Medical Segment Application of Polymerase Chain Reaction Market to Grow at a CAGR of 1.7% During (2023– 2033), Says by Persistence Market Research Experts

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

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New York, Jan. 11, 2023 (GLOBE NEWSWIRE) -- Global Polymerase Chain Reaction Market was valued at US$ 24.4 Bn in 2021 and is expected to reach US$ 29.7 Bn by 2032, finds Persistence Market Research in a recent market survey. As per the findings of the report medical segment by the application will remain pivotal for the market as the bulk of revenue will be generated through this category.

It is projected that the medical segment by the application will account for a CAGR of 1.7% in 2032. The growing cases of infectious diseases worldwide is the key factor in the high demand for Polymerase Chain Reactions.

The US to Command the Larger Proportion of the Polymerase Chain Reaction Market throughout the Analysis Period

USA commands 32% of the market share and is expected to keep that position intact with an absolute dollar opportunity of US$ 1.5 Bn to reach a valuation of US$ 9.4 Bn by 2032. Owing to the rapidly increasing requirement for a polymerase chain reaction in the diagnosis of malaria, HIV-AIDS, and cancer, its demand in the USA is expected to increase. A nearly 49% increase in the total number of the cancer patient is estimated by 2050 in the U.S.

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Polymerase Chain Reaction Market: Competition Insights

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.

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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.

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More Insights Available

Persistence Market Research, in its new offering, presents an unbiased analysis of the Polymerase Chain Reaction Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in the Polymerase Chain Reaction Market in terms of Application (Medical and Non-Medical), Product Type (Consumables & Reagents, Instruments, and Software & Services), and Type (Conventional PCR and Other Types) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

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