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
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.
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The report puts an emphasis on the information regarding the key players with a special focus on their company profile, business overview, recent advancements, product catalog, and strategic business plans. It provides a comprehensive overview of the strategic alliances in the market under taken by the key players such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches, brand promotions, and corporate deals, among others.
Key companies operating in the market and 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 Multiplex Assays market takes into account major geographical locations such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa to offer key insights into market growth, market size, market share, revenue growth, current and emerging trends, supply and demand ratio, import/export, consumer demand and behavior, and presence of key players in each region. The report offers an in-depth country wise analysis to impart better understanding of the market and its growth prospects.
Segments Covered in the report
Based On Product Services: (Revenue, USD Billion, 2018 - 2028)
- 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
Based On Technology: (Revenue, USD Billion, 2018 - 2028)
- Flow Cytometry
- Fluorescence Detection
- Multiplex RT-PCR
- Other Technologies
- Liquid chromatography–mass spectrometry (LC-MS)
- Colorimetric Detection
Based On Application: (Revenue, USD Billion, 2018 - 2028)
- Research Development
- Drug Discovery Development
- Biomarker Discovery and Validation
- Clinical Diagnostics
- Infectious Diseases
- Cardiovascular Diseases
- Autoimmune Disease
- Nervous System Disorders
- Metabolism Endocrinology Disorders
Based On End Use: (Revenue, USD Billion, 2018 - 2028)
- Pharmaceutical Biotechnology Companies
- Academic Research Institutes
- Reference Laboratories
- Other End Use
- Blood banks
- Forensic Labs
Key Regions Analyzed in the Report include:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Furthermore, it consists information about individual segment of the Multiplex Assays market based on the types and application. The report also offers insights about the key segments expected to register significant revenue growth over the forecast period and primary trends influencing their growth. It also offers CAGR and market share values for each segment to provide clear understanding of demand and trend in the global market.
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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