Global Multiplex Detection Immunoassay Market to Grow at a CAGR of 6%

According to Persistence Market Research's latest report, the Global Multiplex Detection Immunoassay Market size will surpass US$ 3,035.9 Million in terms of market value by 2024, at a moderate CAGR of 4.2%. According to the report, lab-on-chip technology's rapid, low sample consumption, and cost-effective qualities are boosting the multiplex detection immunoassay industry to new heights.

Planar-based multiplex detection immunoassays have developed as a favored tool for clinical diagnosis and food contamination detection in recent years. The advancement of nanosciences has pushed nano multiplex detection immunoassay arrays to the next level, representing an ultra-miniaturized version of the traditional microarray.

The drug screening procedure has grown more efficient and time-efficient as improved nanoarray technology has evolved. Since it requires a minimal amount of sample, these nanoarrays are also employed in the field of proteomics. Technological advances, as well as other factors, are expected to fuel the growth of the Multiplex Detection Immunoassay Market.

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Companies

Bio-Rad Laboratories Inc.
Thermo Fisher Scientific
EMD Millipore (Merck KGaA.)
Becton, Dickinson and Company.
Microsynth AG
Quansys Biosciences Inc
QIAGEN N.V.
F. Hoffmann-La Roche Ltd.
Danaher Corporation.
Luminex Corporation

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Impact of Covid-19 on Multiplex Detection Immunoassay Market

The COVID-19 pandemic has had a beneficial influence on the Multiplex Detection Immunoassay Market. Multiplex SARS-CoV-2 tests, such as multiplex point-of-care assays, were in high demand. However, some companies also experienced operational issues that hampered their commercial operations during the lockdown. However, with the removal of the lockdown and the exceptional demand for the diagnostic, the revenues have increased substantially.

North America to dominate the Global Multiplex Detection Immunoassay Market

Earlier, North America was the largest regional market for Multiplex Detection Immunoassay Market. From 2022 to 2024, North America is projected to account for the greatest proportion of the Multiplex Detection Immunoassay Market, followed by Europe. The North American market's dominance is largely due to its established pharmaceutical sector, the presence of significant pharmaceutical and biotechnology businesses, and strong R&D expenditure.

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This release was published on openPR.