Global Polymerase Chain Reaction (PCR) Market to Grow at a CAGR of 1.2% by 2030.

Introduction

Using a thermal cycling procedure, polymerase chain reaction (PCR) is used to amplify a specific region of DNA. Continuous technological advances in the field of polymerase chain reaction aim to increase the specificity, scalability, and reliability of DNA amplification, allowing for the rapid production of millions of amplicons of a target sequence. PCR is utilized for various purposes, including identifying pathogenic bacteria, the diagnosis of disease, molecular and genetic research, forensic DNA profiling, and parentage testing. Increasing demand for advanced diagnostic techniques, increasing contract research organizations (CROs), forensic and research laboratories, and the rising prevalence of chronic diseases, infectious diseases, and genetic disorders are expected to drive market growth. Increasing demand for prenatal genetic testing methods is a further element that will likely contribute to market expansion. Additionally, introducing new technologies is anticipated to boost the market throughout the forecast period.

Market Dynamics

Rising Incidence of Chronic Diseases, Infectious Diseases, and Genetic Disorders to Drive the Global Polymerase Chain Reaction (PCR) Market

During the projected period, the prevalence of chronic and infectious diseases and genetic disorders, such as Alzheimer's disease, Turner syndrome, and Parkinson's disease, is expected to increase, boosting market demand. In addition, the number of individuals with congenital cardiac disease is rising, necessitating the use of molecular diagnostic technologies for reliable diagnoses. Cancer prevalence is anticipated to increase due to poor eating habits, obesity, excessive tobacco and alcohol intake, and a sedentary lifestyle. According to the WHO Regional Director for Europe, cardiovascular diseases/hypertension, diabetes, and other chronic disorders accounted for eight out of ten deaths among coronavirus-infected patients. The SARS-CoV-2 pandemic is driving the demand for qPCR equipment and consumables. The rising incidence of COVID-19 is anticipated to increase the number of preventive screenings, fostering market expansion. In the following years, the increasing prevalence of genetic disorders is anticipated to boost the PCR market even more. In 2016, congenital heart abnormalities were the most frequent congenital disability in the United States, affecting around 1% of births annually, according to a CDC analysis. Thus, the increasing prevalence of various diseases is anticipated to stimulate the PCR market over the forecast period.

Increasing Demand for Prenatal Genetic Testing Procedures to Provide Opportunities for the Global Polymerase Chain Reaction (PCR) Market

Growing awareness of genetic illnesses such as cystic fibrosis, hemophilia, and thalassemia is anticipated to increase the demand for prenatal genetic testing techniques, driving the market forward. During the early stages of pregnancy, fetal DNA contained in the mother's blood or amniotic fluid can be examined using qPCR and dPCR techniques to detect genetic abnormalities before delivery.

Possible genetic abnormalities and fetuses with faulty genes can be treated during early pregnancy. In addition, growth in chromosomal anomalies is anticipated to boost the industry in the future. Sickle cell disease, for example, affects one in 365 African American newborns and approximately 100,000 Americans. This can be linked to the prevalence of consanguineous marriages and many gene defect carriers in the Middle East and Asian nations. This is reinforced by the growing preference for PCR techniques in prenatal genetic testing due to benefits such as the absence of reference standards, short cycle times, and reliable results. In addition, rising healthcare expenditures and the rising demand for precision and safety are anticipated to drive the market.

Regional Insights

By region, the global polymerase chain reaction (PCR) market is segmented into North America, Asia Pacific, Europe, Latin America, Middle East & Africa. 

North America is the largest region of the market and is expected to grow at a CAGR of 0.9% during the forecast period. The increasing prevalence of chronic diseases, genetic disorders, infectious diseases, the rising need for quick diagnostic testing, and a growing elderly population are some of the primary contributors to North America's most significant revenue. In addition, investments in gene-based research and prominent market competitors such as Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., and Agilent Technologies are among the essential drivers driving the industry's expansion. It is anticipated that technological improvements, such as microfluidic PCR in droplets, on-chip, off-chip thermocycling, and on-chip integration, will be among the most influential market drivers. In addition, product improvements in the field of qPCR, such as the QuantStudio 5 real-time PCR system, which is utilized in forensic laboratories for person identification, are anticipated to boost the market.

Europe is the second largest region. It is estimated to reach an expected value of USD 6.2 billion by 2030 at a CAGR of 0.5%. The increasing frequency of cardiovascular diseases and genetic disorders, as well as increased investments in genomics and proteomics, are anticipated to propel the expansion of this region. In addition, increasing government financing, increasing the number of genetic counseling programs undertaken by governments, and increasing investments in the healthcare industry are high-impact contributing drivers of Europe's PCR market. In addition, the presence of key players such as Qiagen and F. Hoffmann-La Roche Ltd., as well as their robust product portfolios, is anticipated to stimulate market expansion. In addition, the spread of SARS-COV-2 has increased demand, and favorable regulatory policies support the development and introduction of COVID-19-related products in the region, which may drive the market in the near future. Nonetheless, the European economic crisis and inconsistent reimbursement rules may impede the expansion of this sector in Europe. In addition, increasing government measures to accelerate testing capacity in developing nations are predicted to fuel market expansion. For instance, in September 2020, European Union and WHO agreed to give Armenia Health Ministry 10,000 Covid-19 PCR tests and other equipment.

The Asia Pacific is the third largest region. Over the forecast period, Asia-Pacific is anticipated to experience the highest growth rate. High unmet clinical requirements, undiscovered market potential, and rising healthcare expenditures are a few of the primary drivers of this region's growth. Technological advances and the increasing prevalence of numerous target diseases are anticipated to enhance the demand for polymerase chain reaction (PCR). In addition, a rise in demand for healthcare products and government measures to improve people's health are anticipated to fuel market expansion throughout the forecast period.

Key Highlights

• The global PCR market size was valued at USD 23.5 billion in 2021 and is estimated to reach an expected value of USD 26 billion by 2030 at a CAGR of 1.2% during the forecast period (2022-2030).
• By type, the global polymerase chain reaction (PCR) market is segmented into conventional PCR and others. The other segment is the market's largest segment and is expected to grow at a CAGR of 1% during the forecast period.  
• By product, the global polymerase chain reaction (PCR) market is segmented into instruments, consumables and reagents, software & services. The consumables & reagents segment is the largest market segment and is expected to grow at a CAGR of 1% during the forecast period. 
• By application, the global polymerase chain reaction (PCR) market is segmented into medical and non-medical. The medical segment is the market's largest segment and is expected to grow at a CAGR of 0.4% during the forecast period. 

Competitive Players

Competitive Landscape

Some of the major companies in the market are Thermo Fisher Scientific Inc.; Bio-Rad Laboratories, Inc.; QIAGEN; F. Hoffmann-La Roche Ltd.; Abbott Laboratories; Cepheid, Agilent Technologies; bioMérieux SA; GE Healthcare; Stilla; Microsynth AG; JN Medsys; and Fluidigm Corporation.

Recent Developments

Market News

• August 2022 - Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb), a global leader in life science research and clinical diagnostics, announced today that it had reached an agreement to acquire all of the outstanding shares of Curiosity Diagnostics, Sp.
• October 2022 - Abbott (NYSE: ABT), producers of the BinaxNOWTM COVID-19 Antigen Self Test, The Home Edit, the world's leading organizing company, and a global lifestyle brand are collaborating to reinvent the medicine cabinet to meet the health requirements of the present. This season, Abbott and The Home Edit will deliver healthcare necessities organization suggestions and guidance to help consumers feel more prepared and in control.

Segmentation

Global Polymerase Chain Reaction (PCR) Market: Segmentation

 By Type

• Conventional PCR
• Others

 By Product

• Instruments
• Consumables and Reagents
• Software & Services

 By  Application

Medical

• Clinical
• Research
• Forensic
• Others

Non-medical

• Food
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa