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Polymerase Chain Reaction (PCR) Market Key Trends And Competitor Assessment 2024-2033
Polymerase Chain Reaction (PCR) Market Size
As per the report, the polymerase chain reaction (PCR) market size has grown rapidly in recent years. It will grow from $10.33 billion in 2023 to $11.42 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The polymerase chain reaction (PCR) market size is expected to see rapid growth in the next few years. It will grow to $17.17 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%.
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Impact Of Personalized Medicine On The Polymerase Chain Reaction Market
The rising demand for personalized medicine is expected to fuel the growth of the polymerase chain reaction (PCR) market going forward. Personalized medicine, also known as precision medicine, refers to a medical approach that tailors healthcare decisions, practices, interventions, and treatments to individual characteristics of each patient. The demand for personalized medicine is increasing due to advancements in data analytics, patient-specific treatment responses, and the ability to tailor therapies based on individual genetic profiles. Polymerase Chain Reaction (PCR) helps personalized medicine by enabling the amplification and analysis of specific genetic sequences, allowing clinicians to tailor treatment plans based on individual genetic profiles. For instance, according to Personalized Medicine Coalition, a US-based professional membership organization, in 2022, approving 12 new personalized medicines represented approximately 34% of all newly approved therapies, indicating a substantial increase from previous years. Therefore, the rising demand for personalized medicine is driving the growth of the polymerase chain reaction market.
Technological Advancements In Polymerase Chain Reaction
Major companies operating in the polymerase chain reaction market are developing real-time polymerase chain reactions test kit to improve accuracy, efficiency, and ease of use in genetic analysis. Real-time polymerase chain reaction (RT-PCR) is a laboratory developed test kit used to amplify and quantify specific DNA sequences in real time. For instance, in November 2022, Cepheid, a US-based molecular diagnostics company, launched Xpert Xpress Multiplex Vaginal Panel (MVP), an FDA-cleared multiplex PCR test that can detect DNA from organisms associated with three distinct vaginal infections - bacterial vaginosis (BV), vulvovaginal candidiasis, and trichomoniasis from a single vaginal swab sample. It enhances the capabilities of traditional polymerase chain reaction methods by providing real-time monitoring, quantification, and increased sensitivity and specificity, making it an indispensable tool in molecular biology and clinical diagnostics.
The polymerase chain reaction (PCR) market covered in this report is segmented -
1) By Type: Conventional Polymerase Chain Reaction, Other Types
2) By Indication: Infectious Diseases, Oncology, Genetic Disorders, Other Indications
3) By Application: Medical, Non-Medical
4) By End User: Hospitals And Clinics, Pharmaceutical And Biotechnology Industries, Diagnostic Centers, Academic And Research Organization
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Major companies operating in the polymerase chain reaction (PCR) market are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers GmbH, Becton, Dickinson and Company, GE HealthCare Technologies Inc, Laboratory Corporation of America Holdings (LabCorp), Quest Diagnostics Incorporated, Eurofins Scientific, Agilent Technologies Inc., Illumina Inc., PerkinElmer Inc., bioMérieux SA, Beckman Coulter Inc, Sysmex Corporation, Bio-Rad Laboratories Inc., Qiagen N.V., Natera Inc., Myriad Genetics Inc., BGI Genomics Co. Ltd., Cepheid, NeoGenomics Laboratories Inc., 23andMe Holding Co., Ambry Genetics Corporation, Biocartis SA, Centogene N.V., Veritas Genetics
Contents of the report:
1. Executive Summary
2. Polymerase Chain Reaction (PCR) Market Report Structure
3. Polymerase Chain Reaction (PCR) Market Trends And Strategies
4. Polymerase Chain Reaction (PCR) Market - Macro Economic Scenario
5. Polymerase Chain Reaction (PCR) Market Size And Growth
…..
27. Polymerase Chain Reaction (PCR) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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