The Multiplex Assay Market was valued at $3.6 billion in 2022 and is estimated to reach $7.7 billion by 2032, exhibiting a CAGR of 7.8% from 2023 to 2032. Multiplex assay is a procedure in which various analytes (such as proteins, biomolecules, growth factors, cytokines, and chemokines) are profiled by detecting and quantifying them simultaneously. This assay is used to amplify multiple targets in a polymerase chain reaction (PCR) and collect more information from minute quantities of proteins or other analytes in less time as compared to conventional methods such as ELISA. Multiplex assays are widely used for pathogen identification, mutation analysis, RNA detection, gene detection analysis, linkage analysis, and forensic studies.
Major factors that drive the growth of the global multiplex assay market include rapid technological advancements in multiplex assay equipment, increase in R&D activities in pharmaceuticals for treatment of several diseases. These assays are used in clinical trials as they decrease the cost of research & manual labor and increase the efficiency of experiments and therapies. In addition, they offer easier & faster analysis of diseases and are automated as compared to conventional methods, which propels market growth.
However, high capital investments and dearth of skilled labors are the major factors that are expected to restrict the growth of the multiplex assay market. The high procurement and operational costs along with cumbersome and complex nature of multiplex assay instruments remain a key hurdle in the multiplex assay market. Moreover, increase in validation of biomarkers in molecular and protein diagnostics, along with rise in need of high-throughput and automated systems are anticipated to create lucrative opportunities for the expansion of the global market in the future. In addition, increase in funding for clinical research and drug discovery are expected to further propel the multiplex market growth.
The multiplex assay market is segmented on the basis of type, product, application, end user, and region. On the basis of type, the market is divided into protein based multiplex assay, nucleic acid-based multiplex assay, and cell-based multiplex assays. On the basis of product, the market is classified into reagents & consumables, instruments & accessories, and software & services. On the basis of application, the multiplex assay market is segregated into clinical diagnostics, research and development, and companion diagnostics.
On the basis of end user, the market is segregated into hospitals, clinical laboratories, research institutes, and pharmaceuticals & biotechnology companies. On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The major players profiled in the report are Abcam plc, Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., DiaSorin S.p.A. (Luminex Corporation), Illumina Inc., Meso Scale Diagnostics LLC, QIAGEN N.V., Randox Laboratories Ltd., Seegene Inc., Thermo Fisher Scientific Inc. These major players have adopted acquisition, agreement, expansion, partnership, product launch, product approval as key developmental strategy to improve the product portfolio of the multiplex assay market.
Major factors that drive the growth of the global multiplex assay market include rapid technological advancements in multiplex assay equipment, increase in R&D activities in pharmaceuticals for treatment of several diseases. These assays are used in clinical trials as they decrease the cost of research & manual labor and increase the efficiency of experiments and therapies. In addition, they offer easier & faster analysis of diseases and are automated as compared to conventional methods, which propels market growth.
However, high capital investments and dearth of skilled labors are the major factors that are expected to restrict the growth of the multiplex assay market. The high procurement and operational costs along with cumbersome and complex nature of multiplex assay instruments remain a key hurdle in the multiplex assay market. Moreover, increase in validation of biomarkers in molecular and protein diagnostics, along with rise in need of high-throughput and automated systems are anticipated to create lucrative opportunities for the expansion of the global market in the future. In addition, increase in funding for clinical research and drug discovery are expected to further propel the multiplex market growth.
The multiplex assay market is segmented on the basis of type, product, application, end user, and region. On the basis of type, the market is divided into protein based multiplex assay, nucleic acid-based multiplex assay, and cell-based multiplex assays. On the basis of product, the market is classified into reagents & consumables, instruments & accessories, and software & services. On the basis of application, the multiplex assay market is segregated into clinical diagnostics, research and development, and companion diagnostics.
On the basis of end user, the market is segregated into hospitals, clinical laboratories, research institutes, and pharmaceuticals & biotechnology companies. On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The major players profiled in the report are Abcam plc, Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., DiaSorin S.p.A. (Luminex Corporation), Illumina Inc., Meso Scale Diagnostics LLC, QIAGEN N.V., Randox Laboratories Ltd., Seegene Inc., Thermo Fisher Scientific Inc. These major players have adopted acquisition, agreement, expansion, partnership, product launch, product approval as key developmental strategy to improve the product portfolio of the multiplex assay market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the multiplex assay market analysis from 2022 to 2032 to identify the prevailing multiplex assay market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the multiplex assay market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global multiplex assay market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By End User
- Hospitals
- Clinical Laboratories
- Research Institutes
- Pharmaceutical and Biotechnology Companies
By Type
- Protein Based Multiplex Assays
- Nucleic Acid-Based Multiplex Assays
- Cell-based Multiplex Assays
By Product
- Reagents and Consumables
- Instruments and Accessories
- Software and Services
By Application
- Companion Diagnostics
- Clinical Diagnostics
- Research and Development
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Randox Laboratories Limited
- Qiagen N.V
- Seegene Inc
- Thermo Fisher Scientific Inc.
- Illumina Inc.
- Bio-Rad Laboratories, Inc.
- Abcam plc.
- Becton, Dickinson and Company
- MESO SCALE DIAGNOSTICS, LLC
- Diasorin S.p.A.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MULTIPLEX ASSAY MARKET, BY TYPE
CHAPTER 5: MULTIPLEX ASSAY MARKET, BY PRODUCT
CHAPTER 6: MULTIPLEX ASSAY MARKET, BY APPLICATION
CHAPTER 7: MULTIPLEX ASSAY MARKET, BY END USER
CHAPTER 8: MULTIPLEX ASSAY MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Randox Laboratories Limited
- Qiagen N.V
- Seegene Inc
- Thermo Fisher Scientific Inc.
- Illumina Inc.
- Bio-Rad Laboratories, Inc.
- Abcam plc.
- Becton, Dickinson and Company
- MESO SCALE DIAGNOSTICS, LLC
- Diasorin S.p.A.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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