PCR and Realtime PCR Testing Global Market Opportunities and Strategies to 2033

This report describes and explains the PCR and realtime PCR testing market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global PCR and realtime PCR testing market reached a value of nearly $10.1 billion in 2023, having declined at a compound annual growth rate (CAGR) of -1.33% since 2018. The market is expected to grow from $10.1 billion in 2023 to $14.3 billion in 2028 at a rate of 7.18%. The market is then expected to grow at a CAGR of 7.75% from 2028 and reach $20.8 billion in 2033.

Growth in the historic period resulted from surge in healthcare expenditure, rapid rise in various bacterial and viral epidemics and emerging markets growth. Factors that negatively affected growth in the historic period was lack of skilled labor.

Going forward, the increasing research and development activities, increase in healthcare access and rising incidences of chronic diseases will drive the growth. Factor that could hinder the growth of the PCR and realtime PCR testing market in the future include supply chain disruptions.

The PCR and realtime PCR testing market is segmented by product into consumables and reagents, instruments, software. The consumables and reagents market was the largest segment of the PCR and realtime PCR testing market segmented by product, accounting for 61.10% or $6.2 billion of the total in 2023. Going forward, the software segment is expected to be the fastest growing segment in the PCR and realtime PCR testing market segmented by product, at a CAGR of 8.28% during 2023-2028.

The PCR and realtime PCR testing market is segmented by technology into quantitative polymerase chain reaction (qPCR), digital polymerase chain reaction (dPCR) and end-point (standard PCR). The quantitative polymerase chain reaction (qPCR) market was the largest segment of the PCR and realtime PCR testing market segmented by technology, accounting for 75.42% or $7.6 billion of the total in 2023. Going forward, the digital polymerase chain reaction (dPCR) segment is expected to be the fastest growing segment in the PCR and realtime PCR testing market segmented by technology, at a CAGR of 9.38% during 2023-2028.

The PCR and realtime PCR testing market is segmented by application into clinical diagnostics, life science research, industrial applications and other applications. The clinical diagnostics market was the largest segment of the PCR and realtime PCR testing market segmented by applications, accounting for 54.43% or $5.5 billion of the total in 2023. Going forward, the clinical diagnostics segment is expected to be the fastest growing segment in the PCR and realtime PCR testing market segmented by applications, at a CAGR of 7.48% during 2023-2028.

The PCR and realtime PCR testing market is segmented by end user into academic and research institutes, pharmaceutical and biotechnology companies, clinical diagnostics labs and hospitals and other end-users. The clinical diagnostics labs and hospitals market was the largest segment of the PCR and realtime PCR testing market segmented by end user, accounting for 47.59% or $4.8 billion of the total in 2023. Going forward, the clinical diagnostics labs and hospitals segment is expected to be the fastest growing segment in the PCR and realtime PCR testing market segmented by end user, at a CAGR of 7.73% during 2023-2028.

North America was the largest region in the PCR and realtime PCR testing market, accounting for 38.78% or $3.9 billion of the total in 2023. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the PCR and realtime PCR testing market will be Asia Pacific and Western Europe where growth will be at CAGRs of 8.76% and 7.59% respectively. These will be followed by South America and North America where the markets are expected to grow at CAGRs of 7.04% and 6.61% respectively.

The global PCR and realtime PCR testing market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 20.17% of the total market in 2022. F. Hoffmann-La Roche Ltd. was the largest competitor with a 5.75% share of the market, followed by Danaher Corporation with 3.23%, General Electric Company with 2.84%, Becton Dickinson and Company with 1.94%, Eurofins Scientific SE with 1.38%, Thermo Fisher Scientific Inc. with 1.22%, bioMérieux SA with 1.16%, Bio-Rad Laboratories Inc. with 1.12%, Abbott Laboratories Ltd. with 0.82% and Takara Bio Inc. with 0.71%.

The top opportunities in the PCR and realtime PCR testing market segmented by product will arise in the consumablesand reagents segment, which will gain $2.6 billion of global annual sales by 2028. The top opportunities in the PCR and realtime PCR testing market segmented by technology will arise in the quantitative polymerase chain reaction (qPCR) segment, which will gain $3.2 billion of global annual sales by 2028. The top opportunities in the PCR and realtime PCR testing market segmented by application will arise in the clinical diagnostics segment, which will gain $2.4 billion of global annual sales by 2028. The top opportunities in the PCR and realtime PCR testing market segmented by end user will arise in the clinical diagnostics labs and hospitals segment, which will gain $2.2 billion of global annual sales by 2028. The PCR and realtime PCR testing market size will gain the most in the USA at $1.4 billion.

Market-trend-based strategies for the PCR and realtime PCR testing market include focus on launch of innovative solutions for diverse healthcare needs, focus on investment initiatives driving innovation in point-of-care PCR testing, focus on strategic collaborations and partnerships among market players, focus on advanced RT PCR diagnostic kits for improved diagnosis and focus on introduction of real-time PCR kits for the reliable detection of target allergen sequences.

Player-adopted strategies in the PCR and realtime PCR testing market include focus on enhancing operational capabilities through new product launches and focus on expanding diagnostics segment through strategic partnerships.

To take advantage of the opportunities, the analyst recommends the PCR and realtime PCR testing companies to focus on innovative cancer mutation detection solutions, focus on strategic investments in innovative point-of-care PCR tests, focus on innovative RT-PCR diagnostic solutions, focus on advanced real-time PCR allergen detection kits, focus on digital polymerase chain reaction (DPCR) and quantitative polymerase chain reaction (QPCR) segments, expand in emerging markets, continue to focus on developed markets, focus on strategic collaborations, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions, focus on clinical diagnostics and life science research segments and focus on clinical diagnostics labs and hospitals and pharmaceutical and biotechnology segments.