Multiplex Assays Market on Track to Surpass USD 5.9 Billion

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Wilmington, Delaware, United States, March 18, 2024 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global multiplex assays market is estimated to be valued at US$ 5.9 billion by 2031. As of 2022, the market valuation turned out to be US$ 3.2 billion. This is expected to rise at a moderate CAGR of 6.9%. Various forces might be responsible for such a growth rate of the market.

Multiplexed point-of-care testing has been emerging. It simultaneously detects various analytes at a particular site. Due to this, a single specimen is tested more easily and in less time. Consequently, this enhances the efficiency of testing. As a result, the demand for the same is constantly rising. This creates an assertive market force that heavily drives the market under consideration, leading it to moderate growth.

In the contemporary medical field, multiplex immunoassays are employed on a large scale. It helps medical professionals to detect the presence of antibodies in humans. These autoantibodies generated can be seen simultaneously, which enhances the efficiency of medical testing. Additionally, the prevalence of autoimmune diseases has been rising, which creates a crucial market driver for the subject market.

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The cost-effectiveness of multiplex assays is more than that of singleplex assays. The main reason is the high output-per-volume ratio delivered by multiplex assays. Also, due to the limited conservation of sample volume, the target accuracy is enhanced. This adds value to multiplex assays, proving to be a positive market force.

Key Findings from the Market Report

  • The global multiplex assay market is segmented based on product type, the technology used, the type of ingredient, its application, and the end-user industry. The consumable market segment uses edible products that form a substantial market segment area.
  • Multiplex RT-PCR is the market segment that amplifies multiple target sequences. This allows the user to enrich the target by amplifying.
  • The protein assay market segment generates knowledge regarding the concentration level of an array of proteins in the body.
  • Research development is another crucial market segment that signifies the development of the existing structure of multiplex assays.

Key Developments in the Multiplex Assays Market

  • In February 2023, real-time PCR kits were launched by Thermo Fisher Scientific in India to arrest and detect the presence of infectious diseases.
  • In September 2023, GT Molecular, Inc. partnered with F. Hoffmann-La Roche AG. These organizations’ strategic alliances helped them gain more competitive space within the market.
  • In November 2023, DiaSorin S.p.A. collaborated with Gilead Sciences. This collaboration resulted in developing a fully automated diagnostic assay for the hepatitis delta virus.

Competitive Landscape

The competitive landscape of the global multiplex assays market is coarse. There are various players within the market.

  • DiaSorin S.p.A. is one of the key players known for its molecular diagnostics technology. Also, it offers instruments for the same. Additionally, it provides immunodiagnostics.
  • In the case of Thermo Fisher Scientific, Inc., the medical organization provides various laboratory instruments. Additionally, it gives pipettes, burettes, and many other products.
  • Abcam Limited is known for supplying antibodies for clinical applications. It also offers antibodies for research purposes. It offers immunoassays that are essential to the organization’s product portfolio.

Key Players

  • DiaSorin S.p.A.
  • Thermo Fisher Scientific Inc.
  • Seegene Inc.
  • Meso Scale Diagnostics LLC
  • Abcam Limited
  • Bio-Rad Laboratories Inc.
  • QIAGEN
  • Merck KGaA
  • Quansys Biosciences
  • Illumina Inc.

Regional Profile

  • In the case of North America, a large number of market players working in the global multiplex assays market can be found. Due to this, the scope of growth of the market in the particular region is more. Further, the medical infrastructure in countries like Canada and the USA has grown. Thus, it proves to be the largest contributor to the subject market.
  • Similarly, Europe has also developed medical infrastructure, which fuels R&D related to multiplex assays. Therefore, Europe contributes substantially to the subject market, securing a respectable market share.
  • Apart from this, Asia Pacific, Africa, and the Middle East are some regions that contribute to the market growth under consideration.

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Market Segmentation

Product

  • Reagents & Kits
  • Micropipettes & Microplates
  • Others

Technology

  • Multiplex RT-PCR
  • Flow Cytometry
  • Luminescence
  • Fluorescence
  • Others

Type

Application

  • Drug Discovery & Research
  • Biomarker Research & Application
  • Infectious Diseases
  • Autoimmune Diseases
  • Cancer
  • Cardiovascular Diseases
  • Neuroendocrine Diseases
  • Others

End User

  • Biotechnology & Biopharmaceutical Companies
  • Academic & Research Centers
  • Diagnostic Centers
  • Hospitals
  • Others

Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

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