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Polymerase Chain Reaction Market

Market Study on Polymerase Chain Reaction: Surge in infectious diseases to be pivotal towards the growth of polymerase chain reaction market

Polymerase Chain Reaction Market by Product Type - Consumables & Reagents | Instruments | Software & Services

Polymerase Chain Reaction Market Outlook (2022-2032)

The Polymerase Chain Reaction market was valued at around US$ 24.4 Bn in 2021. With a projected CAGR of 1.6% for the next ten years, the market is likely to reach a valuation of US$ 29.7 Bn by the end of 2032. The recent surge in demand for RT-PCR Testing has triggered the demand for Polymerase Chain Reactions.

Attributes

Details

Polymerase Chain Reaction Market Size (2022E)

US$ 24.7 Bn

Projected Market Value (2032F)

US$ 29.7 Bn

Global Market Growth Rate (2022-2032)

1.6% CAGR

North America Market Share (2021)

>35%

Key Companies Profiled

  • Abbott
  • Thermo Fisher Scientific Inc.
  • F. Hoffmann- La Roche Ltd.
  • Bio-Rad Laboratories Inc.
  • QIAGEN N.V.
  • bioMérieux SA
  • Standard BioTools Inc.
  • Sysmex Inostics
  • Eppendorf AG
  • Danaher Corporation
  • Cytiva
  • Stilla Technologies
  • Microsynth AG
  • MatMaCorp
  • JN Medsys
  • PCR Biosystems
  • Becton Dickinson & Company
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Sales Analysis of Polymerase Chain Reaction from 2017 to 2021 Vs Market Outlook for 2022 to 2032

The global market for Polymerase Chain Reactions expanded at a CAGR of 1.5% during 2017-2021. The market growth is projected to be augmented due to the expedited requirement for the RT-PCR tests opening better avenues for key market players in the forthcoming years. The Global Polymerase Chain Reaction market is predicted to surge ahead at a CAGR of 1.6% and record sales worth US$ 29.7 Bn by the end of 2032. The US will continue to be the largest market throughout the analysis period accounting for over US$ 1.5 Bn absolute dollar opportunity in the coming 10-year epoch.

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Which factors are propelling the Polymerase Chain Reaction demand during the forthcoming years?

Among the many attributes driving the growth of the Polymerase Chain Reaction demand is the gradual deviation from the real-time diagnosis techniques to the better and more effective digital diagnosis approach significant in diagnosing numerous diseases. A 2020 survey, brought to light the fact that as many as 300 Mn people around the globe suffer from numerous rare genetic disorders.

Apart from genetic disorders and the COVID-19 virus, Polymerase chain reaction testing also finds applications in the testing of cancer, and numerous infectious diseases, including malaria, pneumonia, and tuberculosis. According to the WHO 2021 Malaria Report, globally the volume of malaria cases has shot up from 227 Mn in 2019 to 241 Mn in 2021.

Another article published by the World Health Organization in November 2021 states Pneumonia is the single largest infectious cause of death among children around the globe. The disease was responsible for about 14% of the total deaths of children below the age of 5. These factors are forecasted to propel the growth of the Polymerase Chain Reaction Market during the forthcoming years.

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Region-wise Insights

Why does Asia-Pacific Stand as the Most Lucrative Market for Polymerase Chain Reaction Market?

The Polymerase Chain Reaction Market in Asia-Pacific is envisioned to be highly lucrative in the forthcoming years. In June 2020, the SARS-CoV-2 RNA RT-PCR test was launched by Singapore-based Lucene Diagnostics in order to aid the diagnosis of infections related to COVID-19. It is anticipated that the total number of cancer patients in India will rise to 1.57 Mn by 2025, aiding the requirement for Polymerase Chain Reaction in cancer testing, subsequently being advantageous to the Polymerase Chain Reaction Market in the Asia-Pacific region.

According to World Health Organization estimates, India has as many as 15 Mn malaria cases with approximately 19,500 - 20,000 annual deaths. With the benefit of a sensitive and specific diagnosis in malaria patients, these rising cases are forecasted to further the requirement for Polymerase Chain Reactions in the country and subsequently the region during the 10-year epoch.

As of May 2022, officials in the central province of Henan in China have set a plan in motion to make it obligatory for its 99 Mn residents to take a daily government-organized PCR test starting in June. Even the prominent cities of Beijing and Shanghai have made it compulsory for the residents to show a negative PCR Test for riding the subway or going to a public avenue. Government initiatives like this are anticipated to be advantageous for the Polymerase Chain Reaction Market in China to reach a total market valuation of US$ 2.7 Bn by the end of 2032.

How is the Polymerase Chain Reaction Market in North America Shaping Up?

The Polymerase Chain Reaction Market in North America is anticipated to retain its market share of more than 35% in the forthcoming years. This can be attributed to the increasing requirement for Polymerase Chain Reaction Testing in the diagnosis of contagious diseases along with its need during the COVID-19 pandemic.

Additionally, North America is also benefitted from the surge in the cases of Lyme disease in the region. Lyme disease is the most common vector-borne disease in the U.S., with as many as 30,000 cases reported annually to the Centers for Disease Control and Prevention (CDC) by various U.S. state health departments. The Polymerase Chain Reaction market in North America is estimated to be benefitted by these rising cases since Polymerase Chain reaction finds extensive requirements in the laboratory diagnosis of Lyme disease.

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Country-wise Insights

U.S. Polymerase Chain Reaction Market Analysis

In the forthcoming years, it is expected that the Polymerase Chain Reaction Market in the U.S. will grow at a 1.7% CAGR during the forecast period, to witness an absolute dollar opportunity of US$ 1.5 Bn. The market in the country is expected to reach a market valuation of US$ 9.4 Bn.

The Polymerase Chain Reaction Market is benefitted from its requirement in DNA profiling to aid with the cataloging of criminals. Incidents of reported Tuberculosis (cases per 100,000 persons) have risen by 9.4% from 2020 to 2021 as stated in a recent article published by the National Institute of Health. A 2021 CDC report also predicted the annual number of cancer patients to rise by 49% from 2015 to 2050. Polymerase Chain Reaction finds extensive use in the diagnosis of cancer, hence this rise is predicted to be advantageous to the role of the U.S. region in the Global Polymerase Chain Reaction Demand. As of 2021, there are approximately more than 1.2 Mn patients of HIV-AIDS in the U.S., with as many as 35,000 new cases each year. Polymerase Chain Reaction testing is used for the detection of HIV infection, and rising cases are anticipated to be advantageous to the Polymerase Chain Reaction Market in the U.S.

U.K. Polymerase Chain Reaction Market Analysis

The market in the U.K. is expected to reach a valuation of US$ 1.1 Bn by 2032. Growing at a CAGR of 1.7%, the market is expected to gross an absolute dollar opportunity of US$ 169 Mn during the forecast period.

Japan Polymerase Chain Reaction Market Analysis

In Japan, the market is expected to garner an absolute dollar opportunity of US$ 248 Mn during 2022 – 2032. Growing at a CAGR of 2%, the market in the country is expected to reach a valuation of 1.4 Bn by 2032.

South Korea Polymerase Chain Reaction Market Analysis

The market in South Korea is expected to reach US$ 692 Mn by 2032, growing at a CAGR of 1.9% during 2022 – 2032. The market in the country during the forecast period is expected to gross an absolute dollar opportunity of US$ 116 Mn.

Category-wise Insights

How has the Increasing Use of Consumables & Reagents Impacted the Polymerase Chain Reaction Market?

The Consumables & Reagents segment of the Polymerase Chain Reaction Market is envisioned to see a growth of 1.7% during 2022 - 2032. This growth can be attributed to the growing volume of diagnostic testing and the development of test-specific new reagents.

Moreover, the consumables & reagents segment is expected to be benefitted from the unprecedented rise in the requirement for RT-PCR testing, consequently propelling the growth of the Polymerase Chain Reaction Market.

How is Polymerase Chain Reaction Demand Expected to Perform with their Growing Necessity in the Medical Segment?

Market revenue through the Medical application of the Polymerase Chain Reaction Market is expected to grow at a CAGR of 1.7% during the 10-year forecast period. This is attributed to the increased requirement of Polymerase Chain Reactions in forensics because of DNA fingerprinting. The requirement for Polymerase Chain Reaction in the medical segment is further benefitted from their increased usage in various clinics and diagnostic centers across the world due to their comparative benefit in the apt diagnosis of infectious diseases, HIV-AIDS, and cancer.

According to WHO, as of 2020, cancer is the leading cause of death around the globe, accounting for as many as 10 Mn deaths. Another report from the World Cancer Research Fund documents around 18.1 Mn cancer patients globally. By 2040, this number is estimated to increase to 27.5 Mn new cancer cases, along with 16.3 Mn deaths as per the American Cancer Society. This is forecasted to augment the growth of Polymerase Chain Reaction Market during the forecast period.

Competitive Analysis

Abbott, Thermo Fisher Scientific Inc., F. Hoffmann- La Roche Ltd., Bio-Rad Laboratories Inc., QIAGEN N.V., bioMérieux SA, Standard BioTools Inc. (Fluidigm), Sysmex Inostics, Eppendorf AG, Danaher Corporation, Cytiva, Stilla Technologies, MatMaCorp, JN Medsys, PCR Biosystems, Becton Dickinson & Company (BD), and Microsynth AG are among the key players worldwide driving the competitive landscape of the market.

Some of the recent developments in the market include:

  • In July 2021, Stilla Technologies launched 6-Color Digital PCR Access Program. This program is apt for high multiplexing and detection abilities related to the study of cell & gene therapy, cancer, and other infectious diseases along with COVID-19 research. This is projected to further aid the company’s product portfolio.
  • In May 2021, a one-of-a-kind handheld PCR device MYRTA entered the market. This device is developed by MatMaCorp to aid in real-time detection.
  • In April 2021, Reliance SARS-CoV-2 RT-PCR Assay was initiated by Bio-Rad Laboratories Inc. in Europe in order to clinically diagnose the Coronavirus.
  • In March 2021, QuantStudio 5 Dx RT-PCR System was launched by Thermo Fisher Scientific Inc. in order to aid in both laboratory use and assay development. It was aimed to assist in meeting the increasing requirement for PCR Systems around the world.
  • In March 2021, the launch of IsoFast Bst Polymerase Reagents, aiding the responsive, potent and swift augmentation of RNA and DNA, subsequently enabling the rapid testing processes, was announced by PCR Biosystems.
  • In January 2021, Mesa Biotech Inc., a company working in molecular diagnostics, was acquired by Thermo Fisher Scientific Inc., for US$ 450 Mn to aid with the expansion of its product portfolio.

Key Segments Covered in Market Survey

By Type

  • Conventional PCR
  • Other Types

By Product Type

  • Consumables & Reagents
  • Instruments
  • Software & Services

By Application

  • Medical
    • Clinical
    • Research
    • Forensic and others
  • Non-Medical
    • Food
    • Other Non-Medicals

By Region

  • North America
    • The US
    • Canada
  • The Asia Pacific
    • China
    • Japan
    • South Korea
    • India
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
  • The Middle East and Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Nigeria
    • Egypt
  • Latin America
    • Mexico
    • Brazil
    • Argentina
    • Colombia

- Companies Covered in This Report -

  • Abbott
  • Thermo Fisher Scientific Inc.
  • F. Hoffmann- La Roche Ltd.
  • Bio-Rad Laboratories Inc.
  • QIAGEN N.V.
  • bioMérieux SA
  • Standard BioTools Inc.
  • Sysmex Inostics
  • Eppendorf AG
  • Danaher Corporation
  • Cytiva
  • Stilla Technologies
  • Microsynth AG
  • MatMaCorp
  • JN Medsys
  • PCR Biosystems

- Frequently Asked Questions -

The Polymerase Chain Reaction market was valued at US$ 24.4 Bn in 2021.

The Polymerase Chain Reaction industry is set to witness a growth rate of 1.6% over the forecast period and be valued at US$ 29.7 Bn by 2032.

Abbott, Thermo Fisher Scientific Inc., F. Hoffmann- La Roche Ltd., Bio-Rad Laboratories Inc., QIAGEN N.V., bioMérieux SA, Standard BioTools Inc. (Fluidigm), Sysmex Inostics, Eppendorf AG, Danaher Corporation, Cytiva, Stilla Technologies, MatMaCorp, JN Medsys, PCR Biosystems, Becton Dickinson & Company (BD), and Microsynth AG are the key players shaping the Polymerase Chain Reaction Industry.

The preference for RT-PCR testing is consistently increasing and along with the growing cases of infectious diseases is anticipated to favorably impact the global demand for polymerase chain reactions over the forecast period till 2032.

The market in the US is expected to reach a valuation of US$ 9.4 Bn during the forecast period along with a CAGR of 1.7%

The Asia Pacific market is expected to grow significantly during the forecast period mainly due to the rising cases of infectious diseases, especially in India.

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