New York, US, March 10, 2023 (GLOBE NEWSWIRE) -- Maximize Market research, a global Healthcare business-consulting firm, has published a market intelligence and competitive landscape report on the “Multiplex Assays Market”. The total market opportunity for the Multiplex Assays market was USD 3.28 Bn in 2021 and is expected to grow at 8.7 percent CAGR over the forecast period to reach USD 6.39 Bn by 2029.
| Market Size in 2021 | USD 3.28 Bn |
| Market Size in 2029 | USD 6.39 Bn |
| CAGR | 8.7 percent (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 255 |
| No. of Tables | 135 |
| No. of Charts and Figures | 120 |
| Segment Covered | Product & Services, Type, Technology, Application, and End User |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Multiplex Assays Market Scope and Research Methodology
The report provides a comprehensive analysis of the current framework of the Multiplex Assays Market including the major trends and developments in the industry. The Multiplex Assays Market growth drivers, opportunities, restraints and challenges are provided in the report for the forecast period of 2022-2029. All the necessary and essential market figures are covered in the report to aid the new entrant analyze the Multiplex Assays Market.
Bottom-up approach was used to estimate the Multiplex Assays Market size of various segments and sub-segments. Secondary research was used to indent and collect information for the extensive, market-oriented, and commercial analysis of the Multiplex Assays Market. The sources used to obtain key information about major players, market development, and technology perspectives were investors’ presentations, press releases, expert interviews, SEC filings and annual reports. Primary research was conducted to verify the quantitative and qualitative information collected through secondary research. The report is equipped with a competitive analysis of the Multiplex Assays Market players. The Multiplex Assays Market was analyzed by region, revenue, financial status, portfolio, technological advancement adopted, social, social media presence, and mergers and acquisitions.
Multiplex Assays Market Overview
Multiplex Assays is a type of immunoassay that uses magnetic beads to measure multiple analytes in a single experiment. It is a derivative of an ELISA using beads for binding a capture antibody. Microspheres of designated colors are coated with antibodies of defined binding specificities. Multiplex assays within a given class of technology can be further stratified based on how many analytes can be measured per assay. This method does not require a large number of samples to perform clinical tests, whereas a single assay performance is far more accurate and coherent.
Multiplex Assays Market Dynamics
Increasing research and development activities in pharmaceutical sector for treatment of various diseases, surging incidence rate of cancer are expected to influence the Multiplex Assays Market growth. Assays are used in clinical trials as the research and manual labor cost is decreased and offer easier & faster analysis of disease are the factors expected to fuel the Multiplex Assays Market growth. Use of multiplex assays in companion diagnostics, increasing advantages of assays over singleplex and traditional assays, and growing awareness about early disease diagnosis are factors expected to boost the Multiplex Assays Market growth.
Increasing validation of the biomarkers in molecular and protein diagnostics, along with need for automated systems present lucrative opportunities for the Multiplex Assays Market growth. High initial cost of the equipment and increasing regulations and standards regarding the use of Multiplex assays are expected to restrain the Multiplex Assays Market growth. However, lack of skilled professionals in the field is expected to hamper the market growth.
Multiplex Assays Market Regional Insight
The North American region held the largest Multiplex Assays Market share of about 24 percent and dominated the regional market in 2021. The region is expected to dominate the Multiplex Assays market over the forecast period. Increasing prevalence of chronic illnesses such as HIV, CNS disorders, gastrointestinal disorders, and many others, adoption of multiplex assays over single assays and increasing investments by the major key players are expected to drive the regional Multiplex Assays Market growth. Increasing prevalence of chronic illnesses in United States is expected to grow at a significant growth rate during the forecast period.
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The Asia Pacific region is expected to witness significant growth in the Multiplex Assays Market over the forecast period. Increase in the number of hospitals in developing countries and high spending on R&D activities is expected to fuel the regional Multiplex Assays Market growth.
Multiplex Assays Market Segmentation
By Product & Services:
- Consumables
- Instruments
- Software and Services
By Type:
- Protein Multiplex Assays
- Planar Protein Assays
- Bead-Based Protein Assays
- Other Protein Assays
- Nucleic Acid Multiplex Assays
- Planar Nucleic Acid Assays
- Bead-Based Nucleic Acid Assays
- Other Nucleic Acid Assays
- Cell-Based Multiplex Assays
By Technology:
- Flow Cytometry
- Fluorescence Detection
- Luminescence
- Multiplex Real-Time PCR
- Other Technologies
By Application:
- Research & Development
- Drug Discovery & Development
- Biomarker Discovery & Validation
- Clinical Diagnostics
- Infectious Diseases
- Cancer
- Cardiovascular Diseases
- Autoimmune Diseases
- Nervous System Disorders
- Metabolism & Endocrinology Disorders Other Diseases
By End User:
- Pharmaceutical & Biotechnology Companies
- Hospitals & Research Institutes
- Reference Laboratories
- Other End Users
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Key Leading Players in the Multiplex Assays Market include:
- Luminex Corporation (United States)
- Thermo Fisher Scientific Inc. (United States)
- Illumina, Inc (United States)
- Bio-Rad Laboratories, Inc. (United States)
- Becton, Dickinson, and Company (United States)
- Agilent Technologies, Inc. (United States)
- Meso Scale Diagnostics (United States)
- Quanterix (United States)
- Bio-Techne Corporation (United States)
- Promega Corporation (United States)
- PerkinElmer, Inc. (United States)
- Antigenix America, Inc. (United States)
- Enzo Life Sciences, Inc. (United States)
- Boster Biological Technology (United States)
- Cayman Chemical Company (United States)
- AYOXXA Biosystems GmbH |(Germany)
- Merck KGaA (Germany)
- Siemens Healthineers (Germany)
- DiaSorin S.p.A. (Italy)
- Olink (Sweden)
- Qiagen N.V. (Netherlands)
- Abcam plc |(United Kingdom)
- Randox Laboratories (United Kingdom)
- Shimadzu Biotech (Japan)
- Seegene (South Korea)
Key questions answered in the Multiplex Assays Market are:
- What is Multiplex Assays?
- What was the Multiplex Assays market size in 2021?
- What is the forecast period of Multiplex Assays market?
- What will be the Multiplex Assays market size by 2029?
- What is the growth rate of the Multiplex Assays Market?
- Which are the factors expected to drive the Multiplex Assays market growth?
- What factors are expected to hamper the Multiplex Assays market growth?
- Which segment dominated the Multiplex Assays market growth?
- What is the demand pattern for the Multiplex Assays market?
- Which region held the largest share in the Multiplex Assays market?
- Who are the key players in the Multiplex Assays market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Product & Services, Type, Technology, Application, and End User
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Healthcare research firm, has also published the following reports:
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Cell Proliferation Kits Market: The total market size is valued at USD 362.10 Mn in 2021 and is estimated to grow at a CAGR of 4.5 percent reaching USD 514.95 Mn over the forecast period. Increasing number of patients diagnosed with cancer and tumors and ongoing R&D activities around the world is expected to drive the market growth.
Circulating Tumor Cells Market: The total market size was valued at USD 10.38 Bn in 2021 and the total revenue is expected to grow at 11.7 percent through 2021 to 2029, reaching USD 25.17 Bn. Widespread use of companion diagnostics in assessing tumor eradication features of cytotoxic medications is expected to drive the market growth.
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