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Polymerase Chain Reaction Market to Reach $13.75 bn by 2028; QuantuMDx Launches Q-POC; Set to Offer Colossal Growth Prospects

January 20, 2022 | Healthcare

The global polymerase chain reaction (PCR) market size was USD 7.10 billion in 2020. The market is projected to grow from USD 7.80 billion in 2021 to USD 13.75 billion by 2028 at a CAGR of 8.4% in the 2021-2028 period.


This information is provided by Fortune Business Insights, in its report, titled, “Polymerase Chain Reaction (PCR) Market Size, Share & COVID-19 Impact 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, 2021-2028.”


COVID-19 Impacts:


COVID-19 Pandemic Drastically Deteriorated Product Demand


With the abrupt appearance of COVID-19 pandemic globally, requirement for precise diagnosis of the disease grew enormously in nations all across the globe. The process turned out to be the most dependable source for medical diagnosis. This resulted in a never-ending demand for polymerase chain reaction products such as assays, reagents, and instruments from all around the world.


Eurofins Presents Novel Multiplex Assay for Rapid Identification of SARS-CoV-2 Variant


Eurofins Technologies declared the unveiling of its GSD NovaType III SARS-CoV-2 RT-PCR test, established for the prompt recognition of SARS-CoV-2. This test enables the identification of the appropriate mutations E484K, E484Q, and L452R in one reaction coupled with the concurrent discrimination from the S gene E484 wild type alternative. These alterations have been linked with reports of possible reduced efficiency of selected vaccines and a surge in the transmissibility of the virus.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/polymerase-chain-reaction-pcr-market-102528


Drivers and Restraints:


Surging Existence of Tuberculosis and Other Infective Viruses to Fuel Demand


Tuberculosis is one of the most general communicable ailments prevailing, which is considerably widespread in developing nations. According to the World Health Organization (WHO), in 2019, an anticipated 10 million people all over the world were tackling tuberculosis. Moreover, these tests have been promoted for rapid diagnosis of pulmonary tuberculosis, substituting the average phlegm smear microscopy technique. The increasing commonness of these infectious diseases is resulting in a higher demand for diagnosis, and therefore is composed to fast-track the polymerase chain reaction market growth.


Competitive Landscape:


Significant Players Focus on Offering New Products & Attaining Firms to Augment Sales


The important players in the polymerase chain reaction sector implement various tactics to spur their position in the market as leading companies. One such vital approach is acquiring various small as well as mid-cap companies to elevate the brand value among users. Another operative strategy is periodically launching inventive products with inclusive study of the market and its target audience.


Industry Developments:



  • July 2021 - QuantuMDx, which is a U.K. situated company, declared the launch of Q-POC. The product is a quick point-of-care diagnostic system directed at identification of SARS-CoV-2.


List of Key Players Mentioned in this Market Report:



  • Bio-Rad Laboratories, Inc. (California, U.S.)

  • QIAGEN (Hilden, Germany)

  • F. Hoffmann-La Roche Ltd (Basel, Switzerland)

  • Agilent Technologies, Inc. (California, U.S.)

  • Abbott (Illinois, U.S.)

  • Eppendorf AG (Hamburg, Germany)

  • Sysmex Inostics (Hyogo, Japan)

  • Thermo Fisher Scientific Inc. (Massachusetts, U.S.)

  • BD (New Jersey, U.S.)


Further Findings:



  • North America held the largest polymerase chain reaction market share and was valued at USD 2.94 billion in 2020. The market in the region is characterized by higher prevalence and diagnosis rates for infectious diseases, coupled with adequate reimbursement policies for such devices.

  • Based on type, the market is segmented into standard PCR, real-time PCR, and digital PCR. The real-time PCR segment dominated the global market share in 2020. Increase in demand owing to the COVID-19 pandemic spurred the growth in sales of the companies.


Table of Segmentation:


























































  ATTRIBUTE



  DETAILS



Study Period



2017-2028



Base Year



2020



Estimated Year



 2021



Forecast Period



2021-2028



Historical Period



2017-2019



Unit



Value (USD billion)



Segmentation



Type; Product; Indication; End User; and Geography



By Type




  • Standard PCR

  • Real-time PCR

  • Digital PCR



By Product




  • Instruments

  • Reagents & Consumables



By Indication




  • Infectious Diseases

  • Oncology

  • Genetic Disorders

  • Others



By End User




  • Hospitals & Clinics

  • Pharmaceutical & Biotechnology Industries

  • Diagnostic Centers

  • Academic & Research Organizations



By Geography




  • North America (By Type, By Product, By Indication, By End User, and By Country)

    • U.S. (By Type)

    • Canada (By Type)



  • Europe (By Type, By Product, By Indication, By End User, and By Country)

    • U.K. (By Type)

    • Germany (By Type)

    • France (By Type)

    • Italy (By Type)

    • Spain (By Type)

    • Rest of Europe (By Type)





  • Asia Pacific (By Type, By Product, By Indication, By End User, and By Country)





    • China (By Type)

    • Japan (By Type)

    • India (By Type)

    • Australia (By Type)

    • Southeast Asia (By Type)

    • Rest of Asia Pacific (By Type)



  • Latin America (By Type, By Product, By Indication, By End User, and By Country)

    • Brazil (By Type)

    • Mexico (By Type)

    • Rest of Latin America (By Type)



  • Middle East & Africa (By Type, By Product, By Indication, By End User, and By Country)

    • GCC (By Type)

    • South Africa (By Type)

    • Rest of Middle East & Africa (By Type)




Polymerase Chain Reaction (PCR) Market
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