Multiplex Assays Market to be Worth $6.24 Billion by 2030

Meticulous Research®—a leading global market research company, published a research report titled, ‘Multiplex Assays Market by Type (Protein [Bead, Planar], Nucleic Acid, Cell) Technology (Flow Cytometry, PCR, Immunoassay) Application (R&D, Diagnosis (Oncology, Cardiovascular, Infectious, Autoimmune Diseases) Product, End User - Global Forecast to 2030.’

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According to this latest publication from Meticulous Research®, the global multiplex assays market is projected to reach $6.24 billion by 2030 at a CAGR of 9%. The growth of this market is attributed to several factors, including growing awareness about early disease diagnosis, significant advantages of multiplex assays over traditional methods, increasing use of multiplex assays in drug discovery & development, and rising prevalence of chronic and infectious diseases. However, the high costs of multiplex assay equipment restrain the growth of this market. The growing need for high-throughput and automated laboratory systems and the increasing focus on personalized medicine are expected to generate growth opportunities for the players operating in this market. However, the shortage of skilled professionals and the risk of cross-reactivity are major challenges to market growth.

Key Players

The key players operating in the global multiplex assays market are Thermo Fisher Scientific, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Seegene, Inc. (South Korea), QIAGEN N.V. (Netherlands), PerkinElmer, Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Agilent Technologies, Inc. (U.S.), Abbott Laboratories (U.S.), Siemens Healthineers AG (Germany), Illumina, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Quanterix Corporation (U.S.), DiaSorin S.p.A. (Italy), and Merck KGaA (Germany).

Multiplex Assays Market: Future Outlook

The global multiplex assays market is segmented by Type (Protein Multiplex Assays [Bead-based Assays, Planar Assays], Nucleic Acid Multiplex Assays, Cell-based Multiplex Assays), Product (Consumables, Instruments, Software), Technology (Flow Cytometry, Multiplex Immunoassay, Multiplex Real-time PCR, Sequencing, Other Technologies), Application (Research & Development, Clinical Diagnosis [Infectious Diseases, Oncology, Cardiovascular Diseases, Autoimmune Diseases, Other Diseases]) and Geography. The study also evaluates industry competitors and analyzes their market share at global and regional levels.

Among all types studied in this report, in 2023, the protein multiplex assays segment is expected to account for the largest share of the multiplex assays market. Protein multiplex assays are increasingly used to study protein pathways and biomarker development. Some application areas of protein multiplex assays are clinical biomarker development, comprehensive proteomic surveys, validation of genomic discoveries, and studies of protein networks and pathways. Protein assays are also used in clinical trials as they offer quick analysis, reduce labor costs, and decrease the chances of manual error, which increases research efficiency.

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Among all products studied in this report, the consumables segment is expected to grow at the highest CAGR during the forecast period. The continuous advancements in the development of reagents and kits, the adoption of multiplex assays diagnostic kits for disease diagnosis, and ease of use are increasing the demand for consumables used in multiplex assays.

Among all technologies studied in this report, in 2023, the flow cytometry segment is expected to account for the largest share of the multiplex assays market. The large market share of this segment is attributed to factors such as the use of flow cytometry in clinical diagnosis for multiple pathogen detection and basic research, rapid multiparametric analysis, and technological advancements in flow cytometry.

Among all applications studied in this report, the research & development segment is expected to grow at the highest CAGR during the forecast period. The highest CAGR of this segment is attributed to increasing applications of multiplex assay in drug discovery, adoption of the assay in biomarker profiling, and use of multiplex assays in understanding disease mechanisms.

Among all end users studied in this report, the pharmaceutical and biotechnology companies segment is expected to account for the largest share of the multiplex assays market. The largest share of this segment is attributed to the increasing demand for new drugs and therapies, leading to extensive research and development activities, rising funding and investments in the pharmaceutical and biotech industry, and increasing healthcare expenditure. Furthermore, the pharmaceutical and biotechnology industries constantly strive to develop new drugs and therapies to address medical needs, further driving market growth.

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America), and the Middle East & Africa.

Among all regions studied in this report, Asia-Pacific is expected to grow at the highest CAGR during the forecast period. The highest CAGR of the region is attributed to advancements in healthcare infrastructure, development in the R&D sector, increasing number of diagnostic laboratories in the region, and advancements in the research sector in emerging economies of the region.

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Key questions answered in the report-

·  Which are the high-growth market segments in terms of type, product, technology, application, end user and regions/countries?

·  What was the historical market for multiplex assays across the globe?

·  What are the market forecasts and estimates for the period 2023–2030?

·  What are the major drivers, restraints, challenges, opportunities, and trends in the global multiplex assays market?

·  Who are the major players in the global multiplex assays market?

·  What is the competitive landscape, and who are the market leaders in the global multiplex assays market?

·  What are the recent developments in the multiplex assays market?

·  What are the different strategies adopted by the major players in the multiplex assays market?

·  What are the geographical trends and high growth regions/countries?

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