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Home » Healthcare » Multiplex Assays Market Size, Growth | Forecast 2030

Multiplex Assays Market: By Product and Service (Instruments, Consumables, Software and Services), By Technology (Fluorescence Detection, Luminescence, Flow Cytometry, Multiplex Real-Time PCR, Others), By Geography, Segment revenue estimation, Forecast, 2021-2030

Published On: Mar-2022   |   Base Year: 2021   |   No Of Pages: 135   |   Historical Data: 2017 - 2020   |   Formats: PDF   |   Report ID: 20673916

Report DescriptionTable of Contents

Industry Statistics and Insights

The global multiplex assays market will witness a robust CAGR of 7.53%, valued at $3.36 billion in 2021, expected to appreciate and reach $6.47 billion by 2030, confirms Strategic Market Research. The multiplex assay is one of the most crucial derivatives of an ELISA, using beads to bind the "capture" antibody. The "capture" antibody helps bind and retain the sample analyte.

 

multiplex assays market by share 2020-2030

Key Industry Drivers - Rising numbers of NCDs and Infectious Diseases and the Increase in the Use of Multiplex Assays in Companion Diagnostics

  • The continuous rising prevalence of chronic (non-communicable) and infectious diseases across the globe is one of the major factors that augment the overall market growth throughout the estimated time frame. According to the World Health Organization, chronic/ non-communicable diseases (NCD) kill 41 Mn people each year, which is equivalent to 71% of all the deaths occurring globally. Each year, more than 15 million people between the ages of (30 to 69) die due to an NCD. Approximately 85% of these "premature" deaths occur in middle and low-income countries. CVDs (cardiovascular diseases) are the most common type of NCD, which leads to the highest number of deaths worldwide (i.e., 17.9 Mn people annually), followed by cancers (9.3 Mn), respiratory diseases (4.1 Mn), and diabetes (1.5 Mn). Also, as per the National Institutes of Health, 5 types of infectious diseases are ranked among the top ten killer diseases worldwide, namely lower respiratory infections diseases (3.4 Mn deaths), HIV/AIDS (2.6 Mn deaths), diarrheal diseases (1.8 Mn deaths), tuberculosis (1.6 Mn deaths), and malaria (1.1 Mn deaths).

 

  • Apart from the increase of chronic and infectious diseases, the rising awareness of disease diagnosis and the rising prevalence of multiplex assays in companion diagnostics, the requirement for effective analytical platforms in R&D is propelling the overall market growth significantly.

 

  • Further, the rise in usage of several advanced technologies and processes like multiplex bead array assays, map assay, Invitrogen Luminex, cytokine immunoassay, multiplex Merck, RNA scope v2, magpix assay, msd cytokine multiplex, magpix cytokine assay, rnascope multiplex fluorescent v2 assay, multiplex assays, xmap luminex, multiplex assays ELISA, etc. are fuelling the growth of the market worldwide.

 

Restraints - Expensive Equipment & Stringent Regulations

  • The higher equipment costs are one of the major factors restraining the overall multiplex assays market growth, as it constantly challenges the manufacturers and researchers to perform multiplex assay testing at an affordable cost. 

  • Also, the standards for Quality control (Q.C.) of the multiplex assays are more stringent than the single-plex assays, thereby obstructing the overall market growth.

 

Opportunities - The Increase in the Need for Automated Systems and the Rising Prevalence of the Biomarkers in Protein and Molecular Diagnostics in the Asia-Pacific Region

  • Multiple biomarker analysis has a major application in the area of autoimmune diseases, cancer, and neurodegenerative diseases. With the discovery of many biomarkers, there is a higher probability of developing new diagnostic tests in the Asia-Pacific region, which is expected to create ample growth opportunities in the future. 

  • Also, the latest development in the Technology of an automated multiplex assay instrument is expected to boost the overall market growth, which will help the market grow exponentially in the future.

 

multiplex assays market by application 2020-2030

Market Analysis Of Different Segments Covered in the Report

Based on Product and Service

  • Instruments

  • Consumables

  • Software and Services

 

Based on Type

  • Nucleic Acid Multiplex Assays

    • Planar Nucleic Acid Assays

    • Bead-Based Nucleic Acid Assays

    • Others

  • Protein Multiplex Assays

    • Planar Protein Assays

    • Bead-Based Protein Assays

    • Others

  • Cell-Based Multiplex Assays

 

Based on Technology

  • Fluorescence Detection

  • Luminescence

  • Flow Cytometry

  • Multiplex Real-Time PCR

  • Others

 

Based on Applications

  • Research & Development

    • Biomarker Discovery & Validation

    • Drug Discovery & Development

  • Clinical Diagnostics

    • Cancer

    • Cardiovascular Diseases

    • Infectious Diseases

    • Autoimmune Diseases

    • Metabolism & Endocrinology Disorders

    • Nervous System Disorders

    • Others

 

Based on End-User

  • Hospitals & Research Institutes

  • Pharmaceutical & Biotechnology Companies

  • Reference Laboratories

  • Others

 

Regional Coverage Analysis

North America

  • United States

  • Mexico

  • Canada

  • Rest of North America

 

Europe

  • Switzerland

  • Russia

  • France

  • Germany

  • U.K

  • Finland

  • Turkey

  • Netherlands 

  • Belgium

  • Spain

  • Italy

  • Rest of Europe

 

Asia Pacific

  • China

  • India

  • Indonesia

  • South Korea

  • Thailand

  • Japan

  • Singapore

  • Malaysia

  • Philippines

  • Australia

  • New Zealand

  • Rest of APAC

 

LAMEA

  • Brazil

  • Saudi Arabia

  • Uruguay

  • Argentina

  • Rest of LAMEA

 

multiplex assays market by end user 2020-2030

Based on Product & Service, the 'Consumables' segment held the highest share of almost 44.27% of the entire multiplex assays market in 2020. It also held the fastest growth rate with a decent CAGR throughout the forecasted period. The vital factors like the higher usage of reagents for facilitating research applications on consumables and the increase in the number of recurring purchases of assays worldwide are fuelling this segment's overall growth.

 

Based on Type, the 'Protein Multiplex Assays' segment dominated the overall market with a steady CAGR during the estimated period owing to the sheer focus on proteomics studies for clinical diagnostics and biomarker research. According to IBISWorld, in 2021, there will be about 28,393 Diagnostic & Medical Laboratory businesses in the United States, with an increase of nearly 1.5 percent from 2020.

 

Based on Technology, the 'Flow Cytometry segment held the largest share (approximately 37.28%) of the entire market in 2020, with a decent CAGR of 8.27%. The largest share of this segment can primarily be attributed to the wide range of flow cytometry applications in the measurement and detection of RNA, protein expression, and cell viability & toxicity, along with the identification and characterization of various cell types.

 

Based on Applications, the 'Research & Development segment dominated the market in 2020 due to the increase of funds by the worldwide governments for the broad applications of multiplex assay technologies in R&D functions. The R&D outsourcing services market is accelerating at a CAGR of 7.93%, which in turn is propelling the overall growth of this segment.

 

Based on End Users, the 'Pharmaceutical & Biotechnology Companies' segment accounted for the highest market share in 2020. Factors such as the rising focus of biotechnological companies on developing monoclonal and biosimilars antibodies and the increase in the number of adoptions of multiplex assays in the field of drug discovery by pharmaceuticals are significantly driving the overall growth of this segment.

 

Based on Regions, North America held the largest regional market share with a CAGR of 8.93% in 2020, followed by Europe. The highest share of the North American region can primarily be attributed to the presence of leading pharmaceutical and biotechnology companies, established pharmaceutical industries, and increased R&D expenditures by the government. Multiplex assays market is significantly higher in the United States than in any other country. In addition, the government spending on the clinical services laboratory has increased by approximately 5.23% between 2010 to 2020, which has highly boosted the market in the United States.

 

Global Multiplex Assays Market Competitive Landscape Analysis

The competitive landscape analysis provides information about the crucial competitors prevailing in the worldwide market environment. The comparison is performed based on overall revenue generation, market initiatives, company overview, investment in R&D, company financials, company strengths and weaknesses, global presence, production capacity, production sites and facilities, market potential, etc.

  • Luminex Corporation

  • Illumina Inc

  • Bio-Rad Laboratories, Inc.

  • Qiagen N.V.

  • Thermo Fisher Scientific Inc

  • Abcam plc

  • Merck KGaA

  • Agilent Technologies, Inc.

  • Becton, Dickinson, and Company

  • Meso Scale Diagnostics

  • Randox Laboratories

  • Quanterix

  • Bio-Techne Corporation

  • Olink

  • DiaSorin S.p.A.

  • Seegene

  • Promega Corporation

  • Siemens Healthineers

  • PerkinElmer Inc.

  • Shimadzu Biotech

  • Antigenix America, Inc.

  • Enzo Life Sciences, Inc.

  • Boster Biological Technology

  • AYOXXA Biosystems GmbH

  • Cayman Chemical Company

 

Multiplex Assays Market Report Coverage

Report Attribute

Details

Forecast Period

2021 - 2030

The market size value in 2021

USD 3.36 billion

The revenue forecast in 2030

USD 6.47 billion

Growth rate

CAGR of approximately 7.53%

The base year for estimation

2021

Historical data

2017 – 2020

Unit

USD Billion, CAGR (2021 - 2030)

Segmentation

Based on Product & Service, Type, Technology, Applications, End-User, and Regions.

Based on Product & Service

Instruments, Consumables, Software and Services

Based on Type

Nucleic Acid Multiplex Assays (Planar Nucleic Acid Assays, Bead-Based Nucleic Acid Assays, Others), Protein Multiplex Assays (Planar Protein Assays, Bead-Based Protein Assays, Others), Cell-Based Multiplex Assays

Based on Technology

Fluorescence Detection, Luminescence, Flow Cytometry, Multiplex Real-Time PCR, Others

Based on Applications

Research & Development (Biomarker Discovery & Validation, Drug Discovery & Development), Clinical Diagnostics (Cancer, Cardiovascular Diseases, Infectious Diseases, Autoimmune Diseases, Metabolism & Endocrinology Disorders, Nervous System Disorders, Others)

Based on End-User

Hospitals & Research Institutes, Pharmaceutical & Biotechnology Companies, Reference Laboratories, Others

Based on Regions

North America, Europe, Asia Pacific, LAMEA

Country Scope

United States of America, Mexico, United Arab Emirates, United Kingdom, Germany, France, Canada, China, India, Japan, South Korea, Brazil, Argentina, Saudi Arabia, South Africa

Company Usability Profiles

Luminex Corporation, Illumina Inc, Bio-Rad Laboratories, Inc, Qiagen N.V, Thermo Fisher Scientific Inc, Abcam plc, Merck KGaA, Agilent Technologies, Inc, Becton, Dickinson, and Company, Meso Scale Diagnostics, Randox Laboratories, Quanterix, Bio-Techne Corporation, Olink, DiaSorin S.p.A., Seegene, Promega Corporation, Siemens Healthineers, PerkinElmer Inc., Shimadzu Biotech, Antigenix America, Inc., Enzo Life Sciences, Inc., Boster Biological Technology, AYOXXA Biosystems GmbH, Cayman Chemical Company

 

multiplex assays market by region 2020-2030

Recent Developments

  • On August 25th, 2021, Becton, Dickinson, and Company launched its new automated high-throughput diagnostic BD COR System. The system uses sample management software algorithms and robotics technology to set up a new standard in molecular testing automation for infectious diseases in core laboratories in the United States.

  • On April 20th, 2021, Illumina successfully acquired GRAIL; a world-renowned healthcare company focused on providing early life-saving detection of multiple types of cancers. However, Illumina will hold GRAIL as a separate company during the European Commission's ongoing regulatory review.

  • On February 26th, 2021, Thermo Fisher Scientific succeeded in acquiring Mesa Biotech, a privately held POC (point-of-care) molecular diagnostic company. By combining Thermo Fisher's excellence in operations, existing sales and distribution channels with Mesa's innovative platform, and direct access to the raw materials, rapid scaling of manufacturing volume can be performed easily.

 

The List of Key Products that Global Market Leaders Develop

PRODUCT NAME

FUNCTION

COMPANY

Invitrogen Instant ELISA kits

The instant ELISA Kits have ready-to-use plates that contain all the necessary assay components like lyophilized detection antibody, capture antibody, sample diluent, and streptavidin-HRP. These plates help in the reduction of pipetting time and also enable a simple one-wash type of protocol.

Thermo Fisher Scientific Inc

Human IL-6 ELISA Kit II

It is designed in such a brilliant way that it can successfully measure the total amount of targeted bound between a matched pair of antibodies.

Becton, Dickinson, and Company

 

SIMOA

Acts as an accelerator or catalyst in the Laboratory for Protein biomarker testing processes.

Quanterix

ADVIA Centaur XPT Immunoassay System

It is one of the highest-throughput systems that can ever be available. It delivers the perfect results that the clinicians depend upon for better patient care and accurate diagnoses.

Siemens Healthineers

 

 

Frequently Asked Question About This Report

b: The global multiplex assays market size was $3.36 billion in 2021 and is predicted to reach $6.47 billion by 2030, with a CAGR of 7.53%.

b: Based on Product and Service, the Consumables segment held the highest share of almost 44.27% of the entire market in 2020.

b: Based on End User, the Pharmaceutical & Biotechnology Companies segment accounted for the highest market share in 2020.

b: The global multiplex assays market is expected to grow at a compound annual growth rate (CAGR) of 7.53% from 2021 to 2030 to reach USD 6.47 billion by 2030.

b: The most vital players of the market are Luminex Corporation, Illumina Inc, Bio-Rad Laboratories, Inc, Qiagen N.V., Thermo Fisher Scientific Inc, Abcam plc, Merck KGaA, Agilent Technologies, Inc, Becton, Dickinson and Company, Meso Scale Diagnostics, Randox Laboratories, Quanterix, Bio-Techne Corporation, Olink, DiaSorin S.p.A., Seegene, Promega Corporation, Siemens Healthineers, PerkinElmer Inc, Shimadzu Biotech, Antigenix America, Inc, Enzo Life Sciences, Inc, Boster Biological Technology, AYOXXA Biosystems GmbH, and Cayman Chemical Company.

 

Sources

https://www.who.int/news-room/fact-sheets/detail/noncommunicable-diseases

https://news.bd.com/2021-08-25-BD-Launches-Fully-Automated-High-Throughput-Molecular-Diagnostic-Platform-for-U-S-Laboratories