The growing adoption of multiplex assays is driven by their ability to provide comprehensive and simultaneous analysis of multiple analyses in a single sample, leading to improved efficiency and cost-effectiveness. Through detecting multiple biomarkers at once, researchers and clinicians can obtain a more comprehensive understanding of biological processes and disease mechanisms. These advantages make multiplex assays an attractive option for researchers and healthcare professionals seeking comprehensive and efficient analysis of multiple analytes in various fields of study.
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Data Bridge Market Research analyses that the Multiplex Assays Market is expected to undergo a CAGR of 7.13% during the forecast period of 2022 TO 2029. This indicates that the market value, which was USD 3.00 billion in 2021, would rocket up to USD 8.24 billion by 2029. The growing demand for efficient and accurate diagnostic methods has led to the development of multiplex assays. These assays enable simultaneous detection and analysis of multiple analytes, saving time and resources in the diagnosis of diseases.
Key Findings of the Study
Growing adoption of point-of-care testing is expected to drive the market's growth rate
The growing adoption of point-of-care testing (POCT) has led to an increased demand for multiplex assays. Multiplex assays offer the advantage of simultaneous detection of multiple analytes, allowing for quick and efficient diagnosis and monitoring in various healthcare settings. With their ability to provide rapid results on-site, multiplex assays enhance the convenience and accessibility of POCT, supporting decentralized healthcare and enabling timely decision-making for improved patient outcomes.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Products and Services (Reagents and Consumables, Instruments and Accessories and Software and Services), Type (Nucleic Acid Multiplex Assays, Protein Multiplex Assays and Cell-Based Multiplex Assays), Technology (Protein Microarray, Polymerase Chain Reaction, Multiplex Real-Time Polymerise Chain Reaction, Flow Cytometry, Fluorescence Detection, Luminescence and Others), Application (Clinical Diagnostics and Research and Development), End User (Hospitals, Clinical Laboratories, Pharmaceutical and Biotechnology Companies, Research Institutes and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Luminex Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), Illumina, Inc (U.S.), Bio-Rad Laboratories, Inc. (U.S.), QIAGEN (Netherlands), Abcam plc (U.K.), BD (U.S.), Merck KGaA (Germany), Agilent Technologies, Inc. (U.S.), Meso Scale Diagnostics (U.S.), Randox Laboratories (U.K.), Quanterix (U.S.), Bio-Techne Corporation (U.S.), Olink (Sweden), DiaSorin S.p.A. (Italy), Seegene (South Korea), Promega Corporation (U.S.), Siemens (Germany), PerkinElmer, Inc. (US) and Shimadzu Corporation (Japan) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The multiplex assays market is segmented on the basis of products and services, type, technology, application and end user.
- On the basis of products and services, the multiplex assays market is segmented into reagents and consumables, instruments and accessories and software and services. Reagents and consumables segment is estimated to lead the global multiplex assays market with a CAGR of 7.8% in the forecast period 2022 to 2029 due to essential components required for performing multiplex assays. These products include assay kits, antibodies, probes, buffers, and other consumables.
In 2022, Reagents and consumables segment is estimated to lead the product and service segment of the global multiplex assays market
In 2022, Reagents and consumables segment is estimated to lead the product and service segment of the global multiplex assays market owing to essential elements needed to carry out multiplex assays. Assay kits, antibodies, probes, buffers, and other consumables are among these products with a CAGR of 7.8% in the forecast period 2022 to 2029.
- On the basis of type, the multiplex assays market is segmented into nucleic acid multiplex assays, protein multiplex assays, and cell-based multiplex assays. Nucleic acid multiplex assays segment is estimated to lead the type segment of the global multiplex assays market with a CAGR of 8.0% in the forecast period 2022 to 2029 due to their wide range of applications in genetic research, diagnostic testing, and infectious disease detection. These assays enable simultaneous detection and analysis of multiple nucleic acid targets, providing valuable insights into gene expression, mutations, and infectious agents.
- On the basis of technology, the multiplex assays market is segmented into protein microarray, polymerase chain reaction, multiplex real-time polymerise chain reaction, flow cytometry, fluorescence detection, luminescence and others. Protein microarray segment is estimated to lead the technology segment of the global multiplex assays market with a CAGR of 7.6% in the forecast period 2022 to 2029 due to its ability to simultaneously analyze thousands of proteins in a high-throughput manner. This technology offers researchers valuable insights into protein interactions, biomarker discovery, and disease profiling.
- On the basis of application, the multiplex assays market is segmented into clinical diagnostics and research and development. The clinical diagnostics segment is expected to dominate the global multiplex assays market with a CAGR of 7.8% in the forecast period 2022 to 2029 due to ultiplex assays in clinical diagnostics offer advantages such as reduced turnaround time, cost-effectiveness, and improved patient management, making them essential tools for disease screening, monitoring, and personalized treatment approaches.
In 2022, the clinical diagnostics segment is expected to dominate the application segment of the global multiplex assays market
In 2022, the clinical diagnostics segment is expected to dominate the global multiplex assays market owing to its capacity to quickly and accurately diagnose disease by simultaneously detecting several disease markers. Clinical diagnostic multiplex assays are crucial tools for disease screening, monitoring, and individualized treatment methods because they provide benefits such as faster turnaround times, lower costs, and better patient management with a CAGR of 7.8% in the forecast period 2022 to 2029.
- On the basis of end user, the multiplex assays market is segmented into hospitals, clinical laboratories, pharmaceutical and biotechnology companies, research institutes, and others. The hospitals segment is expected to dominate the global multiplex assays market with a CAGR of 8.4% in the forecast period 2022 to 2029 due to their central role in patient care and diagnostics. Multiplex assays provide hospitals with the capability to efficiently analyze multiple disease markers, leading to faster and more accurate diagnoses, improved patient outcomes, and enhanced treatment decision-making.
Major Players
Data Bridge Market Research recognizes the following companies as the major multiplex assays market players in multiplex assays market are BD (U.S.), Merck KGaA (Germany), Agilent Technologies, Inc. (U.S.), Meso Scale Diagnostics (U.S.), Randox Laboratories (U.K.), Quanterix (U.S.), Bio-Techne Corporation (U.S.), Olink (Sweden), DiaSorin S.p.A. (Italy), Seegene (South Korea), Promega Corporation (U.S.), Siemens (Germany)
Market Development
- In 2021, Bio-Rad Laboratories launched its Bio-Plex Pro Human IgA and IgM SARS-CoV-2 panels to detect IgA and IgM antibodies against four SARS-CoV-2 antigens. The panels are for research use only (RUO).
- In 2021, DiaSorin S.p.A. received the CE mark approval for its Simplexa COVID-19 and Flu A/B Direct kit, a multiplex test for the in vitro qualitative detection and differentiation of nucleic acid from severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), influenza A virus, and influenza B virus from the same patient sample in one reaction well.
- In 2021, Becton, Dickinson and Company launched its new and fully automated high-throughput diagnostic system, BD COR System. The system uses robotics and sample management software algorithms to set a new standard in automation for infectious disease molecular testing in core laboratories and other centralized laboratories in the US.
- In 2021, DiaSorin S.p.A. acquired the leading company of multiplex assays, Luminex Corporation, for a price of USD 37.00 per share, that corresponds to a total equity value of approximately USD 1.8 billion.
- In 2021, Thermo Fisher Scientific acquired Mesa Biotech, a privately-held point-of-care molecular diagnostic company. This acquisition strengthened Thermo Fisher's operational excellence, access to raw materials, and existing distribution and sales channels with Mesa's innovative platform with a diverse array of diagnostic products.
Regional Analysis
Geographically, the countries covered in the multiplex assays market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in the multiplex assays market during the forecast period 2022 to 2029
North America's dominance in the multiplex assays market can be attributed to several factors. The region has a robust healthcare infrastructure and a high concentration of healthcare facilities, fostering the adoption of advanced diagnostic technologies such as multiplex assays. Additionally, well-established distribution channels for clinical microbiology products contribute to the market's expansion. The region's significant number of research activities also creates a favorable environment for the adoption of multiplex assays in various scientific disciplines.
Asia-Pacific is estimated to be the fastest growing region in the multiplex assays market for the forecast period 2022 to 2029
Asia-Pacific is poised for significant growth in the multiplex assays market due to several factors. The region has seen increased government initiatives aimed at promoting healthcare awareness and improving healthcare infrastructure. The rise in medical tourism has also contributed to the demand for advanced diagnostic methods such as multiplex assays. Additionally, the growing research activities and favorable regulatory environment support the adoption of microbiology testing and other advanced diagnostics. The increasing demand for quality healthcare services further fuels market growth in the Asia-Pacific region.
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