Global Multiplex Molecular Diagnosis Technology Market, By Product Type (Analyzers, Software, Instruments, Centrifuge, Counting Chambers, Incubators), Method (Real-time PCR, Nested PCR with Melt Curve Analysis, PCR with Low Density Microarray, PCR with Liquid Phase Bead Array, PCR with Electrochemical Detection) – Industry Trends and Forecast to 2029.
Multiplex Molecular Diagnosis Technology Market Analysis and Size
The market for multiplex molecular diagnosis technology is expected to grow during forecast period. Multiplex molecular diagnosis is used to find diseases such as H1N1 virus, chlamydia, and other infections. End users demand for multiplex molecular diagnosis is projected to rise as a result of the discovery of such diseases. For single-analytic testing, enzyme-linked immunosorbent assays (ELISA) are widely used to quantitatively assess the presence of protein in a sample.
Data Bridge Market Research analyses that the multiplex molecular diagnosis technology market which was USD 37.04 billion in 2021, would rocket up to USD 76.00 billion by 2029, and is expected to undergo a CAGR of 9.40% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Multiplex Molecular Diagnosis Technology Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Analyzers, Software, Instruments, Centrifuge, Counting Chambers, Incubators), Method (Real-time PCR, Nested PCR with Melt Curve Analysis, PCR with Low density Microarray, PCR with Liquid Phase Bead Array, PCR with Electrochemical Detection)
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Countries Covered
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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.
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Market Players Covered
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Siemens (Germany), Hologic, Inc. (U.S.), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Abbott (U.S.), BD (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Thermo Fisher Scientific Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), NeuroLogica Corp. (U.S.), Shimadzu Medical (India) pvt. Ltd. (Japan), GENERAL ELECTRIC (U.S.), Quest Diagnostics Incorporated (U.S.), Sysmex India Pvt. Ltd. (Japan), Hitachi, Ltd. (Japan), Canon Inc. (Japan), FUJIFILM Holdings Corporation (U.K.)
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Market Opportunities
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Market Definition
Multiplexing allows for the identification of a wide range of conditions as opposed to carrying out separate individual procedures, when doing a molecular diagnostic test method. It makes it possible to detect multiple traits, diseases, or genetic sequences at once, including those associated with cancer genes.
Global Multiplex Molecular Diagnosis Technology Market Dynamics
Drivers
- Rise in rapid testing procedures
Globally, the novel coronavirus epidemic has caused tremendous loss to humanity. Rapid testing procedures are required to combat the COVID-19 virus's rising rate of transmission. As RT-PCR testing kits growing as the industry's gold standard, there is an enormous global demand for them. This element might encourage producers in the multiplex molecular diagnosis technology market to boost.
- Increase in demand of multiplex molecular diagnostics
Multiplex molecular diagnosis are expected to be in high demand during the forecast period. Increased economic stability results in better healthcare and research funding, which boosts demand for multiplex molecular diagnosis technology.
The market for multiplex molecular diagnosis is expanding as gastrointestinal, respiratory, and CNS illnesses become more common.
Opportunities
- Technological developments
The market for multiplex molecular diagnosis technology is gaining significant traction to novel technological breakthroughs. For instance, Bosch Healthcare Solutions developed one of the first multiplex molecular diagnostics tests in the world that can both detect COVID-19 and distinguish it from more than 8 respiratory illnesses. This product will remove pointless confusion and aid in patient differentiation.
Restraints/Challenges
On the other hand, the limited budgets for R&D and economic slowdown will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the for multiplex molecular diagnosis technology market.
This multiplex molecular diagnosis technology 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 molecular diagnosis technology 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 Molecular Diagnosis Technology Market
The impact of COVID-19 on multiplex molecular diagnosis technology is positive during the pandemic. US FDA has been approved many instruments in the diagnosis of COVID-19. The surge in demand for polymerase chain reaction tests, next-generation sequencing (NGS), serology-based rapid-test products, and a dramatic increase in the target patient population are all predicted to contribute to an increase in the demand for diagnostics as a result of COVID-19 in Brazil. For instance, Seegene Inc., a pioneer in multiplex PCR technology development, provided Brazil with five million Allplex 2019-nCOV assay tests in May 2020 through its subsidiary Seegene do Brasil Diagnosticos Ltda.
Recent Development
- In July 2020, For the purpose of assisting with SARS CoV-2 diagnostic testing, Roche Diagnostics India launched the Cobas 8800 instrument at the National Institute of Cholera and Enteric Diseases in Kolkata and the Cobas 6800 at the National Institute for Research in Reproductive Health in Mumbai. The Cobas 6800/8800 systems from Roche offer faster turnaround times, increased flexibility, and test results in three and a half hours.
- In January 2020, The Japanese Pharmaceuticals and Medical Devices Agency (PMDA) granted Illumina product approval for the MiSeqDx equipment. The MiSeqDx can now be sold in Japan as a Class I medical equipment, which will have a favourable effect on the market.
Global Multiplex Molecular Diagnosis Technology Market Scope
The multiplex molecular diagnosis technology market is segmented on the basis of product type and method. 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.
Product Type
- Analyzers
- Software
- Instruments
- Centrifuge
- Counting Chambers
- Incubators
Method
- Real-time PCR
- Nested PCR with Melt Curve Analysis
- PCR with Low Density Microarray
- PCR with Liquid Phase Bead Array
- PCR with Electrochemical Detection
Multiplex Molecular Diagnosis Technology Market Regional Analysis/Insights
The multiplex molecular diagnosis technology market is analysed and market size insights and trends are provided by country, product type and method as referenced above.
The countries covered in the multiplex molecular diagnosis technology 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 molecular diagnosis technology market due to the well- equipped infrastructure, patient awareness, advancement of techniques among others.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the rising demand for improved multiplex molecular diagnosis technology.
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.
Competitive Landscape and Multiplex Molecular Diagnosis Technology Market Share Analysis
The multiplex molecular diagnosis technology 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 molecular diagnosis technology market.
Some of the major players operating in the multiplex molecular diagnosis technology market are:
- Siemens (Germany)
- Hologic, Inc. (U.S.)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
- Abbott (U.S.)
- BD (U.S.)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Thermo Fisher Scientific Inc. (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- NeuroLogica Corp. (U.S.)
- Shimadzu Medical (India) pvt. Ltd. (Japan)
- GENERAL ELECTRIC (U.S.)
- Quest Diagnostics Incorporated (U.S.)
- Sysmex India Pvt. Ltd. (Japan)
- Hitachi, Ltd. (Japan)
- Canon Inc. (Japan)
- FUJIFILM Holdings Corporation (U.K)
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