Polymerase chain reaction Market by Technology by Technology (Real-Time PCR, Traditional PCR, and Digital PCR), Product (Reagents & Consumables, Instruments, Software, and Services), Application (Clinical, Research, and Forensics), and End User (Diagnostic Centers & Hospitals, Biotech & Pharma Companies, and Academic & Research Institutions) - Global Opportunity Analysis and Industry Forecast, 2017-2023
Portland, OR -- (SBWIRE) -- 12/06/2017 -- The global polymerase chain reaction market was valued at $7,027 million in 2016, and is estimated to reach $10,776 million by 2023, registering a CAGR of 6.2% from 2017 to 2023. The need of effective diagnostic molecular technique in healthcare to detect diseases fuels the demand for the growth of the market.
Polymerase chain reaction (PCR) is an important scientific technique in molecular biology that amplifies single or few copies of a piece of DNA. In addition, it is helpful in generating thousands to millions of copies of a particular DNA sequence and investigating diseases such as AIDS, tuberculosis, Lyme disease, and middle ear infections. The technology involves three major steps-denaturation, annealing, and extension. It is applicable in medical, research, clinical diagnostics, and forensics. It has been utilized since decades as a standard method for research on nucleic acids (RNA and DNA) in laboratories. PCR technologies available in market are real-time quantitative (qPCR), digital PCR (dPCR), inverse PCR, multiplex PCR, assembly PCR, and standard PCR.
Rise in number of diagnostic centers and hospitals, completion of the human genome project, high prevalence of diseases, increase in the geriatric population, technological advancements, and high investments by private and public organizations drive the market. However, technical limitations related to qPCR and dPCR products and high cost of dPCR devices restraint the market growth. In addition, accurate and timely results for RT-PCR is a major challenge faced by the PCR market. Reduction in number of PCR processes makes the process less tedious and may open avenues of opportunities for the PCR market.
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The report segments the market by technology, product, end user, application, and geography. In terms of technology, it is segmented into real-time PCR, traditional PCR, and digital PCR. Based on product, it is classified into reagents & consumables, instruments, software, and services. Based on application, it is categorized into clinical, research, and forensic applications. Based on end user, it is divided into diagnostic centers & hospitals, biotech & pharma companies, and academic & research institutions. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Healthcare giants have adopted product developments & commercialization, collaborations, partnerships, and agreements as their key strategic moves for the development of their portfolios. For instance, LGC Ltd. acquired Biosearch Technologies in 2015 to extend its expertise in qPCR market. Moreover, Sygnis AG launched SunScript one-step RT-qPCR kit in January 2016, which is useful in gene expression analysis. These developments by market giants have led to the market growth.
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KEY BENEFITS FOR STAKEHOLDERS
- This report offers a detailed quantitative analysis of the current market trends from 2016 to 2023 to identify the prevailing opportunities.
- The market estimations provided in this report are based on comprehensive analysis of the key developments in the industry.
- The global market is comprehensively analyzed with respect to technology, product, end user, application, and geography.
- In-depth analysis based on geography facilitates in analyzing the regional market to assist in strategic business planning.
- The development strategies adopted by key manufacturers are enlisted in the report to understand the competitive scenario of the market.