Multiplex Assays Market to Register Healthy Growth in Coming Years
Adoption of companion
diagnostics in various therapies and increasing R&D activities in
pharmaceutical sector to drive global multiplex assays market
According
to TechSci Research report, “Global
Multiplex
Assays Market By Product (Reagents & Consumables, Accessories &
Instruments, Software & Services), By Type (Nucleic Acid, Protein,
Cell-based), By Technology (Flow Cytometry, Fluorescence Detection, Luminescence,
Multiplex Real-Time PCR, Others), By Application (Research & Development
(Drug Development, Biomarker Discovery & Validation), Clinical Diagnosis
(Infectious Disease, Cancer, Cardiovascular Disease, Autoimmune Disease,
Nervous System Disorders, Others), By End User (Pharmaceutical & Biotechnology
Companies, Hospitals & Research Institutes, Reference Laboratories, Others),
By Region, Forecast & Opportunities, 2025”, the market is expected to witness significant growth rate
during the forecast period owing to the increasing research and development
activities being carried out in pharmaceutical industry. The adoption of companion
diagnostics, which includes application of multiplex assay to ensure the safety
and efficacy of therapies, is one of the major factors driving the growth of
this market. Also, advantages offered by multiplex assays over singleplex and
traditional assays is also expected to contribute to the growth of this market
in the coming years.
Additionally, multiplex assays are being used in
clinical trials as they reduce the cost of research & manual labor and are
also claimed to increase the efficiency of experiments and therapies. They
offer faster and easier analysis of chronic diseases. This is anticipated to
result in high growth of multiplex assays market during the forecast period.
However, multiplex assays market also faces some
restraints. They require high capital investment which might limit the market
growth. Also, there is a dearth of skilled professionals to carry out multiplex
assays, which is hindering the growth of this market.
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The global
multiplex assays market is segmented based on product, type, technology,
application, end user and region. Based on type, the market is segmented into nucleic
acid, protein and cell-based multiplex assay. The protein based segment
accounts for largest market share owing to their wide application in analyzing
unknown proteins and their functions. However, the nucleic acid segment is
anticipated to witness fastest growth during the forecast period owing to their
increased use in clinical diagnostics. Nucleic acid assays tend to give more
specific results with an ease.
Based
on product, the global multiplex assays market is segmented into reagents &
consumables, accessories & instruments and software & services. The
consumables segment is expected to hold dominance in the global market during
the forecast period owing to increasing number of immunoassay tests being conducted
around the world due to the rising prevalence of chronic and infectious diseases.
The increase in diagnostic and immunoassay has led to bulk purchase of
consumables.
Major players operating in the global multiplex
assays market include Thermo Fisher Scientific Inc, Luminex Corporation, Illumina
Inc, Qiagen N.V., Bio Rad Laboratories Inc, Abcam Plc, Agilent Technologies, Merck
Sharp & Dohme Corp, Randox Laboratories Ltd, Meso Scale Diagnostics LLC, Seegene
Inc., Becton, Dickinson and Company, Quansys Biosciences, Olink, Bio-Techne, Johnson
& Johnson Services, Inc. and Hoffmann-La Roche Ltd.. The market players are
undertaking collaborations, mergers & acquisitions as their key strategies
to expand their presence.
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“Region
wise, North America is expected to hold dominance over the global multiplex
assays market during the forecast period owing to increasing per capita
expenditure on healthcare in the region. The region also has technologically
advanced healthcare infrastructure which enables ease of operation for
multiplex assay companies. However, Asia Pacific is also emerging as a growing
market owing to the initiatives taken by various governments to improve their
healthcare infrastructure,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global Multiplex Assays Market By Product (Reagents
& Consumables, Accessories & Instruments, Software & Services), By Type
(Nucleic Acid, Protein, Cell-based), By Technology (Flow Cytometry,
Fluorescence Detection, Luminescence, Multiplex Real-Time PCR, Others), By Application
(Research & Development (Drug Development, Biomarker Discovery &
Validation), Clinical Diagnosis (Infectious Disease, Cancer, Cardiovascular
Disease, Autoimmune Disease, Nervous System Disorders, Others), By End User (Pharmaceutical & Biotechnology
Companies, Hospitals & Research Institutes, Reference Laboratories, Others),
By Region, Forecast & Opportunities, 2025” has
evaluated the future growth potential of global multiplex assays market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global multiplex assays market.
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