Trends
PCR technologies market to reach USD 21.89B by 2030
The PCR technologies market is set to grow from USD 14.61 billion in 2024 to USD 21.89 billion by 2030, at a CAGR of 7.0%, driven by technological advancements, rising demand in diagnostics, and the growth of personalized medicine. Increasing applications in life sciences, such as genomics, disease detection, and cell analysis, alongside higher public and private investments, are key drivers. The Covid-19 pandemic accelerated market expansion with regulatory bodies like the FDA and EMA speeding up approvals for PCR technologies. Although high equipment costs challenge smaller labs, innovations such as real-time PCR, digital PCR, and point-of-care diagnostics are fostering demand. The Asia-Pacific region is poised for the highest growth due to increased healthcare investments and the expansion of precision medicine.
Recent improvements in PCR technology are, therefore, increasingly changing the industry landscape through a combination of innovative developments and regulatory shifts. A great new trend in the industry involves an increasing use of digital PCR (dPCR), ideally used in high sensitivity and accuracy in the detection and quantification of DNA or RNA at very low concentrations, making it essential in cancer diagnostics and pathogen identification. Another crucial breakthrough is multiplex PCR, which allows detecting more than one target within a single assay, which enhances the rapidity and efficiency of testing. The latest technology is the incorporation of PCR with the CRISPR technology – combining the specificity of the CRISCR-Cas systems with PCR’s amplification capability, which makes the diagnosis even more precise and sensitive. These advances, coupled with changes on the regulatory front which simplify the pathway of diagnostic device approvals, change the landscape of the market.
Based on the product segment, the PCR technologies market is segmented into – Reagents and consumables, instruments and software & services. Among them, reagents and consumables account for the largest share in the PCR technologies market. This is possible due to the increase in use of dPCR and rise in number of analytical methods associated with dPCR. Moreover, the presence of dPCR in molecular/genetic field and diagnostics is supposed to drive the growth of this market.
Based on technique, the PCR technologies market is divided into conventional PCR, real-time PCR (qPCR), digital PCR (dPCR), reverse transcription PCR (RT-PCR), hot-start PCR, multiplex PCR, and other PCR techniques. The qPCR segment holds the largest share of the market in 2023 due to numerous factors such as increasing uses of qPCR (due to its advantages over conventional PCR) and increase in funding to support life sciences research. Some of the advantages that qPCR offers compared to conventional PCR include a much wider dynamic range of quantification of target molecules, capability of allowing data gathering during the exponential phase of the reaction, thus no post-procedure processing, real-time monitoring, increasing the time efficiency several folds, and kinetics of the assay in the early stages of the reaction. MarketsandMarkets