Image: The global PCR market is projected to surpass USD 7.4 billion by 2025 (Photo courtesy of iStock).
The global polymerase chain reaction market (PCR) was valued at USD 3.7 billion in 2017 and is projected to grow at a CAGR of 8.8% over the forecast period (2017 – 2025) to surpass USD 7.4 billion by 2025. The extensive applications of the PCR laboratory technique in various fields, rising prevalence and incidence of infectious and chronic diseases, and growing need to develop advanced PCR systems for the rapid and inexpensive quantitative detection of target samples are expected to be the key growth drivers of the PCR market during the forecast period.
These are the latest findings of Coherent Market Insights (Seattle, WA, USA), a market research and consulting firm.
Based on product type, reagents and consumables hold the largest share of the PCR market due to the need to run the sample and amplify the target DNA sequence in PCR instruments. Based on end-user, academic and research laboratories account for the largest market share, on account of the increasing need for PCR systems in advanced laboratory testing and research services.
The use of PCR is increasing in the clinical diagnosis of infectious disease, nucleic acid amplification, paternity testing, DNA fingerprinting, detection and diagnosis of infectious disease, quality control, and personalized medicine. However, R&D advancements are resulting in the creation of various alternative nucleic acid amplification methods, such as loop medicated isothermal amplification, nucleic acid sequence based amplification, strand displacement amplification, and multiple displacement amplification. These methods offer better applicability and sensitivity in nucleic acid amplification, as compared to PCR, which has limitations such as contamination, sensitivity to certain classes of contaminants and inhibitors, and requirement of thermal cycling. These alternative nucleic acid amplification methods could hamper the growth of the PCR market during the forecasted period.
The key players in the PCR market offer PCR-free nucleic acid detection methods. They are also launching advanced and novel PCR instruments and consumables, which allow for rapid and easy nucleic acid amplification. Additionally, these key players have entered into a number of collaborations to expand their geographical reach and increase patient reach. Thus, the significant organic and inorganic growth strategies adopted by various key players is driving the growth of the PCR market. Geographically, there is growing demand for continuous technological advancements in PCR from the highly lucrative markets, particularly Asia Pacific, Latin America, the Middle East, and Africa.
Coherent Market Insights