The polymerase chain reaction (pcr) global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Polymerase Chain Reaction (PCR) Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size – The polymerase chain reaction (PCR) market size has grown rapidly in recent years. It will grow from $10.33 billion in 2023 to $11.42 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to rising number of research facilities, increasing number of patients for chronic and infectious diseases, increasing prevalence of genetic and chronic disorders, increasing population, and growing geriatric population.
The polymerase chain reaction (PCR) market size is expected to see rapid growth in the next few years. It will grow to $17.17 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to the rising concerns over food safety, the increasing demand for safe and high-quality food products, the rising demand for molecular diagnostics, demand for personalized medicine, focus on digital polymerase chain reaction (dPCR). Major trends in the forecast period include real-time polymerase chain reaction, DNA sequencing technologies, diagnostic testing advancements, next-generation sequencing (NGS), microfluidics, lab-on-a-chip platforms, and advanced molecular diagnostic solutions development.
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Scope Of Polymerase Chain Reaction (PCR) Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Polymerase Chain Reaction (PCR) Market Overview
Market Drivers -The rising demand for personalized medicine is expected to fuel the growth of the polymerase chain reaction (PCR) market going forward. Personalized medicine, also known as precision medicine, refers to a medical approach that tailors healthcare decisions, practices, interventions, and treatments to individual characteristics of each patient. The demand for personalized medicine is increasing due to advancements in data analytics, patient-specific treatment responses, and the ability to tailor therapies based on individual genetic profiles. Polymerase Chain Reaction (PCR) helps personalized medicine by enabling the amplification and analysis of specific genetic sequences, allowing clinicians to tailor treatment plans based on individual genetic profiles. For instance, according to Personalized Medicine Coalition, a US-based professional membership organization, in 2022, approving 12 new personalized medicines represented approximately 34% of all newly approved therapies, indicating a substantial increase from previous years. Therefore, the rising demand for personalized medicine is driving the growth of the polymerase chain reaction market.
Market Trends – Major companies operating in the polymerase chain reaction market are developing real-time polymerase chain reactions test kit to improve accuracy, efficiency, and ease of use in genetic analysis. Real-time polymerase chain reaction (RT-PCR) is a laboratory developed test kit used to amplify and quantify specific DNA sequences in real time. For instance, in November 2022, Cepheid, a US-based molecular diagnostics company, launched Xpert Xpress Multiplex Vaginal Panel (MVP), an FDA-cleared multiplex PCR test that can detect DNA from organisms associated with three distinct vaginal infections – bacterial vaginosis (BV), vulvovaginal candidiasis, and trichomoniasis from a single vaginal swab sample. It enhances the capabilities of traditional polymerase chain reaction methods by providing real-time monitoring, quantification, and increased sensitivity and specificity, making it an indispensable tool in molecular biology and clinical diagnostics.
The polymerase chain reaction (PCR) market covered in this report is segmented –
1) By Type: Conventional Polymerase Chain Reaction, Other Types
2) By Indication: Infectious Diseases, Oncology, Genetic Disorders, Other Indications
3) By Application: Medical, Non-Medical
4) By End User: Hospitals And Clinics, Pharmaceutical And Biotechnology Industries, Diagnostic Centers, Academic And Research Organization
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Regional Insights – North America was the largest region in the polymerase chain reaction (PCR) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the polymerase chain reaction (PCR) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies operating in the polymerase chain reaction (PCR) market are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers GmbH, Becton, Dickinson and Company, GE HealthCare Technologies Inc, Laboratory Corporation of America Holdings (LabCorp), Quest Diagnostics Incorporated, Eurofins Scientific, Agilent Technologies Inc., Illumina Inc., PerkinElmer Inc., bioMérieux SA, Beckman Coulter Inc, Sysmex Corporation, Bio-Rad Laboratories Inc., Qiagen N.V., Natera Inc., Myriad Genetics Inc., BGI Genomics Co. Ltd., Cepheid, NeoGenomics Laboratories Inc., 23andMe Holding Co., Ambry Genetics Corporation, Biocartis SA, Centogene N.V., Veritas Genetics
Table of Contents
- Executive Summary
- Polymerase Chain Reaction (PCR) Market Characteristics
- Polymerase Chain Reaction (PCR) Market Trends And Strategies
- Polymerase Chain Reaction (PCR) Market – Macro Economic Scenario
- Global Polymerase Chain Reaction (PCR) Market Size and Growth
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- Key Mergers And Acquisitions In The Polymerase Chain Reaction (PCR) Market
- Polymerase Chain Reaction (PCR) Market Future Outlook and Potential Analysis
- Appendix
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