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Global Multiplex Assays Market – Industry Trends and Forecast to 2029

  • Healthcare
  • Upcoming Report
  • Mar 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60
  • Healthcare
  • Upcoming Report
  • Mar 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Multiplex Assays Market, By Products and Services (Reagents and Consumables, Instruments and Accessories and Software and Services), Type (Nucleic Acid Multiplex Assays, Protein Multiplex Assays and Cell-Based Multiplex Assays), Technology (Protein Microarray, Polymerase Chain Reaction, Multiplex Real-Time Polymerise Chain Reaction, Flow Cytometry, Fluorescence Detection, Luminescence and Others), Application (Clinical Diagnostics and Research and Development), End User (Hospitals, Clinical Laboratories, Pharmaceutical and Biotechnology Companies, Research Institutes and Others) – Industry Trends and Forecast to 2029

Multiplex Assays Market

Global Multiplex Assays Market Analysis and Size

Growing number of research and development activities pertaining to mutation analysis, RNA detection and linkage analysis is creating lucrative growth opportunities for the multiplex assays market. Some of the major players operating in this market are Luminex Corporation (US), Thermo Fisher Scientific Inc. (US), Illumina, Inc (US), Bio-Rad Laboratories, Inc. (US), QIAGEN and PerkinElmer, Inc. (US).

  • Data Bridge Market Research analyses that the multiplex assays market is expected to undergo a CAGR of 7.13% during the forecast period. This indicates that the market value, which was USD 3.00 billion in 2021, would rocket up to USD 8.24 billion by 2029. “Protein Multiplex Assays” dominates the application segment of the multiplex assays market owing to increasing focus on proteomics studies for biomarker research and clinical diagnostics. 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.

Global Multiplex Assays Market Definition

Multiplex assays is a procedure wherein the analytes are profiled separately. Analytes such as proteins, biomolecules, growth factors, cytokines, and chemokines are used to amplify multiple targets in a polymerase chain reaction (PCR). The multiplex assays are widely used in pathogen identification, gene detection analysis and others.

 

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2019 - 2014)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Products and Services (Reagents and Consumables, Instruments and Accessories and Software and Services), Type (Nucleic Acid Multiplex Assays, Protein Multiplex Assays and Cell-Based Multiplex Assays), Technology (Protein Microarray, Polymerase Chain Reaction, Multiplex Real-Time Polymerise Chain Reaction, Flow Cytometry, Fluorescence Detection, Luminescence and Others), Application (Clinical Diagnostics and Research and Development), End User (Hospitals, Clinical Laboratories, Pharmaceutical and Biotechnology Companies, Research Institutes and Others)

Countries Covered

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.

Market Players Covered

Luminex Corporation (US), Thermo Fisher Scientific Inc. (US), Illumina, Inc (US), Bio-Rad Laboratories, Inc. (US), QIAGEN (Netherlands), Abcam plc (UK), BD (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Meso Scale Diagnostics (US), Randox Laboratories (UK), Quanterix (US), Bio-Techne Corporation (US), Olink (Sweden), DiaSorin S.p.A. (Italy), Seegene (South Korea), Promega Corporation (US), Siemens (Germany), PerkinElmer, Inc. (US) and Shimadzu Corporation (Japan)

Multiplex Assays Market Dynamics

Drivers

  • Rising prevalence of cancer

Surging incidence rate of cancer all around the globe is carving the way for the growth of the market. More than 10 million people die of cancer every year and cancer is the second most leading cause of deaths in the world. This will further carve the way for the growth of the market in the future.   

  • Research and development proficiencies

Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted for the integration of advanced technologies in the healthcare facilities and on the detection of infectious diseases is also bolstering the market growth rate.

  • Government investments on healthcare infrastructure

The increase in the funding by the federal government is set to drive the market growth rate. Moreover, growth and expansion of healthcare industry being driven by both public and private players especially in the developing economies will create lucrative market growth opportunities. Also, high return on investments assured by the research activities will also work in the favour of the market.

Additionally, growing adoption of companion diagnostics for increasing the safety and efficacy of therapies, surge in the personal disposable income level, introduction of technologically driven products in hospitals, increasing investment for the development of advanced medical products and devices and growing awareness about the benefits of multiplex assays, positively affect the market growth rate.

Opportunities

Furthermore, upsurge in the public-private funding for target research activities, increasing use of multiplex assays in companion diagnostics, rising geriatric population base and validation of the biomarkers in molecular and protein diagnostics, along with the rising need of the high-throughput and automated systems all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, surging number of strategic collaborations, rising internet penetration rate, growing number of hospitals and laboratories, increasing availability and affordability of low-cost clinical microbiology products and increasing per capita expenditure on health care will further expand the market's growth rate in the future. 

Restraints/Challenges Global Multiplex Assays Market

On the other hand, high cost associated with the research and development proficiencies, limited infrastructural facilities and operational barriers related to the use of diagnostic tests are expected to obstruct market growth. Also, lack of favorable reimbursement scenario and technology penetration in the developing economies, limited reimbursement policies for microbiology testing procedures, high cost of reagents used in microbiology biochemical testing and lack of skilled working professionals for conducting diagnostics tests in low- and middle-income countries are projected to challenge the market in the forecast period of 2022-2029.

This 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 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 Multiplex Assays Market

COVID-19 has significantly and positively impacted the market. In this pandemic phase, multiplex assays like SARS-CoV-2 assay were used for COVID diagnosis. Various companies have received approval from FDA which further carved the way for the growth of the market. The multiplex assay manufacturers have launched several assays during this pandemic phase which has further pushed the growth rate of the market.  

Global Multiplex Assays Market Scope

The multiplex assays market is segmented on the basis of products and services, type, technology, 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.

Products and Services

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

On the basis of product and services, the multiplex assays market is segmented into reagents and consumables, instruments and accessories and software and services.

Type

  • Nucleic Acid Multiplex Assays
  • Protein Multiplex Assays
  • Cell-Based Multiplex Assays

On the basis of type, the multiplex assays market is segmented into protein multiplex assays, nucleic acid multiplex assays and cell-based multiplex assays. Protein multiplex assays are sub-segmented into planar protein assays and bead-based protein assays. Nucleic acid multiplex assays are sub-segmented into planar nucleic acid assays and bead-based nucleic acid assays.

Technology

  • Protein Microarray
  • Polymerase Chain Reaction
  • Multiplex Real-Time Polymerise Chain Reaction
  • Flow Cytometry
  • Fluorescence Detection
  • Luminescence
  • Others

On the basis of technology, the multiplex assays market is segmented into flow cytometry, fluorescence detection, luminescence, multiplex real-time PCR, polymerase chain reaction (PCR), protein microarray and others.

Application

  • Clinical Diagnostics
  • Research and Development

On the basis of application, the multiplex assays market is segmented into research and development and clinical diagnostics. Research and development is sub-segmented into drug discovery and development and biomarker discovery and validation. Clinical diagnostics is sub-segmented into infectious diseases, cancer, cardiovascular diseases, infectious diseases, autoimmune diseases, allergies, nervous system disorders, metabolism and endocrinology disorders and others.

End User

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

On the basis of end user, the multiplex assays market is segmented into pharmaceutical and biotechnology companies, research institutes, hospitals, clinical laboratories and others.

Multiplex Assays Market Regional Analysis/Insights

The multiplex assays market is analysed and market size insights and trends are provided by country, products and services, type, technology, application and end user as referenced above.

The countries covered in the 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.

North America dominates the multiplex assays market because of the strong base of healthcare facilities, rising investment from key players in the growth of the advanced devices, well-established distribution channels for clinical microbiology product manufacturers and rising number of research activities in this region.   

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, favourable regulatory scenario to improve the adoption rate for microbiology testing and other advanced diagnostic methods and the growing demand for quality healthcare in the region.

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 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 multiplex assays market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the multiplex assays market. The data is available for historic period 2010-2020.

Competitive Landscape and Multiplex Assays Market Share Analysis

The 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 multiplex assays market.

Some of the major players operating in the multiplex assays market are Luminex Corporation (US), Thermo Fisher Scientific Inc. (US), Illumina, Inc (US), Bio-Rad Laboratories, Inc. (US), QIAGEN (Netherlands), Abcam plc (UK), BD (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Meso Scale Diagnostics (US), Randox Laboratories (UK), Quanterix (US), Bio-Techne Corporation (US), Olink (Sweden), DiaSorin S.p.A. (Italy), Seegene (South Korea), Promega Corporation (US), Siemens (Germany), PerkinElmer, Inc. (US) and Shimadzu Corporation (Japan) among others.

Research Methodology : Global Multiplex Assays Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-multiplex-assays-market


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Frequently Asked Questions

The Multiplex Assays Market Value is projected at USD 8.24 billion during the forecast period of 2022 to 2029.
The Multiplex Assays Market is Projected to Grow at a CAGR of 7.13% During the Forecast Period of 2022 to 2029.
Luminex Corporation (US), Thermo Fisher Scientific Inc. (US), Illumina, Inc (US), Bio-Rad Laboratories, Inc. (US), QIAGEN (Netherlands), Abcam plc (UK), BD (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Meso Scale Diagnostics (US), Randox Laboratories (UK), Quanterix (US), Bio-Techne Corporation (US), Olink (Sweden), DiaSorin S.p.A. (Italy), Seegene (South Korea), Promega Corporation (US), Siemens (Germany), PerkinElmer, Inc. (US) and Shimadzu Corporation (Japan) are the major companies operating in Multiplex Assays Market.
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 are Covered in the Multiplex Assays Market.
The Multiplex Assays Market Report Curated by the Data Bridge Market Research Team Includes In-Depth Expert Analysis, Patient Epidemiology, Pipeline Analysis, Pricing Analysis, and Regulatory Framework.