According to a new report published by Allied Market Research, titled, Polymerase Chain Reaction Market by Technology, Products, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the polymerase chain reaction market accounted for $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. North America is the highest contributor in the polymerase chain reaction market; however, Asia-Pacific is expected to witness the highest growth rate.
Access Full Summary at: https://www.alliedmarketresearch.com/polymerase-chain-reaction-market
PCR techniques have the most potential features such as absolute detection and quantification of genetic materials such as DNA and RNA that are increasingly being used in life sciences research and molecular diagnostics. The device can be used quantify and analyze rare alleles and point mutations. Advanced PCR systems are being developed with enhanced capabilities such as broad menu of tests, higher sensitivity, and specificity. Other major advances related with the PCR are shorter PCR cycling time, higher productivity, and automated workflow.
The advancement in the technology of qPCR and dPCR leading to automation, improved accuracy, and enhanced sensitivity majorly drive the market growth. These products provide high level of efficiency and productivity in research and drug discovery and reduce the time required for the novel drug development. In addition, there is increased demand for polymerase chain reaction technologies owing to increase in number of hospitals and research centers. Furthermore, the increase in number of patients suffering from infectious diseases and rise in funding in gene therapy and human genome projects will also help to fuel the growth of the global polymerase chain reaction technologies market. Moreover, there is growth in demand for polymerase chain reaction technologies in the field of life science, clinical diagnostics, and others, which would further drive the market. However, growth of non-validated home brew test and unstable reimbursement policies are projected to hinder the growth of global polymerase chain reaction technologies market.
The real-time PCR segment is the major contributor towards the global PCR market in 2016, due to several factors including increase in use of qPCR in research and medical diagnostics, technological advancements, growing use of robotics for lab automation, and expansion of installation base.
Among the end-users, academic & research institutions occupied the major share of PCR instrument market due to increased test volume of infectious diseases and various types of cancers.
In 2016, North America accounted for maximum contribution to the total revenue generated, owing to the rise in prevalence of infectious diseases and cancer in this region and technological advancement in PCR. However, Asia is projected to grow at the highest CAGR during the forecast period. Opportunities in the Asian market have attracted huge investments by major companies in the area of R&D activities.
Key players operating in the 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 include Beckman Coulter, Becton, Dickinson and Company, Cepheid, Clontech Laboratories, Eppendorf, Fluidigm, GE Healthcare, Kapa Biosystems, Maxim Biotech, PerkinElmer, Promega, and Siemens Healthcare.
First time buyer? Click here..
Get fresh content delivered weekly
Get insights on topics that matter to your business. Stay updated on the areas that interest you.