The report” Multiplex Assays” Market by Products & Services (Instruments, Consumables, and Software and Services), Type (Nucleic Acid Multiplex Assays, Protein Multiplex Assays, and Cell-Based Multiplex Assays), Technology (Fluorescence Detection, Luminescence, Flow Cytometry, Multiplex Real-Time PCR, and Others), Applications (Research & Development, and Clinical Diagnostics), End-User (Hospitals & Research Institutes, Pharmaceutical & Biotechnology Companies, Reference Laboratories, and others) - Global Forecast to 2030. "The Multiplex Assays Market worldwide is expected to reach USD 6.47 billion by 2030 from USD 3.13 billion in 2020, at a CAGR of 7.53% over the forecasted period. The continuous rising prevalence of infectious and chronic (non-communicable) diseases across the globe, the rising prevalence of multiplex assays in companion diagnostics, the rising awareness of disease diagnosis, and the rise in the requirement for effective analytical platforms in R&D. are some of the pivotal factors driving the growth of this market significantly.
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By Products & Services, the ‘Consumables’ segment dominated the market significantly in 2020
Based on Products & Services, the Multiplex Assays industry worldwide has been broadly fragmented into Instruments, Consumables, and Software and Services. The 'Consumables' segment held the highest share of almost 44.27% of the entire market in 2020. It also held the fastest growth with a steady CAGR throughout the forecasted period. The vital factors like the increase in the number of recurring purchases of assays worldwide, and higher usage of reagents for facilitating research applications on consumables are fuelling the growth of this segment.
By Type, the ‘Protein Multiplex Assays’ segment held the largest market share significantly in 2020
Based on Type, the Multiplex Assays industry worldwide has been broadly fragmented into Nucleic Acid Multiplex Assays, Protein Multiplex Assays, and Cell-Based Multiplex Assays. The ‘Protein Multiplex Assays’ segment dominated the overall market with a steady CAGR throughout the estimated period because of the sheer focus on proteomics studies for clinical diagnostics and biomarker researches. As per IBISWorld, in 2021, there will be around 28,393 Diagnostic & Medical Laboratory businesses in the USA, with an increase of up to 1.5 percent from 2020.
By Technology, the ‘Flow Cytometry’ segment dominated the market significantly in 2020
Based on Technology, the Multiplex Assays industry worldwide has been broadly fragmented into Fluorescence Detection, Luminescence, Flow Cytometry, Multiplex Real-Time PCR, and Others The ' Flow Cytometry ' segment held the largest share (about 37.28%) of the entire market in 2020 with a steady CAGR of 8.27%. The factors such as the wide range of flow cytometry applications in the detection and measurement of RNA, protein expression, cell viability & toxicity, including the identification and characterization of various cell types are fuelling the overall market growth.
By Applications, the ‘Research & Development’ segment dominated the market significantly in 2020
Based on Applications, the Multiplex Assays industry has been segmented into Research & Development, and Clinical Diagnostics. The 'Research & Development' segment dominated the market in 2020 due to the raise of funds by governments worldwide on the broad applications of multiplex assay technologies in R&D functions. The R&D outsourcing services market is progressing at a CAGR of 7.93%, which in turn is propelling the overall growth of this segment.
By End-User, the ‘Pharmaceutical & Biotechnology Companies’ segment held the largest market share in 2020
Based on End-User, the Multiplex Assays industry worldwide has been bifurcated into Hospitals & Research Institutes, Pharmaceutical & Biotechnology Companies, Reference Laboratories, and Others. The 'Pharmaceutical & Biotechnology Companies' accounted for the highest market share in 2020. Factors such as the increase in the number of adoptions of multiplex assays in the field of drug discovery by pharmaceuticals, and the rising focus of biotechnological companies on developing monoclonal and biosimilars antibodies are significantly driving the overall growth of this segment.
North America held the most regional share of the market with a CAGR of 8.93% in 2020, followed by Europe. The highest share of the North American region is due to the presence of leading pharmaceutical and biotechnology companies, increased R&D expenditures by the government, and the presence of established pharmaceutical industries. In the USA, the Multiplex Assays Market is significantly higher than any other country around the world. In addition, the government expenditure for the clinical services laboratory has increased by up to 5.23% between 2010 to 2020, which has highly augmented the Multiplex Assays Market in the United States.
The major vendors in the Global Multiplex Assays Market include 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, Randox Laboratories, Quanterix, Bio-Techne Corporation, Olink, DiaSorin S.p.A., Seegene, Promega Corporation, Meso Scale Diagnostics, Siemens Healthineers, PerkinElmer Inc, Antigenix America, Inc, Enzo Life Sciences, Inc, Shimadzu Biotech, Boster Biological Technology, AYOXXA Biosystems GmbH, and Cayman Chemical Company.
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