Global Polymerase Chain Reaction Market to Surpass US$ 11,142.2 Million by 2030 - Coherent Market Insights

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Jul 21, 2022, 14:30 ET

SEATTLE, July 21, 2022 /PRNewswire/ -- According to Coherent Market Insights, the global polymerase chain reaction market is estimated to be valued at US$ 5,627.9 million in 2022 and is expected to exhibit a CAGR of 8.9% during the forecast period (2022-2030).

Key Trends and Analysis of the Global Polymerase Chain Reaction Market:

Major Key players are involved in several collaborations to expand their geographical horizon and increase patient reach. For instance, in March 2018, Akonni Biosystems Inc., a molecular diagnostics (MDx) company and a Chinese in-vitro diagnostics company: Righton signed a commercial agreement, which enables Righton to sell Akonni's TruDiagnosis and TruTip Nucleic Acid Purification Kits in China. TruDiagnosis is based on proprietary on-slide PCR and gel-drop microarray technology. In January 2018, Thermo Fisher Scientific and Illumina, Inc., signed a commercial agreement. Under the agreement, Thermo Fisher will provide Ion AmpliSeq technology to Illumina for research purpose. Moreover, in December 2017, Genome Diagnostics (GenDx) signed a global reseller agreement with Thermo Fisher Scientific, assigning GenDx as a non-exclusive reseller of Thermo Fisher's QuantStudio real-time PCR instrument. Under the agreement, GenDx will market the QuantStudio real-time PCR in the Netherlands and other European countries. Thus, significant organic and inorganic growth strategies by various key players is driving growth of the global polymerase chain reaction market.

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Key Market Takeaways:

The global polymerase chain reaction market is expected to exhibit a CAGR of 8.9% during the forecast period due to the increasing adoption of inorganic growth strategies such as acquisition by the key players in the market. For instance, in March 2021, Agilent Technologies Inc., the U.S. based analytical instrumentation development and manufacturing company acquired Resolution Bioscience Inc., a leader in the development and commercialization of next-generation sequencing (NGS)-based precision oncology solutions and expands Agilent's capabilities in NGS-based cancer diagnostics and provides the company with innovative technology to further serve the needs of the fast-growing precision medicine market. Under the terms of the agreement, Agilent will pay US$ 550 million in cash at closing and up to an additional US$ 145 million based on achieving future performance milestones.
Among end user, academic and research laboratories hold largest market share, owing to the increasing adoption of inorganic strategies like acquisition for need of polymerase chain reaction (PCR) system in advanced laboratory testing and research services. For instance, in February 2022, Labcorp, the U.S. based Testing Laboratories Company, acquired Personal Genome Diagnostics, a leader in cancer genomics with a portfolio of comprehensive liquid biopsy and tissue-based products. These acquisition helps addition of PGDx and its technology complements and accelerates Labcorp's existing liquid biopsy capabilities and expands Labcorp's leading oncology portfolio of next-generation sequencing (NGS)-based genomic profiling capabilities, positioning Labcorp at the forefront of driving better patient outcomes in oncology.
Among region, North America holds the largest share, owing to increasing adoption of inorganic strategies like merger and acquisition by the key players in the market in that region. For instance, in January 2021, Thermo Fisher Scientific Inc., the U.S. based company of scientific instrumentation, reagents and consumables, and software services acquired Mesa Biotech, Inc., a privately held molecular diagnostic company. Thermo Fisher Scientific Inc. acquired Mesa Biotech, Inc. for developing and commercialized a PCR-based rapid point-of-care testing platform available for detecting infectious diseases including SARS-CoV-2, Influenza A and B, respiratory syncytial virus (RSV) and Strep A. Moreover, in June 2021, Veracyte, the U.S. based Biotech company acquired HalioDx, an immuno-oncology diagnostics company, gaining a portfolio of immune assessment solutions and accelerate growth and strengthen Veracyte's global leadership in cancer diagnostics.

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Detailed Segmentation:

Global Polymerase Chain Reaction Market, By Product Type:

Instruments

Real Time PCR
Digital PCR
Others

Reagents and consumables

Global Polymerase Chain Reaction Market, By End User:

Clinical Diagnostics
Academic and Research Laboratories
Forensic Laboratories
Others

Global Polymerase Chain Reaction Market, By Region:

North America

By Country:

U.S.
Canada

Europe

By Country:

U.K.
Germany
Italy
France
Spain
Russia
Rest of Europe

Asia Pacific

By Country:

China
India
Japan
ASEAN
Australia
South Korea
Rest of Asia Pacific

Latin America

By Country:

Brazil
Mexico
Argentina
Rest of Latin America

Middle East & Africa

By Country:

GCC Countries
Israel
South Africa
Rest of Middle East & Africa

Company Profiles

F. Hoffmann-La Roche Ltd. *

Company Highlights
Products Portfolio
Key Highlights
Financial Performance
Strategies

Bio-Rad Laboratories, Inc.
Thermo Fisher Scientific Inc.
Agilent Technologies, Inc.
BioMérieux, S.A.
Enzo Life Science, Inc.
Abbott Laboratories
Takara Bio Inc.
Becton, Dickinson and Company
Danaher Corporation

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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