Singleplex Immunoassay Market: Increasing prevalence of chronic diseases are projected to boost the market growth at a healthy CAGR of ~ 9.30%

Pune, India, May 2023/MRFR Press Release/- Market Research Future has published a half-cooked research report on the global singleplex immunoassay market.

Market Highlights

The singleplex immunoassay market is expected to register USD 260 Million at a CAGR ~ 9.30 % during the forecast period of 2022–2030.

Immunoassays are highly adaptable which are designed to detect the binding of the specific antibody to the target analyte. Singleplex immunoassays are generally used to analyze multiple intracellular and extracellular proteins and gene expression quantification.

The global singleplex immunoassay market is driven by various factors such as growth in pharmaceutical and biotechnology sector, growing prevalence of chronic diseases, and raising awareness about immunoassay. Moreover, increased focus on diagnostic testing and growing government assistance are fueling the growth of the global singleplex immunoassay market. Additionally, many prominent players are engaged in the development of singleplex immunoassays products to maintain their market position. For instance, BioVendor develops and markets Q-Plex Human iL-7 kit for singleplex immunoassays.

On the other hand, stringent FDA regulations and emergence of other immunoassay technologies many hamper the growth of the market during the forecast period 2022-2030.

Regional Analysis

The global singleplex immunoassay market consists of four regions: Americas, Europe, Asia Pacific and the Middle East & Africa. Americas is expected to account for the largest market share owing to the presence of a large number of market players, increasing the prevalence of cancer, immunological diseases, and metabolic diseases. For instance, in 2017, the American Cancer Society estimated that approximately 1,688,780 new cancer cases were diagnosed in America. Europe is anticipated to hold the second position in the market owing to the increasing prevalence of chronic diseases, funding's provided by the government, and private organizations towards research & development. Asia Pacific is the fastest growing region in the global singleplex immunoassay market owing to the growing patient pool, high incidence of chronic diseases, developing healthcare infrastructure and increasing research & development activities in the biotechnology sector, and rising healthcare expenditure. The Middle East and Africa are anticipated to grow steadily due to the presence of stringent government policies and poor economies, especially in the Africa region.

Explore In-depth Details: Singleplex Immunoassay Market Research Report

Segmentation

The global singleplex immunoassay market is segmented on the basis of the product and service, type, technology, application, and end user. On the basis of the product and services, the market is classified as consumables, instruments, and others. The global singleplex immunoassay market on the basis of the type is segmented as protein-based assays, nucleic acid-based assays, cell-based assays and others. On the basis of technology, the market is segmented into flow cytometry, fluorescence detection, and others. The global singleplex immunoassay market, by application, is segmented into research and development, clinical diagnostics, and others. The research and development are further segmented into drug discovery & development and biomarker discovery and validation. The clinical diagnostics are further segmented into infectious diseases, cancer, cardiovascular diseases, autoimmune diseases, nervous system disorders, and metabolism & endocrinology disorders. On the basis of the end user, the global singleplex immunoassay market is segmented as pharmaceutical & biotechnology companies, hospitals & research institutes, reference laboratories and others.

Global Singleplex Immunoassay Market Key Players

Luminex, Thermo Fisher Scientific, Illumina, Bio-Rad Laboratories, QIAGEN N.V, Abcam, Becton Dickinson and Company, Merck Life sciences, Agilent Technologies, BioVendor, Quanterix, Bio-Techne, Olink, Seegene are some prominent players in this market.