PCR Technologies Market: Current Analysis and Forecast 2021-2027

Global PCR Technologies Market was valued at US$ 7.8 billion in 2020 and is anticipated to reach US$ 12.8 billion by 2027 displaying an elevated CAGR of 6.2% over the forecast period (2021-2027). PCR stands for polymerase chain reaction that is a molecular diagnostic technique that detects genetic material from a specific organism such as a virus. PCR technology is used to generate millions of copies of a piece of DNA. These techniques are commonly used in various life science fields such as genetics, molecular biology research, and clinical diagnostics.
The PCR technologies market is growing exponentially on account of rapid advancements in PCR technology and rising incidences of various chronic and infectious diseases. For instance, the most common infectious diseases are respiratory infections and tuberculosis which are 43% prevalent of all the infectious diseases. Also, another most common infectious disease around the world is HIV/AIDS, in 2019, 38 million people were affected by the disease. Furthermore, increasing adoption of PCR in various non-medical applications such as food safety, water contamination and for detection of the various pathogen in environmental samples are also expected to drive the market growth globally.
Another significant reason contributing towards the growth of the market is the growing focus on gene-based research and the launch of new and innovative technologies by key industry leaders to strengthen their portfolios. For instance, in July 2021, PathStore, a France-based multinational company launched the covid-19 RT-PCR test priced at ?299, the lowest so far among the private sector diagnostic industry. Furthermore, due to Covid-19, testing and prevention of infectious diseases has also witnessed a boom and thus the growth in the PCR technologies market. For example, as many as 1.8 million covid tests were performed in a single day in India alone. This sudden ramp-up in facilities is going to last even after covid, making it easier to get tests for infectious diseases as well.
Thermo Fisher Scientific, QIAGEN, Agilent Technologies, Bio-Rad Laboratories, F. Hoffmann-La Roche, Takara Bio, Inc., Merck KGaA, BioMerieux SA, Siemens Healthineers, Abbott Laboratories are some of the prominent players operating in the global PCR technologies market. Several M&A's along with partnerships have been undertaken by these players to by these players to develop new and advanced PCR technologies.
Insights Presented in the Report
"Amongst product, reagents & consumables segment holds the major share"
Based on product, the market is fragmented into reagents & consumables, instruments, and software. The reagents & consumables segment generated considerable revenue in 2020. Owing to the rising number of PCR testing procedures and launch of new and advanced consumables. However, the software segment is expected to grow at the highest CAGR during the projected timeframe. The growth of this segment is attributed to the growing adoption of PCR-based diagnostics and need for better data management software for storing a huge amount of generated data.
"Amongst technology, real-time PCR dominated the market in 2020"
Based on technology, the market is fragmented into real-time PCR, traditional PCR, and digital PCR. The real-time PCR segment held prominent market share in 2020.. This segment is expected to grow as Real-time PCR has become one of the most widely used methods of gene quantitation owing to its large dynamic range, boosted tremendous sensitivity, highly sequence-specific, has little to no post-amplification processing, and is amenable to increasing sample throughput. However, the digital PCR segment is expected to grow at the highest CAGR during the forecast period.
"Amongst application, clinical diagnostics is anticipated to grow at the highest CAGR during the analyzed period"
Based on application, the market is fragmented into clinical diagnostics, research, and forensic. The clinical diagnostics segment generated significant revenue share in 2020. Owing to the rising incidences of various infectious and chronic disease coupled with the rapid incorporation of PCR techniques in clinical diagnostics globally. Also, the clinical applications of PCR technologies are vast and offer opportunities to improve healthcare across the breadth of medical specialties. For instance, PCR technologies can be used by clinicians from all specialties to diagnose their patients who have high-risk genetic errors causing disease. Researchers are using these techniques to identify new genes which cause genetic disease at an astonishing rate as over 4000 diseases now have a known single genetic cause, compared to around 50 in 1990. However, the research segment is expected to grow at the highest CAGR between 2021-2027F as many researchers are focusing on identifying & monitoring different biomarkers that can be later used for developing efficient personalized medicine.
Amongst end-users, diagnostics labs & hospitals segment holds the major share"
Based on end-users, the market is fragmented into pharma & biotechnology companies, diagnostic labs & hospitals, academic & government research institutes, and others. The diagnostic labs & hospitals segment held considerable market share in 2020. Owing to the growing number of diagnostic labs & medical labs across the world. For instance, As of 2021, there are 29,227 Diagnostics and Medical Laboratories in the United States which is a 2% increase since 2020. Also, the growth is diagnostics centers all over the world is due to the emergence of the coronavirus pandemic, but in the long run this will help in boost the diagnostics for various infectious and genetic diseases.
"North America signifies one of the largest markets of PCR Technologies Market"
For a better understanding of the market dynamics of the PCR Technologies market, a detailed analysis was conducted for different regions across the globe including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), Rest of World has been conducted. North America dominated the market in 2020 owing to the increasing cancer incidence and presence of well-established players in the region.
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- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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PCR stands for polymerase chain reaction that is a molecular diagnostic technique that detects genetic material from a specific organism such as a virus. PCR technology is used to generate millions of copies of a piece of DNA. These techniques are commonly used in various life science fields such as genetics, molecular biology research, and clinical diagnostics.
The PCR technologies market is growing exponentially on account of rapid advancements in PCR technology and rising incidences of various chronic and infectious diseases. For instance, the most common infectious diseases are respiratory infections and tuberculosis which are 43% prevalent of all the infectious diseases. Also, another most common infectious disease around the world is HIV/AIDS, in 2019, 38 million people were affected by the disease. Furthermore, increasing adoption of PCR in various non-medical applications such as food safety, water contamination and for detection of the various pathogen in environmental samples are also expected to drive the market growth globally.
Another significant reason contributing towards the growth of the market is the growing focus on gene-based research and the launch of new and innovative technologies by key industry leaders to strengthen their portfolios. For instance, in July 2021, PathStore, a France-based multinational company launched the covid-19 RT-PCR test priced at ?299, the lowest so far among the private sector diagnostic industry. Furthermore, due to Covid-19, testing and prevention of infectious diseases has also witnessed a boom and thus the growth in the PCR technologies market. For example, as many as 1.8 million covid tests were performed in a single day in India alone. This sudden ramp-up in facilities is going to last even after covid, making it easier to get tests for infectious diseases as well.
Based on product/services, the market is fragmented into reagents & consumables, instruments, and software. The consumables segment generated revenue of USD XX million in 2020. The market is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027F owing to the increasing demand for the reagents and other consumables used for the preparation of a sample for PCR. However, the software segment is expected to grow at the highest CAGR during the projected timeframe.
Based on technology, the market is bifurcated into real-time PCR, traditional PCR, and digital PCR. The real-time PCR segment generated revenue of USD XX million in 2020. The market is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027F. However, the digital PCR segment is expected to grow at the highest CAGR during the forecast period.
Based on the application, the market is fragmented into clinical diagnostics, research, and forensic. The clinical diagnostics segment dominated the market and generated revenue of USD XX million in 2020. However, the research segment is anticipated to grow at considerable CAGR during the forecast period and reach USD XX million by 2027F
The PCR Technologies research and development and utilization are available at various centers including pharma & biotechnology companies, diagnostic labs & hospitals, academic & government research institutes, and others. The diagnostic labs & hospitals segment is anticipated to dominate the market during the analyzed period and reach USD XX million by 2027F owing to the growing number of diagnostics and medical labs all over the globe.
For a better understanding of the market adoption of the PCR technologies market, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of APAC), and Rest of World. North America constitutes a major market for the PCR Technologies industry and generated revenue of USD XX million in 2020 owing to the increasing incidence of cancer and other diseases, rising healthcare spending, and increasing government initiatives in the region.
Some of the major players operating in the market include Thermo Fisher Scientific, QIAGEN, Agilent Technologies, Bio-Rad Laboratories, F. Hoffmann-La Roche, Takara Bio, Inc., Merck KGaA, BioMerieux SA, Siemens Healthineers, Abbott Laboratories, etc. Several M&A's along with partnerships have been undertaken by these players to develop new and advanced PCR technologies.