What Is The Current and Historic Market Size Analysis Of Multiplex Assays Market?
The multiplex assays market has seen considerable growth due to a variety of factors.
• The market size of multiplex assays has seen substantial growth in the past years. This market is projected to expand from a value of $3.67 billion in 2024 to $3.92 billion in 2025, experiencing a compound annual growth rate (CAGR) of 6.9%.
This increase during the historic period can be credited to heightened healthcare spending, the expansion of emerging markets, swift advancements in technology, and a quick surge in the elderly population.
What Are The Estimated Market Size And Expected Annual Growth Rates For Globa Multiplex Assays Market?
The multiplex assays market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for multiplex assays is projected to experience significant growth in the upcoming years, projected to reach $5.42 billion in 2029 with an 8.4% Compound Annual Growth Rate (CAGR).
The expected acceleration during the forecast period can be credited to increments in funding, governmental efforts towards genetic and microbiological studies, aging demographic, growth in chronic disease cases, and a swift increase in diverse bacterial and viral outbreaks. Key trends in the forecast period encompass increases in funding, government policies favoring genetic and microbiological research, an aging population, a surge in chronic diseases, and a fast-paced increase in a range of bacterial and viral epidemics.
What Are The Key Drivers Fueling Growth In The Multiplex Assays Market?
The growth of the worldwide multiplex assay market is propelled by a rising prevalence of chronic illnesses. Multiplex assay is extensively utilized in clinical trials to research and evaluate the effectiveness of a disease treatment and to detect antibodies against such diseases. For example, a report released by the World Health Organization, a health organization of the United Nations based in Switzerland, in September 2023, stated that chronic diseases, also referred to as non-communicable diseases (NCDs), account for 74% of deaths worldwide, equating to 41 million deaths. As a result, the escalating prevalence of chronic diseases is fueling the global multiplex assay market.
What Are The Key Segments Within The Global Multiplex Assays Market?
The multiplex assays market covered in this report is segmented –
1) By Type: Protein-Based Multiplex Assays, Nucleic Acid-Based Multiplex Assays, Other Types
2) By Identification Technology: Flow Cytometry, Multiplex Real-Time PCR, Other Identification Technologies
3) By Detection Technology: Enzyme-Linked Immunosorbent Assay (ELISA), Luminescence, Fluorescence, Other Detection Technologies
4) By Application: Research And Development, Clinical Diagnostics
5) By End User: Pharmaceutical And Biotechnology Companies, Hospitals And Research Institutes, Reference Laboratories, Other End-Users
Subsegments:
1) By Protein-Based Multiplex Assays: ELISA (Enzyme-Linked Immunosorbent Assay), Luminex xMAP Technology, Western Blotting, Immunohistochemistry, Mass Spectrometry-Based Assays
2) By Nucleic Acid-Based Multiplex Assays: PCR (Polymerase Chain Reaction), qPCR (Quantitative PCR), NGS (Next-Generation Sequencing), Microarray Analysis, RT-PCR (Reverse Transcription PCR)
3) By Other Types: Cell-Based Multiplex Assays, Bioanalytical Assays, Imaging-Based Assays, Surface Plasmon Resonance (SPR) Assays
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How Are New Trends Impacting The Size Of The Multiplex Assays Market?
Market firms are debuting novel multiplex assay-based tests to solidify their standing in the industry. For example, in May 2022, the UK's QuantuMDx Group Limited, a pioneer in game-changing point-of-care diagnostics, unveiled their latest respiratory panel test named Q-POC SARS-CoV-2, Flu A/B, and RSV Assay. This assay is a multiplex panel that has the capacity to identify SARS-CoV-2, Flu A, Flu B, and RSV at the required point.
Who Are the Key Players in the Multiplex Assays Market?
Major companies operating in the multiplex assays market include:
• Seegene Inc
• DiaSorin SpA
• Thermo Fisher Scientific Inc
• Bio-Rad Laboratories Inc
• Abcam Plc
• PerkinElmer Inc
• Hologic Corporation
• Meso Scale Diagnostics
• Merck KGaA
• Roche Diagnostics India Pvt Ltd
• bioMérieux India
• Becton Dickinson Private Limited
• Danaher Corporation
• Johnson & Johnson
• Simens Healthcare
• Beckman Coulter Inc. India
• Ortho Clinical Diagnostics
• Sysmex Corporation
• Siemens Healthineers Ukraine
• TestLine Clinical Diagnostics s.r.o.
• Cepheid
• F. Hoffmann-La Roche Ltd.
• Hologic
• Bayer AG
• Cantel Medical Corporation
• Meridian Bioscience
• Faizyme Laboratories
• Alere Inc.
• Bangs Laboratories Inc
• The Merck Group
• Takara Bio Inc
• Qiagen
• Spherotech Inc
• Geneaid Biotech Ltd
• Rockland Immunochemicals Inc
• GenScript Biotech Corporation
What are the Regional Insights into the Multiplex Assays Market?
North America was the largest region in the multiplex assays market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the multiplex assays market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
