The global polymerase chain reaction market size is expected to reach USD 16.82 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of -9.3% from 2023 to 2030. The demand for polymerase chain reaction (PCR) testing is expected to be driven by the increasing demand for advanced diagnostic techniques; rising forensic and research applications; and the growing prevalence of diseases such as chronic diseases, infectious diseases, and genetic disorders. Moreover, increasing demand for genetic testing procedures and the introduction of novel technologies are other key factors likely to increase the demand for PCR testing.
Polymerase Chain Reaction Market Report Highlights
- In 2022, the medical application segment dominated the market owing to the rising application of PCR in clinical diagnostics and drug development and research
- The consumables and reagents product segment held the largest revenue share in 2022 and is expected to retain its dominance over the forecast period
- North America dominated the market in 2022 due to the presence of favorable regulations and various initiatives about the advancements in healthcare infrastructure undertaken by the government and the high prevalence of diseases in the region
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Polymerase chain reaction (PCR) is a laboratory technique for rapidly generating millions to billions of copies of a specific segment or targeted parts of a DNA in vitro quickly and accurately, which can then be studied in greater detail. PCR is commonly used for a wide variety of applications as genotyping, cloning, mutation detection, sequencing, microarrays, forensics, and paternity testing. PCR and other molecular biology techniques enable the diagnosis of infectious microbes that cause maxillofacial infections. It is based on three simple steps, denaturation of the template into single strands; annealing of primers to each original strand for new strand synthesis; and extension of the new DNA strands from the primers.
The market is expected to witness growth opportunities owing to factors such as the increasing adoption of advanced diagnostic tests and the growing adoption of PCR technologies in medical and non-medical applications. Moreover, the launch of novel technologies, an increasing number of CROs, and research and forensic laboratories are expected to propel the demand forward during the forecast period. Several research institutes and CROs are involved in genomics-based research to develop innovative strategies for disease management.
The introduction of novel and technologically advanced tests is opening new growth opportunities. For instance, in January 2021, GeneIQ announced the launch of its 4-in-1 PCR test for the detection of influenza B (Flu B), influenza A (Flu A), respiratory syncytial virus (RSV), and SARS-CoV-2. Similarly, in December 2020, Menarini Diagnostics launched a molecular test that is used to distinguish between Flu and SARS-CoV-2. Such initiatives will increase the demand for novel PCR tests.
Favorable initiatives undertaken by government bodies are encouraging the players to develop novel molecular tests for different applications. For instance, in January 2020, the University of Helsinki in collaboration with the European Union under the EU/EFPIA Innovative Medicines Initiative Joint Undertaking, funded research for the assessment of qPCR for microbiota profiling. In the study, the iCycler iQ thermal cycler system was used with HOT FIREPol EvaGreen qPCR Mix Plus for studying Clostridium cluster XIVa. Moreover, in March 2020, International Atomic Energy Agency (IAEA) announced a partnership with the Food and Agriculture Organization of the United Nations (FAO) for supporting the use of reverse transcription-PCR.
Several companies are adopting strategies such as acquisitions for strengthening their positions. Acquisition assists companies to enhance their offerings, capabilities, and competencies. For instance, in January 2021, Thermo Fisher Scientific, Inc. announced that it has acquired Mesa Biotech, Inc. – a molecular diagnostic company for USD 450 million to strengthen its product portfolio. Thus, various strategies adopted by companies are anticipated to propel the demand forward over the forecast period.
Polymerase Chain Reaction Market Insights By Region
North America held the largest revenue share and is anticipated to maintain its position during the forecast period. The presence of favorable regulations and various initiatives about the advancements in healthcare infrastructure undertaken by the government, the high prevalence of diseases, and the presence of key players in the region are supporting the growth of the regional market. Asia Pacific is one of the lucrative regions and is creating new opportunities for global leaders. The untapped opportunities, high unmet clinical needs, and rising healthcare expenditure by Asia Pacific countries are encouraging global players to invest in the region. The rising prevalence of various target diseases and technological advancements are likely to expand PCR demand during the forecast period.
Competitive Analysis By Major Companies
The industry is highly competitive due to the presence of a large number of regional and global players. The presence of a strong product portfolio and increasing investment in R&D activities are expected to help companies maintain their share in the market. Some prominent players in the global polymerase chain reaction market include:
- Thermo Fisher Scientific Inc.
- Danaher
- Abbott
- Bio-Rad Laboratories, Inc.
- Agilent Technologies, Inc.
- QIAGEN
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Grand View Research has segmented the global polymerase chain reaction market based on type, product, application, and region:
- Polymerase Chain Reaction Type Outlook (Revenue, USD Million; 2018 – 2030)
- Polymerase Chain Reaction Product Outlook (Revenue, USD Million; 2018 – 2030)
- Polymerase Chain Reaction Application Outlook (Revenue, USD Million; 2018 – 2030)
- Polymerase Chain Reaction Regional Outlook (Revenue, USD Million; 2018 – 2030)
- List of Key Players in the Polymerase Chain Reaction Market
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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