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PCR Technology Market to Reach USD 9.8 billion by 2025 – Growing Adoption of PCR Techniques in Research Industry

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PCR Technology Market to Reach USD 9.8 billion by 2025 – Growing Adoption of PCR Techniques in Research Industry

June 02
21:12 2021
PCR Technology Market to Reach USD 9.8 billion by 2025 - Growing Adoption of PCR Techniques in Research Industry

PCR technologies market is dominated by Thermo Fisher Scientific, Inc. (US), F. Hoffman-La Roche Ltd. (Switzerland), Bio-Rad Laboratories, Inc. (US), QIAGEN N.V. (Germany), and Takara Bio, Inc. (Japan). Other prominent players in the market include Agilent Technologies, Inc. (US), bioMérieux S.A. (France), Fluidigm Corporation (US).
PCR Technology Market Industry Segments, Opportunities, Growth, Size and Key Players Analysis.

The study involved four major activities in estimating the current size of the PCR technology market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the size of the segments and subsegments.

Expected Revenue Growth:

[193 Pages Report] The global PCR technology market is projected to reach USD 9.8 billion by 2025 from USD 7.2 billion in 2020, at a CAGR of 6.3% from 2020 to 2025.

COVID-19 Impact on PCR technology market:

The PCR technology market, amid the COVID-19 pandemic, experienced positive growth in terms of COVID-19 testing due to the positioning of PCR as the gold standard for genomic sequencing/identification (and hence is the preferred choice for screening). This resulted in significant industry focus towards the early commercialization of PCR-based COVID-19 diagnostic tools. Around 100 major PCR-based COVID-19 screening products were commercialized worldwide till September 2020. However, since PCR is also a preferred technique for cancer screening, its demand in cancer screening applications reported a sharp decline in Q1 & Q2 2020, owing to restricted public movements and de-prioritization of non-essential medical services by respective governments worldwide.

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Major Market Dynamics:

1. Rising incidence of target infectious diseases and genetic disorders
2. Continuous advancements in PCR technologies
3. Increasing investments, funds, and grants
4. Increasing use of biomarker profiling for disease diagnostics
5. Successful completion of the human genome project
6. Growing market penetration in emerging countries
7. Shift from plant-derived to genome-based drug discovery

pcr-technologies-market

Key Players Mapped in Research Report:

1. Thermo Fisher Scientific, Inc. (US)
2. F. Hoffman-La Roche Ltd. (Switzerland)
3. Bio-Rad Laboratories, Inc. (US)
4. QIAGEN N.V. (Germany)
5. Takara Bio, Inc. (Japan)
6. Agilent Technologies, Inc. (US)
7. bioMérieux S.A. (France)
8. Fluidigm Corporation (US)
9. Danaher Corporation (US)
10. Abbott Laboratories (US)

The Geographical Regions Mapped in the Report are:

1. North America
2. Europe
3. Asia-Pacific
4. Rest of the World (RoW)

North America is expected to account for the largest share in the global PCR technology market in 2020. However, healthcare infrastructure modernization, increasing penetration of cutting-edge diagnostic technologies (including PCR technologies) for research and clinical applications, growing awareness among physicians and healthcare professionals about the benefits of gene-based disease diagnosis and treatment, and the increasing public-private support to develop novel PCR technologies in Asia Pacific countries have accounted for a particularly high growth rate in this region.

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PCR technology market Segmentation:

dPCR technique to show the highest growth in the PCR technologies market during the forecast period

The dPCR segment is expected to grow at the highest CAGR in the PCR technology market. This is due to ongoing technological developments, growing adoption of dPCR products among key end users (compared with qPCR and other PCR products) across mature markets, continued expansion in the distribution networks of major product manufacturers, and growing private funding for developing and commercializing innovative dPCR instruments. Furthermore, dPCR has many potential applications, including the detection and quantification of low-level pathogens, rare genetic sequences, copy number variations (CNVs), and relative gene expression in single cells are also key factors fuelling the demand growth of dPCR instruments among end users.

Recent Developments:

In 2020, Roche (Switzerland) announced FDA 510(k) clearance for the cobas BKV Test on the cobas 6800 and 8800 Systems

In 2020, Roche (Switzerland)  that the cobas SARS-CoV-2 & Influenza A/B Test received emergency use authorization for use on the cobas 6800/8800 Systems from the FDA

In 2020, Roche (Switzerland) acquired Stratos Genomics (US), an early-stage sequencing technology company, to advance the development of Roche’s nanopore sequencer

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