Polymerase Chain Reaction Market Rising Demand for Reagents and Consumables

According to Precision Business Insights (PBI) latest report, the polymerase chain reaction market is expected to be worth USD 36,090.3 million in 2022, growing at a 5.3% CAGR from 2022 to 2028. Global Polymerase Chain Reaction Market by Product (Instruments, Reagents and Consumables, and Software), Application (Clinical Diagnostics, Life Science Research, Industrial Applications, and Others), End User (Academic Institutes, Clinical Diagnostics Labs, and Hospitals, Pharmaceutical and Biotechnology Industries, and Others) and Geography Forecast to 2028.

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Reagents and Consumables Dominate the Polymerase Chain Reaction Market:
Based on its product, it is segmented into Instruments, Reagents and Consumables, and Software. Reagents and Consumables accounted for 43.7% of the market and are expected to grow at a CAGR of 5.6% between 2022 and 2028. Increase in demand for disease diagnosis in the market

Asia Pacific Leads Polymerase Chain Reaction Market:
The Asia Pacific holds a market share of 31.7% in the Polymerase Chain Reaction market in the forecast period, and it is projected to grow at a CAGR of 5.2% in the coming years. The region's Polymerase Chain Reaction market is being boosted by increasing demand for PCR kits to detect COVID-19 tests.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Polymerase Chain Reaction market further reveals that the key players increasingly adopting strategies such as the launch of newer products, frequent product approvals, and long-term alliances to improve market revenue share and gaining significant geographic presence across the region. For instance, The FDA approved the diagnostic panel CDC 2019-Novel Coronavirus in June 2020 to detect the novel coronavirus.

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Key player's profiles in the report are Abbott, Qiagen, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., bioMérieux SA, F. Hoffmann-La Roche Ltd, Agilent Technologies, Inc., Fluidigm Corporation, Cytiva, Stilla Technologies, Microsynth AG, JN Medsys, and Danaher Corporation.

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