At 8.0% CAGR, Europe PCR Technologies Market is Projected to be Worth US$ 7,173.73 Million by 2030, says Business Market Insights

According to Business Market Insights research, the Europe PCR technologies market was valued at US$ 3,880.13 million in 2022 and is expected to reach US$ 7,173.73 million by 2030, registering a CAGR of 8.0% from 2022 to 2030. Rising prevalence of genetic and infectious diseases and surging investments and funds availability for PCR technologies are among the critical factors attributed to the Europe PCR technologies market expansion.

Government and federal agencies worldwide recognize the role of quantitative polymerase chain reaction (qPCR) and dPCR products in genome-based research. In 2021, the multiplex digital PCR startup Stilla Technologies raised US$ 34 million (31.3 million) through the issuance of US$ 12.25 million (11.3 million) in convertible bonds and US$ 21.7 million (20 million) in loan funding. Apart from new funding provided by current backers Illumina Ventures, Kurma Partners, TusPark Capital Management, LBO France, BNP Paribas Developpement, and Eurazeo, Stilla has also drawn investments from the European Investment Bank (EIB) and eminent life science company Casdin Capital. Some companies have also increased their research and development funds for the enhancement of gene synthesis. In 2021, Camena Bioscience, a synthetic biology startup that supplies genes to the biotechnology and pharmaceutical sectors, completed a US$ 10 million Series A funding round headed by Mercia. With the additional funds, the company expanded its operations and continued the development of its ground-breaking DNA synthesis platform-gSynth. The technology platform and other related resources help the company accelerate the development of gene synthesis. Therefore, the increasing availability of financial support for research and development in disease-specific genomics propels the demand for PCR technologies.

On the contrary, high costs of PCR systems and availability of alternative assay hampers the growth of Europe PCR technologies market.

Based on technology, the Europe PCR technologies market is segmented into real time PCR, conventional PCR, reverse transcription, digital PCR, multiplex RTPCR, hot start PCR, and others. The real time PCR segment held 38.9% share of Europe PCR technologies market in 2022, amassing US$ 1,510.58 million. It is projected to garner US$ 2,940.40 million by 2030 to expand at 8.7% CAGR during 2022-2030.

In terms of offerings, the Europe PCR technologies market is categorized into reagents & consumables, instruments, and software & services. The reagents & consumables segment held 59.9% share of Europe PCR technologies market in 2022, amassing US$ 2,322.29 million. It is projected to garner US$ 4,589.28 million by 2030 to expand at 8.9% CAGR during 2022-2030. Further, reagents & consumables segment are categorized into reagents, vials size, and other consumables. Furthermore, vials size is segmented into 0.2ml to 2ml, 0.1 ml to 0.3 ml, 2 ml to 5ml, and other vials. Additionally, instruments segment is bifurcated into benchtop PCR, and portable thermocyclers/PCR.

By application, the Europe PCR technologies market is segmented gene expression analysis, genetic sequencing, genotyping, nucleic acid synthesis, standard validation, point of care diagnostic application, environmental application, and others. The gene expression analysis segment held 23.6% share of Europe PCR technologies market in 2022, amassing US$ 915.48 million. It is projected to garner US$ 1,806.09 million by 2030 to expand at 8.9% CAGR during 2022-2030.

Based on end user, the Europe PCR technologies market is segmented hospitals & diagnostic centers, pharmaceutical & biotechnology companies, academic institutes & research laboratories, and others. The hospitals & diagnostic centers segment held 57.1% share of Europe PCR technologies market in 2022, amassing US$ 2,216.54 million. It is projected to garner US$ 4,256.96 million by 2030 to expand at 8.5% CAGR during 2022-2030.

By country, the Europe PCR technologies market has been categorized into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that Germany captured 26.5% share of Europe PCR technologies market in 2022. It was assessed at US$ 1,028.55 million in 2022 and is likely to hit US$ 1,926.95 million by 2030, exhibiting a CAGR of 8.2% during 2022-2030.

Key players operating in the Europe PCR technologies market are Thermo Fisher Scientific Inc, Promega Corp, QIAGEN NV, bioMerieux SA, Hoffmann-La Roche Ltd, Bio-Rad Laboratories Inc, Becton Dickinson and Co, Takara Bio Inc, Standard Bio Tools Inc, Agilent Technologies Inc, and Ellume Ltd, among others.

• In February 2021, Thermo Fisher Scientific Inc announced the complete acquisition of Mesa Biotech Inc, a point-of-care molecular diagnostic company. The acquisition has allowed Thermo Fisher Scientific Inc to expand its portfolio with a point-of-care PCR-based testing platform for infectious disease diagnosis. And since 2021, Mesa Biotech Inc has become a part of the Life Sciences Solution Segment.
  
  
• In April 2022, Stilla Technologies and Promega Corporation announced a co-marketing agreement that combines sample preparation with the latest Maxwell systems and digital PCR on the six-color naica system. With this partnership, the companies will offer an optimized workflow for various applications, including liquid biopsy, sentinel pathogen testing, infectious disease assays, cancer research, and drug discovery.
  
  

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