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Thermal Cycler Market to Witness a Pronounce Growth by 2025
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The global thermal cycler market is expected to expand at a high CAGR during the forecast period. Improvement in the field of molecular biology, adoption of PCR testing for diagnosis due to its accuracy and convenience, and increase in research activities in academics and pharmaceutical industries are factors which are likely to drive the growth of the global thermal cycler market during the forecast period. Additionally, government funding in biotechnological research, development of next generation sequencing, robust research in the field of genetics, improvement in forensics, introduction of heat resistance polymerase enzymes, and advanced technologies such as hot start PCR and qPCR which give highly accurate results are few other drivers projected to boost the growth of the global market. However, high cost of the instruments, lack of handling knowledge, and low awareness in some of the developing countries are factors that might restrain the growth of the global thermal cycler market during the forecast period.
The global thermal cycler market is segmented on the basis of product type, application, end-user, and region. In terms of product type, the global market is segmented into instruments and accessories. The instruments segment is further divided into conventional thermal cycler, real-time thermal cycler, multi-block thermal cycler, and digital thermal cycler. The digital thermal cycler sub-segment is anticipated to hold a significant share of the global market due to its technological advancements over the conventional thermal cycler. In terms of application, the global market is divided into diagnostics, manufacturing and quality control testing, clinical research, forensics, and others. The manufacturing and quality control testing segment is projected to account for a significant market share during the forecast period due to faster results with greater accuracy and higher sensitivity. Based on end-user, the global market is divided into pharmaceutical industries, academic and research institutes, diagnostic laboratories, and others. The pharmaceutical industries segment is expected to register a significant share of the market during the forecast period due to rise in the number of industries.
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Geographically, the global thermal cycler market is divided into North America, Latin America, Middle East & Africa, Europe, and Asia Pacific. North America is anticipated to dominate the global market during the forecast period in terms of value as well as volume. Factors responsible for the growth of the North America market are developed health care infrastructure, increase in the number of industries, high adoption of PCR machines, rise in health care expenditure, and high expertise and research activities. Asia Pacific is expected to expand at a high growth rate during the forecast period due to factors such as adoption of new technology, increased research activities in fields of genetics and forensics, and rise in funding for research activities.
Key players are adopting strategies such as development of user-friendly and cost-effective products, mergers and acquisitions, robust research and development, and geographical expansion to maintain a significant position in the global thermal cycler market. Prominent players operating in the global market are Agilent Technologies, Inc, Thermo Fisher Scientific Inc, Bio-Rad Laboratories, Inc, Eppendorf AG, and Bioline.
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