Market Research Report
Syndromic Multiplex Diagnostic Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||921984|
|Published||Content info||115 Pages
Delivery time: 2-3 business days
|Syndromic Multiplex Diagnostic Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: January 1, 2020||Content info: 115 Pages||
The syndromic multiplex diagnostic market studied was anticipated to grow with a CAGR of nearly 7.2% during the forecast period. The major factors attributing to the growth of the syndromic multiplex diagnostic market are a rise in the number of infectious cases and diseases and higher incidences of side effects associated with the use of antibiotics which demand the necessity of diagnostics. Thus, owing to its ability to address the rising needs of the patients and clinicians like utilization of lesser resources, enhanced accuracy of results led the syndromic multiplex diagnostic market to grow throughout the forecast period. For instance, in May 2018, according to the World Health Organization, the leading cause of deaths recorded worldwide was lower respiratory infections necessitating the high requirement for advanced diagnostic equipment which fuel the global syndromic multiplex diagnostic market.
The syndrome is a collection of abnormal signs and symptoms that are often associated with a specific disease where identification of the specific causative agent is difficult in order to take precautions in advance or give appropriate treatment for the patients. The syndromic multiplex diagnostic test employs testing of various pathogens in a single test reaction, helps healthcare providers to deliver efficient medications in proper time by minimizing uncertainty and mistakes that occur while testing of an infection. The syndromic multiplex diagnostic test gives more accurate, realistic and comprehensive results in critical care.
Respiratory by Type of Syndrome is Expected to Hold the Major Market Share in the Syndromic Multiplex Diagnostic Market
North America Dominates the Market and Expected to do Same in the Forecast Period.
North America has been the primary market for the syndromic multiplex diagnostic market and is expected to hold a significant share in global revenue owing to the adoption of advanced technologies and the availability of improved healthcare infrastructure, and also rise in R&D laboratories resultant.
Europe has been the second-largest market for syndromic multiplex diagnostic market, where the market is fueled by the increased healthcare expenditure, and preference of patients for novel treatment procedures.
Globally, the syndromic multiplex diagnostics market is expected to witness the fastest growth in the Asia-Pacific region during the forecast period due to the higher demand for treatments with widespread infections, rise in government support to spread the healthcare awareness among people about various infections in the region.
The Global Syndromic multiplex diagnostic market is moderately competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some prominent players are launching new products, while others are distributing the products, making acquisitions and partnerships to increase their footprints in the market. For instance, in June 2019, Biomerieux received approval for their Novel TruDiagnosis System by Food and Drug Administration (FDA) which is specially designed for the diagnosis of multiple infections. The unique microfluidic design in a single chamber result in a much faster workflow and a cost-effective consumable for multiplexed testing as compared to traditional technologies. Some of the companies which are currently dominating the market are BIOMERIEUX SA, Luminex Corporation, QIAGEN, Applied BioCode, and Akonni Biosystems.