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The global PCR and realtime PCR testing market is expected to decline from $22.53 billion in 2020 to $9.98 billion in 2021 at a compound annual growth rate (CAGR) of -55.7%.
The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $13.82 billion in 2025 at a CAGR of 8.5%.
The RT-PCR test is necessary for qualitative detection of nucleic acid from SARS-CoV-2 in upper and lower respiratory specimens that is collected from individuals suspected of COVID-19.