Press release
Polymerase Chain Reaction (PCR) Market to Witness Increase in Revenues US$9.6 bn by 2020
As per Transparency Market Research (TMR), the global market for polymerase chain reaction will be worth US$9.6 bn by 2020. The experts from this research company answers three questions in this blog post regarding the global PCR market:
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Q. What are the factors helping the growth of the global polymerase chain reaction (PCR) market?
The growing demand for advanced molecular diagnostics so as to enable the detection of critical diseases remains the key factor fueling the demand for PCR. As industry participants are actively investing and participating in research and development in the field of diagnostic techniques, the growth of the global polymerase chain reaction market is positive. The PCR market is also benefitting from both public and private funding and this has also given rise to research on genomics. Further, the demand for automated devices and the manufacturing of medicines that are customized is increasing in recent times and this shall also help with the growth of the global polymerase chain reaction market.
Q. Which geographical area is estimated to show promising growth in the global PCR market?
North America was among the first to implement and approve the PCR-based assays for the diagnosis of infectious diseases such as HIV. North America is also the current leading regional market for PCR. It is estimated that North America will continue to stay in its leading position through 2020. Europe is anticipated to be second in terms of leading regional market for PCR. As both regions are characterized by highly developed and technologically sophisticated diagnostic laboratories, these regions will exhibit promising growth for the polymerase chain reaction market. Also, the acceptance level of novel assay technologies in Europe and North America is high and this will push the growth of the market.
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As for the fastest growing regional segment, it is Asia Pacific which will come to the fore, driven by a high investment in R&D and support for research by governments and private investors. China is currently the second largest investor in R&D as per the World Bank data. The growing geriatric population in the region is also fueling research activities as this population-base is more vulnerable to cancer and other serious diseases.
Q. What are the recent developments by key players in the market?
Thermo Fisher Scientific, has made use of a direct PCR approach which delivers unparalleled convenience for DNA amplification. This approach allows polymerase chain reaction directly from samples that are unpurified. In applications such as animal genotyping and for that matter plant genotyping, this approach can achieve significant cost and time savings. Such developments by key players is anticipated to help the market to grow further.
About us:
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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