According to FutureWise analysis the market for polymerase chain reaction in 2023 is US$ 8.78 billion, and is expected to reach US$ 18.44 billion by 2031 at a CAGR of 9.7%.
Polymerase chain reaction method is widely used for diagnosing cancer, infectious diseases, in identifying target therapies as per the disease condition and personalized medicine. These are some of the factors contributing to the polymerase chain reaction market growth. This method is quite precise in obtaining results which is why technologies like qPCR and dPCR are highly preferred as they also have advantages like lesser consumption of reagents, workflow automation, real-time process monitoring, etc. Increased incidences of infectious diseases, rising geriatric population, soaring number of hospitals and diagnostic centres and rising adoption of personalised medicine are some driving factors propelling the market growth. With the current COVID-19 pandemic, the importance of polymerase chain reaction has increased tenfold. Reverse Transcription Polymerase Chain Reaction i.e. RT-PCR has been widely used for conducting SARS COV-2 tests. Populous countries like India are unable to carry large-scale tests and this issue can be addressed by conducting pool sample testing. Sample pooling enables the test to be conducted in batches and when the pool is tested positive, the individual samples are assessed. Researchers from IIT Mumbai have developed an algorithm based on combinatorics which identifies which individual samples from a sample pool are positive. Such ventures shall boost the proliferation of the market. However, the dPCR instruments are expensive and there are some fundamental limitations in the qPCR and dPCR technologies shall impede the proliferation of the market.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Polymerase Chain Reaction Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Polymerase Chain Reaction Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.