Polymerase Chain Reaction Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Polymerase Chain Reaction Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview 2023-2028:

The global polymerase chain reaction market size reached US$ 7.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.9 Billion by 2028, exhibiting a growth rate (CAGR) of 7.3% during 2023-2028.

Polymerase chain reaction (PCR) refers to a molecular diagnostic technique that is used to make multiple copies of a segment of DNA. A PCR machine is used to manipulate the temperature of the sample in an automatic and pre-programmed procedure to generate millions of copies of DNA sequencing accurately. This technology identifies and cultures disease-causing microorganisms, which aid in the detection of tuberculosis, Acquired Immunodeficiency Syndrome (AIDS), infections and Lyme disease. Owing to this, it finds extensive applications across various life science-related fields, such as genetics, biotechnology, molecular biology, drug discovery and clinical diagnostics.

Global Polymerase Chain Reaction Market Trends and Drivers:
The increasing prevalence of various infectious diseases and genetic disorders is one of the key factors driving the growth of the market. The rising geriatric population across the globe, which is more prone to chronic medical ailments, is also driving the industry growth. The outbreak of the coronavirus disease (COVID-19) pandemic has further led to the widespread adoption of PCR technologies for accurate diagnosis and early detection of infections. PCR devices also aid in minimizing the risks of contamination and the chances of human errors in the entire process.

The increasing demand for personalized and precision medicines is also creating a positive outlook for the market. These medicines aim to provide tailor-made therapies, which are identified and developed using PCR technologies. Other factors, including the increasing application in clinical diagnostics, along with extensive research and development (R&D) activities in the field of biotechnology, are expected to drive the market further.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global polymerase chain reaction market report, along with forecasts at the global, regional and country levels from 2023-2028. Our report has categorized the market based on product and end user.

Breakup by Product:

Instruments
Standard PCR Systems
Digital PCR Systems
Real-time PCR Systems
Reagents and Consumables
Software and Services

Breakup by End User:

Academic and Research Institutes
Clinical Diagnostics Labs and Hospitals
Pharmaceutical and Biotechnology Companies
Others

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Agilent Technologies Inc., BD (Becton, Dickinson and Company), BioMérieux (Institut Mérieux SA), Bio-RAD Laboratories Inc., F. Hoffmann-La Roche AG, Fluidigm Corporation, Merck KGaA, Perkinelmer Inc., Promega Corporation, Takara Bio Inc. and Thermo Fisher Scientific Inc.

Key Questions Answered in This Report:
How has the global polymerase chain reaction market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global polymerase chain reaction market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global polymerase chain reaction market and who are the key players?
What is the degree of competition in the industry?