Multiplex Assays Market: Snapshot
The global multiplex assays market has been displaying an upward movement in its valuation over the last few years. The significant surge in the need for efficient analytical platforms in R&D to reduce the operational cost is boosting the demand for multiple assays across the world. Apart from this, the rising uptake of companion diagnostics to increase the efficacy of therapies and the growing awareness about the benefits of multiplexing over conventional assays have also surfaced as key growth drivers of this global multiplex assays market.
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Going forward, the upswing in the confirmation of biomarkers protein and molecular diagnostics and the need for more automated systems for high output, which require data regarding magnetic beads, are likely to boost this market substantially in the years to come. However, the standardization of quality control and immunoassay design and the high cost associated with multiplex assay equipment may hinder the market’s growth in the near future. The lack of skilled healthcare professionals and the need for large capital investments are also expected to make the matter worse for this market over the next few years. Multiplex assay consumables, instruments, software, and accessories are some of the prominent products available in this market.
Global Multiplex Assays Market: Overview
Assays are used to measure chemical constituent of a sample, and multiplex assays are the advanced version, which can do multiple (dozens or more) assays in a single cycle. As the healthcare sector touches new peaks, the demand for multiplex assays is expected to escalate too in the near future. Consequently, the global multiplex assays market is projected for a robust growth rate during the forecast period of 2017 to 2025.
This report on global multiplex assays market is a thorough overview of the current scenario, and based on an analysis of various factors that are expected to influence the demand in the near future, it gives figurative estimations of the future state of the market. In order to provide some niche opportunities to the clients, the report also highlights a few regional and global trends of the market. One of the key aspect of the report is the chapter on company profiles, wherein a number of prominent players have been overviewed for their products, technology, geographical presence, market share, and recent developments.
The global multiplex assays market can be segmented on the basis of type, product and services, technology, application, end-user, and region. By product, the market can be divided into instruments, consumables, accessories, software, and services. On the basis of type, the market can be segmented into nucleic acid-based multiplex assays and protein-based multiplex assays. Technological segments of the market can be multiplex polymerase chain reaction, multiplex arrays, and other technologies including SIMOA technology, gold nano-particle technology, hydrogel-particle technology, and antibody arrays. End-users of global multiplex assays can be divided into academic and research institutes, hospitals, clinical laboratories, pharmaceutical and biotechnology companies, and others including blood banks, forensic labs, healthcare laboratories, and nursing homes.
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Global Multiplex Assays Market: Trends and Opportunities
The need for effective analytical platforms in research, in order to reduce overall operational costs, is the primary driver for this market. Other factors such as growing adoption of companion diagnostics, which helps in increasing the efficacy of therapies, and advantages of multiplexing over traditional assays are other factors positive influencing the market. In molecular and protein diagnostics, validation of biomarkers is increasing, which will further add to the demand during the forecast period. Conversely, high cost of multiplex assay instruments is the most prominent restraint over the growth rate.
Currently, the product segment of consumables accounts for the maximum demand, while protein based assays is the type segment of the market that is projected for the best growth rate. Factors such as increased demand for research purpose and need for effective analytical platforms is driving this segment. By technology, the segment of multiplex arrays has the most demand. Pharmaceutical and biotechnology companies are the most profitable end-user segment for the multiplex assays market.
Global Multiplex Assays Market: Regional Outlook
Currently, North America serves the maximum demand for multiplex assays among all regions, dominated by the country-wide market of the U.S. Europe is second most important region, driven by the availability of government funds for research and development of multiplex assays. Asia Pacific is estimated by the report to expand at most prominent growth rate due to the adoption of the new technology and increased investments towards healthcare.
Companies mentioned in the research report
Thermo Fisher Scientific, Inc., Luminex Corporation, Illumina, Inc., QIAGEN N.V., and Bio-Rad Laboratories, Inc. are some of the key players in the global multiplex assays market. These players concentrate on new products and acquisition of promising new ventures in order to maintain their prominent position over the market.