PCR Technologies Market Share Worth $24.52 Billion, Globally, by 2030 - Exclusive Report by The Insight Partners
The PCR Technologies Market size is expected to reach US$ 24.52 billion by 2030 from US$ 13.10 billion in 2022 to record a CAGR of 8.2% from 2022 to 2030.
NEW YORK, Oct. 17, 2024 /PRNewswire/ -- According to The Insight Partners study on the Global PCR Technologies Market is recording significant growth owing to the surging incidences of infectious diseases and genetic disorders. The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the PCR technologies market encompasses an array of platforms and services that are expected to gain prominence in the coming years.
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Competitive Strategy and Development
- Key Players: A few major companies operating in the PCR technologies market include Thermo Fisher Scientific Inc., Promega Corp, QIAGE NV, bioMerieux SA, Hoffmann-La Roche Ltd, Bio-Rad Laboratories Inc, Becton Dickinson and Co, Atila Biosystems Inc, Takara Bio Inc, Standard BioTools Inc, Agilent Technologies Inc, Visby Medical Inc, and Ellume Ltd.
- Trending Topics: Digital PCR (dPCR), next-generation sequencing (NGS) integration, rapid PCR method, CRISPR-Cas9 and PCR, multiplex PCR, PCR in point-of-care testing, PCR in infectious disease surveillance, automated PCR platforms, among others.
Global Headlines on PCR Technologies
- "Roche launches next-generation qPCR system to advance clinical needs in molecular diagnostics and address public health challenges."
- "Stilla Technologies Partners with Niba Labs to accelerate the development of advanced digital PCR assays for cell and gene therapy, strengthen industry research, and expand analytical testing."
- "QIAGEN launches new QIAcuity digital PCR kits and updated software to expand use by biopharma and food safety customers."
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Overview of Report Findings
- Market Growth: The PCR technologies market is expected to reach a value of US$ 24.52 billion by 2030 from US$ 13.10 billion in 2022, at a CAGR of 8.20% from 2023 - 2030. PCR is a molecular technique that makes millions of copies of a particular DNA segment through the amplification of specific sequences. It has proven as a valuable procedure in numerous applications, ranging from genetic research to medical diagnostics, forensic science, and cloning.
- Rising Investments and Funds for Gene Synthesis: Gene synthesis is the most accepted tool in the field of recombinant DNA technology employed for recombinant protein production. It includes PCR technology for gene amplification as well as quantification purposes. In 2021, Camena Bioscience, a synthetic biology startup that supplies genes to the biotechnology and pharmaceutical sectors, completed a US$ 10 million Series A funding round headed by Mercia. With the additional funds, the company plans to expand its operations and continue developments in gene synthesis by upgrading its ground-breaking DNA synthesis platform. Several companies in the PCR technologies market have also increased their research and development funds for the enhancement of gene synthesis techniques.
- Increasing Adoption of PCR Methods in Emerging Countries: Molecular techniques such as PCR have evolved as diagnostic tools in recent years. The technique is regarded as an essential research and diagnostic tool since it allows medical practitioners to diagnose a broad spectrum of infectious disorders with accuracy. In PCR, a single DNA strand can produce millions of copies of itself. The technique also makes early disease diagnosis possible, which makes it crucial in local and global disease control efforts. Moreover, PCR is widely accepted worldwide due to the reproducibility of results, which are often comparable across labs. PCR methods are becoming common in developing nations. They are increasingly being employed in clinical microbiology, allied fields, parasitology, biotechnology, and virology. Thus, the burgeoning application of dPCR and qPCR in developing countries is expected to create lucrative opportunities in the PCR technologies market during the forecast period.
- Geographic Insights: In 2022, North America led the market with a substantial revenue share, followed by Europe and APAC, respectively. Asia Pacific is expected to record the highest CAGR during the forecast period.
Market Segmentation
- Based on technology, the PCR technologies market is segmented into real-time PCR, conventional PCR, reverse transcription PCR, digital PCR, multiplex RT PCR, hot start PCR, and others. The real-time PCR segment held the largest market share in 2022.
- By offering, the PCR technologies market is segmented into reagents and consumables, instruments, and software and services. The reagents and consumables segment held the largest share of the market in 2022.
- In terms of application, the PCR technologies market is divided into gene expression analysis, genetic sequencing, genotyping, nucleic acid synthesis, standard validation, point-of-care diagnostics, environmental application, and others. The genetic sequencing segment held the largest share of the market in 2022.
- In terms of end user, the PCR technologies market is divided into hospitals and diagnostic centers, academia and research institutes, pharmaceutical and biotechnology companies, and others. The hospitals and diagnostic centers segment held a larger share of the PCR technologies market in 2022.
- The PCR technologies market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.
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Conclusion
Advancements in molecular biology, increased demand for rapid diagnostic solutions, and expanding applications of PCR technology in the healthcare research and environment sectors are accelerating growth and innovation in the PCR technology market. Digital PCR, multiplexing, and next-generation sequencing integration contribute to accuracy in genetic analysis. The acceptance of personalized medicine and point-of-care testing would fuel further expansion in the PCR technologies market. Moreover, automated systems and user-friendly software for primer design would automate the process, and make research and clinical use accessible to all. Stakeholders in the PCR technology marketplace plan to focus on all emerging trends and innovations to fully tap its potential to address modern-day scientific and medical problems. The report from The Insight Partners, therefore, provides several stakeholders—including component providers, system technology integrators, and system manufacturers—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.
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PCR (Polymerase Chain Reaction) is a crucial tool in clinical settings due to its ability to amplify specific DNA and RNA sequences, enabling rapid and accurate detection of genetic variants, infectious diseases, and biomarkers. This molecular biology technique has revolutionized research, diagnostics, and various other applications. The increasing prevalence of chronic diseases and advancements in genomic research have further driven the demand for PCR-based diagnostics. As a result, PCR plays a key role in areas such as early detection of diseases, genetic testing, and the identification of pathogens.
Technological advancements in PCR, including automation, integration with software, and improvements in instruments and chemicals, have led to increased performance, sensitivity, and efficiency. These developments have made PCR workflows faster, more accurate, and cost-effective, contributing to the expanding market. Real-time PCR (qPCR) and portable systems, for example, have enhanced diagnostic capabilities, making PCR applicable in remote and point-of-care settings.
Overall, PCR's continuous evolution and its diverse applications across healthcare, agriculture, and research have cemented its importance in modern molecular diagnostics.
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Government and federal agencies worldwide recognize the role of quantitative polymerase chain reaction (qPCR) and dPCR products in genome-based research. In February 2019, Genome Canada partnered with the federal government of Canada and various provincial governments, companies, and research groups. Genome Canada received ~US$ 42.6 million through these partnerships in funding for bioinformatics and human health genomics projects. Visby Medical, an infectious disease diagnostics company based in the US, obtained funding from the National Institutes of Health (NIH) in October 2020 for Phase 2 of its Rapid Acceleration of Diagnostics (RADx) initiative.
In 2021, Camena Bioscience, a synthetic biology startup that supplies genes to the biotechnology and pharmaceutical sectors, completed a US$ 10 million Series A funding round headed by Mercia. With the additional funds, the company expanded its operations and continued the development of its ground-breaking DNA synthesis platform—gSynth. The technology platform and other related resources help the company accelerate the development of gene synthesis. Several companies have also increased their research and development funds to enhance gene synthesis. In 2020, EVONETIX LTD, a synthetic biology startup that creates a desktop platform for high-fidelity, rapid, and scalable gene synthesis, announced the completion of its Series B financing round. The company, led by new investor Foresite Capital, raised US$ 30 million (£23 million) in this round. Therefore, increasing financial support for research and development in disease-specific genomics propels the demand for PCR technologies.
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