Polymerase Chain Reaction (PCR) Consumables Market – Snapshot
Polymerase chain reaction (PCR) is used to amplify or make many copies of a deoxyribonucleic acid (DNA) sequence of interest. It is used in a variety of applications such as DNA cloning, diagnosis of hereditary diseases, functional analysis of genes, paternity testing, detection of infectious diseases, and forensic sciences. The global polymerase chain reaction (PCR) consumables market was valued at around US$ 415.20 Mn in 2017 and is anticipated to expand at a CAGR of more than 4.5% from 2018 to 2026 to reach around US$ 639.89 Mn by 2026.
Rise in geriatric population, increasing adoption of personalized medicine, rise in the incidence of chronic diseases, and growing awareness about disease diagnosis are some of the factors that are accelerating the growth of the polymerase chain reaction (PCR) consumables market.
Over a period of time, applications of PCR consumables have increased rapidly in the areas of life sciences, health care, clinical research, pharmaceuticals, and food & beverage. Technological advancements have been made to meet specific requirements for the amplification of desired biological components from the sample solutions and to improve overall throughput time and work efficiency of laboratories. Developments in the molecular diagnostic technology, fueled by the need for fast, accurate diagnosis for patients and doctors in the ever-evolving health care industry, are boosting the polymerase chain reaction (PCR) consumables market. Identification of genomic differences to predict drug resistance or drug response by patients could offer scope to design a therapy tailored to the specific characteristics of a particular type of cancer. The understanding and exploration of cancer cells through PCR technology is expected to help in developing targeted therapy and personalized, preventive, and therapeutic solutions for different types of cancer. According to the WHO, approximately 35.3 million people were diagnosed with HIV and approximately 1.6 million people died of AIDS in 2012. Moreover, according to the Centers for Disease Control and Prevention (CDC), approximately 50,000 individuals are diagnosed with HIV in the U.S. each year. PCR has enabled the identification of pathogens within a short span of time and has played a pivotal role in the management of various chronic viral infections.
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The polymerase chain reaction (PCR) consumables market has been segmented based on product, distribution channel, and region. In terms of product, the PCR tubes segment is estimated to account for a large share of the market. PCR has transformed disciplines from forensics to food safety and clinical diagnostics to genomics in the last two decades. There is potential for future development of the technology. R&D would boost market expansion and create new avenues for revenue generation, as was demonstrated in the past with qPCR. One of the newest developments in the use of PCR technology in molecular diagnostics is the polymerase chain reaction-enzyme linked immunosorbent assay (PCR-ELISA), an advanced immune-detection method.
Based on distribution channel, the research and academic institutes segment constituted a major share of the market in 2017. The segment is likely to expand at a considerable growth rate as compared to other distribution channel segments during the forecast period. The polymerase chain reaction (PCR) consumables market has expanded at a rapid pace in the past few years, mainly due to increasing participation of public research organizations. Rise in government and private funding for research and investments in R&D by biotechnology companies is expected to drive the research and academic institutes segment.
In terms of region, the global polymerase chain reaction (PCR) consumables market has been categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Developed regions such as North America and Europe accounted for a leading share of the global polymerase chain reaction (PCR) consumables market in 2017. The large base of biopharmaceutical companies and research and academic institutes in these regions has contributed to the leading share of these regions. Moreover, rapid expansion and increase in number of research and academic institutes in these regions are expected to propel demand for polymerase chain reaction (PCR) consumables during the forecast period. The market in Asia Pacific is projected to expand at an exponential growth rate, owing rapidly improving health care facilities in countries such as India, China, South Korea, and Malaysia. Japan dominated the polymerase chain reaction (PCR) consumables market in Asia Pacific, whereas the market in China is anticipated to record significant growth during the forecast period. Also, increase in investment by leading clinical diagnostic labs and hospitals providers is expected to fuel the market in the region. These factors are likely to drive demand for polymerase chain reaction (PCR) consumables in the near future. The market in Latin America and Middle East & Africa is projected to maintain a steady growth rate during the forecast period.
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Prominent players in the global polymerase chain reaction (PCR) consumables market include Bio-Rad Laboratories, Inc., Hoffmann-La Roche Ltd., Inc., Thermo Fisher Scientific Inc., Qiagen N.V., Merck KGaA, Agilent Technologies, Inc., Eppendorf Group, 4titude, Corning Incorporated, and Greiner Bio-One International GmbH.
This post was originally published on Space Market Research