Polymerase Chain Reaction Market Worth $16.82 Billion By 2030

Polymerase Chain Reaction Market Growth & Trends 

The global polymerase chain reaction market size is expected to reach USD 16.82 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of -9.3% from 2023 to 2030. The demand for polymerase chain reaction (PCR) testing is expected to be driven by the increasing demand for advanced diagnostic techniques; rising forensic and research applications; and the growing prevalence of diseases such as chronic diseases, infectious diseases, and genetic disorders. Moreover, increasing demand for genetic testing procedures and the introduction of novel technologies are other key factors likely to increase the demand for PCR testing. 

The market is expected to witness growth opportunities owing to factors such as the increasing adoption of advanced diagnostic tests and the growing adoption of PCR technologies in medical and non-medical applications. Moreover, the launch of novel technologies, an increasing number of CROs, and research and forensic laboratories are expected to propel the demand forward during the forecast period. Several research institutes and CROs are involved in genomics-based research to develop innovative strategies for disease management. 

The introduction of novel and technologically advanced tests is opening new growth opportunities. For instance, in January 2021, GeneIQ announced the launch of its 4-in-1 PCR test for the detection of influenza B (Flu B), influenza A (Flu A), respiratory syncytial virus (RSV), and SARS-CoV-2. Similarly, in December 2020, Menarini Diagnostics launched a molecular test that is used to distinguish between Flu and SARS-CoV-2. Such initiatives will increase the demand for novel PCR tests. 

Favorable initiatives undertaken by government bodies are encouraging the players to develop novel molecular tests for different applications. For instance, in January 2020, the University of Helsinki in collaboration with the European Union under the EU/EFPIA Innovative Medicines Initiative Joint Undertaking, funded research for the assessment of qPCR for microbiota profiling. In the study, the iCycler iQ thermal cycler system was used with HOT FIREPol EvaGreen qPCR Mix Plus for studying Clostridium cluster XIVa. Moreover, in March 2020, International Atomic Energy Agency (IAEA) announced a partnership with the Food and Agriculture Organization of the United Nations (FAO) for supporting the use of reverse transcription-PCR. 

Several companies are adopting strategies such as acquisitions for strengthening their positions. Acquisition assists companies to enhance their offerings, capabilities, and competencies. For instance, in January 2021, Thermo Fisher Scientific, Inc. announced that it has acquired Mesa Biotech, Inc. - a molecular diagnostic company for USD 450 million to strengthen its product portfolio. Thus, various strategies adopted by companies are anticipated to propel the demand forward over the forecast period. 

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Polymerase Chain Reaction Market Report Highlights

• In 2022, the medical application segment dominated the market owing to the rising application of PCR in clinical diagnostics and drug development and research

• The consumables and reagents product segment held the largest revenue share in 2022 and is expected to retain its dominance over the forecast period

• North America dominated the market in 2022 due to the presence of favorable regulations and various initiatives about the advancements in healthcare infrastructure undertaken by the government and the high prevalence of diseases in the region 

Polymerase Chain Reaction Market Segmentation

Grand View Research has segmented the global polymerase chain reaction market based on type, product, application, and region: 

Polymerase Chain Reaction Type Outlook (Revenue, USD Million; 2018 - 2030)

• Conventional PCR

• Others

Polymerase Chain Reaction Product Outlook (Revenue, USD Million; 2018 - 2030)

• Consumables & Reagents

• Instruments

• Software & Services

Polymerase Chain Reaction Application Outlook (Revenue, USD Million; 2018 - 2030)

• Medical

  • Clinical

    • Pathology Testing

    • Oncology Testing

    • Blood Screening

    • Others

  • Research

  • Forensics and Others

• Non-medical

  • Food

  • Others

Polymerase Chain Reaction Regional Outlook (Revenue, USD Million; 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • U.K.

  • France

  • Italy

  • Spain

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • South Africa

  • UAE

List of Key Players in the Polymerase Chain Reaction Market

• Thermo Fisher Scientific Inc.

• Danaher

• Abbott

• Bio-Rad Laboratories, Inc.

• Agilent Technologies, Inc.

• QIAGEN

• F. Hoffmann-La Roche Ltd.

• Stilla

• Standard BioTools

• Microsynth AG