Multiplex Assay Market Trends together with Growth Forecast to 2030 – Thermo Fisher Scientific Inc., Luminex Corporation

The Global Multiplex Assay Market size was valued at USD 77.8 million in 2019, and is predicted to reach USD 153.9 million by 2030, with a CAGR of 6.4% from 2020-2030.

In a multiplex assay test, multiple analytes are simultaneously measured in a single experiment, thereby amplifying multiple targets in a single PCR (Polymerase Chain Reaction). Multiple assay test collects more information in lesser time with minute quantities of proteins, cytokines, biomolecules, and other analytes.

Multiplex assay tests hold wide applications in clinical laboratories, hospitals, pharmaceutical companies, research institutes, and others; for mutation analysis, DNA & RNA detection, pathogen detection, forensic studies, linkage analysis and other such investigations.

Furthermore, the increasing adoption of companion diagnostic systems, are bringing an upsurge in the demand for efficient multiplex assay tests, thereby supplementing the growth of multiplex assay market.

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Top Companies: Thermo Fisher Scientific Inc., Luminex Corporation, Bio-Rad Laboratories Inc., Illumina Inc., Becton, Dickinson and Company, QIAGEN N.V., Seegene Inc., Abcam PLC, Randox Laboratories Ltd., and Meso Scale Diagnostics LLC

Market Dynamics and Trends

Multiplex Assay market is proliferating, owing to various benefits offered by these automated tests such as, requirement of minimal substrates, different arrays measured in a single trial, faster results, easy operations, reduced labor costs, and higher operational efficacy.

However, high cost of the equipment and stringent regulatory standards are likely to hamper the growth of multiplex assay market.

Moreover, increasing investment in the R&D activities for new clinical researches, along with advancements in healthcare facilities and medical laboratories, are anticipated to propagate the growth of the global multiplex assay market, in coming future.

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Market Segmentations and Scope of the Study:

The global multiplex assay market share has been analyzed based on product, type, technology, application, end user and geography.

Based on product, the market is segmented into multiplex assay reagents & consumables, multiplex assay instruments & accessories, and multiplex assay software & services. Based on type, the market is fragmented into nucleic acid-based multiplex assays, protein-based multiplex assays, and others. Based on technology, the market is categorized into Multiplex PCR, Multiplex Protein Microarray, and others. Based on application, the market is divided into Companion Diagnostics, Research & Development, and Clinical Diagnostics. Based on end user, the market is divided into hospitals, clinical laboratories, research institutes, and pharmaceuticals & biotechnological companies. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America is expected to retain its dominance in terms of market share over the forecast period owing to the increased adoption of multiplex assay. The other factors such as increase in technological advancement, presence of developed healthcare infrastructures, and increased prevalence of various chronic disorders, are likely to promote the growth of multiplex assay market in this region.

Asia Pacific is expected to show tremendous growth with increasing market share over the forecast period owing to the upsurge in the adoption of companion diagnostics. Furthermore, increased adoption of advanced technology, soaring demand for safe and effective treatment options, as well as new product launches, are expected to fuel the growth of multiplex assay market in this region.

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