Increasing research and development activities, growing implementation of precision medicine, and surging preference for multiplex assays over conventional assays are some of the key factors driving global market revenue growth

Market size: USD 2.72 billion in 2020, Market Growth: CAGR of 7.9%, Market Trends: Technological developments in multiplex assays and advancements in nanotechnology

The global multiplex assays market size is expected to reach USD 4.91 billion by 2028 and register a CAGR of 7.9% over the forecast period, according to the latest report by Reports and Data. Increasing prevalence of cancer, Alzheimer's, and other chronic diseases, rising adoption of personalized medicines, and increasing implementation of multiplex assays are some key factors boosting global market revenue growth.

Multiple assays are a type of immunoassays that help in quantifying multiple analytes in a single reaction cycle. These are derived from ELISA and are more preferred over singleplex ELISA as they are highly efficient, have greater throughput, and are time-efficient due to ability or enable analysis of multiple samples in a single run.

Global market growth is gaining traction due to technological developments in these assays, growing prevalence of chronic diseases, and increasing government funding for research. Moreover, factors, such as investments by key players to develop new and improved products and increasing adoption of personalized medicine are factors augmenting market revenue growth.

Leading companies operating in the market and profiled in the report include:

Abbott Laboratories, Hoffmann-La Roche, Siemens Healthineers, Thermo Fisher Scientific, Danaher Corporation, Bio-Rad Laboratories, Biomérieux, Bühlmann Laboratories, Sekisui Medical, and Randox Laboratories

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Market Dynamics:

The pharma & healthcare sectors has been rapidly growing over the last few decades. Technological advancements in healthcare sector, emergence of various diseases, COVID-19 outbreak are key factors boosting global market revenue growth. Growing need to develop new drugs and medical devices to cater to emerging diseases, high investments in research and development activities, and improvements in healthcare infrastructure and facilities is expected to fuel global market growth over the forecast period. In addition, adoption of AI in various healthcare application, funding from various private and public organizations to boost research activities in pharmaceutical and biotechnology sector and vaccine production during the current pandemic situation is also expected to boost market growth.

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Competitive Landscape:

Dominant key players in the market are adopting various strategies like mergers and acquisition, partnerships, collaborations, joint ventures and product launches to gain a robust footing in the market. Growing demand for various medical products, increasing adoption of home-care settings, point-of-care diagnosis, high demand for vaccines and medication for controlling COVID-19 is expected to benefit the key companies throughout the forecast period.

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Global  Market Segmentation:

Based On Product & Services: (Revenue, USD Billion, 2018 - 2028)

  • Consumables
  • Instruments
  • Software & Services

Based On Type: (Revenue, USD Billion, 2018 - 2028)

  • Protein Multiplex Assays
    • Planar Protein Assays
    • Bead-based Protein Assays
    • Other Protein Assays
  • Nucleic Acid Assays
    • Planar Nucleic Acid Assays
    • Bead-based Nucleic Acid Assays
    • Other Nucleic Acid Assays
  • Cell-based Assays

Based On Class of Drug: (Revenue, USD Billion, 2018 – 2028

  • Antiepileptic Drugs
  • Antibiotic Drugs
  • Immunosuppressant Drugs
  • Antiarrhythmic Drugs
  • Bronchodilator Drugs
  • Psychoactive Drugs
  • Others

Based On Technology: (Revenue, USD Billion, 2018 - 2028)

  • Flow Cytometry
  • Fluorescence Detection
  • Luminescence
  • Multiplex RT-PCR
  • Other Technologies 
  • Liquid chromatography–mass spectrometry (LC-MS)
  • dPCR
  • Colorimetric Detection

Based On Application: (Revenue, USD Billion, 2018 - 2028)

  • Research & Development
    • Drug Discovery & Development
    • Biomarker Discovery and Validation
  • Clinical Diagnostics
    • Infectious Diseases
    • Cancer
    • Cardiovascular Diseases 
    • Autoimmune Disease
    • Nervous System Disorders
    • Metabolism & Endocrinology Disorders

Based On End Use: (Revenue, USD Billion, 2018 - 2028)

  • Pharmaceutical & Biotechnology Companies
  • Hospitals 
  • Academic & Research Institutes
  • Reference Laboratories
  • Other End Use
    • Blood banks
    • CROs
    • Forensic Labs

The global Multiplex Assays market is broadly divided into 5 major regions, viz. North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Regional Outlook:

  • North America
    • S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • K.
    • Italy
    • France
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • A.E.
    • South Africa
    • Rest of MEA

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