Polymerase chain reaction (PCR) is a revolutionary molecular diagnostic technology used to amplify DNA and RNA samples, resulting in numerous copies for improved disease detection. Developed by Kary Mullis in 1983, this technology has evolved over more than two decades. While standard PCR systems have reached maturity, recent technological advancements have given rise to real-time PCR and digital PCR systems, enhancing efficiency and user-friendliness. However, the market faces challenges due to the high costs of instruments, servicing contracts, and reagents, particularly impacting price-sensitive academic institutions. Current market players are focused on enhancing PCR system capabilities, specificity, and sensitivity.
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Market Analysis
The global polymerase chain reaction market is projected to witness a Compound Annual Growth Rate (CAGR) of 9.91% during the forecast period from 2017 to 2023. Market analysis is segmented into four categories: products, application, end-users, and regions.
Emerging Trends
An emerging trend in the market is the adoption of digital and droplet digital PCR technology, known for its superior sensitivity and accuracy compared to traditional methods.
Regional Analysis
The regions covered in the report include North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America leads the PCR market, followed by Europe. Emerging regions with significant growth potential are Asia Pacific and ROW, with India, Brazil, and China expected to experience rapid market expansion.
Product Analysis
The market is categorized into instruments, reagents & consumables, and software & services. Reagents hold the largest share in the global PCR market and are anticipated to exhibit the fastest growth during the forecast period. Key factors driving this growth include the increasing use of PCR in genetic and molecular analysis and the advent of digital PCR technology. However, challenges such as high instrument costs, a shortage of skilled labor, competition from alternative technologies like Next-Generation Sequencing (NGS) and microarrays, and stringent government regulations restrict market growth.
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Application Analysis
PCR applications are predominant in life sciences and clinical diagnostics. Life sciences represent the largest segment, but the clinical diagnostics market is expected to grow rapidly due to the increasing adoption of PCR systems for disease diagnosis. Additionally, the market is witnessing various mergers, acquisitions, and collaborations among top players, shaping the future of the global PCR market.
End-users Analysis
PCR is utilized by hospitals, pharmaceutical & biotechnological companies, academics, and others (such as blood banks). Academics held a significant market share in 2016, but the demand for precise diagnosis of chronic diseases has increased in hospitals and diagnostic laboratories, driving the growth rate of the global PCR market.
Key Players
Key players in the market include Thermo Fisher, Bio-Rad Laboratories, F. Hoffmann-La Roche, Abbott Laboratories, Merck KGaA, Becton Dickinson & Company, Promega, Qiagen N.V., and Agilent Technologies.
Competitive Analysis
Currently, reagents and consumables dominate the global PCR market. Many new players are focusing on developing real-time PCR instruments and reagents to capture future business opportunities. Major market players are acquiring smaller companies with advanced technology products to maintain their leadership positions. For example, Merck KGaA acquired Sigma-Aldrich Corporation, and Bio-Rad entered an agreement to acquire RainDance Technologies, strengthening their digital PCR and liquid biopsy segments.
Benefits
This report provides comprehensive insights into the usage and adoption rates of PCR in various industries and regions. It enables key stakeholders to understand major trends, drivers, investments, and initiatives by industry players. Additionally, the report highlights significant challenges affecting market growth and presents key business opportunities for stakeholders looking to expand their presence, enhance revenue, and make informed investment decisions in this market.
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Key Stakeholders
- Manufacturers
- Healthcare Institutions
- Research and Consulting Firms
- PCR Associations
- Regulatory Bodies
- Investors and Shareholders
Market Dynamics:
Surging air traffic:
- As the global aviation industry continues to expand, there is a corresponding increase in market demand.
Heightened emphasis on safety and reliability:
- The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
Growing commitment to environmental sustainability:
- The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
Escalating globalization:
- The growth of international trade and travel propels the demand for market solutions.
Increasing desire for private air transportation:
- The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
Expanding utilization of digital fuel management systems:
- The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
Advancements in fuel cell technology:
- Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
Mounting demand for air cargo transportation:
- The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
Rising defense budgets:
- Governments worldwide are augmenting their defense spending, leading to heightened market demand.
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