Connect with us

Market Foresight

Molecular diagnostics industry drives PCR consumables

The global polymerase chain reaction (PCR) consumables market was valued at USD 434 million in 2017 and is projected to expand at a CAGR of 4.8 percent from 2018 to 2026, predicts Transparency Market Research. Increase in use of PCR consumables in quantification of plant mutations and genetically modified organisms, assessment of bacterial and viral loads and absolute pathogen counts, quantification of NGS libraries, and detection of cancer in body fluid and stool DNA are likely to drive the market.

The molecular diagnostic industry has emerged as a major driver of development in PCR technology-based amplification techniques. The demand for greater efficiency and productivity in the pharmaceuticals industry has led to the growth of the market. PCR technologies have been used to identify and analyze potential drug targets due to the introduction of personalized medicine. Other major factors driving the PCR consumables market include enhanced automation, rise in demand for analysis technologies, research-intensive investment by various biotechnological companies, and wider application areas of PCR technologies.

In terms of product, the PCR tubes segment is anticipated to have a high share due to high adoption of PCR tubes in research and academic institutes as well as clinical diagnostic laboratories and hospitals. The research and academic institutes segment is expected to account for a leading share of the market by 2026. PCR has become a functional tool in the mainstream life sciences and chemistry disciplines. Its applications range from molecular genetics to microbiology assays and are expanding beyond traditional areas. The clinical diagnostic labs and hospitals segment accounted for over 24.3 percent market share in 2017. The combination of exceptional specificity and sensitivity, low contamination risk, and low detection time has made PCR technology a better alternative to culture- or immunoassay-based testing methods for diagnosing various infectious diseases.

Copyright © 2024 Medical Buyer

error: Content is protected !!