Multiplex Assays Market by Product (Consumables, Instruments, and Softwares), Type (Nucleic Acid, Protein and Cell-Based), Technology (Flow Cytometry, Luminescence, Fluorescence Detection, Luminescence, Multiplex Real-Time PCR, and Others), Application (Research & Development and Diagnosis), End User (Pharma & Biotech, Diagnostic Laboratory, Hospitals, and Others) and Geography: Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00027064 | Pages: 100 | Industry: Biotechnology | Date: Oct 2022 | Type: Global

The market crossed the US$ 3.0 billion mark in 2022 and is expected to hit US$ 5.0 billion by 2030, recording a CAGR of 7.5% during the forecast period.

The Multiplex Assays market has been significantly growing with an increased demand for companion diagnostics.

Several other factors include the increasing prevalence of chronic diseases, rising awareness of the diagnosis of diseases, and the unmet need for effective analytical platforms in research and clinical diagnostics to reduce operational costs and the time taken for diagnosis. In 2021, the flow cytometry segment held the maximum share in the global market which is mainly due to the wide range of applications of flow cytometry in detection, measurement of protein expression, and identification of various cell types. 

Within the report, the market is segmented into product, type, technology, application, end user, and geography. By product, the market is further segmented into consumables, instruments, and software. On the basis of type, the market is segmented into nucleic acid, protein, and cell-based. By technology, the market is categorized into flow cytometry, luminescence, fluorescence detection, luminescence, multiplex real-time PCR, and others. Based on application, the market is divided into research & development and diagnosis. Based on end user, the market is divided into pharma & biotech, diagnostic laboratory, hospitals, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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Rising demand for high-throughput and automated systems will Boost Market Growth

Multiplex assay is a novel procedure that simultaneously detects and analyzes various analytes such as proteins, growth factors, cytokines, chemokines, and other biomolecules. The assay is utilized to amplify multiple targets in a polymerase chain reaction (PCR) and gather more information from minute quantities of proteins or other analytes in less time than conventional methods such as ELISA. These assays are widely adopted for identifying the pathogen, analysis of mutation, detecting RNA, forensic studies, and analysis of genes and linkage.

Multiple biomarker analysis has a wide range of applications in cancer, autoimmune diseases, and neurodegenerative diseases. Many biomarkers are being discovered and validated, and there is a higher probability of developing new diagnostic tests. The introduction of the latest technology of automated multiplex assay instruments is also expected to drive market growth with their high efficiency and speed of delivering accurate multiplex assay test results.

Increasing incidences of chronic diseases is one of the major factors accelerating market growth.

The increased prevalence of the geriatric population associated with the rapid surge in chronic disease cases is a major factor boosting the market's growth. The surge in elderly people is mainly due to advancements in healthcare facilities due to rising research and development activities in the healthcare sector. Moreover, the outbreak of COVID-19 has also opened new avenues for the biotechnology company to invest in the multiplex assays market. Many companies have initiated collaborations to develop effective diagnostic methods using multiplex assays for COVID-19 patients. Apart from this, increasing demand for multiplex assays in research and development activities to study the mechanism of chronic diseases and find a proper treatment option is further likely to accelerate market growth.

Recent strategic developments in the multiplex assays market

The multiplex assays market has undergone several significant developments, and a few of these have been mentioned below:

  • In August 2021, Becton, Dickinson and Company introduced a new and fully automated high-throughput diagnostic system, BD COR System. The system utilizes robotics and sample management software algorithms to set a new standard in automation for infectious disease molecular testing in laboratories.
  • In  April 2021, Illumina acquired GRAIL, a company focusing on life-saving early detection of multiple cancers.
  • In February 2021, Thermo Fisher Scientific acquired Mesa Biotech, a privately held point-of-care molecular diagnostic company.

Several players drive the multiplex assays market by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Abbott Laboratories, Hoffmann-La Roche, Siemens Healthineers, Thermo Fisher Scientific, Danaher Corporation, Bio-Rad Laboratories, Biomérieux, Bühlmann Laboratories, Sekisui Medical, and Randox Laboratories is among the prominent players operating in the market.

Target audience for the report:

  • Drug developing companies
  • Contract development and manufacturing organization,
  • Clinical diagnostics -related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policymakers
  • Venture capitalists, private equity firms, and start-up companies
  • Drug distributors and sales firms
  • End users of drug discovery
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Product:
    • Consumables
    • Instruments
    • Softwares
  • Type:
    • Nucleic Acid
    • Protein
    • Cell-Based
  • Technology:
    • Flow Cytometry
    • Luminescence
    • Fluorescence Detection
    • Luminescence
    • Multiplex Real-Time PCR
    • Others
  • Application:
    • Research & Development
    • Diagnosis
  • End User:
    • Pharma & Biotech
    • Diagnostic Laboratory
    • Hospitals
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Abbott Laboratories
    • Hoffmann-La Roche
    • Siemens Healthineers
    • Thermo Fisher Scientific
    • Danaher Corporation
    • Bio-Rad Laboratories
    • Biomérieux
    • Bühlmann Laboratories
    • Sekisui Medical
    • Randox Laboratories

The List of Companies
- Abbott Laboratories
- Hoffmann-La Roche
- Siemens Healthineers
- Thermo Fisher Scientific
- Danaher Corporation
- Bio-Rad Laboratories
- Biom?rieux
- B?hlmann Laboratories
- Sekisui Medical
- Randox Laboratories

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