As Per the Report, the Size of the Asia Pacific Polymerase Chain Reaction Market is valued at USD 1.45 billion in 2022 and is estimated to be growing at a CAGR of 6.80%, reaching USD 2.02 billion by 2027 during the forecast period 2022 to 2027.
Increasing the incidence of infectious diseases and genetic disorders in babies is the vital factor that intensifies the growth of this market during the analysis period. Other factors reported to positively influence this market include the wide use of biomarkers for the diagnosis of various ante-natal disorders, large geriatric population, increasing public and private investments, supportive government initiatives, rapid technological advancements, and adoption of the new technology in PCR devices. According to World Population Prospects' latest data, one in six people will be over 65 by 2050, which will increase the disease burden.
The rapid increase in diagnostic centers and hospitals, growing levels of urbanization, and awareness and acceptance of personalized medicine are also driving the market growth. The growing demand for customized treatment has created considerable opportunities in medicine.
To gain a competitive advantage in the emerging field of medicine, biotechnology and pharmaceutical companies are exploring the various treatment and genetic testing areas aimed directly at consumers. In addition, these innovative products are helping the market by accelerating the R&D process, especially in biotechnology companies, where PCR is used extensively.
Therefore, early detection of diseases promises to provide better patient care and a high margin of safety while reducing overall healthcare costs. Hence, the PCR plays a massive role in the biomedical and medicine sectors, mainly due to the vast spread burden of infections like the COVID-19, SARS, ZIKA, and Ebola. All these factors are driving the growth of the APAC market, even in poor economic regions.
However, the increase in un-approved home tests and reimbursement issues are the limiting factors in the market's growth. Additionally, RT-PCR's accuracy and timely results would add to the challenges as these tests take time and give false-positive results under certain situations.
This research report on the Asia Pacific Polymerase Chain Reaction Market has been segmented and sub-segmented into the following categories.
By Type of Application:
Geographically, Asia Pacific is expected to grow at a significant rate due to the high incidence of chronic diseases and the several government initiatives supporting the growth of the APAC Polymerase Chain Reaction Market.
The China Polymerase Chain Reaction Market held the largest market share and is estimated to dominate the market during the period due to the increasing prevalence of genetic and chronic disorders, such as cancer, large population base, high rate of infectious diseases like CORONA, growing demand for precision medicine, presence of well-developed infrastructure, and supportive government initiatives are the major drivers for the growth of this regional market.
The India Polymerase Chain Reaction Market and Australia Polymerase Chain Reaction Market are anticipated to have CAGR due to the growing advancements in genetic engineering and genomic research in the academic and biotechnology sector's high demand for precision medicine during the forecast period.
In addition, an increased number of medical facilities and large untapped markets in developing regions would further increase market opportunities during the forecast period.
KEY MARKET PLAYERS
Top Companies leading the Asia Pacific Polymerase Chain Reaction Market Profiled in the Report are Clontech Laboratories, Beckman Coulter, Becton, Dickinson and Company, Cepheid, Maxim Biotech, Promega, Kapa Biosystems, Eppendorf, Fluidigm, PerkinElmer, bioMérieux, GE, Harvard Bioscience, RainDance Technologies, and Siemens Healthcare.,
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