Multiplex Assays Market Size to Record USD 5.57 Billion by 2030, at 7.2% CAGR: Analysis Covering COVID-19 Impact by Polaris Market Research
The global Multiplex Assays Market size was valued at USD 3.03 Billion in 2021 and is anticipated to reach USD 5.57 Billion by 2030, to grow at a CAGR of 7.2%during the forecast period.
The key factors driving the market’s growth include adopting multiplex assays across various verticals such as health services and others. Due to the growing use of customized treatment and benefits over standard tests, the market is expected to rise rapidly. Medical science, which has gained popularity in recent years, strives to provide individual patients with tailored therapies based on the molecular foundation of their disease.
Based on the type, the nucleic acid segment accounted for the leading share in the industry in 2021. This is due to the rising use of nucleic acids, ease of configuration to detect practically any target, low sample volume requirements, and level of automation to be achieved. A rise in the use of molecular diagnostic tests developed to diagnose diseases, such as human genetic markers, such as cancer, and genetic markers for disease predisposition also contributes to the economic development of the nucleic acid-based segment.
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Market players such as Luminex Corporation, Enzo Life Sciences, Inc., Promega Corporation, Meso Scale Diagnostics, Quanterix, Thermo Fisher Scientific Inc., Qiagen N.V., Illumina, Inc, Shimadzu Biotech, Abcam plc, Bio-Rad Laboratories, Inc., Becton Dickinson and Company, Randox Laboratories, Merck KGaA, Agilent Technologies, Inc., Olink, DiaSorin S.p.A., Antigenix America, Inc., Siemens Healthineers, PerkinElmer, Inc., Boster Biological Technology, Seegene, and Cayman Chemical Company are some key players operating in the global market.
In August 2021, The BD COR System, a new automated diagnostic system from Becton, Dickinson, and Company, was released. In centralized laboratories across the U.S., the system uses robots and sample management software algorithms for genetic disease testing. Thus, the development of new technologies by major players and adoption of them across various laboratories is boosting the market growth during the forecast period.
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Impact Analysis of COVID-19 Pandemic
The report sheds light on the impact of the COVID-19 pandemic on the Multiplex Assays market growth with a detailed analysis. Our research framework covers the analysis on the ongoing COVID-19 outbreak featuring its impact on target industry, market players, revenue model, and potential paths forward. The research report delivers insights studying the major changes in consumer demand, purchasing behavior, dynamics of current market forces, and interventions of the local bodies and governments. The most authentic study covered in the research report gives a clear picture of the market patterns amid the pandemic period and suggestions for the market players to consider for the post-pandemic period.
Segmentation of Multiplex Assays Market
The research report also allows readers to help understand the actual dynamics of the market by analyzing it at the macro and micro level thorough segmentation of the market. An in-depth analysis of the global market comprises detailed segmentation of the market by type, application, end-user and region. This part of the report also focuses on the major dominating segments along with their revenue-generation model and predictions for the future. These key insights are extremely crucial for market players to find the actual potential of the market and work in the right direction to achieve higher revenues.
Polaris Market Research has segmented the multiplex assays market report based on type, technology, application, end-user, and region:
Multiplex assays, Type Outlook (Revenue – USD Billion, 2018 – 2030)
- Planar Protein
- Bead-Based Protein
- Other Protein
- Nucleic Acid
- Planar Nucleic Acid
- Bead-Based Nucleic Acid
- Other Nucleic Acid
Multiplex assays, Technology Outlook (Revenue – USD Billion, 2018 – 2030)
- Flow Cytometry
- Fluorescence Detection
- Multiplex Real-Time PCR
- Other Technologies
Multiplex assays, Application Outlook (Revenue – USD Billion, 2018 – 2030)
- Research & Development
- Drug Discovery & Development
- Biomarker Discovery & Validation
- Clinical Diagnostics
- Infectious Diseases
- Cardiovascular Diseases
- Autoimmune Diseases
- Nervous System Disorders
- Metabolism & Endocrinology Disorders
Multiplex assays, End-User Outlook (Revenue – USD Billion, 2018 – 2030)
- Pharmaceutical & Biotechnology Companies
- Hospitals & Research Institutes
- Reference Laboratories
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The regional section for the Multiplex Assays market size provides a detailed study of each major regional market across the globe. The report includes key details regarding the underlying patterns in the region with regards to the market and predicts the future trends for each regional market. Major data points such as import-export analysis, consumption volumes, cost of raw materials, production sites and volumes, downstream and upstream value chain analysis, and price trend analysis are used to forecast the possible scenario for the individual region.
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