Polymerase Chain Reaction Market Estimated At USD 25.3 Billion By 2028

 San Francisco, 7 Jan 2022: The Report Polymerase Chain Reaction Market Size, Share & Trends Analysis Report By Type, By Product (Instruments, Consumables & Reagents), By Application, By Region, And Segment Forecasts, 2021 - 2028

The global polymerase chain reaction market size is expected to reach USD 25.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is estimated to expand at a CAGR of 0.9% from 2021 to 2028. This is driven by an increase in demand for rapid diagnostic tests and technological advancements.

Key players operating in the market are focusing on introducing novel and technologically advanced devices for PCR tests. For instance, in July 2017, Bio-Rad Laboratories launched droplet digital PCR Genome Edit Detection Assays to quantify the efficiency of CRISPR-Cas9 or any other genome using the technology of Bio-Rad’s droplet digital polymerase chain reaction. This technology has gained prominence over the past few years.

Furthermore, the COVID-19 outbreak has increased the growth rate of dPCR technology. Several types of research activities are being conducted for proving the accuracy of the dPCR 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 Prevention and Control 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.

Various research initiatives being undertaken coupled with increasing collaborations between companies for the development of tests are factors anticipated to drive the growth of the segment. In May 2020, Xiamen University, in collaboration with the Chinese University of Hong Kong and University of Connecticut, was engaged in the development of an experimental procedure for developing and validating a qPCR assay for the detection of Symbiodiniaceae genera. Furthermore, sxtA-based qPCR tests were proved to be effective against Alexandrium catenella in 2019.

Government initiatives undertaken to boost testing capacity are expected to drive the market. For instance, in September 2020, the National Institutes of Health offered USD 129.3 million under the Rapid Acceleration of Diagnostics (RADx) initiative to drive manufacturing and usage of RT-PCR. The growing number of tests conducted by governments to counter the COVID-19 pandemic is expected to act as a driver for qPCR and dPCR market. For instance, Iceland has conducted 135 tests per 1,000 population.

The introduction of novel PCR such as plasmonic PCR in the PoC diagnostics platform is expected to be a disruptive technology, as existing PCR platforms are slow, expensive, and energy costly. Therefore, the development of lower-cost PoC technology with high accuracy is expected to reduce the procurement cost for medical use and overall laboratory cost of a patient in countries of Asia Pacific, North America, and Europe.

Moreover, initiatives are undertaken by key players to enhance their product portfolios and global presence. For instance, in September 2020, Qiagen acquired NeuMoDx Molecular, Inc. for USD 248 million. The acquisition is anticipated to boost Qiagen’s PCR portfolio and enhance its global presence as well as customer access. 

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 2020, the others type segment which includes real-time PCR (qPCR), digital PCR (dPCR), multiplex, and ultrafast PCR held a majority of the share. Increasing demand and high adoption due to its ability to detect pathogens and infection rapidly, automation, and cost-effective are factors supporting segment growth
• The consumables and reagents segment dominated the market in 2020 owing to increased demand for consumables and reagents to meet the heightened testing demands during the pandemic
• The medical segment held the largest revenue share in 2020 due to an increase in clinical testing along with rising research activities for DNA cloning, microbiome analysis, and gene expression
• In Asia Pacific, the market is projected to witness the fastest growth during the forecast period owing to high-unmet needs and improving healthcare infrastructure
• North America dominated the market in 2020 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 (PCR) Market

• Abbott
• Qiagen
• Thermo Fisher Scientific, Inc.
• Bio-Rad Laboratories, Inc.
• bioMérieux SA
• Hoffmann-La Roche Ltd
• Agilent Technologies, Inc.
• Fluidigm Corporation
• Cytiva
• Stilla Technologies
• Microsynth AG
• JN Medsys
• Danaher Corporation

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