Polymerase Chain Reaction Market size is expected to be worth USD 36,090.3million in 2022, growing at a high CAGR of 5.3% from 2022 to 2028 to reach USD 49,199.5 million by 2028. The polymerase chain reaction (PCR) is a technique for amplifying DNA sequences in the lab. The process includes selecting the part of the genome to be amplified using short DNA sequences called primers. To aid a DNA replication enzyme in copying the target DNA sequence, the temperature of the sample is increased and dropped repeatedly. In just a few hours, the process can manufacture a billion duplicates of the target sequence. In 2021, instruments had a market revenue share of 27.2%, and from 2022 to 2028, it is predicted to increase at a CAGR of 5.7%. PCR plays a critical role in the treatment of patients with COVID-19. Clinical diagnostics labs have a market share of 45.7% by end-user segment and are expected to increase at a CAGR of xx % in the future years. Increased application in clinical diagnostics, increased demand for customised and precision medicine, and technological breakthroughs and applications in drug development are driving the Polymerase Chain Reaction market. Increasing demand for personalised and precision medicine has resulted in a paradigm shift in drug discovery, personalised medicine, forensic sciences, and clinical research and development in the biotechnology industry, due to technological advancements in molecular biology, life sciences, and biotechnology. However, the emergence of alternative technologies and the high cost of instruments hamper the Polymerase Chain Reaction market.
In June 2021, Thermo Fisher Scientific Inc. launched TaqPath, a new CE-IVD-marked fast PCR combo kit 2.0 to detect active SARS-CoV-2 infection.