Infoholics reports growth for polymerase chain reaction market

The global polymerase chain reaction (PRC) market is estimated to witness a compound annual growth rate (CAGR) of 9.91% during the forecast period 2017-2023.

Continuous technology advancements are making it more efficient and user-friendly, but the high cost of the instruments, servicing contracts, and reagents pose major challenges for the market, especially to the price-sensitive academics. Currently, the market players are involved in enhancing the capabilities of the PCR systems, and increasing its specificity and sensitivity.

The increasing use of PCR in genetic and molecular analysis, the advent of digital PCR technology are the key factors driving the market. The high cost of the instrument, dearth of skilled labours, competing technologies, such as NGS and micro-array and stringent government regulations are factors restricting the market growth.

The application of PCR is predominant in clinical diagnostics, life sciences, and others. The life sciences segment holds the largest share in the market. But the market for clinical diagnostics is expected to grow rapidly due to the increasing adoption of PCR systems for the diagnosis of diseases. The market is also witnessing various mergers, acquisitions, and collaborations among the top players, which is defining the future of the global polymerase chain reaction market.

The end-users of PCR are hospitals, pharmaceutical & biotechnological companies, academics, and others. Academics held a large market share in the PCR market in 2016. The demand for precise diagnosis of chronic diseases has increased in hospitals and diagnostic laboratories, which, in turn, will increase the growth rate of the global PCR market.

At present, the reagents and consumables are dominating the global polymerase chain reaction market. A lot of new players are focusing on developing real-time PCR instruments and reagents to gain future business opportunities. Major players in the market are involved in acquiring small players with advanced technology products to maintain leadership. For instance, Merck KGaA acquired Sigma-Aldrich Corporation, a multinational biotechnology company, making them one of the major players in the PCR reagents market. In January 2017, Bio-Rad entered into an agreement to acquire RainDance Technologies to strengthen the digital PCR and liquid biopsy segments of the company.