2022-2088 is the forecast period in the market report.
Polymerase chain reaction (PCR) devices, also known as thermocyclers, are commonly used in laboratories to amplify DNA segments through polymerase chain reactions. Cloning, DNA sequencing, library building, mutagenesis, and expression profiling are some of the key uses of PCR instruments.
Ongoing technological advancements in the field of polymerase chain reaction aim to improve the specificity, scalability and reliability of DNA amplification, thereby generating millions of amplicons of a target sequence in a short time span. PCR is used for a variety of applications, including the detection of pathogenic bacteria, disease diagnosis, molecular and genetic research, forensic DNA profiling, and parental testing. Rapid technological advances in the polymerase chain reaction to provide highly sensitive and optimized detection tools, the growing prevalence of chronic and infectious diseases, and increasing research funding in gene therapy and molecular testing are expected to fuel the growth of the global polymerase chain reaction market over the forecast period. Over the years, there has been a tremendous increase in research and development spending all over the world. This factor is anticipated to provide ample new growth opportunities for the market over the upcoming years.
The rising prevalence of chronic and infectious diseases and genetic disorders are important elements which are expected to drive demand for PCR technology over the forecast period. According to the CDC, chronic diseases such as cancer and diabetes, as well as chronic kidney and respiratory diseases such as asthma, are responsible for 7 out of 10 deaths in the United States each year. Moreover, the number of patients suffering from congenital heart disease is increasing, forcing medical professionals to seek molecular diagnostic tools for accurate diagnoses. According to the CDC, congenital heart defects are the most common birth defects in the United States, affecting approximately 1% of births each year. Thus, the increasing prevalence of diseases is expected to increase the demand for new molecular diagnostic tests during the forecast period.
The demand for genomic analysis techniques has grown steadily over the last decade due to their increasing use (microbial identification and detection of genetic mutations) in the diagnosis of major infectious diseases (such as tuberculosis, HIV, malaria, hepatitis, and staphylococcus) and genetic diseases (such as cancer and fragile X syndrome). In addition, the growing demand for point-of-care and self-testing tests is expected to drive the demand for polymerase chain reaction tests over the forecast period. Additionally, major market players are developing portable, fast and easy-to-use tools for point-of-care environments. This is expected to boost the growth of the market over the upcoming years.
Technological advances in PCR testing in terms of sensitivity, accuracy, efficiency, and cost-effectiveness are expected to increase the acceptance of PCR testing in clinical diagnostics. The growing number of automated instruments and their easy availability are among the key factors expected to drive the market. Also, technological improvements and the subsequent introduction of affordable and highly effective products are expected to provide increasing new growth opportunities for the market over the forecast period.
PCR tests can be used for the analysis of various infections. However, the costs associated with using PCR enhancements for symptomatic testing are high. Patients, therefore, do not prefer to opt for such tests. Likewise, many countries do not grant refunds for these tests. Implementing these tariffs would result in reduced reimbursement for key molecular tests, including hereditary diseases, molecular cytogenetics, and cancer testing. Also, the lack of reimbursement option is further expected to restrict the growth of the polymerase chain reaction market over the forecast period.
Lack of knowledge and awareness regarding polymerase chain reaction devices in emerging markets is expected to hamper the market’s growth. Also, a shortage of skilled healthcare professionals or a lack of trained experts is expected to challenge the growth of the polymerase chain reaction market over the forecast period.
The report provides an in-depth analysis of the global Polymerase Chain Reaction market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. The increasing demand for polymerase chain reaction instruments in various applications has led to the increasing demand for the market and is expected to witness growth at a specific CAGR from 2021-2028.
By type, the Polymerase Chain Reaction market includes the key segments of conventional PCR, real-time PCR, and digital PCR. The real-time PCR segment is expected to dominate the market over the forecast period. By product, the Polymerase Chain Reaction market includes the key segments of consumables and reagents, instruments, software, and services. The consumables and reagents segment is expected to maintain its dominance over the forecast period.
The Polymerase Chain Reaction market has major applications in the medical and non-medical sectors. The medical application segment is further segmented into clinical, research, forensics, and others. The clinical section is further sub-segmented into pathology testing, oncology testing, blood screening and others. The non-medical application segment is further segmented into food, agriculture, and others. The medical segment is expected to lead the market due to the high adoption rate of PCR tests for clinical diagnostics and research activities for the study of diseases and drug development. The Polymerase Chain Reaction market has major end users like hospitals and clinics, diagnostic centers, pharmaceutical and biotechnology industries, academic and research organizations, and others. The pharmaceutical and biotechnology industry segment is anticipated to grow at a high rate over the forecast period. The global Polymerase Chain Reaction market is studied for the following regions: North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is expected to hold the largest share of revenue over the forecast period.
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|Market Players and its
Hoffmann-La Roche AG
Fisher Scientific, Inc.
Dickinson and Company
& Johnson Private Limited
What would be forecast period in the market report?
2022-2088 is the forecast period in the market report.
Which is the leading application segment for Polymerase Chain Reaction market?
The medical segment has accounted the major market share, and is expected to witness the growth at highest pace during the forecast period.
Which region is gaining majority of market share during the forecast period (2022-2028)?
North America is expected to gain major market share during the forecast period (2022-2028).