Wilmington, Delaware, United States, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The polymerase chain reaction (PCR) consumables market was valued at US$ 520.5 million in 2022. The market is expected to reach US$ 754.4 million by the end of 2031, expanding at a CAGR of 4.3% from 2023 to 2031. PCR techniques can see additional advancements as technology develops. This can entail creating PCR platforms that are easier to use, more automated, and more efficient.
The use of loop-mediated isothermal amplification (LAMP) or CRISPR-based assays can occasionally replace or supplement conventional PCR. Artificial intelligence (AI) and machine learning combined with PCR data processing could improve the interpretation of results and the efficiency of research and diagnostic operations. The requirement for quick and decentralized testing is expected to fuel an increase in the demand for point-of-care (POC) diagnostics.
On-site testing in a variety of contexts, including clinics, pharmacies, and distant sites, may be made possible by the increasing prevalence of miniature PCR machines and consumables made for point-of-care (POC) applications. The overarching objectives of enhancing healthcare accessibility and responding to infectious diseases would be supported by this trend.
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The use of PCR technology is expected to become more commonplace in clinical settings, providing key components for diagnosis, monitoring, and treatment. Healthcare professionals may use PCR-based testing more frequently in their routine diagnostic procedures as PCR consumable costs drop and technology becomes more standardized. This could include things like screening for infectious diseases, detecting cancer, and tracking the effectiveness of treatment.
Key Findings of the Market Report
- Research and development investments have led to technological advancements in drug development processes and rewarding polymerase chain reaction (PCR) consumables
- As of 2022, the global market was dominated by North America.
- PCR tubes will likely drive demand for PCR consumables in the coming years.
- Intensifying demand for precision and personalized medicine propels market growth.
Global Polymerase Chain Reaction (PCR) Consumables Market: Key Players
According to recent trends in the polymerase chain reaction (PCR) consumables market, companies operating in this sector have lucrative opportunities due to advancements in drug development and disease diagnosis technologies. Companies are diversifying their product portfolios to improve their business performance by launching new products and partnering.
Key Players Profiled in the Market Study
- Bio-Rad Laboratories Inc.
- F. Hoffmann-La Roche Ltd.
- Thermo Fisher Scientific Inc.
- QIAGEN
- Merck KGaA
- Agilent Technologies, Inc.
- Eppendorf SE
- 4titude Ltd
- Corning Incorporated
- Greiner Bio-One International GmbH
Key Developments
- In January 2024, Agilent Technologies, Inc., a global company that makes lab equipment, announced a collaboration with Incyte, an oncology and hematology company. As a result, Incyte's hematology and oncology portfolio will be developed and commercialized.
Global Polymerase Chain Reaction (PCR) Consumables Market: Growth Drivers
- With genetic abnormalities, infectious diseases, and cancer on the rise, molecular diagnostics are becoming increasingly important. Consumables for PCR, such as chemicals, plates, and tubes, are essential for molecular diagnostic procedures.
- The need for PCR consumables is anticipated to increase as the healthcare sector strongly emphasizes early disease identification and personalized medication. In addition, the versatility of PCR is contributing to its acceptance in many clinical and research applications, which also drives the need for related consumables.
- PCR consumables are in high demand due to ongoing breakthroughs in life sciences research domains such as proteomics and genomics. Researchers are constantly exploring new applications and methodologies for PCR, which means high-quality consumables are needed to maintain consistency and reliability.
- The range of PCR applications has increased with the introduction of novel PCR technologies like digital PCR and quantitative PCR (qPCR), necessitating the use of specialized consumables. It is anticipated that there will be a steady demand for PCR consumables as research and development activities pick up speed.
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Global Polymerase Chain Reaction (PCR) Consumables Market: Regional Landscape
- North America is the dominant region for PCR consumables in the market. When it comes to personalized healthcare and precision medicine, North America has led the way. The need for PCR consumables is fueled by the growing emphasis on customizing medical treatments to individual features, including genetic makeup.
- PCR is an essential tool for determining genetic variants linked to illnesses and directing customized therapy regimens. PCR consumables for genotyping and gene expression analysis are anticipated to become more and more in demand as researchers and healthcare professionals in North America proceed to incorporate genetic information into patient treatment.
- With a large number of research institutes, biotech companies, and pharmaceutical corporations pushing innovation, North America is home to a thriving biotechnology and pharmaceutical industry. PCR technology is used by these companies for a variety of applications, including diagnostic tools, genetic research, and medication discovery.
- The PCR industry's research and development activities are intimately linked to the demand for high-quality PCR consumables. The market for PCR consumables is favorably impacted by the demand for dependable and effective instruments in these industries, as North America continues to be a center for biotech and pharmaceutical breakthroughs.
Global Polymerase Chain Reaction (PCR) Consumables Market: Segmentation
By Product
- PCR Tubes
- PCR Microplates
- Caps/Lids
- Others
By End User
- Research and Academic Institutes
- Clinical Diagnostic Labs and Hospitals
- Pharmaceutical and Biotechnology Companies
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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