Growing Pains for Multiplexed Diagnostics Market Could be Solved by Development of Automated Equipment

Multiplexed diagnostics are a group of advanced methods of assays that delivers analysis results for multiple analytes in a single cycle of the assay. This is in contrast to traditional assay systems, which required that every analyte be examined separately, thus increasing labor costs, complications, and risk of errors. Multiplexed diagnostics eliminate these issues and are thus growing in stature in the global perspective.The global multiplexed diagnostics market was worth less than US$3 billion in 2012, according to Transparency Market Research, a leading market analysis firm based in the U.S. According to TMR analysts, the market is expected to grow at a stunning CAGR in excess of 19% from 2013 to 2019 to eventually reach a value of US$9.8 billion.

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Growing Prevalence of Cancer to Drive Global Multiplexed Diagnostics Market

The market for multiplexed diagnostics is gaining from the increasing incidence of various types of cancer around the world. Multiplexed diagnostics are emerging as the best option for cancer diagnosis, due to their efficiency and precision. The growing prevalence of other, infectious diseases is also driving the global multiplexed diagnostics market.The advancement of the Human Genome Project and the resultant addition in our knowledge about our own genomic structure has greatly enhanced the growth prospects of the global multiplexed diagnostics market. Genomic causality of various diseases is now being research in earnest, further increasing the scope for the multiplexed diagnostics market in the coming few years.

Nascent Technological Background Poses Challenge for Global Multiplexed Diagnostics Market

Despite its utility in the diagnosis of several deadly diseases in the modern world, the field of multiplexed diagnostics is restrained by numerous challenges that every technological innovation has to face.High costs of multiplexed diagnostic equipment, due to its high technical sophistication, is a major hindrance to the global market’s growth. As usage of the technology spreads, the costs will be lowered, but marketing tactics from major market players need to be enhanced for that to happen.

Growing regulatory support and government aid to nascent medical technology will also help conquer this hurdle.Lack of skilled labor trained in the handling of multiplexed diagnostic equipment is also one of the major growing pains of the global multiplexed diagnostics market. As with high costs of the equipment, the wider spread of the technology will make more medical practitioners aware of it, helping assuage this problem.

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Another solution to the problem of a lack of skilled technicians is the development of automated multiplexed diagnostics. This is a growing trend in many fields of the medical industry, with automated medical devices steadily gaining preference over manual ones owing to their higher convenience to both practitioner and patient. Development of the competitive landscape of the global multiplexed diagnosis market is expected to be focused on automation in the coming years.

Agilent, Affymetrix, F. Hoffman-La Roche Lead Consolidated Multiplexed Diagnostics Market

The global market for multiplexed diagnostics is highly consolidated in nature, due to the novel nature of the technology and the consequent difficulty in acquiring it at present. Companies such as F. Hoffman-La Roche Ltd., Agilent Technologies, Inc., bioMerieux, Inc., Affymetrix, Inc., Bio-Rad Laboratories, Inc., and Life Technologies Corporation lead the market owing to their established research channels, and are expected to monopolize the market’s growth trajectory in the coming years.

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