Polymerase Chain Reaction Market is likely to reach a Revenue of US$ 29.7 Bn by the end of 2032 With a projected CAGR of 1.6%

The Polymerase Chain Reaction (PCR) market is a rapidly growing industry that is revolutionizing the way we diagnose and treat diseases. PCR is a technique that amplifies a specific DNA sequence, allowing for the detection of pathogens and genetic mutations. This technology is used in a wide range of applications, including medical diagnostics, forensics, and research.

The Polymerase Chain Reaction market was valued at around US$ 24.4 Bn in 2021. With a projected CAGR of 1.6% for the next ten years, the market is likely to reach a valuation of US$ 29.7 Bn by the end of 2032. The recent surge in demand for RT-PCR Testing has triggered the demand for Polymerase Chain Reactions.

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One of the primary drivers of the PCR market is the increasing demand for accurate and timely diagnostic tools. PCR is a highly sensitive and specific method for detecting pathogens, making it an essential tool for diagnosing infectious diseases such as COVID-19. The technology is also used to identify genetic mutations that can contribute to the development of cancer and other diseases.

Companies

Abbott
Thermo Fisher Scientific Inc.
F. Hoffmann- La Roche Ltd.
Bio-Rad Laboratories Inc.
QIAGEN N.V.
bioMérieux SA
Standard BioTools Inc.
Sysmex Inostics
Eppendorf AG
Danaher Corporation
Cytiva
Stilla Technologies
Microsynth AG
MatMaCorp
JN Medsys
PCR Biosystems

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Another driver of the PCR market is the increasing use of personalized medicine. PCR is used to identify specific genetic mutations that can affect an individual's response to medication. This allows for the development of personalized treatment plans that are tailored to the individual's genetic profile.

Despite the growth in the PCR market, there are still challenges that need to be addressed. One of the primary challenges is the high cost of PCR equipment and reagents. Additionally, the process of performing PCR can be time-consuming, which can limit its use in high-volume diagnostic settings. However, advancements in technology and increased competition in the market are helping to address these challenges.

Some of the recent developments in the market include:

In July 2021, Stilla Technologies launched 6-Color Digital PCR Access Program. This program is apt for high multiplexing and detection abilities related to the study of cell & gene therapy, cancer, and other infectious diseases along with COVID-19 research. This is projected to further aid the company's product portfolio.
In May 2021, a one-of-a-kind handheld PCR device MYRTA entered the market. This device is developed by MatMaCorp to aid in real-time detection.
In April 2021, Reliance SARS-CoV-2 RT-PCR Assay was initiated by Bio-Rad Laboratories Inc. in Europe in order to clinically diagnose the Coronavirus.
In March 2021, QuantStudio 5 Dx RT-PCR System was launched by Thermo Fisher Scientific Inc. in order to aid in both laboratory use and assay development. It was aimed to assist in meeting the increasing requirement for PCR Systems around the world.
In March 2021, the launch of IsoFast Bst Polymerase Reagents, aiding the responsive, potent and swift augmentation of RNA and DNA, subsequently enabling the rapid testing processes, was announced by PCR Biosystems.
In January 2021, Mesa Biotech Inc., a company working in molecular diagnostics, was acquired by Thermo Fisher Scientific Inc., for US$ 450 Mn to aid with the expansion of its product portfolio.

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Key Segments Covered in Market Survey

By Type

Conventional PCR
Other Types

By Product Type

Consumables & Reagents
Instruments
Software & Services

By Application

Medical
Clinical
Research
Forensic and others
Non-Medical
Food
Other Non-Medicals

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This release was published on openPR.