Polymerase Chain Reaction (PCR) Market to Rise at a CAGR of 8.3%,
Polymerase Chain Reaction (PCR) Market |2021 Analysis, Key Opportunities Major Players, Impact of COVID-19 and Size, Growth, Share, Regional Analysis With Global Industry Forecast To 2027, The global “Polymerase Chain Reaction (PCR) Market” is expected to reach USD 8.14 billion by 2026, on account of the advent of digitalization and the gradual shift from traditional PCR to digital PCR for diagnostics purposes. PCR is considered the most unique and most widely referred clinical testing technique utilized in modern biology. It includes a molecular technology for the in-vitro amplification of a specific region in a DNA strand.
More information on this market is presented in a recently published report by Fortune Business Insights™ titled, “Polymerase Chain Reaction (PCR) Market Size, Share & Industry Analysis, By Type (Standard PCR, Real-time PCR, and Digital PCR), By Product (Instruments and Reagents & Consumables), By Indication (Infectious Diseases, Oncology, Genetic Disorders, and Others), By End User (Hospitals & Clinics, Pharmaceutical & Biotechnology Industries, Diagnostic Centers, and Academic & Research Organizations), and Regional Forecast, 2019-2026.” As per this report, the market value was USD 4.31 billion in 2018 and will rise at a CAGR of 8.3% between 2019 to 2026.
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Regional Segmentation:
North America Dominating Market with Adequate Reimbursement Policies for PCR Devices
As per segmentation by region, North America earned a revenue of USD 1.72 billion in 2018 and contributed the largest polymerase chain reaction market share. Factors attributed to this dominance include the increasing prevalence and diagnosis cases of infectious diseases, the presence of adequate reimbursement policies for PCR devices, and the high number of the patient population adopting new diagnostic procedures. This is being followed by Europe, owing to the increasing incidences of different cancer types and metabolic diseases that require advanced therapies and diagnosis.
Additionally, the Asia Pacific market is likely to witness robust growth during the forecast period on account of the rise in awareness amongst the patient population about the presence of advanced PCR devices, coupled with the presence of a substantial underpenetrated market. Furthermore, the Middle East and Africa and Latin America markets are considered to be in the nascent stage and are likely to witness stable growth in the coming years. This is attributable to the increasing prevalence of genetic and infectious diseases.
Competitive Landscape:
Mergers and Acquisitions Strategies Adopted by Players will Help Gain High Revenue
The global polymerase chain reaction market has a diverse portfolio on account of the presence of both digital PCR and real-time PCR. Leading players of this market include companies such as Agilent Technologies, Inc., QIAGEN, Bio-Rad Laboratories, Inc., and F. Hoffmann-La Roche Ltd. Players are adopting strategies such as the introduction of new products, substantial investment in research and development of the same, company collaborations, mergers and acquisitions, and others for gaining the upper hand in the market competition.
What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
Polymerase Chain Reaction Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, RandD activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
For More Information in the Analysis of Reports:
https://www.fortunebusinessinsights.com/polymerase-chain-reaction-pcr-market-102528
Leading Players operating in the Polymerase Chain Reaction (PCR) Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Agilent Technologies, Inc.,
- Qiagen
- Hoffmann-La Roche Ltd
- Bio-Rad Laboratories, Inc.
- Sysmex Inostics
- Abbott
- Thermo Fischer Scientific Inc.
- Eppendorf AG
- Other players
Market Drivers
Government Initiatives for Increasing Awareness will Augment Growth
The increasing prevalence of infectious and genetic diseases is a significant factor in promoting the polymerase chain reaction market growth. Besides this, the rise in demand for innovative devices and the advent of miniature PCR devices are aiding in the expansion of the market. Moreover, the highly precise and direct quantification of digital PCRs is further anticipated to attract high PCR market revenue during the forecast period. However, the high cost associated with commercial PCR assays may pose a significant hindrance to the growth of the market. This, coupled with the lack of awareness about PCR and their diagnostic benefits in underdeveloped nations, may also restrict its growth. Nevertheless, a lead analyst at Fortune Business Insights says, “Increasing initiatives taken by both government and non-governmental support organizations to spread awareness and expand product offerings by increasing awareness about the same is prognosticated to create lucrative growth opportunities in the near future.”
Quick Buy - Polymerase Chain Reaction (PCR)Market Research Report:
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Reasons to Purchase this Report:
- Comprehensive analysis of the Polymerase Chain Reaction (PCR) Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
KEY QUESTIONS ANSWERED:
- What are the key technological and Polymerase Chain Reaction (PCR) Market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- Why Choose Fortune Business Insights?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Polymerase Chain Reaction (PCR) Market growth?
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