Yahoo Finance PCR Technologies Market worth $9.8 billion by 2025 - Exclusive Report by MarketsandMarkets™
Chicago, Sept. 27, 2022 (GLOBE NEWSWIRE) -- PCR Technologies Market is projected to reach USD 9.8 billion by 2025 from USD 7.2 billion in 2020, at a CAGR of 6.3%, according to a new report by MarketsandMarkets™. The growth of the market is primarily driven by the rising incidences of target infectious diseases and genetic disorders, increasing financial support for research, and the increasing use of biomarker profiling in disease diagnostics. Companies in the PCR technologies market are focusing on novel product development (including lab-on-chip devices, miniaturized devices, and microfluidics-based instruments) to cater to the growing end-user demand for technologically advanced PCR technologies products.
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The qPCR segment is expected to command the largest share of the PCR technologies market. Factors such as the expanding applications of qPCR (owing to its technological benefits over traditional PCR, such as real-time analysis and reduced analysis time), growing private-public funding for life sciences research, and the rising number of probe-based multiplex genetic analysis procedures (that require the analysis of low-volume gene samples) are expected to drive the growth of the qPCR market.
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The reagents and consumables segment is expected to account for the largest share of the PCR technologies market in 2020. This is mainly due to the expanding applications of dPCR, the increasing number of dPCR-based analytical procedures among institutional researchers (such as CROs and pharma - biotech companies), and the rising availability of novel dPCR reagents worldwide. Additionally, the expansion of the application base of the dPCR technology in genetic/molecular research, clinical diagnosis, and forensics is expected to result in the commercialization of novel dPCR reagents.
The hospitals and diagnostic labs segment is expected to dominate the PCR technologies market in 2020. The large share of this segment is attributed to the increasing market availability of qPCR reagents, expansion of healthcare infrastructure across emerging countries, high prevalence and incidence of target diseases, and the growing awareness among end users related to the benefits offered by qPCR in rapid & effective disease diagnosis.
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Geographical Growth Scenario:
North America accounted for the largest share of the PCR technologies market in 2020, followed by Europe. The large share of North American market is mainly due to the rising number of genome-based drug development activities undertaken by US-based pharmaceutical and biotechnology companies, increasing support for the development of PCR technologies, a growing target patient base, and the focus on early and effective disease diagnosis.
Key Players:
The major players operating in the PCR technologies market are Thermo Fisher Scientific, Inc. (US), F. Hoffman-La Roche Ltd. (Switzerland), Bio-Rad Laboratories, Inc. (US), QIAGEN N.V. (Germany), Takara Bio, Inc. (Japan), Agilent Technologies, Inc. (US), bioMérieux S.A. (France), Fluidigm Corporation (US), Danaher Corporation (US), Abbott Laboratories (US), Merck KGaA (Germany), Becton Dickinson and Company (US), Promega Corporation (US), Eppendorf AG (Germany), and Analytik Jena AG (Germany).
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