Summary

Global Polymerase Chain Reaction Market is expected to grow at a significant rate of around 9% during the forecast period. PCR stands for a polymerase chain reaction which is a molecular diagnostic technique that detects genetic material from a specific organism such as a virus. PCR technology is used to generate millions of copies of a piece of DNA. These techniques are commonly used in various life science fields such as genetics, molecular biology research, and clinical diagnostics. The global polymerase chain reaction market is anticipated to witness an uptick with the growing focus on genome research and rising government funding for conducting gene-based research across the world. For instance, in Ireland, Genomics Medicine Ireland (GMI) received funding of USD 413.91 million for conducting genome-related research in 2018 enabling scientists to expand their research to over 60 areas of diseases. Furthermore, with the widespread expansion of the coronavirus, there is a surge in demand for an effective and accurate molecular diagnostics technique including PCR. Thus, key players are launching new and innovative PCR kits for affordable and accurate diagnosis of COVID-19. For instance, in 2020, Equine Biotech, an IISC startup, developed an indigenous RT-PCR diagnostic kit called "GlobalTM diagnostic kit“. The test takes about 1.5 hours to confirm the presence of SARS-CoV-2 in patient samples.

Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., QIAGEN, Agilent Technologies Inc., Standard Biotools, F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Abbott, Promega Corporation, Takara Bio Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst type, real-time PCR segment held a significant market share in 2021”
Based on type, the polymerase chain reaction market is segmented into real-time RT-PCR, conventional PCR, digital PCR, and others. The real-time PCR segment held a significant market share in 2021. This is mainly due to the commonly used gene expression and DNA or RNA in a sample. Also, the use of real-time RT-PCR to identify the existence of SARS-CoV during the COVID-19 pandemic prompted the growth of the RT-PCR market. For instance, in March 2020, the COVID-19 genomics U.K. consortium (COG-U.K.) was performed to study the coronavirus genome by using whole-genome sequencing.

“Amongst application, the infectious diseases are expected to grow with a significant CAGR during the forecast period”
Based on application, the polymerase chain reaction market is segmented into infectious diseases, cancer, inherited disorders, and others. Infectious diseases are expected to grow with a significant CAGR during the forecast period. This is mainly due to an increase in the prevalence of infectious diseases. As per the article of BMC Infectious Diseases, in 2022, in total, 106,289 cases of 130 infectious diseases were diagnosed among the population, with an incidence density (ID) of 694.86 per 100,000 person-years.

“North America held a significant share in the market”
In 202, North America held a significant share of the global polymerase chain reaction market. This is mainly attributed to the increasing cancer incidence and higher government-funded initiatives. For instance, as per the GLOBOCON 2020, 22,81,658 new cancer cases and 6,12,390 deaths were reported in the U.S. The major factors such as favorable government initiatives, increasing public-private investments in the field of cancer microbiome sequencing, and the rising cancer incidences in the region. For instance, in America, nearly 1.9 million new cancer cases were expected to be diagnosed in 2021. Approximately 608,570 Americans are expected to die of cancer in 2021, which translates to about 1,670 deaths per day. This has attracted the focus of many biotechnology companies on developing cancer microbiome sequencing solutions for different applications such as translational research and diagnostics which will further support the researchers and clinicians to unravel insights pertaining to the microbiome's influence on cancer manifestation and progression.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global Polymerase Chain Reaction market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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