Polymerase Chain Reaction Market Size Worth $16.2 Billion By 2027: Grand View Research, Inc.

Polymerase Chain Reaction Market Size Worth $16.2 Billion By 2027: Grand View Research, Inc.

PR Newswire

SAN FRANCISCO, Nov. 17, 2020

SAN FRANCISCO, Nov. 17, 2020 /PRNewswire/ -- The global polymerase chain reaction market size is expected to reach USD 16.2 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 17.5% from 2020 to 2027. High adoption of technology supported by the introduction of products based on polymerase chain reaction (PCR) for screening and diagnosis of infectious diseases is anticipated to drive the growth of the market. For instance, in March 2020, Bruker Corporation announced a distribution agreement with the subsidiary of Novacyt SA for the distribution of genesig real-time PCR coronavirus assay in the U.S., the U.K., Spain, France, and Germany.

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Furthermore, the COVID-19 outbreak has increased the growth rate of polymerase chain reaction technology. Several kinds of research are being conducted for proving the accuracy of the PCR test. For instance, in March 2020, researchers of the Center for Advanced Measurement Science worked with Chongqing University in collaboration with the Centers for Disease Control and Prevention (CDC) of Wuhan and Beijing for detecting the sensitivity of dPCR kits. In addition, two more studies were conducted in China that suggested improved sensitivity as compared to gold standard RT-qPCR. Moreover, in March 2020, Bio-Rad Laboratories developed a dPCR test for the detection of the SARS-CoV-2 virus.

Key suggestions from the report:

Read 161 page research report with ToßC on "Polymerase Chain Reaction Market Size, Share & Trends Analysis Report By Type, By Product (Instruments, Consumables & Reagents, Software & Services), By Application, By Region, And Segment Forecasts, 2020 – 2027" at: https://www.grandviewresearch.com/industry-analysis/polymerase-chain-reaction-market

Furthermore, an increase in collaborations for the development of software is anticipated to drive the PCR market. For instance, in October 2019, Eurofins GeneScan Technologies GmbH announced a collaboration with UgenTec for the development of assay plugins to be used in FastFinder, the company's real-time PCR analysis software platform. The partnership is expected to allow Eurofins to deploy its assays on a scale with included analysis and automated reporting of results, ensuring fast sample-to-result times required in feed, food, and seed testing.

Various research initiatives being undertaken coupled with increasing collaborations between companies for the development of tests are anticipated to drive the growth of the segment. In April 2020, Geisinger Health announced positive clinical trial data for CancerSEEK, which is a blood cancer screening test developed by the company in collaboration with John Hopkins University. Furthermore, in February 2019, Apostle, Inc. entered into an exclusive partnership with Beckman Coulter, Inc. for the development of Apostle MiniMax High-Efficiency Cell-Free DNA Isolation Kit.

The availability of a wide range of food safety assays is anticipated to boost the market growth. For instance, Thermo Scientific has developed assays such as SureTect Cronobacter Species PCR Assay, SureTect Listeria monocytogenes PCR Assay, TaqMan Candida albicans Assay, QuantStudio 5 Food Safety Real-Time PCR System, and RapidFinder Equine ID Kit. These assays detect quality indicators, spoilage organisms, and pathogens.

An increase in private and public funding support is expected to further fuel market growth. For instance, in March 2020, Biomedical Advanced Research and Development Authority funded USD 679,000 and USD 598,000 to DiaSorin Molecular, LLC, and QIAGEN LLC, respectively, to accelerate the development of Simplexa COVID-19 Direct Assay and QIAstat-Dx RPS2 test. Advancements in technology and the presence of sophisticated healthcare infrastructure are anticipated to further boost the market.

Furthermore, initiatives undertaken by government organizations to boost the adoption of the technology is anticipated to fuel market growth. For instance, in March 2020, the International Atomic Energy Agency (IAEA) announced a partnership with the Food and Agriculture Organization of the United Nations (FAO) for supporting the use of reverse transcription–PCR.

Grand View Research has segmented the global polymerase chain reaction market on the basis of type, product, application, and region:

List of Key Players of Polymerase Chain Reaction Market

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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