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Polymerase Chain Reaction (PCR) Market Analysis

The Polymerase Chain Reaction Market size is estimated at USD 13.31 billion in 2024, and is expected to reach USD 19.94 billion by 2029, growing at a CAGR of 8.42% during the forecast period (2024-2029).

The COVID-19 pandemic significantly impacted the polymerase chain reaction market growth. There was a positive impact on the PCR market due to the increasing demand in the clinical diagnostic segment of the market. As the authorities have not recommended viral culture tests, almost all the diagnostic tests use RT-PCR to test the population who had symptoms of COVID-19 were advised by healthcare professionals to undergo a diagnostic test. Most pharmaceutical and biotechnological companies were focusing on the research and development departments on identifying new molecules or leads for the treatment of COVID-19. For instance, in May 2021, Cipla Limited launched 'ViraGen', a polymerase chain reaction (COVID-19 RT-PCR) test for COVID-19 in India in partnership with Ubio Biotechnology Systems Pvt. Ltd. Hence, the COVID-19 pandemic impacted the studied market initially. As the pandemic subsided, fewer PCR tests are being carried out due to which the market has lost some traction that it gained during the pandemic. However, the studied market is expected to have favorable growth over the forecast period of the study.

The major factors driving the growth of the polymerase chain reaction market include the increasing application in clinical diagnostics, rising demand for personalized and precision medicine, and technological advancements and applications in drug development.

The rising demand for personalized and precision medicine is a major factor driving the polymerase chain reaction market growth. For instance, according to an article published by PubMed Central in January 2022, the application of personalized medicine (PM) is said to be rapidly evolving and it has expanded beyond simple genomics. The article also stated that personalized medicines are applied to make medical decisions by integrating daily health, disease characteristic, organ function, environmental, and lifetime exposure data. Furthermore, according to an article published by PubMed in September 2022, digital PCR (dPCR) is a new technology that offers higher precision and other better indicators than the former PCR techniques. The article also stated that dPCR is particularly suited for precision medicine applications that require accurate molecular characterization with high sensitivity. Hence, the rising demand for precision medicines and the increasing adoption of PCR in precision medicine is expected to boost the market growth during the forecast period of the study.

Additionally, technological advancements in molecular biology, life sciences, and biotechnology have brought a paradigm shift in drug discovery, personalized medicines, forensic sciences, and clinical research and development in the biotechnology industry. Polymerase chain reaction (PCR) is an integral part of the pharmaceutical and life science industries, for developing assays, test kits and solutions, and culture media. The rising use of these PCR techniques in disease diagnosis is further fueling market growth. For instance, according to an article published by PubMed Central in July 2022, multiplex PCR has become more and more widely used in the rapid detection of respiratory tract infections as it is relatively cost-saving and can report results within hours, which has become one of the most attractive test methods and currently one of the most commonly used methods in the clinical laboratory.

In addition, new product launches and strategic activities by major players in the market are positively affecting the growth of the studied market. For instance, in August 2022, GenScript USA launched a real-time polymerase chain reaction (RT-PCR) monkeypox test for research lab use. The kit was developed in partnership with Anbio Biotechnology, and it was made available for diagnostic labs and medical device distributors to be used in research to detect the monkeypox virus. Additionally, in September 2022, Bosch launched a new Vivalytic test MRSA/SA for Bosch's Vivalytic platform, thus expanding the test portfolio of this universal PCR system. Hence, these new product launches are expected to boost the growth of the studied market.

Therefore, owing to the factors such as new product launches and strategic activities by major players, technological advancements in molecular biology, life sciences, and biotechnology, and rising demand for personalized and precision medicine, the studied market is anticipated to witness growth over the analysis period. However, the high cost of instruments and the emergence of alternative technologies are the factors hindering the polymerase chain reaction market growth.

Polymerase Chain Reaction (PCR) Industry Segmentation

According to the scope of this report, polymerase chain reaction (PCR) is a method used to make thousands to millions of copies of a certain DNA segment by amplifying target DNA. PCR techniques are used in clinical and research laboratories for a broad variety of applications, which include clinical diagnosis, criminal forensics, and biomedical research. The Polymerase Chain Reaction Market is Segmented by Product (Instruments, Reagents and Consumables, and Software), Application (Clinical Diagnostics, Life Science Research, Industrial Applications, and Other Applications), End User (Academic Institutes, Clinical Diagnostics Labs and Hospitals, Pharmaceutical and Biotechnology Industries, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.