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. Abbott, Qiagen, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., bioMérieux SA are some of the key players in this industry
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.
Related Press
Release@ Polymerase
Chain Reaction Market Report
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
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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