Multiplex Assays Market Size, Share & Trends Analysis By Product & Service, By Type, By Technology, By Application, By End User, Regional Outlook, Competitive Strategies and Segment Forecasts to 2030

Multiplex Assays Market Size, Share & Trends Analysis By Product & Service, By Type, By Technology, By Application, By End User, Regional Outlook, Competitive Strategies and Segment Forecasts to 2030

Global multiplex assays market is projected to be worth USD 5.6 billion by 2030

According to SPER Market Research, the multiplex assays market estimated to reach USD 5.6 billion by 2030 with a CAGR of 7.2%. The rising prevalence of chronic disorders require advanced diagnostic tools and testing methods for early detection and better treatment.

Impact of COVID-19 on the Multiple Assays Market

Multiplex assay market has grown significantly during the COVID-19 pandemic. Multiplex assays have been utilized for the diagnosis of SARS-CoV-2. The regulatory approvals were also relaxed to fasten the manufacturing and availability in the market to meet elevated demand. Temporary operational challenges were observed due to lockdowns. Overall, a positive impact is being observed with relaxation in travelling restrictions and rising demand for diagnosis purpose.

Scope of the report:

Market size available for years
2019-2030

Base year considered

2021

Forecast period

2022-2030

Segments covered

By Product & Service, By Type, By Technology, By Application, By End User

Geographies covered

North America, Europe, APAC, Latin America and the Middle East & Africa

Companies Covered

Abcam Plc, Agilent Technologies, Inc., Antigenix America, Inc., AYOXXA Biosystems GmbH, Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Bio-Techne Corporation, Boster Biological Technology, Cayman Chemical Company, DiaSorin S.p.A., Enzo Life Sciences, Inc., Illumina, Inc, Luminex Corporation, Merck KGaA, Meso Scale Diagnostics Olink, PerkinElmer, Inc., Promega Corporation, Qiagen N.V., Quanterix, Randox Laboratories, Seegene, Shimadzu Biotech, Siemens Healthineers, Thermo Fisher Scientific Inc.

Driver:Rising use of multiplex assays

The use of multiplex assays is rising due to the increasing prevalence of chronic diseases and advantages offered by multiplex assays over singleplex assays. Multiplex assays provide faster delivery of diagnostic results and detection at lower concentration of reagents and analytes as compared to traditional and singleplex assays.

Restraint:High equipment cost and stringent regulatory framework

The equipment utilized in the manufacturing of multiplex assays are expensive which creates challenges to provide multiplex assay testing at an affordable cost. Additionally, the standards for Quality control are more stringent for multiplex assays in comparison to singleplex assays.

Opportunity:Rising validation of biomarkers

The validation of biomarkers is increasing in protein and molecular diagnostics. The technological advancements in multiplex assay testing instruments will increase efficiency and accuracy of the results which will create growth opportunities for multiplex assay market in the diagnosis of neurodegenerative disorders, cancer and autoimmune diseases.

Challenge:Lack of skilled technicians

There is a lack of skilled technicians who can handle multiplex assay instruments. This can pose a challenge to the growth of this market.

Multiple Assays Market by Product & Service:

Based on product and service, market has been segmented into Consumables, Instruments, Software & Service

Multiple Assays Market by Type:

Based on type, market has been segmented into 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

Multiple Assays Market by Technology:

Based on technology, market has been segmented into Flow Cytometry, Fluorescence Detection, Luminescence, Multiplex Real-Time PCR, Other Technologies

Multiple Assays Market by Application:

Based on application, market has been segmented into 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

Multiple Assays Market by End User:

Based on end user, the market is segmented into Pharmaceutical & Biotechnology Companies, Hospitals & Research Institutes, Reference Laboratories, Other End Users

Pharmaceutical & biotechnology companies have the largest share of this market by end user due to rising adoption of multiplex assay testing in drug development process and rising focus on monoclonal antibodies & biosimilar products.

Multiple Assays Market by Region:

North America owns the largest share of this market due to factors such as presence of strong pharmaceutical industry, high Research and Development investment, technological advancement and growing biotechnology companies.