PCR And Realtime PCR Testing Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope

Polymerase chain reaction (PCR) and Real-time Polymerase chain reaction (PCR) tests are used to detect and measure the DNA (or RNA) in a sample. These tests are conducted in automated thermal cyclers less sensitive to cross-contamination. It finds applications in cloning, genotyping, mutation testing, paternity testing, sequencing, and microarrays.

Sizing and Forecast

The pcr and realtime pcr testing market size has grown strongly in recent years. It will grow from $20.86 billion in 2023 to $22.03 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to disease diagnosis, research and genomic studies, automation and high throughput, pharmaceutical and biotechnology applications, point-of-care testing.

The pcr and realtime pcr testing market size is expected to see strong growth in the next few years. It will grow to $27.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to pandemic response, precision medicine, cancer diagnostics, infectious disease surveillance. Major trends in the forecast period include infectious disease testing, point-of-care testing, digital pcr, multiplex assays.

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Segmentation & Regional Insights

The pcr and realtime pcr testing market covered in this report is segmented –

1) By Product: Consumables And Reagents, Instruments, Software And Services

2) By Technology: Quantitative PCR, Digital PCR

3) By Application: Clinical Diagnostics, Life Science Research, Industrial Applications, Other Applications

4) By End-Use: Academic And Research Institutes, Pharmaceutical And Biotechnology, Clinical Diagnostics Labs And Hospitals, Other End Users

Asia-Pacific was the largest region in the PCR and real-time PCR testing market in 2023. Western Europe was the second-largest region in the PCR and real-time PCR testing market. The regions covered in the pcr and realtime pcr testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

Early detection plays a key role in treating COVID-19 patients. The real-time RT-PCR technique is a susceptible and specific testing method that can deliver a reliable diagnosis in as fast as three hours, unlike the other laboratory tests that take an average of 6 to 8 hours. Real-time RT-PCR is significantly faster and has a lower potential for contamination or errors as the entire process is within a closed tube. Therefore, currently, it is considered to be the most accurate method available for the detection of coronavirus. This has created a huge demand for the growth of PCR testing market kits.

Key Industry Players

Major companies operating in the pcr and realtime pcr testing market include Abbott Laboratories, Agilent Technologies Inc., bioMérieux SA, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd., QIAGEN N.V., GenMark Diagnostics Inc., Thermo Fisher Scientific Inc., General Electric Company, Danaher Corporation, Becton Dickinson and Company, Luminex Corporation, Meridian Bioscience Inc., Fluidigm Corporation, RainDance Technologies Inc., BioFire Diagnostics LLC, Cepheid Inc., Illumina Inc., Oxford Nanopore Technologies Ltd., Pacific Biosciences of California Inc., Promega Corporation, Takara Bio Inc., Twist Bioscience Corporation, Zymo Research Corporation, BioChain Institute Inc., BioLegend Inc., Bioo Scientific Corporation, Creative Diagnostics, Eurofins Scientific SE, Myriad Genetics Inc.

The pcr and realtime pcr testing market report table of contents includes: