Polymerase Chain Reaction Technologies Market Overview:
Global Polymerase Chain Reaction Technologies Market was valued at $7,027 million in 2016, and is estimated to reach $10,776 million by 2023, registering a CAGR of 6.2% from 2017 to 2023. Polymerase chain reaction technologies are medical devices used to generate thousands to millions of copies of a piece of deoxyribonucleic acid (DNA). These devices are commonly used in various life science fields such as genetics, molecular biology research, biotechnology, drug discovery, and clinical diagnostics. Moreover, these technologies are also used to identify criminals and child identity in forensics department. The device can also be used in the diagnosis of disease such as middle ear infections, tuberculosis, AIDS, and Lyme diseases. In academic field, polymerase chain reaction technologies are also used to identify cultures of microorganism that cause diseases.
Increase in the geriatric population, high prevalence of infectious diseases, rise in number of diagnostic centers and hospitals, technological advancements, and increase in awareness and acceptance of personalized medicine drives the polymerase chain reaction technologies market size. However, growth of non-validated home-brew test and reimbursement issues restraint the market growth. In addition, accurate and timely results for RT-PCR is a major challenge faced by the polymerase chain reaction technologies industry. Reduction in number of PCR processes makes the process less tedious and may open avenues of opportunities for the PCR market. Moreover, increase in funding for R&D activities and presence of untapped market in developing regions are expected to provide new avenues for the growth of polymerase chain reaction technologies market size in the near future.
Technology Segment Review
In terms of technology, polymerase chain reaction technologies market is segmented into real-time PCR, traditional PCR, and digital PCR. Real-time PCR accounted for the highest revenue in 2016, and is projected to maintain the trend throughout the forecast period. However, digital PCR is anticipated to be the fastest growing segment in the polymerase chain reaction technologies market during the forecast period.
Product Segment Review
Based on product, polymerase chain reaction technologies market is classified into reagents & consumables, instruments, software, and services. Reagents & consumables accounted for the highest polymerase chain reaction technologies market share in 2016, and is projected to maintain the trend throughout the forecast period. However, software segment is expected to be the fastest growing segment in the polymerase chain reaction technologies market during the forecast period.
Global Polymerase Chain Reaction Technologies Market: Key geographic segment
The polymerase chain reaction technologies market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest polymerase chain reaction technologies market share in 2016, and is expected to retain its dominance throughout the forecast period. However, Asia-Pacific is expected to be the fastest growing segment that will contribute towards the growth of polymerase chain reaction technologies market.
Key players operating in the polymerase chain reaction technologies market are Thermo Fisher Scientific Inc., Sygnis AG, LGC Ltd, Bio-Rad Laboratories Inc., Agilent Technologies, Inc., BioMerieux S.A., RainDance Technologies, Inc., Affymetrix Inc., Fluidigm Corporation, and Takara Bio Inc.
Other prominent players in the value chain that operate in the polymerase chain reaction technologies market include Beckman Coulter, Becton, Dickinson and Company, Cepheid, Clontech Laboratories, Eppendorf, Fluidigm, GE Healthcare, Kapa Biosystems, Maxim Biotech, PerkinElmer, Promega, and Siemens Healthcare.
Key Benefits for Stakeholders
- This report entails a detailed quantitative analysis of the current market trends from 2016 to 2023 to identify the prevailing opportunities.
- Market estimations are based on comprehensive analysis of the key developments in the industry.
- The global market is comprehensively analyzed with respect to technology, product, end user, application, and geography.
- In-depth analysis based on geography assists in understanding the regional market to assist in strategic business planning.
- The development strategies adopted by key manufacturers are enlisted to understand the competitive scenario of the market.
Polymerase Chain Reaction Technologies Market Key Segments:
- Real-time PCR
- Traditional PCR
- Digital PCR
- Reagents & Consumables
By End Users
- Diagnostic Centers & Hospitals
- Biotech & Pharma Companies
- Academic & Research Institutions
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Saudi Arabia
- Rest of LAMEA