Market estimations are based on comprehensive analysis of the key developments in the industry.
Portland, OR -- (SBWIRE) -- 06/11/2018 -- According to a new report published by Allied Market Research, titled, Polymerase Chain Reaction Technologies Market by Technology, Products, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023, the polymerase chain reaction technologies market accounted for $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. North America is the highest contributor in the polymerase chain reaction technologies market; however, Asia-Pacific is expected to witness the highest growth rate.
The real-time PCR segment is the major contributor towards the global PCR market in 2016, due to several factors including increase in use of qPCR in research and medical diagnostics, technological advancements, growing use of robotics for lab automation, and expansion of installation base.
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Polymerase chain reaction (PCR) is one of the revolutionary technology that was earlier used in research institutions, pharmaceutical, and biotechnology industries. However, due to the advancement in technology, PCR can help to precisely diagnoses life-threatening diseases such as cancer and Ebola, which boosts the popularity and usage of PCR in the commercial diagnostic laboratories and hospitals.
The market is expected to observe a steady growth owing to the expansion in its application areas and increased accuracy and precision. Moreover, the advantages of using PCR technologies such as digital PCR (dPCR) and real-time PCR (qPCR) such as real-time process monitoring, low reagent consumption, automation of workflow, and greater reproducibility and precision. There is a rise in the number of acquisition of standalone laboratories with minimal infrastructure in less developed areas by multi-chain diagnostic laboratories due to the expected increase in the demand for diagnostics techniques in these regions. There is a strong demand for compact and portable PCR with high reliability and sensitivity along with high affordability. These advanced features help provide lucrative growth opportunities for PCR market.
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Key Findings of the Polymerase Chain Reaction Technologies Market:
- Digital PCR segment is projected to grow at the highest rate during the analysis period.
- Reagents and consumables segment was the highest revenue-generating segment in 2016, and is expected to continue its dominance in future.
- North America dominated global polymerase chain reaction technologies market in 2016, and is projected to continue its dominance in future.
- China is expected to grow highest in the Asia-Pacific region during the forecast period.
- Services segment was the largest contributor among the products and services segments.
Key players operating in the market are Thermo Fisher Scientific Inc., Sygnis AG, LGC Ltd, Bio-Rad Laboratories Inc., Agilent Technologies, Inc., BioMerieux S.A., RainDance Technologies, Inc., Affymetrix Inc., Fluidigm Corporation, and Takara Bio Inc.
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About Allied Market Research
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. The data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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