Feb 21, 2024
Blog Biotechnology Future Top Trends Shaping the Polymerase Chain Reaction (PCR) Market
Polymerase Chain Reaction (PCR) is a molecular biology technique developed by Kary B. Mullis in 1983. It serves as a molecular photocopy machine, allowing scientists to amplify and replicate specific DNA sequences in a controlled and efficient manner. It enables the selective and exponential production of a particular segment of DNA in vitro. PCR involves cycles of heating and cooling to denature the DNA, allowing the synthesis of complementary strands by a DNA polymerase enzyme. This process results in the rapid and precise amplification of the target DNA, making PCR a powerful tool in various applications, including genetic research, diagnostics, and forensic analysis. PCR market has experienced remarkable growth in recent years. BCC Research predicts that the global market for polymerase chain reaction (PCR) is expected to reach $12.6 billion by 2028, reflecting a CAGR of 6.7% from 2023 through 2028.
COVID-19 - The COVID-19 pandemic played a pivotal role in accelerating the growth of the PCR technology market. As the virus spread globally, PCR became the gold standard for diagnosing COVID-19 due to its high sensitivity and specificity in detecting viral genetic material. The urgent need for mass testing, contact tracing, and accurate diagnosis led to unprecedented demand for RT-qPCR testing. Laboratories, healthcare facilities, and diagnostic companies worldwide invested heavily in PCR systems, reagents, and consumables to scale testing capacity and meet the rising demand.
Robust Demand in Industrial Applications - The demand for PCR technology in industrial applications is steadily growing due to its versatility and reliability. PCR plays a crucial role in agriculture, food safety, environmental monitoring, and forensics, offering precise and rapid DNA and RNA analysis. PCR ensures the quality and safety of products and environments.
Growth in Genomic and Biomarker Research - The genomics market is growing rapidly, and its global reach is expanding. This growth can be attributed to growth in genomic research activities, rising numbers of biotech start-up companies, and increasing use of genomics-based products, such as mRNA-based cancer therapies and mRNA vaccines. The growing interest in understanding genetics, studying gene expression, and exploring genetic variations/biomarkers has driven the demand for PCR technology in the research community.
Growing Demand in Clinical Diagnostics - The growing need for molecular diagnostics in oncology, infectious diseases, and genetic testing has led to a heightened adoption of PCR to detect genetic mutations, infectious diseases, and other clinically relevant biomarkers with high precision. The development of portable and point-of-care (PoC) PCR devices enabled rapid and on-site testing. These devices are used in healthcare facilities, field research, and resource-limited settings, further expanding the PCR market in clinical diagnostics.
The global market for polymerase chain reaction (PCR) is estimated to increase from $9.1 billion in 2023 to reach $12.6 billion by 2028, at a compound annual growth rate (CAGR) of 6.7% from 2023 through 2028.
The global PCR Technology market is poised for substantial growth, with BCC Research estimating a global market size of $12.6 billion by 2028, exhibiting a steady annual growth rate of 6.7% from 2023 to 2028. The U.S. market is also expected to expand, reaching $4.4 billion by 2028, driven by key market drivers such as the impact of COVID-19, continuous technological advancements, increasing demand in clinical diagnostics, growth in genomic and biomarker research, and robust demand in industrial applications. These factors collectively indicate a positive outlook for the PCR Technology market, reflecting its pivotal role in diverse sectors and its potential to address evolving needs in healthcare, research, and industry.
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Heena Singh is a Senior Executive Email Marketer at BCC Research, with a master’s degree in computer applications. She specializes in content creation and data analytics.
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