Asia-Pacific Polymerase Chain Reaction (PCR) Multiplex Assays Market – Industry Trends and Forecast to 2029

Asia-Pacific Polymerase Chain Reaction (PCR) Multiplex Assays Market, By Products and Services (Reagents and Consumables, Instruments and Accessories, Software and Services), Applications (Clinical Diagnostics, Research and Development), End-User (Hospitals, Clinical Laboratories, Pharmaceutical and Biotechnology Companies, Research Institutes, Others) – Industry Trends and Forecast to 2029

Market Analysis and Size

A multiplex assay can amplify more than one target sequence by using numerous primer pairs in reaction mixes. The PCR technique saves time and effort in laboratory investigations, making it a useful and quick screening tool for clinical and research labs. Manufacturers of PCR multiplex assays are looking to expand their business and provide new services.

Data Bridge Market Research analyses that the polymerase chain reaction (PCR) multiplex assays market was valued at USD 0.69 million in 2021, would rocket up to USD 1.38 million by 2029, and is expected to undergo a CAGR of 9.1% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

Multiplex assays are a new technology that allows you to run multiple target sequences in a single step. The evolution of PCR multiplex assays in terms of smart features such as voice command, facial authentication, and radio-frequency identification (RFID) features has shifted the system from a manual instrument to an automated PCR multiplexes system.

Report Scope and Market Segmentation

Polymerase Chain Reaction (PCR) Multiplex Assays Market Dynamics

Drivers

• Growing number of hospitals across emerging economies

Healthcare technological breakthroughs, a growing research and development industry, expanding healthcare reforms, and a rising need for healthcare infrastructure will likely propel the regional market forward.

• Growing incidences of chronic illness

Multiplex assays in companion diagnostics are becoming more popular due to the rising prevalence of cancer. Additionally, the advantages of multiplex assays over singleplex and traditional assays, technological advancements, rising healthcare expenditure, and rising awareness about the multifactorial nature of various diseases and pathological conditions are expected to drive the Multiplex Assays market forward.

Opportunities

Expanded government financing, increasing pharmaceutical and biotechnology research activities, and a greater focus on improving experiment efficiency will propel the business forward. Because of the growing recognition of the multifactorial character of illnesses and pathological situations like cancer and Alzheimer's disease, a cost-effective and time-saving technique for evaluating many analyzers in a single sample is needed.

Restraints/Challenges

High equipment prices and a scarcity of experienced workers could stymie the expansion of the multiplex assays business in the near future.

This Polymerase Chain Reaction (PCR) multiplex assays market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the PCR multiplex assays market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Polymerase Chain Reaction (PCR) Multiplex Assays Market

The COVID-19 pandemic has had a significant impact on Asia Pacific economies. COVID-19 instances are becoming more common, putting a strain on the region's healthcare system. This is driving up demand for diagnostic tests in the healthcare system, which is boosting the sector's growth. As a result, countries like India, China, and South Korea have improved their PCR testing capabilities. A number of companies are working on enhanced PCR test kits and systems to detect the COVID-19 virus. In addition, high-throughput molecular testing is predicted to play a key role in managing the COVID-19 pandemic in the future. To address the growing demand of the high testing volume, several businesses got FDA emergency use authorization for their COVID-19 multiplex assays.

Recent Development

 Olink announced in December 2018 that oncology's 92-plex protein biomarker panel is now accessible as kits or as an analysis service. In two specialized panels, this novel biomarker panel can test 184 proteins. This novel assays panel covers a wide range of oncology-related diseases and biological processes.

 PerkinElmer, Inc. announced in October 2014 that they would be exhibiting Omics Office software in London; it is new and revolutionary software for qPCR and digital PCR Congress. This new programme assists scientists in importing, analysing, and validating complex data in order to make informed conclusions. This software can help you visualise and analyse biological data at a high level of sophistication. The company's product portfolio has been expanded in the market as a result of the debut of this product.

Asia-Pacific Polymerase Chain Reaction (PCR) Multiplex Assays Market Scope

The Polymerase Chain Reaction (PCR) multiplex assays market is segmented on the basis of type, product, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

By Product

• Reagents and Consumables
• Instruments and Accessories
• Software and Services

By Type

• Protein Based Multiplex Assays
• Nucleic Acid-Based Multiplex Assay
• Others

By End-User

• Pharmaceutical and Biotechnology Companies
• Research Institutes
• Clinical Laboratories
• Hospitals

By Application

• Research and Development
• Clinical Diagnostics
• Companion Diagnostics

Polymerase Chain Reaction (PCR) Multiplex Assays Market Regional Analysis/Insights

The Polymerase Chain Reaction (PCR) multiplex assays market is analysed and market size insights and trends are provided by country, type, product, application and end user as referenced above.

The countries covered in the  Polymerase Chain Reaction (PCR) multiplex assays market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

The rising usage of multiplex assay, North America is likely to maintain its market share dominance over the forecast period. Other reasons, such as the improvement of technology, the presence of well-developed healthcare infrastructures, and the increased prevalence of various chronic diseases, are expected to boost the multiplex assay market in this area.

Due to the increased usage of companion diagnostics, Asia Pacific is predicted to develop at a rapid pace, with an increasing market share throughout the forecast period. Furthermore, the multiplex assay market in this area is predicted to rise due to rising acceptance of advanced technologies, skyrocketing need for safe and effective treatment choices, and new product launches.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The Polymerase Chain Reaction (PCR) multiplex assays market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for PCR multiplex assays market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on Polymerase Chain Reaction (PCR) multiplex assays market. The data is available for historic period 2010-2020.

Competitive Landscape and Polymerase Chain Reaction (PCR) Multiplex Assays Market Share Analysis

The Polymerase Chain Reaction (PCR) multiplex assays market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Polymerase Chain Reaction (PCR) multiplex assays market.

Some of the major players operating in the Polymerase Chain Reaction (PCR) multiplex assays market are:

• Hologic, Inc. (U.S)
• Luminex (U.S)
• BD (U.S)
• Abbott (U.S)
• Thermo Fisher Scientific Inc. (U.S)
• QIAGEN (Germany)
• Agilent Technologies Inc. (U.S)
• MESO SCALE DIAGNOSTICS, LLC (U.S)
• Randox Laboratories Ltd. (U.K)
• Seegene Inc. (Korea)
• Illumina, Inc (U.S)
• Bio-Rad Laboratories, Inc. (U.S)
• Quest Diagnostics Incorporated (U.S)
• Abcam Plc (U.K)