Portland, OR, Feb. 08, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Multiplex Assays Market was estimated at $1.94 billion in 2020 and is expected to hit $4.36 billion by 2030, registering a CAGR of 8.3% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
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Rise in R&D activities & government funding, increase in adoption of multiplex assays to reduce operation costs, and surge in incorporation of personalized medicines drive the global multiplex assays market. On the other hand, lack of skilled labor/healthcare professionals impedes the growth to some extent. However, various growth opportunities in the emerging economies have been beneficial for the market growth.
Covid-19 Scenario-
- As multiplex assays are used for Covid-19 diagnosis, there has been a massive demand for multiplex of the SARS-CoV-2 assay such as multiplex point-of-care assays, thereby impacting the global multiplex assays market positively.
- This trend is going to persist till the pandemic is completely over.
The global multiplex assays market is analyzed across type, product, application, end users, and region.
Based on type, the protein based multiplex assay segment accounted for around three-fourths of the total market share in 2020, and is expected to rule the roost by 2030. The nucleic acid based multiplex assay segment, however, would garner the fastest CAGR of 10.3% throughout the forecast period.
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Based on end users, the pharmaceutical and biotechnology companies segment contributed to more than half of the total market revenue in 2020, and is projected to lead the trail by 2030. The same segment would also exhibit the fastest CAGR of 9.5% during the forecast period.
Based on region, the market across North America held the major share in 2020, garnering more than two-fifths of the global market. Asia-Pacific, simultaneously, would manifest the fastest CAGR of 11.2% throughout the forecast period.
The key market players analyzed in the global multiplex assays market report include Thermo Fisher Scientific Inc., Illumina Inc., Randox Laboratories Ltd., QIAGEN N.V., Becton, Dickinson and Company, Abcam PLC, Luminex Corporation, Seegene Inc., Meso Scale Diagnostics LLC, Bio-Rad Laboratories Inc.These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
