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Polymerase Chain Reaction Market to Witness a Healthy Growth during 2016-2023

Polymerase Chain Reaction Market

Polymerase chain reaction is a novel molecular diagnostic technology wherein DNA and RNA samples are amplified to form numerous copies of the same. This helps in better detection of diseases. This technology was developed by Kary Mullis in 1983. As more than two decades have passed since the evolution of PCR, the market is in a mature stage for standard PCR systems. In recent times, advances in technology have paved the way for the evolution of real-time PCR and digital PCR systems. Continuous technology advancements are making it more efficient and user-friendly, but the high cost of the instruments, servicing contracts, and reagents pose major challenges for the market, especially to the price-sensitive academics. Currently, the market players are involved in enhancing the capabilities of the PCR systems, and increasing its specificity and sensitivity.

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Market Analysis

The global polymerase chain reaction market is estimated to witness a CAGR of 9.91% during the forecast period 2017–2023. The global polymerase chain reaction market is analyzed based on four segments – products, application, end-users, and regions.

The market is witnessing an emerging trend of digital and droplet digital PCR technology, which is sensitive and accurate than the traditional method.

Regional Analysis

The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). North America is the leading region for the polymerase chain reaction market followed by Europe. Asia Pacific and ROW are set to be the emerging regions.

The markets in India, Brazil, and China are also expected to grow at a rapid pace during the forecast period.

Product Analysis

The market is segmented into instruments, reagents & consumables, and software & services. Reagents hold the largest share of the global polymerase chain reaction market, and is expected to exhibit the fastest growth during the forecast period.

The increasing use of PCR in genetic and molecular analysis, the advent of digital PCR technology are the key factors driving the market. The high cost of the instrument, dearth of skilled labors, competing technologies, such as NGS and microarray and stringent government regulations are factors restricting the market growth.

Application Analysis

The application of PCR is predominant in clinical diagnostics, life sciences, and others. The life sciences segment holds the largest share in the market. But the market for clinical diagnostics is expected to grow rapidly due to the increasing adoption of PCR systems for the diagnosis of diseases. The market is also witnessing various mergers, acquisitions, and collaborations among the top players, which is defining the future of the global polymerase chain reaction market.

End-users Analysis

The end-users of PCR are hospitals, pharmaceutical & biotechnological companies, academics, and others (blood banks). Academics held a large market share in the PCR market in 2016. The demand for precise diagnosis of chronic diseases has increased in hospitals and diagnostic laboratories, which, in turn, will increase the growth rate of the global PCR market.

Key Players

Thermo Fisher, Bio-Rad Laboratories, F. Hoffmann-La Roche, Abbott Laboratories, Merck KGaA, Becton Dickenson & company, Promega, Qiagen N.V., and Agilent Technologies are the key players in the market.

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Competitive Analysis

At present, the reagents and consumables are dominating the global polymerase chain reaction market. A lot of new players are focusing on developing real-time PCR instruments and reagents to gain future business opportunities. Major players in the market are involved in acquiring small players with advanced technology products to maintain leadership. For instance, Merck KGaA acquired Sigma-Aldrich Corporation, a multinational biotechnology company, making them one of the major players in the PCR reagents market. In January 2017, Bio-Rad entered into an agreement to acquire RainDance Technologies to strengthen the digital PCR and liquid biopsy segments of the company.

Benefits

The report provides complete details about the usage and adoption rate of PCR in various verticals and regions. This enables the key stakeholders to know about the major trends, drivers, investments, vertical player’s initiatives, and government initiatives toward PCR adoption in the market. Moreover, the report provides details about the major challenges that are impacting the market growth. Additionally, the report gives complete details about the key business opportunities to key stakeholders to expand their business, increase their revenue, and analyze before investing or expanding the business in this market.

Report Description: https://www.trendsmarketresearch.com/report/analysis/IR/global-polymerase-chain-reaction-market

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