At 7.2% CAGR, South & Central America PCR Technologies Market is Projected to be Worth US$ 1,193.04 Million by 2030, says Business Market Insights

According to Business Market Insights research, the South & Central America PCR technologies market was valued at US$ 684.37 million in 2022 and is expected to reach US$ 1,193.04 million by 2030, registering a CAGR of 7.2% from 2022 to 2030. Increasing demand for POC testing & surging investments and funds availability for PCR technologies are among the critical factors attributed to the South & Central America PCR technologies market expansion.

Point-of-care (POC) testing presents a significant opportunity for the PCR technology market by expanding its reach and applications. PCR technology, known for its accuracy and sensitivity, is increasingly being adapted for POC testing due to its ability to deliver rapid and reliable results at or near the point of care. As POC testing becomes more prevalent in healthcare settings such as clinics, emergency departments, and decentralized facilities, the demand for PCR platforms and assays tailored for POC applications is expected to rise. PCR's advantages, including the ability to detect infectious diseases with high specificity and sensitivity, make it well-suited for POC testing, particularly in situations requiring rapid diagnosis and treatment decisions. Additionally, the miniaturization and automation of PCR systems further enable their integration into POC settings, facilitating on-site testing and improving patient care outcomes. As healthcare providers increasingly recognize the value of POC PCR testing in enhancing diagnostic capabilities and patient management, the market for POC PCR technologies is poised for growth and innovation.

On the contrary, high costs of PCR systems and availability of alternative assay hampers the growth of South & Central America PCR technologies market.

Based on technology, the South & Central America 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 37.9% share of South & Central America PCR technologies market in 2022, amassing US$ 259.34 million. It is projected to garner US$ 471.50 million by 2030 to expand at 7.8% CAGR during 2022-2030.

In terms of offerings, the South & Central America PCR technologies market is segmented into reagents & consumables, instruments, and software & services. The reagents & consumables segment held 57.8% share of South & Central America PCR technologies market in 2022, amassing US$ 395.41 million. It is projected to garner US$ 728.13 million by 2030 to expand at 7.9% 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.

Based on application, the South & Central America 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 22.8% share of South & Central America PCR technologies market in 2022, amassing US$ 156.14 million. It is projected to garner US$ 288.78 million by 2030 to expand at 8.0% CAGR during 2022-2030.

Based on end user, the South & Central America PCR technologies market is segmented hospitals & diagnostic centers, pharmaceutical & biotechnology companies, academic institutes & research laboratories, and others. The hospitals & diagnostic centers segment held 56.1% share of South & Central America PCR technologies market in 2022, amassing US$ 384.10 million. It is projected to garner US$ 690.39 million by 2030 to expand at 7.6% CAGR during 2022-2030.

By country, the South & Central America PCR technologies market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 58.7% share of South & Central America PCR technologies market in 2022. It was assessed at US$ 401.54 million in 2022 and is likely to hit US$ 720.83 million by 2030, exhibiting a CAGR of 7.6% during 2022-2030.

Key players operating in the South & Central America 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, and Ellume Ltd, among others.

In November 2023, Qiagen launched new kits for use on its QIAcuity systems and a major new software update designed to expand the portfolio of applications for use of digital PCR technology in areas like cell and gene therapies, DNA and RNA quantification, as well as food and pharmaceuticals safety.

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