Multiplex Assay Market By Type (Protein Based Multiplex Assays, Nucleic Acid-Based Multiplex Assays, Cell-based Multiplex Assays), By Product (Reagents and Consumables, Instruments and Accessories, Software and Services), By Application (Clinical Diagnostics, Research and Development, Companion Diagnostics), By End User (Hospitals, Clinical Laboratories, Research Institutes, Pharmaceutical and Biotechnology Companies): Global Opportunity Analysis and Industry Forecast, 2023-2032
The Multiplex Assay Market was valued at $3.6 billion in 2022 and is estimated to reach $7.7 billion by 2032, exhibiting a CAGR of 7.8% from 2023 to 2032. Multiplex assay is a procedure in which various analytes (such as proteins, biomolecules, growth factors, cytokines, and chemokines) are profiled by detecting and quantifying them simultaneously. This assay is used to amplify multiple targets in a polymerase chain reaction (PCR) and collect more information from minute quantities of proteins or other analytes in less time as compared to conventional methods such as ELISA. Multiplex assays are widely used for pathogen identification, mutation analysis, RNA detection, gene detection analysis, linkage analysis, and forensic studies.
Major factors that drive the growth of the global multiplex assay market include rapid technological advancements in multiplex assay equipment, increase in R&D activities in pharmaceuticals for treatment of several diseases. These assays are used in clinical trials as they decrease the cost of research & manual labor and increase the efficiency of experiments and therapies. In addition, they offer easier & faster analysis of diseases and are automated as compared to conventional methods, which propels market growth.
However, high capital investments and dearth of skilled labors are the major factors that are expected to restrict the growth of the multiplex assay market. The high procurement and operational costs along with cumbersome and complex nature of multiplex assay instruments remain a key hurdle in the multiplex assay market. Moreover, increase in validation of biomarkers in molecular and protein diagnostics, along with rise in need of high-throughput and automated systems are anticipated to create lucrative opportunities for the expansion of the global market in the future. In addition, increase in funding for clinical research and drug discovery are expected to further propel the multiplex market growth.
The multiplex assay market is segmented on the basis of type, product, application, end user, and region. On the basis of type, the market is divided into protein based multiplex assay, nucleic acid-based multiplex assay, and cell-based multiplex assays. On the basis of product, the market is classified into reagents & consumables, instruments & accessories, and software & services. On the basis of application, the multiplex assay market is segregated into clinical diagnostics, research and development, and companion diagnostics. On the basis of end user, the market is segregated into hospitals, clinical laboratories, research institutes, and pharmaceuticals & biotechnology companies. On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The major players profiled in the report are Abcam plc, Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., DiaSorin S.p.A. (Luminex Corporation), Illumina Inc., Meso Scale Diagnostics LLC, QIAGEN N.V., Randox Laboratories Ltd., Seegene Inc., Thermo Fisher Scientific Inc. These major players have adopted acquisition, agreement, expansion, partnership, product launch, product approval as key developmental strategy to improve the product portfolio of the multiplex assay market.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the multiplex assay market analysis from 2022 to 2032 to identify the prevailing multiplex assay market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the multiplex assay market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global multiplex assay market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy End UserHospitals
Clinical Laboratories
Research Institutes
Pharmaceutical and Biotechnology Companies
By TypeProtein Based Multiplex Assays
Nucleic Acid-Based Multiplex Assays
Cell-based Multiplex Assays
By ProductReagents and Consumables
Instruments and Accessories
Software and Services
By ApplicationCompanion Diagnostics
Clinical Diagnostics
Research and Development
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market PlayersRandox Laboratories Limited
Qiagen N.V
Seegene Inc
Thermo Fisher Scientific Inc.
Illumina Inc.
Bio-Rad Laboratories, Inc.
Abcam plc.
Becton, Dickinson and Company
MESO SCALE DIAGNOSTICS, LLC
Diasorin S.p.A.
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