The Polymerase Chain Reaction (PCR) global market is estimated to be $21,408.8 million in 2020
The factors driving the market are raising the incidence of infectious and non-infectious diseases, increase in demand for early disease detection, diagnosis & treatment, growing focus towards the development of personalized medicine, increasing advancements in PCR technologies and increasing demand for point of care testing.
However, lack of skilled personnel to use advanced PCR Instruments and data analysis software, high cost of advanced instruments, presence of alternative molecular and immunology techniques, and stringent government regulations are expected to hamper the market growth.
PCR is an enzymatic reaction process in which multiple copies of desired DNA sequence is obtained in a short period of time. The technique is broadly accepted in research and clinical diagnostic application due to its high accuracy and sensitivity.
The evolution of PCR instruments with different designs such as interchangeable modules, dual & multiblock capacity, development of advanced Real-time PCR and digital PCR with multiplexing and analytical capabilities, development of various reagents & consumables and incorporation of microfluidic and other advanced technologies for the development of portable PCR will further advance the PCR applications in clinical diagnostic and industrial applications.
The factors such as increasing R&D and health care expenditure, increase in the incidence of infectious diseases particularly COVID-19 and non-infectious diseases with increased demand for early detection, diagnosis & treatment, increasing funding from the government for the disease research, development of diagnostic and therapeutic solutions, growing focus towards personalized medicine and a growing number of startup companies engaged in developing advanced digital PCR systems & portable PCR solutions to use in research & diagnostics are driving the market.
The PCR global market is competitive and all the players in this market are involved in innovating new and advanced products to maintain their market shares.
The key players in the PCR global market include
Abbott Laboratories, Inc.
Becton Dickinson and Company
Exact Sciences Corporation
F.Hoffmann-La Roche Ltd
Thermo Fisher Scientific, Inc.
Factors Influencing Market
Drivers and Opportunities
Rising Incidence of Infectious and Non-Infectious Diseases and Demand for Early Detection, Diagnosis & Treatment
Increasing Focus Towards the Development of Personalized Medicines
Growing Demand for Point of Care Testing
Increasing Demand for Prenatal Testing
Restraints and Threats
Lack of Skilled Personnel to Use Advanced Instruments
High Cost of Advanced PCR System
Development of Alternate Technologies
Stringent Regulatory Framework Limits Advancements in the PCR Market