Asia Pacific is expected to grow at the highest CAGR in the PCR technologies market during the forecast period
Northbrook, IL -- (SBWIRE) -- 05/04/2021 -- According to the new market research report "PCR Technologies Market by Technology (Conventional, qPCR, dPCR), Product (Instrument, Reagents, Software), Application (Genotyping, Sequencing, Gene expression, diagnostics), Enduser (Academia, pharma-biotech, applied)-Global Forecast to 2025", published by MarketsandMarkets™, the PCR Technologies Market is projected to reach USD 9.8 billion by 2025 from USD 7.2 billion in 2020, at a CAGR of 6.3%
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126 – Tables
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193 – Pages
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The rising incidences of target diseases (such as HIV, malaria, tuberculosis, and cancer) and genetic disorders; increasing use of biomarker profiling for disease diagnosis and monitoring; and successful completion of the Human Genome Sequencing Project are a few key factors driving the growth of this market. In addition, ongoing technological advancements in PCR technologies and support for genomic research have contributed to market growth.
The reagents and consumables segment is expected to account for the largest share of the PCR technologies market in 2020. This is mainly due to the expanding applications of dPCR, the increasing number of dPCR-based analytical procedures among institutional researchers (such as CROs and pharma-biotech companies), and the rising availability of novel dPCR reagents worldwide. Additionally, the expansion of the application base of the dPCR technology in genetic/molecular research, clinical diagnosis, and forensics is expected to result in the commercialization of novel dPCR reagents.
The qPCR segment is expected to command the largest share of the PCR technologies market. Factors such as the expanding applications of qPCR (owing to its technological benefits over traditional PCR, such as real-time analysis and reduced analysis time), growing private-public funding for life sciences research, and the rising number of probe-based multiplex genetic analysis procedures (that require the analysis of low-volume gene samples) are expected to drive the growth of the qPCR market.
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North America accounts for the largest share of the PCR technologies market. However, the Asia Pacific is expected to grow at the fastest CAGR during the forecast period. The high growth of this segment is mainly attributed to the ongoing expansion & modernization of healthcare infrastructure in emerging Asian countries, increasing number of research projects in China, India, and Japan in the fields of genomics and cancer, rising outsourcing of clinical research to Asia-based CROs by leading drug manufacturing companies, and continuous government support for genomics-based research activities in emerging Asia Pacific countries.
The major players operating in the PCR technologies market are Thermo Fisher Scientific, Inc. (US), F. Hoffman-La Roche Ltd. (Switzerland), Bio-Rad Laboratories, Inc. (US), QIAGEN N.V. (Germany), Takara Bio, Inc. (Japan), 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).