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Global Multiplex Testing Market – Industry Trends and Forecast to 2029

Healthcare

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Global Multiplex Testing Market – Industry Trends and Forecast to 2029

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

Global Multiplex Testing Market – Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 2.00 USD Billion
Diagram Market Size (Forecast Year) USD 3.84 USD Billion
Diagram CAGR %

Major Markets Players

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Global Multiplex Testing Market, By Product (Reagents, Consumables, Others), Technology (xMAP (Multi-Analyte Profiling), RT-PCR (Real Time Polymerase Chain Reaction), ELISA (Enzyme-Linked Immunosorbent Assay), Others), Application (Influenza A, Influenza B, Parainfluenza Viruses, Adenovirus, Respiratory Syncytial Virus (RSV), Coronaviruses, Human Metapneumovirus (hMPV), Group Rhino- and Enteroviruses), End User (Hospitals, Clinical Laboratories, Pharmaceutical and Biotechnology Companies, Research Institutes, Others) – Industry Trends and Forecast to 2029.

Multiplex Testing Market

Multiplex Testing Market Analysis and Size

The multiplex testing checks for genetic material produced by the viruses that cause several different respiratory infections such as COVID-19, RSV, influenza. This determines that the individual is actively infected with any of these illnesses. The multiplex PCR can be used for diagnostic purposes, such as processing big samples or finding many species that are similar, and it can also be used to compare the expression of numerous genetic products at the same time.

Data Bridge Market Research analyses that the multiplex testing market which was USD 2.0 billion in 2021, would rocket up to USD 3.84 billion by 2029, and is expected to undergo a CAGR of 8.50% 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 Testing Market Scope and Segmentation      

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

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

Segments Covered

Product (Reagents, Consumables, Others), Technology (xMAP (Multi-Analyte Profiling), RT-PCR (Real Time Polymerase Chain Reaction), ELISA (Enzyme-Linked Immunosorbent Assay), Others), Application (Influenza A, Influenza B, Parainfluenza Viruses, Adenovirus, Respiratory Syncytial Virus (RSV), Coronaviruses, Human Metapneumovirus (hMPV), Group Rhino- and Enteroviruses), End User (Hospitals, Clinical Laboratories, Pharmaceutical and Biotechnology Companies, Research Institutes, 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

BD (U.S.), bioMérieux SA (France), Bio-Rad Laboratories, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Merck KGaA (Germany), Illumina, Inc. (U.S.), QIAGEN (Germany), Abcam plc. (U.K.), Agilent Technologies, Inc. (U.S.), MESO SCALE DIAGNOSTICS, LLC. (U.S.), Randox Laboratories Ltd. (U.K.), Quanterix (U.S.), Bio-Techne. (U.S.), Olink (U.S.), Seegene Inc. (South Korea)

Market Opportunities

  • Increasing adoption of personalized-precision medicine
  • Increasing burden of chronic diseases

Market Definition

The genetic material from viruses that cause a variety of respiratory diseases is checked with this test (such as COVID-19, influenza, and RSV). This establishes whether a person is currently infected with one of these diseases. The time and expenses associated with conducting individual tests are reduced by multiplex testing.

Global Multiplex Testing Market Dynamics

Drivers

  • Surging volume of patients suffering from respiratory disorders

The most prevalent acute and chronic diseases worldwide are respiratory illnesses. Regardless of the degree of progress in a society, they are prevalent throughout all age groups and population segments. Respiratory viral infections play an increasing role in community-acquired pneumonia (CAP) in adult patients, as more rapid and sensitive diagnostic methods based on PCR techniques are being developed. This will boost market growth.

  • Rise in the personalized medicine

Personalized medicine, which has gained popularity recently, endeavours to give each patient a treatment plan that is specifically designed for them based on the molecular cause of their illness. Companion diagnostics are quickly growing in number and use in disease areas and are becoming an essential component of customised treatment. According to the current product pipeline, companion diagnostics are expected to increase quickly in the near future. The growth of the global market for multiplex testing is anticipated to be significantly impacted by this expansion of companion diagnostics.

Opportunities

  • Growing application of multiplex testing in emerging economies

The multiplex assay has emerged as a result of the validation of numerous disease indicators in both molecular and protein diagnostics. The immunoassay was initially used to test simple low-throughput multiplex assays. These were followed by high-throughput array-based immunoassays and low-level multiplexing.

Restraints/Challenges

On the other hand, the high cost of devices along with stringent regulations and standards will obstruct the market's growth rate. The lack of skilled professionals in developing economies will challenge the multiplex testing market.

This multiplex testing 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 testing 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 Testing Market

The application of multiplex diagnostic for the diagnosis of COVID-19 and associated disorders has favourably impacted the growth of the studied market. The development of cutting-edge diagnostic tools for the detection of SARS-CoV-2 has seen a rise in research and development. Major market participants boosted their investments in creating devices or panels for multiplexed viral detection while concentrating more on innovations. As a result of the above mentioned causes, even though COVID-19 caused a lack of crucial diagnostic tests during the early stages of the pandemic, multiplex assays were crucial in delivering speedy results for COVID-19 diagnosis.

Recent Development

  • In March 2020, The BIOFIRE COVID-19 test, which identifies COVID-19, the common cold, influenza, pneumonia, bronchiolitis, and even whooping cough, as well as SARS-CoV-2 and 21 other common respiratory viruses and bacteria, gained Emergency Use Authorization from bioMérieux.
  • In May 2022, QuantuMDx Group Limited introduced the Q-POC SARS-CoV-2, Flu A/B & RSV Assay, a new respiratory panel test. Customers may quickly test at the point of care in a variety of healthcare settings because to its multiplex capabilities.

Global Multiplex Testing Market Scope

The multiplex testing market is segmented on the basis of product, 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.

Product

  • Reagents
  • Consumables
  • Others

Technology

  • xMAP (Multi-Analyte Profiling)
  • RT-PCR (Real Time Polymerase Chain Reaction)
  • ELISA (Enzyme-Linked Immunosorbent Assay)
  • Others

Application

  • Influenza A
  • Influenza B
  • Parainfluenza Viruses
  • Adenovirus
  • Respiratory Syncytial Virus (RSV)
  • Coronaviruses
  • Human Metapneumovirus (hMPV)
  • Group Rhino- and Enteroviruses

 End User

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

Multiplex Testing Market Regional Analysis/Insights

The multiplex testing market is analysed and market size insights and trends are provided by country, product type, technology, application and end-user as referenced above.

The countries covered in the multiplex testing 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 testing market due to the prevalence of improved and technologically advanced healthcare infrastructure along with growing healthcare expenditure.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the growing occurrences of infectious diseases and rising disposable income.

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 Testing Market Share Analysis

The multiplex testing 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 testing market.

Some of the major players operating in the multiplex testing market are:

  • BD (U.S.)
  • bioMérieux SA (France)
  • Bio-Rad Laboratories, Inc. (U.S.)
  • Thermo Fisher Scientific Inc. (U.S.)
  • Merck KGaA (Germany)
  • Illumina, Inc. (U.S.)
  • QIAGEN (Germany)
  • Abcam plc. (U.K.)
  • Agilent Technologies, Inc. (U.S.)
  • MESO SCALE DIAGNOSTICS, LLC. (U.S.)
  • Randox Laboratories Ltd. (U.K.)
  • Quanterix (U.S.)
  • Bio-Techne. (U.S.)
  • Olink (U.S.)
  • Seegene Inc. (South Korea)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed 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 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. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, 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.

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FREQUENTLY ASK QUESTIONS

The multiplex testing market is projected to grow at a CAGR of 8.50% during the forecast period of 2022-2029.
The future market value of the multiplex testing market is expected to reach USD 3.84 billion by 2029.
The major players operating in the multiplex testing market are BD (U.S.), bioMérieux SA (France), Bio-Rad Laboratories, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Merck KGaA (Germany), Illumina, Inc. (U.S.), QIAGEN (Germany), Abcam plc. (U.K.), Agilent Technologies, Inc. (U.S.), MESO SCALE DIAGNOSTICS, LLC. (U.S.), Randox Laboratories Ltd. (U.K.), Quanterix (U.S.), Bio-Techne. (U.S.), Olink (U.S.), Seegene Inc. (South Korea).
The countries covered in the multiplex testing market 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, etc.
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