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Market Foresight

Novel PCR Assay Technologies Gain More Acceptance

The global PCR market expected to reach USD 10.62 billion by the end of 2023, growing at a CAGR of around 6.2 percent between 2017 and 2023, according to Zion Market Research. The reagents and consumables segment is expected to dominate the PCR market. Some of the key players in the global market include Affymetrix, Agilent Technologies, Sigma Aldrich Corporation, Abbott Laboratories, Beckman Coulter, Bio-Rad Laboratories, GE Healthcare, Qiagen, Becton Dickinson and Company, and Thermo Fischer Scientific. Major players are frequently engaged in mergers and acquisitions to retain their market share and diversify their product portfolio.

North America is expected to dominate the global market due to increasing demand for fast, accurate, and affordable diagnosis in healthcare. The growth is also attributed to the presence of sophisticated diagnostics laboratories and acceptance of novel assay technologies. Europe is the second largest regional market and is expected to show significant growth in the years to come due to the rise in prevalence of infectious diseases, cancer, cardiometabolic disorders, and other disorders. Asia-Pacific is expected to show the highest growth in the coming years. This is due to increase in the geriatric population and also the growing investment in research and development by the government and private investors. In Asia-Pacific, India and China are expected to exhibit growth at a high rate.

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