Market Research Report
Multiplex Assays Market Size, Share & Trends Analysis By Product & Service, By Type, By Technology, By Application, By End User, Regional Outlook, Competitive Strategies and Segment Forecasts to 2030
|Multiplex Assays Market Size, Share & Trends Analysis By Product & Service, By Type, By Technology, By Application, By End User, Regional Outlook, Competitive Strategies and Segment Forecasts to 2030|
Published: February 22, 2022
SPER Market Research Pvt. Ltd.
Content info: 243 Pages
Delivery time: 1-2 business days
Global multiplex assays market is projected to be worth USD 5.6 billion by 2030.
According to SPER Market Research, the multiplex assays market estimated to reach USD 5.6 billion by 2030 with a CAGR of 7.2%. The rising prevalence of chronic disorders require advanced diagnostic tools and testing methods for early detection and better treatment.
Multiplex assay market has grown significantly during the COVID-19 pandemic. Multiplex assays have been utilized for the diagnosis of SARS-CoV-2. The regulatory approvals were also relaxed to fasten the manufacturing and availability in the market to meet elevated demand. Temporary operational challenges were observed due to lockdowns. Overall, a positive impact is being observed with relaxation in travelling restrictions and rising demand for diagnosis purpose.
Abcam Plc, Agilent Technologies, Inc., Antigenix America, Inc., AYOXXA Biosystems GmbH, Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Bio-Techne Corporation, Boster Biological Technology, Cayman Chemical Company, DiaSorin S.p.A., Enzo Life Sciences, Inc., Illumina, Inc, Luminex Corporation, Merck KGaA, Meso Scale Diagnostics Olink, PerkinElmer, Inc., Promega Corporation, Qiagen N.V., Quanterix, Randox Laboratories, Seegene, Shimadzu Biotech, Siemens Healthineers, Thermo Fisher Scientific Inc.
The use of multiplex assays is rising due to the increasing prevalence of chronic diseases and advantages offered by multiplex assays over singleplex assays. Multiplex assays provide faster delivery of diagnostic results and detection at lower concentration of reagents and analytes as compared to traditional and singleplex assays.
The equipment utilized in the manufacturing of multiplex assays are expensive which creates challenges to provide multiplex assay testing at an affordable cost. Additionally, the standards for Quality control are more stringent for multiplex assays in comparison to singleplex assays.
The validation of biomarkers is increasing in protein and molecular diagnostics. The technological advancements in multiplex assay testing instruments will increase efficiency and accuracy of the results which will create growth opportunities for multiplex assay market in the diagnosis of neurodegenerative disorders, cancer and autoimmune diseases.
There is a lack of skilled technicians who can handle multiplex assay instruments. This can pose a challenge to the growth of this market.
Based on product and service, market has been segmented into Consumables, Instruments, Software & Service
Based on type, market has been segmented into Protein Multiplex Assays (Planar Protein Assays, Bead-Based Protein Assays, Other Protein Assays), Nucleic Acid Multiplex Assays (Planar Nucleic Acid Assays, Bead-Based Nucleic Acid Assays, Other Nucleic Acid Assays), Cell-Based Multiplex Assays
Based on technology, market has been segmented into Flow Cytometry, Fluorescence Detection, Luminescence, Multiplex Real-Time PCR, Other Technologies
Based on application, market has been segmented into Research & Development (Drug Discovery & Development, Biomarker Discovery & Validation), Clinical Diagnostics (Infectious Diseases, Cancer, Cardiovascular Diseases, Autoimmune Diseases, Nervous System Disorders, Metabolism & Endocrinology Disorders, Other Diseases
Based on end user, the market is segmented into Pharmaceutical & Biotechnology Companies, Hospitals & Research Institutes, Reference Laboratories, Other End Users
Pharmaceutical & biotechnology companies have the largest share of this market by end user due to rising adoption of multiplex assay testing in drug development process and rising focus on monoclonal antibodies & biosimilar products.
North America owns the largest share of this market due to factors such as presence of strong pharmaceutical industry, high Research and Development investment, technological advancement and growing biotechnology companies.