Multiplex Assays Market - Industry Analysis, Market Size, Share, Trends, Growth And Forecast 2020 - 2025

Multiplex Assays Market size is estimated to reach $4.30bn by 2025, growing at a CAGR of 7.3% during the forecast period 2020-2025. Multiplex Assay is a type of immunoassay that uses magnetic beads to measure multiple analytes in a single experiment and is derivative of an ELISA using beads for binding the capture antibody. Increase in the adoption of companion diagnostics, growing research activities in the pharmaceutical and biotechnological industries, increase in the funding’s by governments and growing focus for enhancing the efficiency of experiments are the factors that are set to drive the growth of the global market for the forecast period 2020-2025.

The report: “Multiplex Assays Market Forecast (2020-2025)”, by Industry ARC, covers an in-depth analysis of the following segments of the Multiplex Assays Market. 

By Product Type: Consumables and Instruments.

By Type: Nucleic-Based Multiplex Assay, Protein-Based Multiplex Assay and Cell-Based Multiplex Assay.

By Technology: Multiplex PCR, Flow Cytometry, Fluorescence Detection, Multiplex Microarray, Others.

By Application: Clinical Diagnostics, Research and Development, Others.

By End User: Hospitals, Pharmaceutical and Biotechnological Companies, Clinical Laboratories, Research Institutions, Others.

By Geography: North America, Asia-Pacific, Europe, and Rest of World (RoW).

Based on the Type, the Nucleic-Based Multiplex Assay segment held the largest share in 2019 owing to its applications such as molecular diagnosis of human diseases, high specificity and sensitivity and ability to interrogate more than one marker simultaneously in each sample. Protein-Based Multiplex Assay segment is estimated to be the fastest growing segment during the forecast period 2020-2025. The growth in this segment is owing to its applications such as enabling researches to profile multiple analytes simultaneously and examines multiple proteins rather than having to run multiple assays to look for each protein separately.

Based on the Technology, Flow Cytometry segment held the largest share in 2019 owing to its applications such as characterization of cell types, measurement of protein expression, quantification of intensities and sorting of predefined cells. Multiplex PCR segment is estimated to be the fastest growing segment owing to the factors such as increasing accuracy of data normalization, reduction in the input material required, cost effective and higher throughput.

Based on the Geography, North America held the largest share in 2019. The growth in this segment is owing to the factors such as advancements in technology, increase in the research and development activities, increase in the focus to develop novel drugs and growing patient population. Asia-Pacific is estimated to be the fastest growing segment owing to the factors such increase in the investment by the major companies in the developing nations, growing prevalence of cataract and increase in the funding by government agencies.

The increase in the use of TDM in anticancer therapies, owing to the factors such as increase in cancer patients, increasing focus on patient care and growing focus on improving efficacy and reducing toxicity is estimated to enhance the growth of Multiplex Assays Market. Advancements in technology and increase in the funding’s by the governments are also the factors which enhance the growth of Multiplex Assays Market.

There is an increase in the research in pharmaceutical and biotechnological companies owing to high number of diseases, well-developed infrastructures and advancements in technology. This led to rapid increase in the growth of Multiplex Assays Market. Increase in the adoption of companion diagnostics is also estimated to enhance the growth of the Multiplex Assays Market.

The increasing pressure on healthcare systems to provide services at low cost is the major factor that is estimated to reduce the growth of the Multiplex Assays Market. The complexity of clinical trial procedures is also said to reduce the growth of the Multiplex Assays Market.

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Multiplex Assays Market. Key companies of this market are Agilent Technologies, Thermo Fisher Scientific Inc, Bio-Rad Laboratories Inc, QIAGEN, Randox Laboratories Ltd, Illumina Inc, Meso Scale Diagnostics LLC, Luminex Corporation, Sysmex Corporation, Bio-Techne, among others.