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. However, high capital investment and dearth of skilled labors are the major factors that hinder the market growth.
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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 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.
The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
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KEY BENEFITS FOR STAKEHOLDERS
? 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.
? A comprehensive analysis of the factors that drive and restrict the market growth is provided.
? A comprehensive quantitative analysis of the industry is provided from 2018 to 2025 to assist stakeholders to capitalize on the prevailing market opportunities.
? An extensive analysis of the key segments of the industry helps to understand the global trends in the multiplex assay market.
? Key players and their strategies are provided to understand the competitive outlook of the industry.
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
> Quanterix
> Olink
> Sysmex Corporation
> Siemens Healthcare GmbH
> F. Hoffmann-La Roche Ltd
> Johnson & Johnson
? KEY MARKET SEGMENTS
By Type
> Nucleic Acid-based Multiplex Assays
> Protein-based Multiplex Assays
> Others
By Product
> Multiplex Assay Reagents & Consumables
> Multiplex Assay Instruments & Accessories
> Multiplex Assay Software & Services
By Technology
> Multiplex PCR
> Multiplex Protein Microarray
> Others
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By Application
> Companion Diagnostics
> Research & Development
> Clinical Diagnostics
End User
> Hospitals
> Clinical Laboratories
> Research Institutes
> Pharmaceuticals & Biotechnological Companies
By Region
o North America
> U.S.
> Canada
> Mexico
o Europe
> UK
> France
> Germany
> Italy
> Spain
> Rest of Europe
o Asia-Pacific
> Japan
> China
> India
> South Korea
> Australia
> Rest of Asia-Pacific
o LAMEA
> Saudi Arabia
> South Africa
> Brazil
> Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Some of the Key Questions Answered in this Report:
- What is the Market dimension at the regional and country-level?
- What are the key drivers, restraints, opportunities, and challenges of the Market, and how they are anticipated to influence the market?
- What is the international (North America, Europe, Asia-Pacific, South America, Middle East and Africa) income value, manufacturing value, consumption value, import and export of Market?
- Who are the world key producers of the Market Industry? How is their working state of affairs (capacity, production, sales, price, cost, gross, and revenue)?
- What are the Market possibilities and threats confronted via the carriers in the world Market Industry?
- Which application/end-user or product kind may also be seeking for incremental boom prospects? What is the market share of every kind and application?
- What targeted method and constraints are keeping the Market?
- What are the distinct sales, marketing, and distribution channels in the world industry?
- What are the upstream uncooked substances and manufacturing gear of Market alongside with the manufacturing technique of Market?
- What are the key market tendencies impacting the increase of the Market?
- Economic have an impact on the Market enterprise and improvement vogue of the Market industry.
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