Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSOn November 11, 2019, Bio-Rad Laboratories released its new QX One Droplet Digital polymerase chain reaction (ddPCR) system in Baltimore at the Association for Medical Pathology (AMP). The single, integrated system is designed to analyze up to 480 samples per day.
Introduction to Polymerase Chain Reaction
Polymerase chain reaction or PCR is a molecular diagnostics technique used for the amplification of DNA. In this method, millions of copies of DNA are created in a short duration after going through cycles of reactions controlled by changes in the temperature through a thermal cycler. PCR allows researchers to amplify a small amount of DNA into a much larger quantity which makes it easier for them to study the genetic sample in laboratories. This technique is commonly used in research laboratories at educational institutes, hospitals and clinics for testing the genetic material or identifying any microbial pathogen.
Market Size and Forecast
The polymerase chain reaction market is anticipated to record a significantly high CAGR over the forecast period, i.e., 2020-2028. The market is segmented by technique, by product, by application, by end user and by region, out of which, the technique segment is further segmented into standard PCR, digital PCR, real time PCR, reverse transcriptase PCR, multiplex PCR and others. The market for real time PCR (qPCR) is anticipated to hold the largest share in the polymerase chain reaction market on account of real-time process monitoring and high accuracy of results. The digital PCR (dPCR) segment is predicted to observe a substantially high growth as well, which can be attributed to the rising development of advanced and innovative dPCR equipment and reagents along with a growing demand for new research methodologies in molecular biology.
The segment for application is further segmented into clinical diagnostics, life science research, industrial applications and others, out of which, the largest share is estimated to be held by the life science research segment. This can be attributed to the growing funding by government and private institutions for promoting research activities in various countries. Moreover, the clinical diagnostics segment is anticipated to be the fastest growing segment during the forecast period as a result of rising cases of infectious diseases which require effective and better detection as well as treatment methods. CLICK TO DOWNLOAD FREE SAMPLE
Growth Drivers
Rising Demand for Early Detection of Diseases to Boost the Market Growth
Polymerase chain reaction based assays are increasingly being used for the detection of several infectious diseases. PCR technique provides faster detection with high accuracy, which is essential during cases of a disease outbreak. For instance, the newly discovered Coronavirus disease or COVID-19 does not have any known vaccines or specific treatment methods currently. On March 3, 2020, the World Health Organization reported 90,870 confirmed cases of COVID-19 globally, out of which 80,304 confirmed cases and 2,946 deaths were reported in China, the country of origin of the disease. In order to develop an effective treatment, the demand of PCR techniques is growing substantially at research laboratories all across the globe. Additionally, advancements in medical technologies in the healthcare industry is another important factor which is estimated to drive the market growth over the next few years.
Growing Demand for Personalized and Precision Medicines to Expand the Market
A large number of companies are developing genomic testing methods in order to develop personalized medicines that are custom-made for patients. They provide improved patient care and are highly precise as they target specific genes which are responsible for causing various health conditions. The development of personalized medicines requires the use of PCR technology, which is anticipated to result in a high demand for the polymerase chain reaction market in the coming years. Moreover, the growing genetic and molecular testing in research laboratories at various educational institutions and hospitals is predicted to play a significant role in expanding the market size.
Restraints
The major restraint which the polymerase chain reaction market faces is the high cost of using PCR assays for clinical testing. The availability of alternate techniques is further predicted to hamper the growth of this market. Additionally, the PCR technique is relatively new as a result of which there is a lack of skilled researchers and technicians in the market who can operate the device properly. On the back of these limitations, the polymerase chain reaction market is estimated to become restricted.
Market Segmentation
Our in-depth analysis of the polymerase chain reaction market includes the following segments:
By Technique
By Product
By Application
By End User
By Region
On the basis of regional analysis, the polymerase chain reaction market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Polymerase chain reaction market is anticipated to witness a surge in Europe as a result of growing advancements in the healthcare industry in the region. Countries such as Germany and UK are actively involved in research and development of new medical technologies and devices. The market in North America currently holds the largest share on account of presence of key players in the region. Further, the rising prevalence of chronic genetic disorders among people belonging to various age groups is another major factor estimated to impact the market growth positively.
The polymerase chain reaction market is further classified on the basis of region as follows:
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