Polymerase Chain Reaction (PCR) Sales to Surpass US$ 12 Bn through 2031 as Adoption of Real-Time PCR Surges amid COVID-19

Fact.MRs latest study discusses factors affecting the polymerase chain reaction (PCR) market growth. It provides in-depth analysis of various market segments, including product and end user across seven major regions. The report further profiles leading PCR manufacturers and examines the effect of their growth strategies on the global market.

Fact.MR A Market Research and Competitive Intelligence Provider: According to the latest Fact.MR analysis, the global polymerase chain reaction (PCR) market will reach US$ 3.6 Bn by the end of 2021. Owing to the surging demand for PCR products, the overall market is projected to register growth at 10% CAGR between 2021 and 2031.

Sales in the PCR market are expected to increase with rising prevalence of target diseases and genetic disorders. Also, factors such as growing popularity of portable PCR testing kits, advancements in PCR technology, and increasing government funding for research activities will facilitate the growth in the market.

PCR has emerged as an ideal technique for the amplification of DNA sequences. It is a simple and cost-effective technique which produces results rapidly. It is an extensively used technique in medical laboratory research for a wide range of applications including biomedical research and criminal forensics.

The unprecedented outbreak of COVID-19 had a positive impact on the PCR market. It created huge demand for reliable and rapid detection techniques such as RT-PCR. Various companies also launched novel PCR test kits for the detection of virus.

Also, RT-PCR emerged as an ideal technique for detection of COVID-19 virus. It is significantly faster and has lower risk of contamination or errors.

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As per Fact.MR analysis, PCR reagents will account for around 60% of total PCR market revenue by 2031. Rising demand for diagnostic tests and launch of new reagents specific to the test type are some key factors accelerating the demand for reagents used in polymerase chain reaction. Furthermore, RT PCR systems market to witness significant growth.

Regionally, North America will continue to dominate the PCR market, owing to the presence of a well-established healthcare infrastructure, continuous advances in clinical research, and high prevalence of genetic disorders such as Klinefelter's syndrome and Down syndrome. The region is poised to expand at a healthy growth rate of 7.5% annually.

However, Asia is projected to register the fastest growth on the back of increasing penetration of PCR products, rising government support, high prevalence of chronic diseases, and expanding healthcare infrastructure.

As the demand for PCR continues to rise, leading manufacturers are moving towards developing portable micro-scale devices. They also are introducing advanced PCR instruments, reagents and consumable that will allow quick nucleic acid amplification. This is expected to create growth opportunities for the market, says a Fact.MR analyst

Key Takeaways from Polymerase Chain Reaction Market Survey

Key Drivers

Key Restraints

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Competitive Landscape

Key players operating in the polymerase chain reaction market are embracing advanced technologies for the development of new products. They have adopted various strategies such as mergers, partnerships, collaborations and manufacturing of advanced portable PCR products to increase their sales.

Some of the prominent players operating in the polymerase chain reaction market profiled by Fact.MR are:

More Insights on the Global Polymerase Chain Reaction Sales Outlook

Fact.MR provides an incisive coverage on global polymerase chain reaction market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for polymerase chain reaction with a detailed segmentation on the basis of:

Key Questions Covered in the Polymerase Chain Reaction Market Outlook Report

Explore Fact.MRs Coverage on the Healthcare Domain

Rapid Medical Diagnostic Kits Market- Infectious disease incidence has been steadily increasing over the last few decades, driving up demand for rapid medical diagnostic kits around the world. The need to detect novel pathogens that cause diseases is propelling the market forward. The low cost of rapid medical diagnostic kits is propelling market growth. Blood glucose testing is in high demand, and it has been growing at the quickest rate of all types of tests across all geographies. Technology advancements and strategic alliances by key market players have paved the way for rapid medical diagnostic kit innovations.

COVID-19 Saliva-based Detection Kits- COVID-19 detection treatments are likely to be in high demand due to the availability of COVID-19 virus variants and the continued danger of infection. Manufacturers are focusing on delivering cost-effective and convenient testing solutions as COVID-19 diagnostics become more widely employed. While vaccination initiatives have reduced the incidence rate in some nations, the virus continues to represent a serious concern and has a high occurrence rate due to mutant forms. Future viral mutant strains, as well as increased knowledge of COVID-19 testing, are predicted to maintain market growth.

PCR and Real-time PCR Molecular Diagnostics Market - The COVID-19 pandemic has boosted prospects for the growth of the PCR and real-time PCR molecular diagnostics market. Real-time (qPCR) and digital (dPCR) PCR tests have been used in a variety of healthcare settings to detect and diagnose potential cases. Because of its high sensitivity, healthcare providers have embraced PCR tests on a large scale. As a result of such trends, the global PCR and real-time PCR molecular diagnostics market is poised to soar to new heights, surpassing a significant revenue threshold in the coming decade.

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Polymerase Chain Reaction (PCR) Market to Expand by 3.3x as Application in Pharmaceutical & Biotechnology Industry Grows - BioSpace