PCR Test Market: Current Analysis and Forecast (2022-2030)
Emphasis on Type (Standard PCR, Real-Time PCR, Digital PCR, and Others); Product (Instruments, Reagents & Consumables, and Software & Services); Indication (Infectious Diseases, Oncology, and Genetic Disorders); End-User (Hospitals & Clinics, Pharmaceuticals & Biotechnology Industries, Diagnostics Centers, and Others); and Region/Country
The PCR test market was vakued at 20 Bn in 2021 and is expected to grow at a strong CAGR of around 7% during the forecast period (2022-2030). The PCR (polymerase chain reaction) test market is a rapidly growing market for molecular diagnostic testing. PCR tests are used to detect the presence of genetic material from a specific pathogen, such as a virus or bacteria. The increasing incidence of infectious diseases, rising demand for point-of-care testing, and growing research and development activities in the field of molecular diagnostics are among the major reasons for the market growth of the PCR test. For instance, in July 2021, QuantuMDx launched the Q-POC rapid PCR point-of-care diagnostic system in the UK. Q-POC is a portable PCR system that compresses an entire molecular diagnostics lab into a single easy-to-use, accessible, and affordable device, enabling rapid point-of-care molecular diagnostic testing in approximately 30 minutes.
Some of the major players operating in the market include Abbott.; Agilent Technologies, Inc.; BIOMÉRIEUX; Bio-Rad Laboratories, Inc.; F. Hoffmann-La Roche Ltd.; QIAGEN; GenMark Diagnostics, Inc.; Thermo Fisher Scientific Inc.; General Electric; and Danaher Company Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, the digital PCR segment is expected to grow with the highest CAGR during the forecast period.”
Based on type, the market is segmented into standard PCR, real-time PCR, digital PCR, and others. The digital PCR segment is expected to grow with the highest CAGR during the forecast period. Digital PCR (dPCR) is a newer technology in the PCR (polymerase chain reaction) test market that has gained attention for its high sensitivity and precision in detecting low levels of nucleic acid targets. Due to the advanced technology, and high precision, the market for digital PCR is expected to rapidly growth during the forecast period.
“Amongst products, the software & services segment is expected to witness the fastest growth during the forecast period.”
Based on the product, the market is segmented into instruments, reagents & consumables, and software & services. The software & services segment is expected to witness the fastest growth during the forecast period. The demand for software and services in the PCR test market is due to the factors like the increasing volume of data generated by PCR tests, the need for efficient data analysis and interpretation, and the growing trend toward automation and digitization of laboratory workflows. In addition, the COVID-19 pandemic has increased demand for software and services that can facilitate rapid and efficient PCR testing, result interpretation, and data management.
“Amongst indication, the oncology segment held the dominant share in 2021.”
Based on the indication, the market is segmented into infectious diseases, oncology, and genetic disorders. The oncology segment held the dominant share in 2021. The rising prevalence of cancerous diseases is the primary factor for the segmental growth of oncology. For instance, according to the World Health Organisation (WHO), cancer is the primary cause of death worldwide accounting for 10 million deaths in 2020.
“Asia Pacific is expected to grow with the highest CAGR PCR test market during the forecast period.”
Asia Pacific is expected to grow with the highest CAGR PCR test market during the forecast period. The growth of the market is driven by increasing investment in healthcare infrastructure, rising demand for molecular diagnostic testing, increasing healthcare expenditure, and growing awareness of the benefits of PCR testing in disease diagnosis and management. For instance, the per-capita healthcare expenditure of India increased by 45% from 2011 to 2019 and reached USD 211 in 2019.
PCR test Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global PCR test market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the PCR Test Market Analysis (2022-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global PCR test market were the three major steps undertaken to create and analyze the adoption of PCR test in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of global PCR test market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the PCR test market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the PCR test market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, product, indication, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the PCR test market. Further, we conducted factor analysis using dependent and independent variables such as type, product, indication, and end-user of the PCR test market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the PCR test market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global PCR test market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of PCR test market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global PCR test market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global PCR test market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the type, product, indication, and end-user in the global PCR test market.
The main objective of the Global PCR test Market Study
The current & future market trends of global PCR test market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the PCR test market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type, product, indication, and end-user.
- Define and analysis of the regulatory framework for the PCR test industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the PCR test market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the PCR test market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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