Multiplex Assays Market
Multiplex Assays Market Forecasts to 2030 - Global Analysis By Product (Instruments, Consumables and Software & Services), Type (Protein Based Multiplex Assays, Nucleic Acid Multiplex Assays and Cell-based Multiplex Assays), Technology, Application, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $3.8 BN |
|
Projected Year Value (2030) |
US $7.9 BN |
|
CAGR (2023 - 2030) |
10.8% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Multiplex Assays Market is accounted for $3.8 billion in 2023 and is expected to reach $7.9 billion by 2030 growing at a CAGR of 10.8% during the forecast period. A multiplex assay is a lab technique that measures several analytes, such as proteins, nucleic acids, or other molecules, simultaneously in a single biological sample. This lab technique is widely used in many areas of biology, medicine, and diagnostics and enables researchers to extract more information from a single sample. Hospitals, clinical laboratories, research facilities, and pharmaceutical and biotechnological companies all frequently use the multiplex assay technique.
According to the report published by WHO in July 2023, each year there are an estimated 374 million new infections with 1 of 4 curable, more than 500 million people 15–49 years of age are estimated to have a genital infection with herpes simplex virus (HSV or herpes).
Market Dynamics:
Driver:
Advances in multiplex assay technologies
Multiplex assays have revolutionized research and diagnosis, such as PCR and immunoassays. These innovative methods save time and money by identifying numerous analytes in a single sample. Antibodies are used in immunoassays to identify and quantify target analytes. With multiplex immunoassays, numerous biomarkers, cytokines, or analytes are assessed in a single sample. This enhances knowledge of illness while saving time and money. Fluorescently tagged primers and probes may amplify and detect multiple target sequences in a single reaction, enabling high-throughput screening of multiple analytes.
Restraint:
High cost
The initial investment in multiplex assay equipment is high. Despite long-term savings and advantages, the initial investment costs may restrain the small-scale use of multiplex assays to a certain extent. The variable costs of the reagents needed and those fixed by the suppliers thereof add to the overall expenditure. Furthermore, maintenance and insurance, laboratory supervision, and overhead costs (including utilities, space, and administration) are also additional expenses. As a result, high instrument costs are a major factor limiting the wider adoption of multiplex assays.
Opportunity:
Expansion of the pharmaceutical and biotechnology industries
The growth of the multiplex assay market has been significantly fuelled by the expansion of the pharmaceutical and biotechnology industries. Advanced diagnostic tools play a critical role in supporting research, drug development, and clinical applications in these industries. Moreover, because multiplex assays allow for the simultaneous analysis of multiple biomarkers in a single sample, they are essential to both fields. Multiplex assays are becoming more and more essential in a variety of biotechnology and pharmaceutical applications due to this capability.
Threat:
Data security concerns
Data security concerns pose significant risks to the multiplex assay market. The risk of unauthorised access, breaches, or misuse is elevated due to the sensitive nature of the clinical and biological data used in multiplex assessments. Stringent data protection regulations in the healthcare and research sectors require robust cyber security measures. The potential harm to research and patient data hinders market acceptance and erodes confidence among stakeholders. Thus, market growth is hampered.
Covid-19 Impact
The market has been greatly and positively impacted by COVID-19. Multiplex assays, such as the SARS-CoV-2 assay, were used to diagnose COVID during this pandemic phase. During the pandemic, the demand for multiplex assays skyrocketed as healthcare systems worldwide scrambled to expand testing capabilities and improve efficiency. The FDA has granted approval to a number of companies, which has further paved the way for the market's expansion. During the pandemic, multiplex assay manufacturers have introduced a number of assays, which has increased the market's growth rate.
The flow cytometry segment is expected to be the largest during the forecast period
The flow cytometry segment is estimated to hold the largest share. Flow cytometry provides major advantages in terms of speed, sensitivity, and accuracy and allows for the simultaneous analysis of multiple parameters at the single-cell level. The flow cytometry segment is a leading technology in the market because of its capacity to generate large amounts of data and offer high-throughput analysis. Customers are more likely to choose devices like flow cytometry that can deliver thorough and dependable results due to the rising demand for personalized medicine and precise disease diagnosis. In the upcoming years, the multiplex assay market is anticipated to grow at the fastest rate in the flow cytometry segment.
The research & development segment is expected to have the highest CAGR during the forecast period
The research & development segment is anticipated to have lucrative growth during the forecast period Multiplex assays are frequently used in research settings to shed light on intricate biological processes, illness mechanisms, and medication development. The research and development sector is a market leader because it can supply important data for scientific investigations and pharmaceutical innovations. Customers are increasingly willing to invest in research and development projects that can result in novel treatments due to the rising incidence of complex diseases and the demand for cutting-edge therapeutic solutions. In the multiplex assay market, the research and development segment is anticipated to grow at the quickest rate.
Region with largest share:
North America commanded the largest market share during the extrapolated period owing to the high rate of adoption of multiplex assay goods and services as well as the notable rise in capital income in developed nations. The region's access to recently released goods and sophisticated healthcare systems also contribute to the market's expansion. Additionally, the market is expanding due to the presence of major players, R&D facilities, high levels of medical tourism, and strong purchasing power.
Region with highest CAGR:
Asia Pacific is expected to witness profitable growth over the projection period, due to the rise in the number of people with infectious and chronic illnesses, the growing awareness of the benefits of using multiplex assay goods and services, and the rising purchasing power of highly populated nations like China and India. Additionally, the region's market is growing because of things like new major players entering the market, rising per capita spending, and more government initiatives to improve the region's healthcare infrastructure.
Key players in the market
Some of the key players in the Multiplex Assays Market include Abbott Laboratories, Thermo Fisher Scientific, Siemens Healthineers, Danaher Corporation, Hoffmann-La Roche, Biomerieux, Bio-Rad Laboratories, Sekisui Medical, Buhlmann Laboratories, Randox Laboratories, Merck Sharp & Dohme Corp, Illumina Inc, Qiagen, Abcam plc, Agilent Technologies and Meso Scale Diagnostics LLC.
Key Developments:
In July 2023, QIAGEN announced that the expansion of its digital PCR (dPCR) offering for the development of cell and gene therapies in the biopharma industry.
In June 2023, Bio-Rad Laboratories, Inc., a global leader in life science research and clinical diagnostic products, announced that it has reached an agreement to acquire all of the outstanding shares of Curiosity Diagnostics, Sp. Z. o. o. from Scope Fluidics, S.A., a Warsaw, Poland, based developer of the PCR ONE technology for rapid, automated detection of infections via highly multiplexed PCR assays.
Products Covered:
• Instruments
• Consumables
• Software & Services
Types Covered:
• Protein Based Multiplex Assays
• Nucleic Acid Multiplex Assays
• Cell-based Multiplex Assays
Technologies Covered:
• Luminescence
• Flow Cytometry
• Multiplex Real-Time PCR
• Fluorescence Detection
• Other Technologies
Applications Covered:
• Research & Development
• Clinical Diagnostics
End Users Covered:
• Hospitals & Diagnostic Laboratories
• Pharmaceutical & Biotechnology Companies
• Academic Institutes
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Multiplex Assays Market, By Product
5.1 Introduction
5.2 Instruments
5.3 Consumables
5.4 Software & Services
6 Global Multiplex Assays Market, By Type
6.1 Introduction
6.2 Protein Based Multiplex Assays
6.2.1 Bead-Based Protein Assays
6.2.2 Planar Protein Assays
6.2.3 Other Protein Multiplex Assays
6.3 Nucleic Acid Multiplex Assays
6.3.1 Bead-Based Nucleic Acid Assays
6.3.2 Planar Nucleic Acid Assays
6.3.3 Other Nucleic Acid Multiplex Assays
6.4 Cell-based Multiplex Assays
7 Global Multiplex Assays Market, By Technology
7.1 Introduction
7.2 Luminescence
7.3 Flow Cytometry
7.4 Multiplex Real-Time PCR
7.5 Fluorescence Detection
7.6 Other Technologies
8 Global Multiplex Assays Market, By Application
8.1 Introduction
8.2 Research & Development
8.2.1 Biomarker Discovery & Validation
8.2.2 Drug Discovery & Development
8.3 Clinical Diagnostics
8.3.1 Infectious Diseases
8.3.2 Cardiovascular Diseases
8.3.3 Cancer
8.3.4 Autoimmune Diseases
8.3.5 Metabolism & Endocrinology Disorders
8.3.6 Nervous System Disorders
8.3.7 Other Clinical Diagnostics
9 Global Multiplex Assays Market, By End User
9.1 Introduction
9.2 Hospitals & Diagnostic Laboratories
9.3 Pharmaceutical & Biotechnology Companies
9.4 Academic Institutes
9.5 Other End Users
10 Global Multiplex Assays Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Abbott Laboratories
12.2 Thermo Fisher Scientific
12.3 Siemens Healthineers
12.4 Danaher Corporation
12.5 Hoffmann-La Roche
12.6 Biomerieux
12.7 Bio-Rad Laboratories
12.8 Sekisui Medical
12.9 Buhlmann Laboratories
12.10 Randox Laboratories
12.11 Merck Sharp & Dohme Corp
12.12 Illumina Inc
12.13 Qiagen
12.14 Abcam plc
12.15 Agilent Technologies
12.16 Meso Scale Diagnostics LLC
List of Tables
1 Global Multiplex Assays Market Outlook, By Region (2021-2030) ($MN)
2 Global Multiplex Assays Market Outlook, By Product (2021-2030) ($MN)
3 Global Multiplex Assays Market Outlook, By Instruments (2021-2030) ($MN)
4 Global Multiplex Assays Market Outlook, By Consumables (2021-2030) ($MN)
5 Global Multiplex Assays Market Outlook, By Software & Services (2021-2030) ($MN)
6 Global Multiplex Assays Market Outlook, By Type (2021-2030) ($MN)
7 Global Multiplex Assays Market Outlook, By Protein Based Multiplex Assays (2021-2030) ($MN)
8 Global Multiplex Assays Market Outlook, By Bead-Based Protein Assays (2021-2030) ($MN)
9 Global Multiplex Assays Market Outlook, By Planar Protein Assays (2021-2030) ($MN)
10 Global Multiplex Assays Market Outlook, By Other Protein Multiplex Assays (2021-2030) ($MN)
11 Global Multiplex Assays Market Outlook, By Nucleic Acid Multiplex Assays (2021-2030) ($MN)
12 Global Multiplex Assays Market Outlook, By Bead-Based Nucleic Acid Assays (2021-2030) ($MN)
13 Global Multiplex Assays Market Outlook, By Planar Nucleic Acid Assays (2021-2030) ($MN)
14 Global Multiplex Assays Market Outlook, By Other Nucleic Acid Multiplex Assays (2021-2030) ($MN)
15 Global Multiplex Assays Market Outlook, By Cell-based Multiplex Assays (2021-2030) ($MN)
16 Global Multiplex Assays Market Outlook, By Technology (2021-2030) ($MN)
17 Global Multiplex Assays Market Outlook, By Luminescence (2021-2030) ($MN)
18 Global Multiplex Assays Market Outlook, By Flow Cytometry (2021-2030) ($MN)
19 Global Multiplex Assays Market Outlook, By Multiplex Real-Time PCR (2021-2030) ($MN)
20 Global Multiplex Assays Market Outlook, By Fluorescence Detection (2021-2030) ($MN)
21 Global Multiplex Assays Market Outlook, By Other Technologies (2021-2030) ($MN)
22 Global Multiplex Assays Market Outlook, By Application (2021-2030) ($MN)
23 Global Multiplex Assays Market Outlook, By Research & Development (2021-2030) ($MN)
24 Global Multiplex Assays Market Outlook, By Biomarker Discovery & Validation (2021-2030) ($MN)
25 Global Multiplex Assays Market Outlook, By Drug Discovery & Development (2021-2030) ($MN)
26 Global Multiplex Assays Market Outlook, By Clinical Diagnostics (2021-2030) ($MN)
27 Global Multiplex Assays Market Outlook, By Infectious Diseases (2021-2030) ($MN)
28 Global Multiplex Assays Market Outlook, By Cardiovascular Diseases (2021-2030) ($MN)
29 Global Multiplex Assays Market Outlook, By Cancer (2021-2030) ($MN)
30 Global Multiplex Assays Market Outlook, By Autoimmune Diseases (2021-2030) ($MN)
31 Global Multiplex Assays Market Outlook, By Metabolism & Endocrinology Disorders (2021-2030) ($MN)
32 Global Multiplex Assays Market Outlook, By Nervous System Disorders (2021-2030) ($MN)
33 Global Multiplex Assays Market Outlook, By Other Clinical Diagnostics (2021-2030) ($MN)
34 Global Multiplex Assays Market Outlook, By End User (2021-2030) ($MN)
35 Global Multiplex Assays Market Outlook, By Hospitals & Diagnostic Laboratories (2021-2030) ($MN)
36 Global Multiplex Assays Market Outlook, By Pharmaceutical & Biotechnology Companies (2021-2030) ($MN)
37 Global Multiplex Assays Market Outlook, By Academic Institutes (2021-2030) ($MN)
38 Global Multiplex Assays Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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