The global multiplex assays market accounted for $73.2 million in 2018, and is expected to reach $123.1 million by 2026, growing at a CAGR of 6.6% from 2019 to 2026.
Multiplex immunoassays conjugates assays for several target analytes in a single reaction volume, minimizing workflow and sample volume difficulties. In addition, this assay provides a gain in assay dynamic range, and 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 lesser time as compared to conventional methods such as singleplex ELISA. Multiplex assays finds its application in pathogen identification, mutation analysis, RNA detection, gene detection analysis, linkage analysis, forensic studies, and others.
Multiplex assays hold enormous potential in the R&D of drugs for the treatment of diseases, such as cancer and cardiovascular diseases that drives the market growth for theses assays. For instance, bead-based Luminex xMAP multiplex assay provides a platform for cancer biomarker assays, which are compatible with plasma, serum, cultured cells, and other biological samples. In addition, surge in adoption of multiplex assays to reduce operation costs and rise in adoption of personalized medicines are anticipated to boost the market growth.
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However, high capital investment and dearth of skilled labors are the major factors that hinder the market growth. On the contrary, the emerging economies of Asia-Pacific and LAMEA regions offer lucrative growth opportunities for the expansion of multiplex assays market, due to improvement in healthcare infrastructure in these regions and increase in demand for better healthcare services from majority of the patient population.
The global multiplex assays market in this report is studied based on type, product, technology, application, end user, and region. On the basis of type, the market is divided into nucleic acid-based, protein-based multiplex assays, and others. By product, it is classified into multiplex assay reagents & consumables, multiplex assay instruments & accessories, and multiplex assay software & services.
Depending on the technology, it is fragmented into nucleic acid-based, protein-based multiplex assays, and others. As per application, it is segregated into companion diagnostics, research & development, clinical diagnostics, and others. According to end-user, it is classified into hospitals, clinical laboratories, research institutes, and pharmaceuticals & biotechnological companies. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
ü The study provides an in-depth analysis of the global multiplex assay market along with the current trends and future estimations to elucidate the imminent investment pockets.
ü A comprehensive analysis of the factors that drive and restrict the market growth is provided.
ü A comprehensive quantitative analysis of the industry is provided from 2018 to 2025 to assist stakeholders to capitalize on the prevailing market opportunities.
ü An extensive analysis of the key segments of the industry helps to understand the global trends in the multiplex assay market.
ü Key players and their strategies are provided to understand the competitive outlook of the industry.
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ü KEY MARKET SEGMENTS
• Nucleic Acid-based Multiplex Assays
• Protein-based Multiplex Assays
• Multiplex Assay Reagents & Consumables
• Multiplex Assay Instruments & Accessories
• Multiplex Assay Software & Services
• Multiplex PCR
• Multiplex Protein Microarray
• Companion Diagnostics
• Research & Development
• Clinical Diagnostics
• Clinical Laboratories
• Research Institutes
• Pharmaceuticals & Biotechnological Companies
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o North America
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Saudi Arabia
• South Africa
• Rest of LAMEA
KEY MARKET PLAYERS
• Luminex Corporation
• Thermo Fisher Scientific Inc.
• Illumina Inc.
• Bio-Rad Laboratories Inc.
• QIAGEN N.V.
• Becton, Dickinson, and Company
• Abcam PLC
• Seegene Inc.
• Randox Laboratories Ltd.
The other players in the value chain include (profiles not included in the report)
• Merck KGaA
• Agilent Technologies
• Sysmex Corporation
• Siemens Healthcare GmbH
• F. Hoffmann-La Roche Ltd
• Johnson & Johnson