Selbyville, Delaware, June 01, 2020 (GLOBE NEWSWIRE) -- Worldwide multiplexed diagnostics market accrued revenues worth USD 9213.27 million in 2019 and is predicted to showcase significant growth between the years 2020 and 2025. Increasing focus on R&D activities towards developing next-generation sequencing solutions along with shifting preferences towards adopting advanced medical technologies and devices are major factors driving the growth of multiplexed diagnostics market.
According to the report, multiplexed diagnostics market has been fragmented into several segments including product, end user, and regions. The study emphasizes on the individual market share and overall segment valuation as well as prevailing and projected growth rates of every listed segment.
There has been an upsurge in the demand for medical equipment that allow for simultaneous testing of various samples to save energy and time during operations. Additionally, growing population of baby boomers coupled with increased pervasiveness of various chronic and life threatening conditions are aiding the market expansion. Rising adoption of sedentary lifestyle and high occurrence of contagious diseases is also fostering the demand for multiplexed diagnostic devices.
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Multiplexed diagnostics are observing extensive adoption across clinical researchers, medical professionals, and diagnostic laboratories. In addition, increasing awareness pertaining to benefits of advanced and automated multiplexed diagnostic products is stimulating the industry outlook.
Impact of COVID-19 pandemic
The emergence COVID-19 pandemic has resulted in high production and adoption of multiplexed diagnostic testing solutions across the healthcare sector, which in turn is favoring the market scenario.
Product insights
Global multiplexed diagnostics industry is fragmented into product types, end-user landscape, and regional contribution.
Speaking of the product spectrum, the market is further split into consumables, software & services, and instruments. The consumables segment is expected to grow significantly during the forecast period. Growing demand for advanced consumables among academic and medical researchers in consort with increasing spending towards reagents and assays for research applications are fueling the segmental share, cites the study.
Citing the end-use landscape, the multiplexed diagnostic market is bifurcated into clinical research, pharmaceuticals, diagnostic laboratories, and hospitals. The diagnostic laboratories segment is slated to record momentous growth in the ensuing years. Rising adoption of advanced instruments and consumables by clinicians for conducting studies and tests of genomes is complementing the industry dynamics. Moreover, the COVID-19 pandemic has compelled various healthcare professionals to use multiplexed diagnostic products in order to perform high volume tests.
Regional Analysis
The North America multiplexed diagnostic industry is anticipated to showcase substantial growth during the study period, followed by Europe and Asia-Pacific. Factors such as rising prevalence of Alzheimer’s among elderly population along with increasing consumption of medicinal services are promoting the business scenario in North America.
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Competitive Analysis
The major contenders in global multiplexed diagnostic industry are GenMark Diagnostics Inc., Thermo Fischer Scientific Inc., Hoffmann-La Roche AG, Abbott Laboratories, Luminex Corp., Illumina Inc., Bio-rad Laboratories Inc., Biomerieux, Agilent Technologies Inc. and Becton, Dickinson & Co. among others.
Global Multiplexed Diagnostics Market by Type Analysis (2020-2025)
Consumables
Instruments
Software & Services
Global Multiplexed Diagnostics Market by End-Use Analysis (2020-2025)
Hospitals
Diagnostics Laboratories
Pharmaceuticals
Clinical Research
Global Multiplexed Diagnostics Market by Regional Analysis (2020-2025)
North America
- United States
- Canada
Europe
- U.K.
- Germany
- Grance
- Spain
Asia-Pacific
- China
- India
- South Korea
- Japan
Global Multiplexed Diagnostics Market by Competitive Analysis (2020-2025)
- Agilent Technologies Inc.
- Becton, Dickinson & Co.
- Biomerieux
- Bio-rad Laboratories Inc.
- Illumina Inc.
- Luminex Corp.
- Abbott Corp.
- Hoffmann-La Roche AG
- Thermo Fisher Scientific aG
- GenMark Diagnostics Inc.
Table of Content:
1. Report Scope and Methodology
1.1 Research Methodology
1.2 Executive Summary
2. Strategic Recommendations
3. Global Multiplexed Diagnostics Market: Product Outlook
4. Global Multiplexed Diagnostics Market: Sizing and Forecast
4.1 Market Size, By Value, Year 2015-2025
5. Global Multiplexed Diagnostics Market Segmentation By Product
5.1 Competitive Scenario of Global Multiplexed Diagnostics Market a?? By Product
5.2 By Consumablesa?? Market Size and Forecast (2020-2025)
5.3 By Instruments- Market Size and Forecast (2020-2025)
5.4 By Software and services- Market Size and Forecast (2020-2025)
6. Global Multiplexed Diagnostics Market Segmentation By End User
6.1 Competitive Scenario of Global Multiplexed Diagnostics Market a?? By End User
6.2 By Hospitalsa?? Market Size and Forecast (2020-2025)
6.3 By Diagnostics Laboratories- Market Size and Forecast (2020-2025)
6.4 By Pharmaceuticals- Market Size and Forecast (2020-2025)
6.5 By Clinical Research - Market Size and Forecast (2020-2025)
7. Global Multiplexed Diagnostics Market: Regional Analysis
7.1 Competitive Scenario of Global Multiplexed Diagnostics: By Region
8. North America Multiplexed Diagnostics Market: Segmentation By Product and End User (2020-2025)
9. Europe Multiplexed Diagnostics Market: Segmentation By Product and End User (2020-2025)
10. APAC Multiplexed Diagnostics Market: Segmentation By Product and End User (2020-2025)
11. Global Multiplexed Diagnostics Market Dynamics
11.1 Global Multiplexed Diagnostics Market Drivers
11.2 Global Multiplexed Diagnostics Market Restraints
11.3 Global Multiplexed Diagnostics Market Trends
12. Market Attractiveness
12.1 Market Attractiveness Chart of Global Multiplexed Diagnostics Market - By Product (Year 2025)
12.2 Market Attractiveness Chart of Global Multiplexed Diagnostics Market - By End User (Year 2025)
12.3 Market Attractiveness Chart of Global Multiplexed Diagnostics Market - By Region, By Value, (Year-2025)
13. Competitive Landscape
13.1 Mergers and Acquisitions
13.2 Market Share Analysis
14. Company Profiles (Business Description, Financial Analysis, Business Strategy)
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