Increasing research and development activities, growing implementation of precision medicine, and surging preference for multiplex assays over conventional assays are some of the key factors driving global market revenue growth
Market size: USD 2.72 billion in 2020, Market Growth: CAGR of 7.9%, Market Trends: Technological developments in multiplex assays and advancements in nanotechnology
The global multiplex assays market size is expected to reach USD 4.91 billion by 2028 and register a CAGR of 7.9% over the forecast period, according to the latest report by Reports and Data. Increasing prevalence of cancer, Alzheimer's, and other chronic diseases, rising adoption of personalized medicines, and increasing implementation of multiplex assays are some key factors boosting global market revenue growth.
Multiple assays are a type of immunoassays that help in quantifying multiple analytes in a single reaction cycle. These are derived from ELISA and are more preferred over singleplex ELISA as they are highly efficient, have greater throughput, and are time-efficient due to ability or enable analysis of multiple samples in a single run.
Key companies profiled in the report include
Abbott Laboratories, Hoffmann-La Roche, Siemens Healthineers, Thermo Fisher Scientific, Danaher Corporation, Bio-Rad Laboratories, Biomérieux, Bühlmann Laboratories, Sekisui Medical, and Randox Laboratories
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The report is an investigative study that determines market growth and market scope on the basis of market trends, consumer behavior shifts, consumption and production patterns, product portfolio offered by the market, growth rate, drivers and constraints, financial positions, and existing challenges and limitations of the Multiplex Assays market.
The report discusses in detail the global production capacity, demand and supply ratio, market dynamics, and comprehensive analysis of the competitive landscape. It provides an industry-wide analysis of the market share of each players along with their business portfolio, production and manufacturing capacity, product portfolio, business expansion plans, financial standing, and strategic alliances such as mergers and acquisitions, joint ventures, and collaborations, among others.
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The regional bifurcation of the market analyzes key market segments such as North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The report discusses in detail the market growth, market size, revenue growth, market share, production and consumption, demand and supply, current and emerging trends, and technological developments in each region.
The key geographical regions analyzed in the market report are:
- North America (U.S.A., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Multiplex Assays Market Segmentation based on Types:
Based On Product Services: (Revenue, USD Billion, 2018 - 2028)
- Consumables
- Instruments
- Software Services
Based On Type: (Revenue, USD Billion, 2018 - 2028)
- Protein Multiplex Assays
- Planar Protein Assays
- Bead-based Protein Assays
- Other Protein Assays
- Nucleic Acid Assays
- Planar Nucleic Acid Assays
- Bead-based Nucleic Acid Assays
- Other Nucleic Acid Assays
- Cell-based Assays
Based On Class of Drug: (Revenue, USD Billion, 2018 – 2028
- Antiepileptic Drugs
- Antibiotic Drugs
- Immunosuppressant Drugs
- Antiarrhythmic Drugs
- Bronchodilator Drugs
- Psychoactive Drugs
- Others
Based On Technology: (Revenue, USD Billion, 2018 - 2028)
- Flow Cytometry
- Fluorescence Detection
- Luminescence
- Multiplex RT-PCR
- Other Technologies
- Liquid chromatography–mass spectrometry (LC-MS)
- dPCR
- Colorimetric Detection
Based On Application: (Revenue, USD Billion, 2018 - 2028)
- Research Development
- Drug Discovery Development
- Biomarker Discovery and Validation
- Clinical Diagnostics
- Infectious Diseases
- Cancer
- Cardiovascular Diseases
- Autoimmune Disease
- Nervous System Disorders
- Metabolism Endocrinology Disorders
Based On End Use: (Revenue, USD Billion, 2018 - 2028)
- Pharmaceutical Biotechnology Companies
- Hospitals
- Academic Research Institutes
- Reference Laboratories
- Other End Use
- Blood banks
- CROs
- Forensic Labs
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Some key highlights in the report:
- In context to end use, the hospital segment accounted for largest market share in 2020 and is expected to account for fastest CAGR during the period owing to high rate of diagnostic testing in hospitals, availability of well-trained staff round the clock, and quick accessibility as compared to reference laboratories.
- On the basis of type, the protein-based assays segment revenue is projected to expand at fastest CAGR over the forecast period owing to rising adoption of these assays in research-based projects.
- The market in Europe is expected to account for significant revenue share between 2021 and 2028 due to growing geriatric population, increasing chronic disorders, rapidly increasing clinical trials, and beneficial government initiatives to promote multiplex assays in the region.
- The market in Asia Pacific is projected to register fastest revenue CAGR of 8.5% throughout the forecast period owing to various factors such as increasing geriatric patient pool, growing prevalence of Alzheimer's disease and cataract, and high revenue contribution from India and China.
- Latin America market revenue is expected to expand at a steady rate due to low penetration of multiplex assay technology and strict government policies in countries in the region.
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