August 10, 2016
Wellesley, Mass., Aug 10, 2016 – Technologies advances are yielding different types of polymerase chain reaction (PCR) techniques that are improving diagnoses. BCC Research reveals in its new report that PCR technology continues to expand into non-conventional markets, producing solid growth in the global market.
Polymerase chain reaction (PCR) allows DNA sequencing as well as the production of millions of copies of a specific DNA sequence within minutes. PCR technology has help make molecular diagnosis to be easier and faster and as a result is used frequently in the diagnosis of disease, in the identification of bacteria and viruses, and in the linking of criminals to crime scenes.
The global PCR product market is expected to reach $9.8 billion by 2021, up from $7.9 billion in 2016, reflecting a five-year compound average growth rate (CAGR) of 4.4%. The U.S. dominated the global PCR product market, accounting for $3.2 billion in 2015, a figure that should increase to nearly $4.5 billion by 2021. Continuous innovations and research efforts are growth factors. The European market, the next largest segment, should total $2.7 billion in 2021 on the strength of increased product sales. In the emerging markets segment, growth factors such as the rapid increase in medical technologies, improved diagnosis of diseases and the expansion of healthcare should drive this market to more than $2.6 billion in 2021.
Reagents and consumables is the largest market segment, in terms of revenues. The availability of ready-made mixes and reagents has spurred growth in the reagent market. The instruments segment, which includes real-time PCR instruments and thermal cycles, is another high-growth area. Real-time PCR technology has opened up the arena of PCR applications ranging from diagnosis of infectious diseases to DNA fingerprinting in forensic science.
The number of companies entering the PCR reagent business continues to rise, with most of these new entrants small local companies. But to meet the market demands for new products and reagents, many of these small local companies must enter into partnerships or collaborations with leading market players, especially for the product development and distribution phases.
The use of PCR is expanding beyond the conventional markets. Research labs and institutions are using PCR for various research activities of pharmaceutical companies, biotech and drug/product discovery companies, forensic labs and clinical diagnostic labs.
“Drivers of the PCR market include those related to technology, such as advances in instrumentation, reagents and PCR techniques, and increasing R&D,” says BCC Research analyst Shalini Dewan. “Other factors related to health and healthcare, such as increasingly sedentary lifestyles, the growing incidence of diseases such as diabetes, cancer, cardiovascular, and the increasing percentage of baby-boomers are driving growth, as well.”
Polymerase Chain Reaction (PCR) Technologies and Global Markets (BIO087C) analyzes the current and future PCR product market, which includes instruments, reagents and consumables, software and services. The report, which examines drivers, restraints and trends, also provides data from 2014, 2015, and projections of CAGRs through 2021.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming@bccresearch.com.
Polymerase Chain Reaction (PCR) Technologies and Global Markets( BIO087C )
Publish Date: Aug 2016
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