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

2021-12-20
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Published : Dec-2021
No. of Pages : 266
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“Increasing adoption of companion diagnostics and the rising need for effective analytical platforms in research and clinical diagnostics to reduce the operational costs and the time taken for diagnosis are the major factors driving the market growth.”

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.   

“Product and Service accounted for the largest share of the Multiplex Assays Market and is expected to grow at the highest CAGR in the forecast period.”

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.

“Protein-based multiplex assays segment is expected to account for the largest share of the global multiplex assays market and is expected to grow at the highest CAGR in the forecast period.”

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.

“Flow cytometry segment is expected to account for the largest share of the global multiplex assays market and is expected to grow at the highest CAGR in the forecast period.”

On the basis of technology, the global multiplex assays market is divided into flow cytometry, multiplex RT PCR, luminescence, fluorescence detection, and other technologies. In 2020, the flow cytometry segment is expected to account for the largest share of the global multiplex assays market. The large share can be attributed to the wide applications of flow cytometry in the detection and measurement of protein expression, RNA, and cell health status (cell viability & toxicity) alongside the characterization and identification of various cell types.

“Research & development companies account for the largest share of the Multiplex Assays Market in 2020 and is expected to grow at the fastest CAGR in the forecast period.”

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.

“Pharmaceutical & biotechnology companies account for the largest share of the Multiplex Assays Market in 2020 and is expected to grow at the fastest CAGR in the forecast period.”

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.

“North America will dominate the market during the forecast period.”

Geographically, the Multiplex Assays Market is segmented into four major regions, namely, North America (US and Canada), Europe, Asia Pacific, and Rest of the world. North America was the largest regional market for Multiplex Assays Market in 2020.  North America is expected to account for the largest share of the multiplex assays market in 2020, followed by Europe. The dominant share of the North American market is primarily attributed to its established pharmaceutical industry, presence of leading pharmaceutical and biotechnology companies, and high R&D investment.

The primary interviews conducted for this report can be categorized as follows:

  • By Company Type – Tier 1: 42%, Tier 2: 37%, and Tier 3: 21%
  • By Designation – C-level: 34%, D-level: 42%, and Others: 23%
  • By Region – North America: 32%, Europe: 30%, Asia Pacific: 24%, and Rest of the World: 14%

List of Companies Profiled in the Report

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

Research Coverage:

This report provides a detailed picture of the global multiplex assays market. It aims at estimating the size and future growth potential of the market across different segments, such as type, end user and region. The report also analyzes factors (such as drivers, restraints, opportunities and challenges) affecting market growth. It evaluates the opportunities in the market for stakeholders and provides details of the competitive landscape for market leaders. The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total multiplex assays market. The report forecasts the revenue of the market segments with respect to four major regions.

Reasons to Buy the Report:

The report provides insights on the following pointers:

  • Market Penetration: Comprehensive information on multiplex assays offered by the top 15 players in the multiplex assays market. The report analyses the multiplex assays market by product & service, type, technology, application, end user, and region
  • Market Development: Comprehensive information about lucrative emerging markets. The report analyses the markets for various multiplex assays across key geographic regions.
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the multiplex assays market.
  • Competitive Assessment: In-depth assessment of market ranking and strategies of the leading players in the multiplex assays market.
Filed in: Biotechnology
Publisher : marketsandmarkets
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