Dublin, March 01, 2024 (GLOBE NEWSWIRE) -- The "Multiplex Assays Market by Type (Protein [Bead, Planar], Nucleic Acid, Cell) Technology (Flow Cytometry, PCR, Immunoassay) Application (R&D, Diagnosis (Oncology, Cardiovascular, Infectious, Autoimmune Diseases) Product, End User - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global multiplex assays market is expected to reach $6.24 billion by 2030 at a CAGR of 9.0% from 2023 to 2030.
The growth of this market is attributed to several factors, the advantages of multiplex assays over singleplex assays, the use of multiplexing in companion diagnostics, the increasing prevalence of chronic and infectious diseases, and rising awareness about the importance of early disease diagnosis. However, the high costs of multiplex assay equipment restrain the growth of this market.
The growing need for high-throughput and automated laboratory systems and the increasing focus on personalized medicine is expected to generate growth opportunities for the players operating in this market. However, the shortage of skilled professionals and the risk of cross-reactivity are major challenges to market growth.
Among all the types studied in this report, in 2023 protein multiplex assays segment is expected to account for the largest share of the multiplex assays market. Protein multiplex assays are further segmented into bead-based assays and planar assays.
In 2023, the bead-based assays segment is expected to account for the largest share of the protein multiplex assays market. Multiplex bead-based assays have become essential tools for diagnosing various diseases. These assays are used for testing allergies, cancer markers, cytokines, cardiac markers, autoimmune diseases, and endocrine diseases. Bead-based assays offer a dynamic range of analytes as they are measured using flow cytometry. They are suitable for high-throughput analysis and are much more rapid, making them the preferred alternative to planar assays.
Among all the products studied in this report, in 2023, the consumables segment is expected to account for the largest share of the multiplex assays market.
The large market share of this segment is attributed to the repetitive use of kits, the growing portfolio of disease-specific kits for early diagnosis of diseases, and the increasing product approvals. The continuous advancements in reagents and kits, the development of user-friendly diagnostic kits, and the adoption of multiplex assay kits in clinical and research laboratories positively impact the demand for consumables used in multiplex assays.
Among all the technologies studied in this report, the flow cytometry segment is projected to register the highest CAGR during the forecast period
Flow cytometry is considered an important tool in clinical diagnosis and research & development. It provides a multiparametric analysis of many single cells, which can be used in multiple research areas. Additionally, market players are launching advanced flow cytometers to support growing market needs. For instance, in June 2023, Becton, Dickinson and Company (U.S.) launched a BD FACSDuet to automate sample preparation during clinical flow cytometry diagnostics.
Among all the applications studied in this report, in 2023, the research & development segment is expected to account for the largest share of the multiplex assays market.
The large market share of this segment is attributed to increasing applications of multiplex assays in drug discovery, biomarker profiling, and understanding disease mechanisms. The demand for multiplex assays in research & development is increasing rapidly and is also contributing to the largest share of the segment.
Among all the end users studied in this report, the research & development segment is expected to grow at the highest CAGR during the forecast period.
The highest CAGR of this segment is attributed to factors such as the increasing R&D investments by pharmaceutical & biotechnology companies, the widespread utilization of multiplex assays in drug discovery & development, and a growing emphasis on personalized medicine research. The rising spending on R&D by pharmaceutical companies is also contributing to the largest share of this segment.
In 2023, North America is expected to account for the largest share of the multiplex assays market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
North America's large share is attributed to the region's high R&D spending by the pharmaceutical & biotechnology companies for the development of drugs and biomarker identification, increasing prevalence of chronic diseases, rising healthcare expenditure, presence of leading market players in the region, and favorable government initiatives for research & development. According to the U.S. Congressional Budget Office, U.S. pharmaceutical R&D expenditure increased from 91.1 billion in 2020 to 102.3 billion in 2021.
The report offers a competitive landscape based on an extensive assessment of the product portfolio offerings, geographic presences, and key strategic developments adopted by leading market players in the industry over the years (2020-2023).
Market Insights
Market Dynamics
- Advantages of Multiplex Assays over Singleplex Assays Leading to Their Increased Adoption
- Growing Use of Multiplexing in Companion Diagnostics Driving the Demand for Multiplex Assays
- High Costs of Multiplex Assay Equipment Hampering Adoption Among End Users
- Increasing Focus on Personalized Medicine Boosting the Utilization of Multiplex Assays
- Shortage of Skilled Professionals and the Risk of Cross-reactivity Limiting the Adoption of Multiplex Assays
- Factor Analysis
Technology Trends
- Technological Advancements in Multiplex PCR Technology
- Integration of Artificial Intelligence and Machine Learning into Multiplex Assay Systems
- Development of Smartphone-based Diagnostic Testing Platforms
Regulatory Analysis
- North America
- U.S.
- Canada
- Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Middle East & Africa
Pricing Analysis
Porter's Five Forces Analysis
Company Profiles (Company Overview, Financial Snapshot, Product Portfolio, and Strategic Developments)
- Thermo Fisher Scientific Inc. (U.S.)
- Bio-Rad Laboratories Inc. (U.S.)
- Seegene Inc. (South Korea)
- Qiagen N.V. (Netherlands)
- PerkinElmer Inc. (U.S.)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Agilent Technologies Inc. (U.S.)
- Abbott Laboratories (U.S.)
- Siemens Healthineers AG (Germany)
- Illumina Inc. (U.S.)
- Becton,Dickinson and Company (U.S.)
- Quanterix Corporation (U.S.)
- DiaSorin S.p.A. (Italy)
- Merck KGaA (Germany)
Competition Analysis
- Overview
- Key Growth Strategies
- Competitive Benchmarking
- Competitive Dashboard
- Industry Leaders
- Differentiators
- Vanguards
- Emerging Companies
Scope of the Report:
Multiplex Assays Market Assessment, by Type
- Protein Multiplex Assays
- Bead-based Assays
- Planar Assay
- Nucleic Acid Multiplex Assays
- Cell-based Multiplex Assays
Multiplex Assays Market Assessment, by Product
- Consumables
- Instruments
- Software & Services
Multiplex Assays Market Assessment, by Technology
- Flow Cytometry
- Multiplex Immunoassay
- Multiplex Real-Time PCR
- Sequencing
- Other Technologies
Note: Other technologies consist of microarray and immunohistochemistry
Multiplex Assays Market Assessment, by Application
- Research & Development
- Clinical Diagnosis
- Infectious Diseases
- Oncology
- Cardiovascular Diseases
- Autoimmune Diseases
- Other Diseases
Note: Other diseases include neurological diseases, thrombosis, and drug abuse testing.
Multiplex Assays Market Assessment, by End User
- Pharmaceutical & Biotechnology Companies
- Diagnostic Laboratories
- Hospitals
- Other End Users
Note: Other end users consist of academic institutes & research centers, forensic labs, agriculture companies, and food & beverage companies
Multiplex Assays Market Assessment, by Geography
North America
- U.S
- Canada
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe (Roe)
Asia-Pacific (APAC)
- China
- Japan
- India
- Rest of Asia-Pacific (RoAPAC)
Latin America
- Brazil
- Mexico
- Rest of Latin America (RoLATAM)
Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/wmbz20[bead?w=12
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