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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.
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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:
List of Key Players Mentioned in this Market Report:
Further Findings:
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 |
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By Product |
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By Indication |
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By End User |
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By Geography |
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