Dublin, Feb. 23, 2022 (GLOBE NEWSWIRE) -- The "Multiplex Assays Market by Product (Consumables, Instruments, Software & Services), Type (Nucleic Acid, Protein, Cell), Technology (Flow Cytometry, Luminescence, Application (R&D, Diagnosis), End User (Pharma & Biotech, Hospital) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global Multiplex Assays Market is projected to reach USD 4.3 billion by 2026 from USD 3.0 billion in 2021, at a CAGR of 7.6% during the forecast period.
Market growth is mainly driven by factors such as the increasing adoption of companion diagnostics, the increasing incidence of chronic and infectious diseases, the growing awareness of the disease diagnosis, and the need for effective analytical platforms in research and clinical diagnostics to reduce the operational costs and the time taken for diagnosis. However, the high cost of multiplex assay equipment, stringent regulations and standards, and issues in the standardization of multiplex assays design are the major factors restraining the growth of this market.
Based on product & service, the multiplex assays market is segmented into instruments, consumables, and software & services. In 2020, the consumables segment is expected to account for the largest share of the market; it is also the fastest-growing segment of the multiplex assays market. This can be attributed to the recurring purchase of assays and reagents for increasing research applications.
Based on type, the global multiplex assays market is divided into protein-based multiplex assays, nucleic acid-based multiplex assays, and cell-based multiplex assays. In 2020, the protein-based multiplex assays segment is expected to account for the largest share of the global multiplex assays market. This large share can be attributed to the increasing focus on proteomics studies for biomarker research and clinical diagnostics.
On the basis of application, the global multiplex assays market is divided into research & development and clinical diagnostics. In 2020, the research & development segment is expected to account for the largest share of the global multiplex assays market. This large share can be attributed to the wide applications of multiplex assay technologies in research & development functions.
Based on end-user, the multiplex assays market is segmented into pharmaceutical & biotechnology companies, hospitals & research institutes, reference laboratories and other end users. In 2020, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of the global multiplex assays market. This large share can be attributed to the increasing adoption of multiplex assays in drug discovery and development by pharmaceuticals and the growing focus of biotechnology companies on developing biosimilars and monoclonal antibodies.
Key Topics Covered:
Executive Summary
- Multiplex Assays Market, by Product & Service, 2021 Vs. 2026 (USD Billion)
- Multiplex Assays Market, by Type, 2021 Vs. 2026 (USD Billion )
- Multiplex Assays Market, by Technology, 2021 Vs. 2026 (USD Billion)
- Multiplex Assays Market, by Application, 2021 Vs. 2026 (USD Billion )
- Multiplex Assays Market, by End-user, 2021 Vs. 2026 (USD Billion)
- Geographical Snapshot of the Multiplex Assays Market (2021-2026)
Premium Insights
- Increasing Adoption of Multiplex Assays in Companion Diagnostics to Drive the Market Growth
- North America: Multiplex Assays Market, by Application and Country (2020) - R&D to Account for the Largest Share of the North American Multiplex Assays Market in 2020
- Multiplex Assays Market, by Region (2021 Vs. 2026) - North America to Dominate the Multiplex Assays Market in 2026
- Geographical Snapshot of the Multiplex Assays Market - APAC to be the Fastest-Growing Market from 2021 to 2026
Market Dynamics
Drivers
- Increasing Use of Multiplex Assays in Companion Diagnostics
- Increasing Advantages Over Singleplex and Traditional Assays
- Increasing Incidence of Chronic and Infectious Diseases and Growing Awareness About Early Disease Diagnosis
Restraints
- Increasing Costs of Equipment
- Growing Number of Stringent Regulations and Standards
Opportunities
- Increasing Validation of Biomarkers in Molecular and Protein Diagnostics
- Rising Need for High-Throughput and Automated Systems
Challenges
- Increasing Dearth of Skilled Professionals
13 Company Profiles
- Abcam plc
- Agilent Technologies Inc.
- Antigenix America, Inc.
- Becton Dickinson and Company
- Bio-Rad Laboratories, Inc.
- Bio-Techne Corporation
- Boster Biological Technology
- Cayman Chemical Ltd.
- Diasorin S.P.A.
- Enzo Life Sciences, Inc.
- Illumina, Inc.
- Luminex Corporation
- Merck KGaA
- Meso Scale Diagnostics, LLC
- Olink
- Perkinelmer Inc.
- Promega Corporation
- Qiagen N.V.
- Quanterix
- Randox Laboratories Ltd.
- Seegene Inc.
- Shimadzu Corporation
- Siemens Healthineers
- Thermo Fisher Scientific Inc.
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