Multiplex Assay Market by Type (Nucleic Acid-based Multiplex Assays, Protein-based Multiplex Assays, and Others), by Product (Multiplex Assay Reagents & Consumables, Multiplex Assay Instruments & Accessories, and Multiplex Assay Software & Services), by Technology (Multiplex PCR, Multiplex Protein Microarray, and Others), by Application (Companion Diagnostics, Research & Development, and Clinical Diagnostics), by End User (Hospitals, Clinical Laboratories, Research Institutes, and Pharmaceuticals & Biotechnological Companies) - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Market Definition:

The Global Multiplex Assay Market size was valued at USD 77.8 million in 2019, and is predicted to reach USD 153.9 million by 2030, with a CAGR of 6.4% from 2020-2030.

In a multiplex assay test, multiple analytes are simultaneously measured in a single experiment, thereby amplifying multiple targets in a single PCR (Polymerase Chain Reaction). Multiple assay test collects more information in lesser time with minute quantities of proteins, cytokines, biomolecules, and other analytes.

Multiplex assay tests hold wide applications in clinical laboratories, hospitals, pharmaceutical companies, research institutes, and others; for mutation analysis, DNA & RNA detection, pathogen detection, forensic studies, linkage analysis and other such investigations. Furthermore, the increasing adoption of companion diagnostic systems, are bringing an upsurge in the demand for efficient multiplex assay tests, thereby supplementing the growth of multiplex assay market.

Market Dynamics and Trends

Multiplex Assay market is proliferating, owing to various benefits offered by these automated tests such as, requirement of minimal substrates, different arrays measured in a single trial, faster results, easy operations, reduced labor costs, and higher operational efficacy.

However, high cost of the equipment and stringent regulatory standards are likely to hamper the growth of multiplex assay market. Moreover, increasing investment in the R&D activities for new clinical researches, along with advancements in healthcare facilities and medical laboratories, are anticipated to propagate the growth of the global multiplex assay market, in coming future.

Market Segmentations and Scope of the Study:

The global multiplex assay market share has been analyzed based on product, type, technology, application, end user and geography.

Based on product, the market is segmented into multiplex assay reagents & consumables, multiplex assay instruments & accessories, and multiplex assay software & services. Based on type, the market is fragmented into nucleic acid-based multiplex assays, protein-based multiplex assays, and others. Based on technology, the market is categorized into Multiplex PCR, Multiplex Protein Microarray, and others. Based on application, the market is divided into Companion Diagnostics, Research & Development, and Clinical Diagnostics. Based on end user, the market is divided into hospitals, clinical laboratories, research institutes, and pharmaceuticals & biotechnological companies. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America is expected to retain its dominance in terms of market share over the forecast period owing to the increased adoption of multiplex assay. The other factors such as increase in technological advancement, presence of developed healthcare infrastructures, and increased prevalence of various chronic disorders, are likely to promote the growth of multiplex assay market in this region.

Asia Pacific is expected to show tremendous growth with increasing market share over the forecast period owing to the upsurge in the adoption of companion diagnostics. Furthermore, increased adoption of advanced technology, soaring demand for safe and effective treatment options, as well as new product launches, are expected to fuel the growth of multiplex assay market in this region.

Competitive Landscape

The multiplex assay market is highly competitive and consists of various market players. Some of the major market players include Thermo Fisher Scientific Inc., Luminex Corporation, Bio-Rad Laboratories Inc., Illumina Inc., Becton, Dickinson and Company, QIAGEN N.V., Seegene Inc., Abcam PLC, Randox Laboratories Ltd., and Meso Scale Diagnostics LLC, among others.

The market players are contributing their part in saving the world from the COVID-19 pandemic, by undergoing various R&D activities to carry-out clinical researches, and to develop and deploy new products that can assist in fighting the novel corona virus. Moreover, increasing number of Food and Drug Administration (FDA) approvals further stimulates the growth of multiplex assay market.

In April 2020, Bio-Rad Laboratories Inc., one of the major players in the global multiplex assay market, announced that it has received the Emergency Use Authorization by the U.S FDA for its Droplet Digital PCR (ddPCR) SARS-CoV-2 Test Kit that runs on Bio-Rad's QX200 and QXDx ddPCR systems. Due to high sensitivity of this test it is well-suited for screening upper respiratory track samples in patients either in the early stage of infection, having lower viral load, or in patients recovering from the infection. Hence, it offers higher efficiency and accuracy of the result, as compared to conventional PCR tests.

Also, in the same month, Bio-Rad Laboratories, Inc., announced the launch of ‘Serology Assay,’ a blood-based immunoassay kit, formulated to identify antibodies to the virus associated with COVID-19 pandemic, the SARS-CoV-2. Of the 700 samples detected by this test, 99% success result have been achieved.

Moreover, in March 2020, Thermo Fisher Scientific, one of the major players in the global multiplex assay market, announced the launch of its five new Thermo Scientific SureTect PCR Assay test kits, along with an updated software to test food and related samples. These test kits are used for investigating presence of Cronobacter species, Listeria species, Listeria monocytogenes, Salmonella species, Salmonella Enteritidis, and Salmonella Typhimurium, in food products and consumables. As compared to conventional PCR tests that takes 9 days to give results, the Thermo Scientific SureTect PCR Assay test delivers result in just 24 hours, providing multiplex assay capability up to six STEC targets; hence it is advantageous for commercial testing.

KEY BENEFITS

• The multiplex assay market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.

• The study comprises a deep dive analysis of the multiplex assay market trend including the current and future trends for depicting the prevalent investment pockets in the market.

• The report provides detailed information related to key drivers, restraints, opportunities, and their impact on the multiplex assay market.

• The report incorporates competitive analysis of the market players along with their market share in the global multiplex assay market.

• The SWOT analysis and Porters Five Forces model is elaborated in the study of multiplex assay market.

• Value chain analysis in the multiplex assay market study provides a clear picture of the stakeholders’ roles.

KEY MARKET SEGMENTS:

By Product

• Multiplex Assay Reagents & Consumables

• Multiplex Assay Instruments & Accessories

• Multiplex Assay Software & Services

By Type

• Nucleic Acid-based Multiplex Assays 

• Protein-based Multiplex Assays 

• Others 

By Technology

• Multiplex PCR

• Multiplex Protein Microarray

• Others 

By Application

• Companion Diagnostics

• Research & Development

• Clinical Diagnostics

By End User

• Hospitals

• Clinical Laboratories

• Research Institutes

• Pharmaceuticals & Biotechnological Companies

By Geography

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Rest of Europe

• Asia-Pacific

  • China

  • India

  • Japan

  • Australia

  • Rest of Asia-Pacific

• RoW

  • UAE

  • Saudi Arabia

  • South Africa

  • Brazil

  • Remaining Countries

REPORT SCOPE AND SEGMENTATION:

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