PCR Technologies Market worth $18.3 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Nov. 17, 2022 /PRNewswire/ -- PCR Technologies Market is expected to reach USD 18.3 billion by 2027 from an estimated USD 12.5 billion in 2022, at a CAGR of 8.0% from 2022 to 2027 according to a new report by MarketsandMarkets™. Market growth is mainly driven by the rising incidence of target infectious diseases and genetic disorders, continuous advancements in PCR technologies and increasing investments. In addition, growing market penetration in emerging countries are expected to offer growth opportunities for players in the PCR technologies market. However, issues related to high instrument costs—especially that of dPCR—and the technical limitations of PCR are expected to hinder the growth of the PCR technologies market during the forecast period.

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The Reagents and Consumables segment accounted for the largest share of the PCR technologies market, by product, in 2021

Based on products, the PCR technologies market is segmented into instruments, reagents and consumables, and software and services. In 2021, the reagents and consumables segment accounted for the largest share of the PCR technologies market. This is mainly due to the increase in application base of the dPCR technology and developing demand of analytical procedures based on dPCR, among researchers and pharma-biotech companies. Additionally, bundles sales of PCR reagents along with the purchase of PCR instruments and long-term sales contract for PCR reagents upon device upgradation is also a major factor driving the demand and adoption of PCR reagents and consumables in major markets.

The qPCR segment accounted for the largest share of the PCR technologies market, by technique, in 2021

Based on technique, the PCR technologies market is segmented into conventional PCR, real-time PCR (qPCR), digital PCR (dPCR), reverse transcription PCR (RT-PCR), hot-start PCR, multiplex PCR, and other PCR techniques. The largest share of the market was accounted by qPCR segment in 2021. Factors such as the ongoing automation of the laboratory techniques; expansion of qPCR applications, due to its technological benefits over traditional PCR; increased funding, grants and private-public investments for qPCR-based research and large installation base of qPCR instruments are expected to drive the growth of the qPCR market.

The Diagnostic application segment, by application, accounted for the largest share of the global PCR technologies market in 2021

On the basis of application, the PCR technologies market is segmented into gene expression analysis, genetic sequencing, genotyping, nucleic acid detection, nucleic acid synthesis, standard validation/verification, diagnostic applications, environmental applications, and other applications. The diagnostic application segment accounted for the largest share of the market in 2021. This can be attributed to the significant transformation from a conventional DNA quantification technique into an advanced diagnostic technique used in several diagnostic applications, such as prenatal testing, disease diagnoses, pathogen detection and the identification of blood-borne diseases during blood transfusion.

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On the basis of End Users, Hospitals and Diagnostic Centers segment accounted for the largest share of the global PCR technologies market, in 2021

On the basis of end users, the PCR technologies market is segmented into hospitals and diagnostic centers, healthcare industry, academia and government organizations, pharma-biotech companies, applied industries, and other end users. The hospitals and diagnostic centers segment accounted for the largest share of the PCR technologies market in 2021. The increasing market availability of qPCR reagents for clinical diagnosis, ongoing expansion of healthcare infrastructure in emerging APAC and Eastern European countries, and the continuous reduction in the cost of qPCR reagents are some of the factors driving the segment.

The Asia Pacific market is expected to grow at the highest CAGR during the forecast period

The global PCR technologies market is segmented into North America (comprising the US and Canada), Europe (includes Germany, France, and the UK), the Asia Pacific (includes Japan, China, India), Latin America (Brazil, Mexico), and the Middle East & Africa. In 2021, North America accounted for the largest share of this market, followed by Europe. However, the Asia Pacific is expected to grow at the fastest CAGR during the forecast period. The high growth of this segment is mainly attributed to the ongoing expansion & modernization of healthcare infrastructure in emerging Asian countries, increasing number of research projects in China, India, and Japan in the fields of genomics and cancer, rising outsourcing of clinical research to Asia-based CROs by leading drug manufacturing companies, and continuous government support for genomics-based research activities in emerging Asia Pacific countries.

As of 2021, the PCR technologies market is dominated by Thermo Fisher Scientific, Inc. (US), F. Hoffman-La Roche Ltd. (Switzerland), Bio-Rad Laboratories, Inc. (US), QIAGEN N.V. (Germany), Takara Bio, Inc. (Japan). Other leading players are Agilent Technologies, Inc. (US), bioMérieux S.A. (France), Fluidigm Corporation (US), Danaher Corporation (US), Abbott Laboratories (US), Merck KGaA (Germany), Becton Dickinson and Company (US), Promega Corporation (US), Eppendorf AG (Germany), and Analytik Jena AG (Germany).

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