Multiplex Assays Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4157
Multiplex Assays Market size is expected to grow significantly from 2019 to 2025.
Increasing preference towards companion diagnostics will prove beneficial for multiplex assays market growth. Companion diagnostics helps in providing efficient and safe therapy that results in enhanced clinical outcomes. Thus, bio-pharmaceutical companies are employing multiple assays as they are used to detect biomolecules and proteins in the sample. Additionally, multiplex analytes simultaneously measure various analytes in a single cycle that rises efficiency in producing medications. Aforementioned factors will benefit the multiplex assays market growth in coming years.
Technological advancements in multiple assays will augment its demand in analysis time frame, thereby profiting market growth. Industry players are highly investing in R&D activities in order to provide superior quality assays. Advances multiplex assays analyze sample in fraction of seconds offering high-quality results. This in turn saves time, cost and labor. As a result, technologically advanced multiplex assays eliminate complexities and gives result in optimum time, thereby exceeding market growth in forthcoming future. However, shortage of lack of experienced professionals will hamper market growth up to some extent.
Instruments segment had lucrative revenue share in 2018 and it will tremendously grow in coming years. Instruments used for testing multiplex assays are highly durable and provides effective results in minimum time. These instruments can perform more than 80 different tests at a time. Additionally, many of them are incorporated with CCD imaging technology that eases operation procedure. Thus, durability and advanced functions will rise its preference in clinical laboratories, thereby fueling segment growth.
Protein assays segment is anticipated to witness substantial growth in forthcoming future. Protein assays are used for detecting enzyme linked immunosorbent assays and western blotting to analyze extracellular and intracellular proteins. Industry players are taking efforts in developing protein assays that could efficiently deliver results. For instance, Thermo Fisher Scientific have developed Novex multiplex immunoassays for quantification and detection of multiple proteins simultaneously that saves money, sample and time. Effective results achieved through protein assays will rise its usage thereby, driving segment growth.
Flow cytometry had lucrative revenue in 2018 and it will grow substantially in coming years. Flow cytometry multiplex assay technology works on basis of bead population and is useful for computing specific antibody level in biological fluids. Researchers use flow cytometry technique to study drug effectiveness towards various cell types. Additionally, it also enables to analyze protein-protein interactions, DNA/mRNA content and metabolic activities. Increasing study on drug reactions will rise demand for flow cytometry technology based multiple assays, thereby propelling segment growth.
North America multiplex assays market had lucrative revenue share in 2018 and it is anticipated to witness significant growth in forthcoming future. Researchers and scientists in the region are increasingly studying on various domains, that will surge demand for multiplex assays. Moreover, increasing trend of usage of personalized medicines will create need for studying drug-drug interaction that will prove beneficial for industry growth. Aforementioned factors will propel regional market growth in forthcoming future.
Some of the notable industry players operating in the multiplex assays market are cliniSciences, Luminex, Merck, Bio-Rad Laboratories, Becton Dickinson, Illumina, and Thermo Fisher Scientific. These industry platers are taking several initiatives such as mergers and acquisitions, collaborations, product launches, etc. in order to capture more market share, sustain in the market and gain competitive advantage. For instance, in April 2019, Bio-Rad launched BioPlex 2200 Lyme Total Assay. These assays have received FDA clearance and they are used in diagnosing Lyme diseases. Thus, product launches will help company to grab more market share that will exceed its revenue.
Multiplex Assays Market By Product and Service, 2014-2025 (USD Million)
- Software and Services
Multiplex Assays Market By Type, 2014-2025 (USD Million)
- Protein Assays
- Nucleic Acid Assays
- Cell-based Assays
Multiplex Assays Market By Technology, 2014-2025 (USD Million)
- Flow Cytometry
- Fluorescence Detection
- Multiplex RT PCR
Multiplex Assays Market By Application, 2014-2025 (USD Million)
- Research & Development
- Drug Discovery & Development
- Biomarker Discovery and Validation
- Clinical Diagnostics
- Infectious Diseases
- Cardiovascular Diseases
- Autoimmune Disease
- Nervous System Disorders
- Metabolism & Endocrinology Disorders
Multiplex Assays Market By End User, 2014-2025 (USD Million)
- Pharmaceutical & Biotechnology Companies
- Hospitals & Academic Research Institutes
- Reference Laboratories
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Bio-Rad Laboratories
- Becton Dickinson
- Thermo Fisher Scientific
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