DUBLIN--(BUSINESS WIRE)--The "Multiplex Assays Market by Product, Type (Nucleic Acid, Protein, Cell), Technology (Flow Cytometry, Luminescence), Application (R&D, Diagnosis), End User (Pharma & Biotech, Reference Laboratory, Hospital) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global multiplex assays market is projected to reach USD 3.35 Billion in 2023 from USD 2.33 Billion in 2018, at CAGR of 7.5%.
Multiplex assays enables the simultaneous detection of multiple analytes in a single run/cycle of the assay. The use of multiplex assays in companion diagnostics for increasing the safety & efficacy of therapies and the advantages of multiplex assays over conventional singleplex assays are driving the growth of the market.
In this report, the market has been categorized based on product & service, type, technology, application, and end user. Based on product and service, the market is segmented into instruments, consumables, and software & services. In 2018, the consumables segment is expected to account for the largest share of the market; it is also the fastest-growing segment of the market. This can be attributed to the recurring purchase of assays and reagents for increasing research applications.
On the basis of type, the global multiplex assays market is divided into protein assays, nucleic acid assays and cell-based assays. In 2018, the protein-based assays segment is expected to account for the largest share of the global market. This large share is attributed to their advantages such as high specificity and sensitivity, easy configuration, minimal usage of samples, and ability to be automated.
In 2018, North America is expected to account for the largest share of the global multiplex assays market. Asia is expected to register the highest growth rate from 2018 to 2023. This can be attributed to its pharmaceutical market which is growing at the fastest pace in the world, the availability of a large number of qualified researchers, and increasing prevalence of cancer and infectious diseases.
The high cost of multiplex assay equipment & standardization of immunoassay design and quality control are the major factors expected to restrain market growth.
The key players in the global multiplex assays market include Luminex (US), Bio-Rad Laboratories (US), Becton, Dickinson (US), Illumina (US), and Thermo Fisher Scientific (US).
Market Dynamics
Drivers
- Use of Multiplex Assays in Companion Diagnostics
- Advantages Over Singleplex and Traditional Assays
Restraints
- High Equipment Costs
- Stringent Regulations and Standards
Opportunities
- Increasing Validation of Biomarkers in Molecular and Protein Diagnostics
- Need for High-Throughput and Automated Systems
Companies Mentioned
- Abcam
- Agilent Technologies
- Becton Dickinson and Company
- Bio-Rad Laboratories
- Bio-Techne
- Illumina
- Luminex
- Merck
- Meso Scale Diagnostics
- Olink
- Qiagen
- Quanterix
- Randox Laboratories
- Seegene
- Thermo Fisher Scientific
For more information about this report visit https://www.researchandmarkets.com/research/lb5637/global_multiplex?w=4
