The global multiplexed diagnostics market was valued at $10.7 billion in 2022, and is projected to reach $41.5 billion by 2032, growing at a CAGR of 14.5% from 2023 to 2032.Multiplexing is the process of simultaneously detecting or identifying multiple biomarkers in a single diagnostic test, which can be valuable for several different types of diseases. For instance, pharmacogenomic studies in patients with cardiovascular disease have indicated that the presence of polymorphisms affects response of a patient to various drugs. The multiplex detection of relevant biomarkers, hence, not only provides insight into the pathophysiology of cardiovascular disease, but also serves as a guide for the most efficient treatment option.
In addition, multiplex tests simultaneously analyze samples for multiple pathogens. Currently, available multiplex tests, including those from the life sciences company Thermo Fisher Scientific, leverage PCR techniques to selectively amplify genes specific to each virus of interest. For SARS-CoV-2, the test might amplify genes that code for the envelope protein (E gene) of the virus or the nucleocapsid protein (N gene). Targets may include virus specific matrix proteins as well as nucleocapsid proteins for Influenza A, B, and Respiratory syncytial virus (RSV), polymerase chain reaction (PCR).
Major factors that drive the growth of the global multiplexed diagnostics market include an increase in need for automated equipment and varied analytical methodologies, increase in incidence of disease outbreaks such as coronavirus and Ebola virus, and surge in technological innovations in assay design, detection methods, and data analysis techniques.
Furthermore, increase in R&D investment in pharmaceutical & biotechnology industries for the development of novel drug therapies and increase in prevalence of chronic diseases such as cancer, cardiovascular diseases, and autoimmune disorders are the major factors that increase the demand for multiplexed diagnostics tests kits and instruments and hence propel the growth of the market.
In addition, the increase in the number of key market players and the strategies they adopt for the development of technologically advanced multiplexed diagnostics products are the major factors that boost the growth of the multiplexed diagnostics market. For instance, in January 2023, Agilent Technologies, Inc. announced a partnership with Akoya Biosciences, Inc. to develop multiplex-immunohistochemistry diagnostic solutions for tissue analysis and to commercialize workflow solutions for multiplex assays in the clinical research market. Integrating Dako Omnis (auto-staining instrument) of Agilent and PhenoImager HT (imaging platform) of Akoya for multiplex chromogenic immunohistochemistry (mIHC) and immunofluorescent (mIF) assays create a singular end-to-end commercial workflow, including reagents, staining, imaging, and analysis.
However, the high cost associated with multiplexed diagnostic assay, and lack of skilled professionals to operate diagnostic tools and conduct multiplexed diagnostic assay restrain the growth of the multiplexed diagnostics market. On the contrary, the surge in the demand for novel home health monitoring systems such as increase in demand for xPOCT devices, which ensure the quality and performance requirements of in vitro diagnostics, performed in a short period by non-experts and increased use of personalized medicine are expected to provide additional opportunities for the multiplexed diagnostics market to grow during the forecast period.
The multiplexed diagnostics market is segmented into product type, application, end user, and region. On the basis of product type, the market is bifurcated into instruments & accessories and kits & reagents. On the basis of application, it is segregated into infectious disease, oncology, autoimmune disease, cardiac disease, allergies, and others. On the basis of end user, it is segmented into hospitals, diagnostic centers, and others. On the basis of region, it 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 Co-Diagnostics, Inc. Agilent Technologies, Inc., bioMérieux SA, Illumina Inc., Hologic, Inc. Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., Siemens Healthineers AG, F. Hoffmann-La Roche Ltd., and DiaSorin S.p.A. The key players such as bioMérieux SA, Hologic, Inc. F. Hoffmann-La Roche Ltd., Agilent Technologies Inc, Bio-Rad Laboratories and DiaSorin S.p.A have adopted product launch, product approval, acquisition, and partnership as major developmental strategies to improve the product portfolio.
In addition, multiplex tests simultaneously analyze samples for multiple pathogens. Currently, available multiplex tests, including those from the life sciences company Thermo Fisher Scientific, leverage PCR techniques to selectively amplify genes specific to each virus of interest. For SARS-CoV-2, the test might amplify genes that code for the envelope protein (E gene) of the virus or the nucleocapsid protein (N gene). Targets may include virus specific matrix proteins as well as nucleocapsid proteins for Influenza A, B, and Respiratory syncytial virus (RSV), polymerase chain reaction (PCR).
Major factors that drive the growth of the global multiplexed diagnostics market include an increase in need for automated equipment and varied analytical methodologies, increase in incidence of disease outbreaks such as coronavirus and Ebola virus, and surge in technological innovations in assay design, detection methods, and data analysis techniques.
Furthermore, increase in R&D investment in pharmaceutical & biotechnology industries for the development of novel drug therapies and increase in prevalence of chronic diseases such as cancer, cardiovascular diseases, and autoimmune disorders are the major factors that increase the demand for multiplexed diagnostics tests kits and instruments and hence propel the growth of the market.
In addition, the increase in the number of key market players and the strategies they adopt for the development of technologically advanced multiplexed diagnostics products are the major factors that boost the growth of the multiplexed diagnostics market. For instance, in January 2023, Agilent Technologies, Inc. announced a partnership with Akoya Biosciences, Inc. to develop multiplex-immunohistochemistry diagnostic solutions for tissue analysis and to commercialize workflow solutions for multiplex assays in the clinical research market. Integrating Dako Omnis (auto-staining instrument) of Agilent and PhenoImager HT (imaging platform) of Akoya for multiplex chromogenic immunohistochemistry (mIHC) and immunofluorescent (mIF) assays create a singular end-to-end commercial workflow, including reagents, staining, imaging, and analysis.
However, the high cost associated with multiplexed diagnostic assay, and lack of skilled professionals to operate diagnostic tools and conduct multiplexed diagnostic assay restrain the growth of the multiplexed diagnostics market. On the contrary, the surge in the demand for novel home health monitoring systems such as increase in demand for xPOCT devices, which ensure the quality and performance requirements of in vitro diagnostics, performed in a short period by non-experts and increased use of personalized medicine are expected to provide additional opportunities for the multiplexed diagnostics market to grow during the forecast period.
The multiplexed diagnostics market is segmented into product type, application, end user, and region. On the basis of product type, the market is bifurcated into instruments & accessories and kits & reagents. On the basis of application, it is segregated into infectious disease, oncology, autoimmune disease, cardiac disease, allergies, and others. On the basis of end user, it is segmented into hospitals, diagnostic centers, and others. On the basis of region, it 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 Co-Diagnostics, Inc. Agilent Technologies, Inc., bioMérieux SA, Illumina Inc., Hologic, Inc. Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., Siemens Healthineers AG, F. Hoffmann-La Roche Ltd., and DiaSorin S.p.A. The key players such as bioMérieux SA, Hologic, Inc. F. Hoffmann-La Roche Ltd., Agilent Technologies Inc, Bio-Rad Laboratories and DiaSorin S.p.A have adopted product launch, product approval, acquisition, and partnership as major developmental strategies to improve the product portfolio.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the multiplexed diagnostics market analysis from 2022 to 2032 to identify the prevailing multiplexed diagnostics 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 multiplexed diagnostics 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 multiplexed diagnostics market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Product Type
- Instruments and Accessories
- Kits and Reagents
By Application
- Infectious Disease
- Oncology
- Autoimmune Diseases
- Cardiac Diseases
- Allergies
- Others
By End User
- Hospitals
- Diagnostic Centers
- Others
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
- Key Market Players
- Agilent Technologies, Inc.
- Hologic Inc.
- Thermo Fisher Scientific Inc.
- Siemens Healthineers AG
- BioMerieux SA
- F. Hoffmann-La Roche Ltd.
- Diasorin S.p.A.
- Illumina Inc.
- Bio-Rad Laboratories Inc
- Co-Diagnostics, Inc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MULTIPLEXED DIAGNOSTICS MARKET, BY PRODUCT TYPE
CHAPTER 5: MULTIPLEXED DIAGNOSTICS MARKET, BY APPLICATION
CHAPTER 6: MULTIPLEXED DIAGNOSTICS MARKET, BY END USER
CHAPTER 7: MULTIPLEXED DIAGNOSTICS MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the multiplexed diagnostics market was valued at $10.7 billion in 2022, and is estimated to reach $41.5 billion by 2032, growing at a CAGR of 14.5% from 2023 to 2032. Multiplexed diagnostics refers to a sophisticated technique used in medical and scientific fields to simultaneously analyze multiple parameters within a single diagnostic test. Multiplexed diagnostics allow for the parallel detection and quantification of various biomarkers, genes, proteins, or other analytes by combining several assays or tests into a single platform. This approach optimizes resource utilization, saves time, and reduces sample requirements, making it particularly valuable in high-throughput environments.Key factors driving the growth of the multiplexed diagnostics market include a rise in prevalence of chronic disease, technological advancements in multiplexed diagnostics products and growing demand for personalized medicine.
The growth in demand for personalized medicine has fueled a significant expansion in the field of multiplexed diagnostics. There has been a steady rise in demand for personalized medicine due to its potential to improve patient outcomes and minimize adverse effects.
Moreover, the various advantages offered by multiplexed diagnostics such as cost effective, and time efficient over traditional single-marker tests are one of the major factors that propel the growth of the market. For instance, multiplexed diagnostics enable early disease detection, risk assessment, and treatment monitoring, which is especially critical in conditions such as cancer. The ability to simultaneously assess multiple biomarkers, such as genes, proteins, and metabolites, enhances diagnostic accuracy.
Furthermore, the pharmaceutical industry benefits from multiplexed diagnostics as it aids in patient stratification for clinical trials, enhancing drug development success rates. As a result, pharmaceutical companies have increasingly incorporated multiplexed diagnostics in their drug discovery and development processes. In addition, the surge in demand for personalized medicine is a driving force behind the rapid growth of multiplexed diagnostics. The ability to comprehensively analyze multiple biomarkers in a single sample aligns with the individualized treatment approach that personalized medicine advocates. Multiplexed diagnostics are poised to revolutionize healthcare by enabling earlier and more accurate diagnoses, tailoring treatments, with a projected exponential market growth, and improving patient outcomes.
The market also offers growth opportunities to the key players in the market. Multiplexed diagnostic technology is in demand because of its different therapeutic applications, such as it can be helpful for drug development and clinical trials and at the same time it can also be used in cancer and infectious disease monitoring. In addition, the surge in awareness regarding emerging applications of multiplexed diagnostics fuels the growth of the multiplexed diagnostics market.
Moreover, rise in the demand of personalized medicine and combining multiplexed diagnostic data with advanced data analytics and AI is expected to yield deeper insights and predictive models for disease outcomes and treatment responses, these are the factors that have increased the demand for multiplexed diagnostics and hence propel the growth of the market during the forecast period. For instance, according to a report published by Medical Device Network in January 2023, ALiA BioTech group has announced the deployment of its Lab-on-Chip diagnostic platform, which performs multiplex testing using a single biochip. The new next-generation rapid diagnostic platform can provide up to 30 results from a single drop of bodily fluid, such as blood, serum, swab, or urine, in 15 minutes. It integrates several laboratory functions in a single chip, which is a miniaturized diagnostic laboratory interface that has been specifically designed for point-of-care use.
Furthermore, in the surge in the application of multiplexed diagnostics in infectious disease management, multiplexed tests rapidly identify multiple pathogens causing similar symptoms, crucial for timely and accurate disease control. This was particularly highlighted during the COVID-19 pandemic, where multiplexed diagnostic platforms were rapidly developed to simultaneously detect SARS-CoV-2 and other respiratory viruses. Thus, all these factors are collectively expected to open new avenues for the growth of the multiplexed diagnostics market during the forecast period.
The multiplexed diagnostics market is segmented into product type, application, end user, and region. Based on product type, the market is bifurcated into instruments & accessories and kits & reagents. Based on application, it is segregated into infectious disease, oncology, autoimmune disease, cardiac disease, allergies, and others. Based on end user, it is segmented into hospitals, diagnostic centers, and others. On the basis of region, it 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 Co-Diagnostics, Inc. Agilent Technologies, Inc., bioMérieux SA, Illumina Inc., Hologic, Inc. Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., Siemens Healthineers AG, F. Hoffmann-La Roche Ltd., and DiaSorin S.p.A.
Key Market Insights
By product type, the kits & reagents segment is expected to experience rapid growth in the market and is estimated to reach $24.09 billion by 2032, with a CAGR of 14.8%. However, the instruments & accessories segment is estimated to be growing with a significant CAGR of 14.1% during the forecast period.By application, the infectious disease segment dominated the global market. However, the autoimmune disorders segment is expected to grow with a significant CAGR of 14.7% during the forecast period.
By end user, the hospitals segment dominated the global market. However, the diagnostics centers segment is expected to grow with a significant CAGR of 14.2% during the forecast period.
Based on region, North America garnered the largest revenue share in 2022, whereas Asia-Pacific is anticipated to grow at the highest CAGR of 15.6% during the forecast period.
Companies Mentioned
- Agilent Technologies, Inc.
- Hologic Inc.
- Thermo Fisher Scientific Inc.
- Siemens Healthineers AG
- BioMerieux SA
- F. Hoffmann-La Roche Ltd.
- Diasorin S.p.A.
- Illumina Inc.
- Bio-Rad Laboratories Inc
- Co-Diagnostics, Inc.
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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