Globe Newswire07.26.21
According to expert analysts and forecasters, the global PCR technologies market size, valued $6.77 billion in 2019, is expected to register a compound annual growth rate of 6.3 percent through 2027 and be worth $11.04 billion by the end of the stipulated timeframe. Rising burden of infectious diseases and increasing establishments of diagnostic centers across the globe are catalyzing the industry growth, according to Market Study Report data.
On the contrary, high manufacturing costs and prolonged time period for test results will continue to negatively impact the global PCR technologies market dynamics in the ensuing years.
For the uninitiated, polymerase chain reactions, abbreviated as PCR, is a method that can produce thousands, or millions copies of fragment of deoxyribonucleic acid (DNA), and are utilized in molecular biology, genetic studies, drug discovery, biotechnology, and clinical diagnostics. Moreover, this process also finds application in forensics to recognize suspects or identify an individual.
North America, Latin America, Europe, and Asia Pacific are the key contributors to the overall PCR technologies market growth. North America currently accounts for majority of the industry share and will showcase strong growth trends during the forecast period, largely creditable to rapid upgradation of healthcare infrastructure in the region.
Meanwhile, Asia Pacific PCR technologies market is slated to grow exponentially in the upcoming years, driven by rising awareness about gene-based diseases and growing deployment of state-of-the-art diagnostic technologies in healthcare settings.
Key players influencing global PCR technologies industry trends are Danaher Corporation, Abbott Laboratories, Biomerieux S.A., Agilent Technologies Inc., Takara Bio Inc., and Qiagen N.V., among others. These companies are focusing on R&D, new product development and its commercialization to improve their standing in this domain.
On the contrary, high manufacturing costs and prolonged time period for test results will continue to negatively impact the global PCR technologies market dynamics in the ensuing years.
For the uninitiated, polymerase chain reactions, abbreviated as PCR, is a method that can produce thousands, or millions copies of fragment of deoxyribonucleic acid (DNA), and are utilized in molecular biology, genetic studies, drug discovery, biotechnology, and clinical diagnostics. Moreover, this process also finds application in forensics to recognize suspects or identify an individual.
North America, Latin America, Europe, and Asia Pacific are the key contributors to the overall PCR technologies market growth. North America currently accounts for majority of the industry share and will showcase strong growth trends during the forecast period, largely creditable to rapid upgradation of healthcare infrastructure in the region.
Meanwhile, Asia Pacific PCR technologies market is slated to grow exponentially in the upcoming years, driven by rising awareness about gene-based diseases and growing deployment of state-of-the-art diagnostic technologies in healthcare settings.
Key players influencing global PCR technologies industry trends are Danaher Corporation, Abbott Laboratories, Biomerieux S.A., Agilent Technologies Inc., Takara Bio Inc., and Qiagen N.V., among others. These companies are focusing on R&D, new product development and its commercialization to improve their standing in this domain.