ID: MRFR/HC/4677-HCR | February 2021 | Region: Global | 90 pages
The multiplex assays market is expected to reach an approximate CAGR of 7.8% during the forecast period. An assay which simultaneously measures multiple analysts in a single cycle is known as a multiplex assay. Technological advancement is one of the driving factors for the growth of this market. The rapid development in nanotechnology has taken this to the next level of nanoarray, which represents the ultra-miniaturization version of the conventional microarray. Increasing awareness about the multifactorial nature of various diseases and pathological conditions such as cancer and Alzheimer disease has created a requirement to produce a cost-effective and time-saving measurement of multiple analysts in a single sample. This factor drives the multiplex assays market.
Reproducibility crisis and complex clinical trial procedures for multiplex assay products are limiting the growth of the market.
The multiplex assays market is segmented on the basis of products and services, types, technology, application, and end-user. On the basis of products and services, the multiplex assays market is segmented into consumable, instrument, and software and services. Based on types, the market is segmented into protein, nucleic acid, and cell-based multiplex assay. Further, protein multiplex assay is sub-segmented into planer protein assay and bead-based protein assay. Nucleic acid multiplex assay is further sub-segmented into planer nucleic acid assay, bead-based nucleic acid assay, and other nucleic acid assay. On the basis of technology, the multiplex assay market is further segmented into flow cytometry, fluorescence detection, luminescence, multiplex real-time PCR, and other technologies. Further on the basis of application, the market is segmented into research and development, clinical diagnostic, and other diseases. Research and development is further sub-segmented into drug discovery and development, biomarker discovery, and validation. Clinical diagnostic is further sub-segmented into infectious diseases, cancer, cardiovascular diseases, autoimmune diseases, nervous system disorders, and other diseases. Based on end-user, the market is segmented into pharmaceutical and biotechnology companies, hospital and research institutes, clinical laboratories, and other end-users.
Some of the key players in the multiplex assays market are Thermo Fisher Scientific Inc, Illumina Inc, Bio Rad Laboratories Inc, Qiagen, Abcam plc, BD, Merck Sharp & Dohme Corp, Agilent Technologies, Meso Scale Diagnostics LLC, Randox Laboratories Ltd, Quanterix, Bio-Techne, and Seegene Inc.
Regional Market Summary
Global Multiplex Assays Market Share (%), by Region, 2018
Sources: National Electronic Health Records Survey, U.S. Department of Health & Human Services, National Centre for Health Statistics
The multiplex assays market is divided into four major regions, namely, North America, Europe, Asia-Pacific, and the rest of the world. North America accounts for the largest share of the multiplex assays market owing to strong R&D activities in this region. The US is a leading country in biopharmaceutical research and development. The key factors that drive the growth of the market in this region are increase in patient population, the rise in the prevalence of Alzheimer disease, and a significant rise in research and development activities in pharmaceutical companies for the treatment of diseases such as cancer and Alzheimer.
Asia-Pacific is expected to register the highest CAGR during the forecast period. Factors influencing the growth of this region include increasing geriatric population, rising prevalence of cataract, and increasing prevalence of Alzheimer disease in this region.
The European region is projected to register the highest CAGR during the forecast period due to increasing geriatric population included in system illness and chronic infection.
The Middle East and Africa holds the least share in the global multiplex assay market due to the presence of stringent government policies and poor economies.
Market Segmentation and Key Market Players
Multiplex Assays Market, by Products & Services
Multiplex Assays market, by Type
Multiplex Assays Market, by Technology
Multiplex Assays Market, by Application
Multiplex Assays Market, by End-User
Multiplex Assays Market, by Region
Multiplex Assays Market, by Key Players
|Market Size||2027: Significant Value|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Products and Services, Types, Technology, Application and End-user|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Thermo Fisher Scientific Inc, Illumina Inc, Bio Rad Laboratories Inc, Qiagen, Abcam plc, BD, Merck Sharp & Dohme Corp, Agilent Technologies, Meso Scale Diagnostics LLC, Randox Laboratories Ltd, Quanterix, Bio-Techne, and Seegene Inc.|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||