The global PCR market is expected to reach USD 9.6 billion by 2020, predicts Transparency Market Research. The rising demand for highly advanced molecular diagnostic techniques to detect severe diseases accurately is the key factor behind the remarkable growth of the PCR market in the global arena.
With significant increase in funding and grants offered by various global bodies to develop new solutions in different fields, the market for PCR solutions, including instruments and consumables, will have a positive impact in the coming years.
In the recent years, many manufacturers of PCR solutions have either established or have expanded their current manufacturing and sales networks in APAC. The APAC region has a rising geriatric population, which will translate into increasing incidences of chronic diseases like cancer, and PCR is extensively used to study and analyze gene anomalies and mutations associated with such diseases. Moreover, the vendors are migrating their manufacturing facilities to APAC as it is not only economical in terms of operations but also gives them access to the domestic markets in the region.
The global PCR market is widely diversified owing to the presence of many international and regional players. This market is anticipated to grow steadily due to the increasing applications of PCR testing in the field of medical diagnosis and forensic sciences. Currently, the market is dominated by vendors such as Abbott Laboratories, Agilent Technologies, Bio-Rad Laboratories, GE Healthcare, and Thermo Fisher Scientific. The vendors in the market are focusing on product development with new features to meet the changing demands of end users.
During 2016, the PCR consumables segment held more than 60 percent of the total market share, and will continue to dominate the market in coming years. PCR consumables segment comprises enzymes, reaction buffers, primers, and reagent kits, which are used in all types of polymerase chain reactions including standard PCR, qPCR, and dPCR. Moreover, carrying out PCR requires the repeated and abundant use of consumables such as reagents and buffers to conduct tests and experiments. With technological advancements in reaction buffers, most reagents and enzymes have greater stability and enhanced activity resulting in the enhanced value of PCR and RT-PCR techniques.
In terms of geography, the Americas dominated the market and the region is expected to hold close to 53 percent of the market's revenue shares. The US is one of the highest revenue contributors to this market as the country is home to a large number of pharmaceutical companies that use PCR testing for disease diagnosis and new drug development. Moreover, factors such as an increase in public and private funding and significant financial aid from various global agencies and federal institutions to develop advanced and futuristic qPCR and dPCR solutions will create a favorable environment for the growth of this market in the Americas.