PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1174543
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1174543
PCR Technologies Market size was valued at USD 12,317.1 Million in 2021, expanding at a CAGR of 10.2% from 2022 to 2028.
In PCR technology, a section of the genome to be amplified is chosen using short synthetic DNA fragments called primers. Multiple rounds of DNA synthesis are then used to amplify that segment. The DNA polymerase used in PCR can manufacture new DNA strands that are complementary to the provided template strand.
The growing need for PCR technology in a variety of settings, research, academics, hospitals, and other institutions. Additionally, the PCR technologies market is increasing as a result of rising R&D spending and increased awareness of genetic illnesses. The main drivers of rising demand for technologically sophisticated PCR tests over the projection period are the rising prevalence of genetic abnormalities and serious infectious diseases, expanding use of biomarker profiling for disease diagnostics, and the successful completion of the Human Genome Project. The need for digital PCR is expected to rise in the approaching years due to considerable technological advancements, rising investments, funding, and grants in various applications. In addition, growing developments in real-time digital PCR (dPCR), PCR (qPCR), and end-point PCR is also expected to boost the market growth over the forecast period.
Furthermore, this rise in R&D effort is being supported by increased investment and the support of funding by government is also fueling the market growth. Further, the significance of qPCR and dPCR technologies in genomics research is being emphasized by governments and federal bodies around the globe. However, the healthcare sector has been significantly impacted by the COVID-19 pandemic. Due to market growth that was exponential, the diagnostic sector was the most severely affected. Digital PCR and real-time PCR have attracted a lot of interest due to their usage in drug development and diagnostics. In order to detect COVID-19, industry providers are concentrating more on developing droplet digital PCR kits. Additionally, a lot of industry participants have developed fresh tools and tests for COVID-19 testing.
The Global PCR Technologies Market is segmented on the basis of Product, Application, End User, and Region.
The market is split into three categories based on Product: instrument, reagents, and software. The reagents segment dominates the market. Growing demand for early detection of disease is mainly contributing to segment growth.
The market is segmented into four categories based on application: genotyping, sequencing, gene expression, and diagnostics. The diagnostics segment dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to an increase in the demand for clinical and diagnostics needs.
The market is segmented into four categories based on end user: research, pharma-biotech, academia, and others. The research segment dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to an increase in the need for clinical research especially amidst COVID-19 pandemic.
The worldwide market for PCR Technologies is highly fragmented which comprised of large and small-sized market players with few large dominating the global market share. The companies in market emphasize on adopting aggressive strategies to reach out large consumer base. Some of the primary techniques used by corporations to strengthen their reach and expand their market share include new product launches, partnerships, distribution network development, R&D spending, and mergers and acquisitions.
For instance, F. Hoffmann-La Roche Ltd has expanded the COVID PCR tests in countries accepting the CE market in February 2022.
The scope of this report covers the market by its major segments, which include as follows: