fast Track Diagnostics Business
- Beckman Coulter and Fujirebio Expand Partnership on Neurodegenerative Disease Diagnostics
- Sysmex and Hitachi Collaborate on Development of New Genetic Testing Systems
- Sysmex and CellaVision Expand Collaboration to Advance Hematology Solutions
- BD and Techcyte Collaborate on AI-Based Digital Cervical Cytology System for Pap Testing
- Medlab Middle East 2024 to Address Transformative Potential of Artificial Intelligence
- Seegene and Microsoft Collaborate to Realize a World Free from All Diseases and Future Pandemics
- Medlab Middle East 2024 to Highlight Importance of Sustainability in Laboratories
- Fujirebio and Agappe Collaborate on CLIA-Based Immunoassay
- Medlab Middle East 2024 to Highlight Groundbreaking NextGen Medicine
- bioMérieux Acquires Software Company LUMED to Support Fight against Antimicrobial Resistance
- Roche Acquires LumiraDx's Point of Care Technology for USD 295 Million
- Bruker Acquires IVD Manufacturer ELITech Group and Cell Imaging Company Phasefocus
- AMP Publishes Best Practice Guidance for Slice Testing Approach in Diagnostics