PUBLISHER: 360iResearch | PRODUCT CODE: 1470826
PUBLISHER: 360iResearch | PRODUCT CODE: 1470826
[195 Pages Report] The Multiplexed Diagnostics Market size was estimated at USD 14.98 billion in 2023 and expected to reach USD 17.36 billion in 2024, at a CAGR 16.62% to reach USD 43.97 billion by 2030.
Multiplexed diagnostics allows simultaneous detection and analysis of multiple biomarkers or targets in a single assay or test. Multiplexed diagnostics incorporate multiple detection channels or probes within a single test, enabling the detection of multiple analytes simultaneously. Multiplexed diagnostics can provide a more comprehensive understanding of the disease or condition being analyzed by considering multiple biomarkers or targets, allowing for better accuracy and reliability in diagnostics. Multiplexed diagnostics have become more popular due to growing demand for improved diagnostic technologies, rising incidences of cancer and other infectious diseases, and greater private-public expenditure for genomes and personalized medicine. However, limited multiplexing levels, possible cross-sensitivity between single detection sites, and lack of trained healthcare professionals for handling multiplexed diagnostic equipment impede the utilization of multiplexed diagnostics. In addition, introducing new and advanced multiplexed diagnostic tools and increasing emphasis on R&D activities to generate next-generation sequencing solutions is expected to create tremendous growth opportunities for the multiplexed diagnostics market development.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 14.98 billion |
Estimated Year [2024] | USD 17.36 billion |
Forecast Year [2030] | USD 43.97 billion |
CAGR (%) | 16.62% |
Method: Increased use of high-density multiplexed assays owing to their high precision in diagnostics
High-density multiplexed assays are becoming the preferred method for many clinical diagnostic laboratories due to their increased accuracy and sensitivity. Low-density multiplexed assays are an economical alternative to high-density multiplexing, as they utilize fewer reagents and less complex instrumentation and are most commonly used in screening applications that require quick results with a relatively low cost. Mid-density multiplexed assays bridge the gap between low and high-density options, providing greater analytical depth with fewer samples than traditional approaches. Very high-density multiplexed assays are the advanced type of assay currently available, allowing users to analyze multiple analytes simultaneously in a single reaction.
Application: Exponential use of multiplexed diagnostics for oncology disease detection
Multiplexed diagnostics has become increasingly important in allergic diseases as an accurate diagnosis can help guide treatment plans and lifestyle modifications. It is also used in autoimmune disorders to identify biomarkers characteristic of particular autoimmune conditions, such as lupus or rheumatoid arthritis. Multiplied diagnostic tests are being used in cardiology to detect cardiovascular disease early, enabling earlier and more effective treatment interventions. This diagnostic is important in identifying infectious agents such as viruses or bacteria from clinical samples. Multiplexed diagnostic tests are becoming increasingly useful in oncology due to their ability to detect expression changes in tumor cells compared with normal cells.
End-User: Need for advanced and high-throughput screening with multiplexed diagnostics in hospitals
The end users of multiplexed diagnostics are predominantly healthcare professionals, such as physicians, surgeons, and other medical personnel. Multiplexed diagnostics are used to diagnose diseases and disorders in humans. In healthcare facilities, it assists doctors in medical decision-making, management, automation, and workflows by diagnosing major diseases. This technology is widely used in hospitals and clinical labs, mainly using advanced diagnostic technologies to help hospital patients complete a screening process in a single run. In particular, the technology has been heavily used in clinical settings to detect diseases early and reduce operational costs.
Regional Insights
In the Americas, particularly the United States and Canada, the adoption of multiplexed diagnostics is driven by advanced healthcare infrastructure, a rigorous focus on research and development, and the presence of major diagnostics companies. High prevalence of chronic diseases and significant investment in healthcare technology further accelerated the use of these diagnostics. Consequently, production in this region is highly innovative, with an emphasis on the development of new assays and the integration of digital platforms. The APAC region displays a rapidly growing market for multiplexed diagnostics, mainly due to increasing healthcare expenditure, rising awareness about advanced diagnostic methods, and a growing middle-class population. Countries such as China and India are witnessing increased localization of production as local companies emerge and international players invest in regional manufacturing. Western Europe has a strong foundation similar to the Americas, with well-established healthcare systems favoring early adoption of advanced technologies like multiplexed diagnostics. The production in EMEA is marked by stringent EU regulations, which ensure high-quality standards. Companies operating within EMEA are a mix of established global players and smaller regional companies focusing on specific niche markets.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Multiplexed Diagnostics Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Multiplexed Diagnostics Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Multiplexed Diagnostics Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, AccuBioTech Co., Ltd., Agilent Technologies, Inc., Akoya Biosciences, AusDiagnostics by R-Biopharm, Baxter International Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., bioMerieux SA, Cardinal Health, Chembio, ChromaCode, Inc., Danaher Corporation, Delta Diagnostics BV, F. Hoffmann-La Roche AG, Genabio Diagnostics Inc., Hologic, Inc., Illumina, Inc., Leica Biosystems, Medtronic PLC, Merck KGaA, NanoPin Technologies, Novartis AG, PCR Biosystems, QIAGEN N.V., Quansys Biosciences Inc., Seegene, Inc., Siemens Healthineers, Thermo Fisher Scientific, Inc., and West Pharmaceutical Services.
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the Multiplexed Diagnostics Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Multiplexed Diagnostics Market?
3. What are the technology trends and regulatory frameworks in the Multiplexed Diagnostics Market?
4. What is the market share of the leading vendors in the Multiplexed Diagnostics Market?
5. Which modes and strategic moves are suitable for entering the Multiplexed Diagnostics Market?