Polymerase Chain Reaction Market is Estimated to Register a Promising CAGR of 8.3% form 2018 to 2026

The global Polymerase Chain Reaction Market is expected to reach a market value of about US$ 7.0 Bn by the end of 2026, expanding at a high single digit CAGR during the forecast period. Rise in R&D expenditure, developments in pharmacogenomics, increase in trend of self-diagnosis of diseases as a preventive means, and emergence of digital PCR technology highly benefiting cancer diagnosis are some factors that are expected to boost the global PCR market during the forecast period. Moreover, increasing research and development activities in advanced molecular biology, genetic engineering, and forensic science are expected to propel the global PCR market during the forecast period. However, the emergence of alternative technology such as next-generation sequencing and the high cost of some commercial PCR technologies are expected to hamper the PCR market.

The global PCR market can be segmented based on product and end-user. In terms of product, the global market can be classified into instruments, reagents, and consumables. The reagents segment dominates the global PCR market, in terms of value, owing to its high consumption. This segment is also expected to expand at a significant CAGR owing to increasing innovation in reagents specificity, rising prevalence of infectious diseases, increasing geriatric population, and availability of different types of tests that require multiple types of reagents. The instruments segment can be further sub-segmented into standard PCR systems, RT PCR systems, and digital PCR systems. Among them, the RT PCR sub-segment is expected to hold a major market share of the instrument segment of the global PCR market by the end of 2026, while the digital PCR systems sub-segment is projected to expand at a prominent CAGR during the forecast period.

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In terms of end-user, the global PCR market can be segregated into pharmaceutical and biotechnology industries, clinical diagnostics labs and hospitals, academic and research organizations, and others. The pharmaceutical and biotechnology industry segment held a major share of the market in 2017. Continuous development in pharmaceutical and biotechnology industries has driven the evolution of PCR techniques. The advent of these techniques has enabled scientists to identify novel genes, genetic variation, and gene expression in the tissues of an organism, which in turn has led to the comparative analysis of normal and diseased tissues.

The clinical diagnostics labs and hospitals segment is projected to expand at a significant CAGR during the forecast period owing to the increase in applications of the PCR technique for the diagnosis of infectious diseases and cancer. For instance, Centers for Disease Control and Prevention (CDC) published a report, in 2012, on polymerase chain reaction (PCR) for timely diagnosis of the disease. The report stated that PCR is an important tool for the diagnosis of pertussis. Moreover, PCR, when combined with mass spectrometry, helps identify clinically important pathogens such as Bordetella pertussis, influenza A virus, and Neisseria meningitides.