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Polymerase Chain Reaction (PCR) Technologies Market Size, Top key Players, Emerging Trends And Production Analysis Report By 2033
Polymerase Chain Reaction (PCR) Technologies Market Size
According to The Business Research Company's, The PCR technologies market size has grown rapidly in recent years. It will grow from $13.03 billion in 2023 to $14.58 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to the increased number of genome-based drug development activities, growth in the prevalence of genetic disorders and target diseases, increased use of miniaturized portable instruments, growth in use of biomarker profiling, and growth in demand for personalized medicine.
The PCR technologies market size is expected to see rapid growth in the next few years. It will grow to $23.02 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The growth in the forecast period can be attributed to a rise in demand for rapid and accurate diagnosis of disease, growing demand for forensics, growing adoption of real-time polymerase chain reaction, the growing demand for rapid and on-site diagnostic testing, rise in infectious disease outbreaks, and demand for companion diagnostics. Major trends in the forecast period include next-generation sequencing (NGS) integration, RNA detection and analysis, single-cell PCR analysis, bioinformatics software and data analysis tools, microfluidic technologies, lab-on-a-chip systems, and point-of-care testing (POCT), artificial intelligence (AI) and data analytics.
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Market Drivers and Trends:
An increasing prevalence of infectious diseases is expected to propel the growth of the PCR technologies market going forward. Infectious diseases refer to illnesses caused by pathogenic microorganisms such as bacteria, viruses, parasites, or fungi that can spread directly or indirectly from one person to another. The increasing prevalence of infectious diseases highlights the growing challenges posed by pathogens, potentially due to factors such as globalization, urbanization, antimicrobial resistance, and environmental changes. PCR technologies mitigate the prevalence of infectious diseases by detecting and amplifying specific genetic material of pathogens, aiding in their identification and diagnosis with high sensitivity and accuracy. For instance, in November 2023, according to the World Health Organization (WHO), a Switzerland-based specialized agency of the United Nations responsible for international public health, 10.6 million cases of tuberculosis (TB) are predicted to occur globally in 2022, affecting 5.8 million men, 3.5 million women, and 1.3 million children. Therefore, the increasing prevalence of infectious diseases is driving the PCR technologies market.
Major companies operating in the PCR technologies market are focused on developing advanced technological solutions, such as next-gen quantitative polymerase chain reaction (qPCR) technologies, to improve accuracy, sensitivity, and efficiency in molecular diagnostics. Quantitative polymerase chain reaction (qPCR) technology quantifies specific DNA sequences in samples, offering real-time monitoring and amplification, rendering it invaluable across scientific and medical disciplines. For instance, in November 2023, F. Hoffmann-La Roche AG, a Switzerland-based biotechnology company, launched the LightCycler PRO System, a next-generation qPCR (quantitative polymerase chain reaction) system designed to advance clinical needs in molecular diagnostics and address public health challenges. This system is intended to be the most advanced qPCR technology for both clinical diagnostics and research, offering improved performance and usability while bridging the gap between translational research and in vitro diagnostics. It harness gold-standard technology, ensuring quality, precision, and reliability essential for precise patient diagnosis and informed clinical decisions.
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Major Key Players of the Market:
F. Hoffmann-La Roche Ltd., Bayer Corporation, Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers AG, Becton, Dickinson and Company (BD), GE Healthcare Technologies LLC, Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Eurofins Scientific SE, Agilent Technologies Inc., Illumina Inc., PerkinElmer Inc., bioMérieux SA, Beckman Coulter Inc., Sysmex Corporation, Bio-Rad Laboratories Inc., QIAGEN N.V., Natera Inc., BGI Genomics Co. Ltd., Cepheid, NeoGenomics Laboratories Inc., Ambry Genetics Corporation, Veritas Genetics Inc.
Polymerase Chain Reaction (PCR) Technologies Market 2024 Key Insights:
• The PCR technologies market size is expected to see rapid growth in the next few years. It will grow to $23.02 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%.
• Impact Of Increasing Infectious Diseases On The PCR Technologies Market
• Technological Advancements In Polymerase Chain Reaction (PCR) Technologies
• North America was the largest region in the PCR technologies market in 2023
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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