The Global Polymerase Chain Reaction Market was valued at $6.3 Billion in 2020. Growing at a high CAGR of more than 12.5% between 2021 and 2031, it is estimated to reach $30.2 Billion by 2031. But, the current pandemic of COVID-19 might make a slight difference in the current year's growth rate. Polymerase chain reaction refers to a molecular diagnostic technique use to make multiple copies of the DNA segment. Increasing demand for prenatal genetic testing procedures, advanced diagnostic techniques, and the rising number of CROs and forensic and research laboratories drives the market growth during the forecast period. The growing prevalence of genetic and chronic disorders, such as the aging population, cancer, rising demand for personalized medicine and precision, and favorable government initiatives, are the primary factors driving the market growth. Now, moving forward, the robust demand for the Global Polymerase Chain Reaction Market in the polymerase department is further estimated to create new necessities and augment the market of growth over the forecast period of 2021-2031.
Global Polymerase Chain Reaction Segment Is Estimated to Witness Remarkable Growth
Source: SAI Research
The Polymerase Chain Reaction Market is segmented as type, product, and application. Based on Type, the global polymerase chain reaction market is divided into Conventional PCR and Others. Based on the product, the global polymerase chain reaction market has been bifurcated as Consumables & Reagents, Instruments, and Software & Services. Based on application, the global polymerase chain reaction market has been segmented as Medical, Clinical, Pathogen Testing, Oncology testing, Blood Screening, Others, Research, Forensic and others, Non-Medical, Food, and Others.
By Region, North America is Holding the Major Market Share
The Polymerase Chain Reaction Market has been geographically segmented into North America, Asia Pacific, Latin America, Middle East, and Africa region. In addition to this, North America has a significant share among those regions. The increasing PCR demand for food safety is expecting to drive the market over the region. Apart from that, favorable rules and regulations, Government initiatives, and growing investment in the PCR sector are factors for market growth. Apart from that, the Asia Pacific and the Rest of the regions are expected to increase the growth rate in the upcoming forecast period of 2021 to 2031.
Major Players in the Global Polymerase Chain Reaction Market
The report covers a detailed outlook about the company, and it includes the company or industry profiles and market share of key players operating in the global market. Key players in the report include Abbott Laboratories, Agilent Technologies Inc., Becton, Dickinson and Company, bioMerieux SA, Bio-Rad Laboratories Inc., GE Healthcare, Merck KGaA, PerkinElmer Inc., Promega Corporation, Siemens Healthcare, Thermo Fisher Scientific Inc., Qiagen, F. Hoffmann-La Roche Ltd, Fluidigm Corporation, and Harvard Bioscience among others.
The Global Polymerase Chain Reaction Market Has Been Segmented into:
Global Polymerase Chain Reaction Market: By Type
Global Polymerase Chain Reaction Market: By Product
Global Polymerase Chain Reaction Market: By Application
Global Polymerase Chain Reaction Market: By Region