The polymerase chain reaction market is expected to register a CAGR of 8% over the forecast period. Polymerase chain reaction (PCR) is a technique, which is used to amplify target DNA and to generate thousands to millions of copies of a particular DNA segment. PCR techniques are used in clinical and research laboratories for a broad variety of applications, which include clinical diagnosis, criminal forensics, and biomedical research.
Growing Demand for Personalized Medicine is driving the Market Growth
Personalized medicine aims to provide tailor-made therapies to individual patients, depending on the molecular basis of disease and has become popular over the recent years. Healthcare technology, genomics, connected devices, big data analytics, and artificial intelligence are generating vast amounts of health data and insights. This enables the healthcare providers to offer better and faster diagnoses, and make more informed treatment decisions. To facilitate personalized medicine, it is crucial to develop precise and reproducible means of gaining molecular information about the underlying disease. This can be used to guide clinical decision-making, and the PCR techniques are increasingly being utilized in such screening methods. Various methods are being utilized for the screening of cancer-causing mutations, which include single-strand conformational analysis, pyrosequencing, and probe-based detection strategies; all of these protocols incorporate a PCR in one step or another.
Other factors, which are contributing to the market growth include the increasing application in clinical diagnostics, technological advancements, and drug development.
High Cost of Instruments is limiting the Adoption
In the current era, owing to the rising demand for personalized medicine, rise in genomic research, and other industrial applications (such as insulin synthesis and genetically modified crops), the ability to amplify any arbitrary DNA sequence is increasing in demand. Price of an instrument is often one of the most important factors considered by the commercial clinical diagnostic laboratories when purchasing a new diagnostic machine. Apart from having a direct and immediate impact on the laboratory’s budget, the high cost of instrument can significantly decrease the profitability of the operations, for which it was procured. Furthermore, the PCR based molecular assay systems are also associated with high running cost of the cycler, which arise due to the large reaction volumes and high cost of reagents and consumables. Therefore, high cost associated with the procurement and operations of PCR instrument remain a significant hurdle that can hinder the market growth during the forecast period.
Other factors which can potentially impede the market growth include technological limitations of qPCR and dPCR techniques.
North America Dominates the Polymerase Chain Reaction Market
In 2017, North America was the largest regional market, in terms of revenue. The increasing prevalence of genetic and chronic disorders, such as cancer, aging population, growing demand for precision and personalized medicine, and favorable government initiatives are the primary factors behind the large market size. The growth can also be attributed to the presence of sophisticated diagnostics laboratories and high acceptance rate of novel assay technologies.
Key Developments in the Polymerase Chain Reaction Market
- Dec 2017: Thermo Scientific’s RapidFinder Salmonella Multiplex PCR System gained AOAC-RI approval for rapid and simultaneous detection of the Salmonella species, Salmonella Typhimurium and Salmonella Enteritidis.
Major Players: Abbott Laboratories, Agilent Technologies Inc, Becton, Dickinson and Company, Beckman Coulter Inc., Bio-Rad Laboratories Inc., BioMerieux SA, GE Healthcare, Merck KGaA, PerkinElmer Inc., Promega Corporation, Siemens Healthcare, and Thermo Fisher Scientific Inc., among others.
Polymerase Chain Reaction Market Report Summary
Polymerase Chain Reaction Market
(2018 – 2023)
Dec 2017: Thermo Scientific’s RapidFinder Salmonella Multiplex PCR System gained AOAC-RI approval for rapid and simultaneous detection of the Salmonella species, Salmonella Typhimurium and Salmonella Enteritidis.
Abbott Laboratories, Agilent Technologies Inc., Becton, Dickinson and Company, Beckman Coulter Inc., Bio-Rad Laboratories Inc., Merck KGaA, Siemens Healthcare, and Thermo Fisher Scientific Inc., among others.
The polymerase chain reaction market report offers latest trends, growth prospects, industry competitiveness, major players, value/supply chain, regional market share, and forecast to 2023.
Reasons to Purchase Polymerase Chain Reaction Market
- Analyzing various perspectives of the global polymerase chain reaction market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support along with the Market Estimate sheet (in Excel)
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1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Products and Services
5.2.5 Competitive Rivalry within the Industry
6. Market Dynamics
6.1.1 Increasing Application in Clinical Diagnostics
6.1.2 Increasing Demand for Personalized and Precision Medicine
6.1.3 Technological Advancements and Application in Drug Development
6.2.1 High Cost of Instruments
6.2.2 Technological Limitations of qPCR and dPCR Techniques
6.4 Key Challenges
7. Market Segmentation
7.1 By Product
18.104.22.168 Standard PCR Systems
22.214.171.124 Digital PCR Systems
126.96.36.199 Real-Time PCR Systems
7.1.2 Reagents and Consumables
7.2 By Application
7.2.1 Clinical Diagnostics
7.2.2 Life Science Research and Industrial Applications
7.2.3 Other Applications (Environmental Microbiology, and Forensics)
7.3 By End User
7.3.1 Academic and Research Organizations
7.3.2 Clinical Diagnostics Labs and Hospitals
7.3.3 Pharmaceutical and Biotechnology Industries
7.4 By Geography
7.4.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
7.4.4 Middle East & Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle East & Africa
7.4.5 South America
184.108.40.206 Rest of South America
8. Key Players and Competitive Landscape
8.1 Abbott Laboratories
8.2 Agilent Technologies Inc.
8.3 Beckman Coulter Inc.
8.4 Becton, Dickinson and Company
8.5 BioMerieux SA
8.6 Bio-Rad Laboratories Inc.
8.7 GE Healthcare
8.8 Merck KGaA
8.9 PerkinElmer Inc.
8.10 Promega Corporation
8.11 Siemens Healthcare
8.12 Thermo Fisher Scientific Inc.
* List not Exhaustive
9. Future of the Market