Polymerase Chain Reaction Market Projected To Raise At USD 16.2 Billion By 2027

 San Francisco, 11 Dec 2020: The Report Polymerase Chain Reaction Market Size, Share & Trends Analysis Report By Type, By Product (Instruments, Consumables & Reagents, Software & Services), By Application, By Region, And Segment Forecasts, 2020 - 2027

The global polymerase chain reaction market size is expected to reach USD 16.2 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 17.5% from 2020 to 2027. High adoption of technology supported by the introduction of products based on polymerase chain reaction (PCR) for screening and diagnosis of infectious diseases is anticipated to drive the growth of the market. For instance, in March 2020, Bruker Corporation announced a distribution agreement with the subsidiary of Novacyt SA for the distribution of genesig real-time PCR coronavirus assay in the U.S., the U.K., Spain, France, and Germany.

Furthermore, the COVID-19 outbreak has increased the growth rate of polymerase chain reaction technology. Several kinds of research are being conducted for proving the accuracy of the PCR test. For instance, in March 2020, researchers of the Center for Advanced Measurement Science worked with Chongqing University in collaboration with the Centers for Disease Control and Prevention (CDC) of Wuhan and Beijing for detecting the sensitivity of dPCR kits. In addition, two more studies were conducted in China that suggested improved sensitivity as compared to gold standard RT-qPCR. Moreover, in March 2020, Bio-Rad Laboratories developed a dPCR test for the detection of the SARS-CoV-2 virus.

Furthermore, an increase in collaborations for the development of software is anticipated to drive the PCR market. For instance, in October 2019, Eurofins GeneScan Technologies GmbH announced a collaboration with UgenTec for the development of assay plugins to be used in FastFinder, the company’s real-time PCR analysis software platform. The partnership is expected to allow Eurofins to deploy its assays on a scale with included analysis and automated reporting of results, ensuring fast sample-to-result times required in feed, food, and seed testing.

Various research initiatives being undertaken coupled with increasing collaborations between companies for the development of tests are anticipated to drive the growth of the segment. In April 2020, Geisinger Health announced positive clinical trial data for CancerSEEK, which is a blood cancer screening test developed by the company in collaboration with John Hopkins University. Furthermore, in February 2019, Apostle, Inc. entered into an exclusive partnership with Beckman Coulter, Inc. for the development of Apostle MiniMax High-Efficiency Cell-Free DNA Isolation Kit.

The availability of a wide range of food safety assays is anticipated to boost the market growth. For instance, Thermo Scientific has developed assays such as SureTect Cronobacter Species PCR Assay, SureTect Listeria monocytogenes PCR Assay, TaqMan Candida albicans Assay, QuantStudio 5 Food Safety Real-Time PCR System, and RapidFinder Equine ID Kit. These assays detect quality indicators, spoilage organisms, and pathogens.

An increase in private and public funding support is expected to further fuel market growth. For instance, in March 2020, Biomedical Advanced Research and Development Authority funded USD 679,000 and USD 598,000 to DiaSorin Molecular, LLC, and QIAGEN LLC, respectively, to accelerate the development of Simplexa COVID-19 Direct Assay and QIAstat-Dx RPS2 test. Advancements in technology and the presence of sophisticated healthcare infrastructure are anticipated to further boost the market.

Furthermore, initiatives undertaken by government organizations to boost the adoption of the technology is anticipated to fuel market growth. For instance, in March 2020, the International Atomic Energy Agency (IAEA) announced a partnership with the Food and Agriculture Organization of the United Nations (FAO) for supporting the use of reverse transcription–PCR.

Access Research Report of Polymerase Chain Reaction Market @ https://www.grandviewresearch.com/industry-analysis/polymerase-chain-reaction-market

Polymerase Chain Reaction Market Report Highlights

• In 2019, other type of PCRs such as real-time PCR (qPCR), digital PCR (dPCR), multiplex, and ultrafast PCR held the majority of share owing to increasing demand and adoption due to its ability to detect pathogens and infection rapidly, automation, and cost-effective
• The consumables and reagents segment dominated the market in 2019 and is expected to witness the fastest growth over the forecast period due to the wide range of assay menu, increasing usage of PCR tests in hospitals and research centers
• The medical segment held the largest revenue share owing to rising research activities for DNA cloning, microbiome analysis, gene expression, and others
• In Asia Pacific, the PCR market is projected to witness the fastest growth during the forecast period owing to the high unmet needs and rising healthcare expenditure
• North America dominated the market in 2019 due to the presence of key players and rising initiatives to raise awareness among healthcare professionals and patients

List of Key Players of Polymerase Chain Reaction Market 

• Abbott
• Qiagen
• Thermo Fisher Scientific, Inc.
• Bio-Rad Laboratories, Inc.
• bioMérieux SA
• Hoffmann-La Roche Ltd
• Agilent Technologies, Inc.
• Fluidigm Corporation

Access Press Release of Polymerase Chain Reaction Market @ https://www.grandviewresearch.com/press-release/global-polymerase-chain-reaction-market