Global Multiplex Assays Market Size 2024, Forecast To 2033
11 Mar, 2024
The multiplex assays market has also exhibited strong growth recently, progressing from $3.61 billion in 2023 to $3.96 billion in 2024, indicating a CAGR of 9.7%. The growth observed during the historic period is credited to escalated healthcare expenditure, the expansion of emerging markets, rapid technological advancements, and a substantial growth in the aging population. Anticipating the future, the market is poised to reach $5.7 billion by 2028, sustaining a CAGR of 9.5%. This growth is linked to increased funding, government initiatives focusing on genetic and microbiological research, a growing aging population, the heightened prevalence of chronic diseases, and the rapid surge in various bacterial and viral epidemics. Significant trends in the forecast period encompass continued rise in funding, government initiatives for genetic and microbiological research, a growing aging population, increasing prevalence of chronic diseases, and a rapid rise in various bacterial and viral epidemics.
Global Multiplex Assays Market Key Driver
The escalating incidence of chronic diseases is propelling the expansion of the global multiplex assay market. Widely used in clinical trials for disease analysis and antibody detection, multiplex assays offer advantages such as quicker analysis over traditional methods. According to a World Health Organization (WHO) report from April 2021, chronic diseases, or non-communicable diseases (NCDs), account for 71% of all global deaths, with over 41 million people succumbing to them annually. The prevalence of NCD-related deaths among individuals aged 30 to 69 is over 15 million per year. Due to the increasing acceptance and benefits of multiplex assays, the market is expected to witness rapid development, driving growth in the forecast period. The market size for multiplex assays is anticipated to align with this trend in 2023, and by 2024 and 2028, the continued adoption of multiplex assays is projected to contribute to the market's sustained growth.
Get A Free Sample Of The Global Multiplex Assays Market ReportGlobal Multiplex Assays Market Segments
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
By Geography:The regions covered in the multiplex assays market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the multiplex assays market in 2023. 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.
Major Multiplex Assays Industry Players
Seegene Inc, DiaSorin SpA, Thermo Fisher Scientific Inc, Bio-Rad Laboratories Inc, Qiagen NV, 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, Dexcom Inc., Medtronic Inc., Senseonics Holdings Inc., Adavium Medical, DK Diagnostics, Crosmed, Ortopedia Alemana, Simed, Ab Enzymes Gmbh, Bluestar Adisseo Co., BASF SE, Chr. Hansen Holding, Novozymes, BiotechAfrica, 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
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Multiplex Assays Market Overview
Multiplex assays are used to amplify multiple targets in a polymerase chain response (PCR) trial and collect further information from nanosecond amounts of proteins or other analyses in lower time as compared to the conventional system, similar to ELISA. Multiplex assays are used for pathogen identification, mutation analysis, RNA discovery, gene discovery analysis, relation analysis, forensic studies, and others.
Multiplex Assays Global Market Report 2023 provides data on the global multiplex assays market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The multiplex assays market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.