Global Multiplexed Diagnostics Market - 2022-2029

Global Multiplexed Diagnostics Market - 2022-2029
Market Overview

The Multiplexed Diagnostics Market size was valued US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX % during the forecast period (2022-2029).

Biological samples are analyzed using multiplexed diagnostics, which can finish a screening procedure in a single pass. Multiplexed diagnostic assays identify and classify various illnesses and infections, including cancer, autoimmune disorders, allergies, and cardiovascular diseases. Early detection can reduce the risk factors linked to chronic illnesses or infections and aid in effective treatment administration. Multiplexed diagnostic assays have benefits like time efficiency, high accuracy, and precision, which can detect flaws and mutations in any functioning biomolecules like DNA, RNA, and protein.

Market Dynamics

Advancement in multiplexed diagnostics for various applications is expected to drive market growth.

Clinically significant immunosensors that are accurate, dependable, and economical are required for the early detection and surveillance of progressive diseases. Multiplexed sensing is a potential approach for the coming generation of diagnostics. With this method, numerous biomarkers can be simultaneously detected and quantified with much-improved reproducibility and reliability while needing less sample material and a shorter average analysis time for each biomarker than separate tests. For instance, one of the most frequently discussed multiplexing techniques is spatial multiplexing since it minimizes detection interferences and is compatible with most measurement techniques. Field-effect transistors are frequently used as the sensing mechanism for electrical measurements (FETs). A conductive or semiconductive channel makes up each transistor, and a particular antibody has altered this channel. The drain-source current is adjusted upon the binding of the relevant antigen to the sensing channel, and from this, the concentration of the target biomarker can be calculated. Thus, from the above statements, the market is expected to drive in the forecast period.

Restraint:

High costs associated with multiplexed diagnostics assay, lack of availability of skilled professionals, and Comparing multiplexed assay diagnostic tests to conventional diagnostic tests, there is a lack of clarity regarding reimbursement regulations among private and governmental players. Thus, from the above statements, the market is expected to get hampered in the forecast period.

Industry Analysis

The multiplexed diagnostics market provides in-depth analysis of the market based on various industry factors such as porter’s five forces, supply chain analysis, reimbursement scenario, product innovation, pricing analysis, etc.

COVID-19 Impact Analysis

The COVID-19 pandemic has moderately impacted healthcare systems and the market. Rapid molecular testing for practical and prompt detection of SARS-CoV-2 infections is a challenge that could aid in managing the current pandemic and preventing further outbreaks. Lyophilized LAMP reagents are used in a multiplex and colorimetric RT-LAMP assay designed for the quick and sensitive detection of SARS-CoV-2. A set of gene targets found through genome-wide analysis of viruses inspired the creation of LAMP primers. A multiplex RT-LAMP assay was created using primer sets demonstrating the best features. As part of the analytical validation process, the limit of detection (LoD), intra- and inter-assay precision, and cross-reactivity with other respiratory pathogens were also evaluated. Therefore, it has increased the demand for multiplexed diagnostics assays.

In contrast, the pandemic interrupts the supply chain and process. Many companies will vary to other geographic regions to ensure that products remain available and protect their supply chain. Thus, from the above statements, the market got affected, and it is expected to gain traction quickly with the resumption of economic activities.

Segment Analysis

Next-Generation Sequencing Assays segment is expected to hold the largest market share in multiplexed diagnostics market

The next-generation sequencing assays segment is expected to dominate in 2021. The segment is beneficial because it has improved low-frequency variant detection sensitivity, quick turnaround times for large sample quantities, extensive genome coverage, increased sample multiplexing capability, and simultaneous sequencing of hundreds to thousands of genes or gene regions. For instance, Illumina, Inc. is an American company that develops, manufactures, and markets integrated systems to analyze genetic variation and biological function. Moreover, large numbers of libraries are pooled and sequenced concurrently using Illumina multiplex sequencing during a single run. The traditional Sanger chain-termination technique differs significantly from Illumina NGS technology's operation. It uses massively parallel sequencing by synthesis (SBS) technology, which monitors the addition of tagged nucleotides as the DNA chain is duplicated. The amount of DNA sequencing data produced by next-generation sequencing is enormous, yet it is also less expensive and time-consuming than conventional Sanger sequencing. Depending on the instrument type and setup, Illumina sequencing systems can produce data output ranging from 300 kilobases to several terabases in a single run. Therefore, it has increased the demand for next-generation sequencing technology. Thus, from the above statements, the market segment is expected to hold the largest market share in the forecast period.

Geographical Analysis

North America region holds the largest market share in the global multiplexed diagnostics market

In 2021, North America accounted for the highest revenue share. The increasing prevalence of cancer, rising consumer awareness, technological advancements, quick adoption of cutting-edge diagnostic techniques, a well-defined regulatory environment, sophisticated healthcare infrastructure and product launches and acquisitions by the key market players are some factors the market is expected to boost in the forecast period. For instance, In the United States, 1,752,735 new cancer cases were reported in 2019, while 599,589 people died from the disease. Four hundred thirty-nine new cases of cancer and 146 cancer-related deaths were reported for every 100,000 persons. In contrast, in the US, 1,806,590 new cancer cases and 606,520 cancer-related deaths are anticipated in 2020, or 4,950 new cases and more than 1,600 fatalities daily.

Moreover, A US-based firm called Chembio Diagnostic Systems Inc. is creating many multiplex diagnostic technologies for managing fevers. The tests are built on the business's Dual Path Platform (DPP), a patented technology that offers superior performance to conventional lateral flow technology and simultaneous antigen and antibody detection capabilities in a disposable, quick test package. Therefore, it has increased the adoption of multiplexed diagnostics assays. Thus, from the above statements, the North American region is expected to hold the largest market share in the forecast period.

Competitive Landscape

Major key players in the multiplexed diagnostics market are Luminex Corporation, Thermo Fisher Scientific, Bio-Rad Laboratories, Inc., Qiagen N.V., Siemens Healthineers, Agilent technologies, BioMerieux SA, F.Hoffmann-La Roche Ltd, Hologic, Inc., Illumina, Inc.

F. Hoffmann-La Roche Ltd:

Overview:

Hoffmann-La Roche Ltd is a leader in research-focused healthcare with combined strengths in pharmaceuticals and diagnostics. It is one of the largest biotech companies, with truly differentiated medicines in oncology, immunology, infectious diseases, ophthalmology, and neuroscience. It is a global leader in in-vitro and tissue-based cancer diagnostics and a frontrunner in diabetes management. Its personalized healthcare strategy aims to provide medicines and diagnostics that enable tangible improvements in patients' health, quality of life and survival. Moreover, Roche Molecular, one of four customer-focused areas of Roche Diagnostics Solutions, develops, manufactures and supplies a wide array of innovative molecular diagnostic products, tests, platforms and technologies used to identify and quantify DNA and RNA from different organisms.

Product Portfolio:

eSensor Technology: The eSensor Technology is based on competitive DNA hybridization and electrochemical detection principles. eSensor Technology is highly specific for the target biomarker and is not based on fluorescent or optical detection. As a result, diagnostic tests are less prone to sample contamination risk and do not require time-consuming washing and preparation steps.

The global multiplexed diagnostics market report would provide an access to an approx. 45+market data table, 40+figures and 180pages.