Key Trends and Insights into the Multiplex PCR Assays Market: Growth Rate and Opportunities to 2034
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How has the multiplex pcr assays market grown over the years?
The market size for multiplex pcr assays has seen swift expansion in the last few years. The market is predicted to boom from $1.51 billion in 2024 to $1.72 billion by 2025, demonstrating a compound annual growth rate (CAGR) of 13.6%. The escalation observed in the historic period is believed to be driven by the escalating occurrence of infectious diseases, growth in government financing and backing, an upswing in the introduction of clinical diagnostics, a surge in genetic testing and personalized medicine, an increased usage in academic and research organizations, breakthroughs in bioinformatics and data scrutiny instruments, along with rising healthcare expenses.
What Is the forecasted market size and growth rate for the multiplex pcr assays market?
In the upcoming years, the market for multiplex pcr assays is projected to experience robust expansion and is estimated to amplify to $2.83 billion in 2029 with a CAGR of 13.4%. The growth during this time frame can be ascribed to the broadening of application areas, surging demand for point-of-care diagnostics, escalation in personalized medicine, augmentation in research and development spending, heightened health consciousness and preventive healthcare, a heightened emphasis on precision medicine, and increasingly high demand for rapid and dependable diagnostic tests. The forecast period will also see significant trends like integration of next-generation sequencing (NGS), companion diagnostics, digital PCR technology, automation and high-throughput systems, point-of-care and portable devices, customization and multiplexing abilities, artificial intelligence and machine learning, improved data management, and cloud solutions.
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What are the major factors driving growth in the multiplex pcr assays market?
The continual need for diagnostic testing is projected to drive the expansion of the multiplex PCR assay market. Diagnostic tests or procedures utilized to confirm the presence or absence of a disease in a patient underpins this growing demand. The surge is motivated by the increasing prevalence of chronic illnesses such as cancer and diabetes, which necessitate early and precise diagnosis for effective management. Additionally, the emphasis on preventive healthcare supports routine testing to detect potential problems early. Multiplex PCR assays offer simultaneous detection and analysis of multiple pathogens or genetic markers in a single sample, augmenting the effectiveness and comprehensiveness of diagnostic testing. For instance, as reported by the National Health Service (NHS), a UK-based hospital and healthcare provider, in July 2024, diagnostic activity surpassed pre-pandemic levels in 2023, demonstrated by a 21% rise in test operations in May 2024 compared to the prior year. Furthermore, in May 2024, 2.4 million diagnostic tests were undertaken. Thus, the growing demand for diagnostic testing will fuel the expansion of the multiplex PCR assay market.
What key areas define the segmentation of the global multiplex pcr assays Market?
The multiplex pcr assays market covered in this report is segmented –
1) By Assay Type: Planar Assay, Bead Based Assay
2) By Product And Services: Consumables, Instruments, Software And Services
3) By Application: Disease Diagnosis, Research And Development, Other Applications
4) By End User: Biopharmaceutical Companies, Clinical Research Organizations, Academic Research Institutes, Diagnostic Centers, Other End Users
Subsegments:
1) By Planar Assay: Microarray-Based Assays, Dna Chip-Based Assays
2) By Bead Based Assay: Luminex Xmap Assays, Magpix Assays, Flow Cytometry-Based Bead Assays
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What are the top market players propelling the growth of the multiplex pcr assays industry?
Major companies operating in the multiplex PCR assays market are F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc, Abbott Laboratories, Danaher Corporation, Merck KGaA, Siemens Healthineers, Becton Dickinson and Company, Agilent Technologies Inc, PerkinElmer Inc, Illumina Inc, Sysmex Corporation, Bio-Rad Laboratories Inc, QIAGEN NV, Tecan Group Ltd, DiaSorin SpA, Bio-Techne Corporation, Promega Corporation, Randox Laboratories Ltd, BioFire Diagnostics Inc, Seegene Inc, Quanterix Corporation, NanoString Technologies, Standard BioTools Inc, Enzo Biochem Inc, SeraCare Life Sciences Inc, Agena Bioscience, Fluidigm Corporation
What are the key trends shaping the future of the multiplex pcr assays market?
Major players within the multiplex PCR assays market have prioritized the incorporation of automation, which includes the next-generation quantitative PCR (qPCR) systems. These systems facilitate accurate and adaptable nucleic acid quantification, a vital aspect of sophisticated clinical diagnoses and public health programs. They provide superior capabilities to detect multiple targets simultaneously, significantly enhancing diagnostic efficiency and precision. A prime example of this is Roche Diagnostics Corporation, a Swiss diagnostics system solutions producer who, in November 2023, debuted the LightCycler PRO System. This next-generation qPCR system gives users the ability to detect several targets at once, increasing throughput, and precision. Other distinctive features, such as heightened temperature uniformity, advanced software, and compatibility with more than 200 LightMix Modular and 60 CE-IVD assays, further boost diagnostic accuracy and efficiency. This is a clear indication of the integration of automation in the Multiplex PCR Assays market, which subsequently propels advancements in clinical diagnostics and public health.
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What regions are dominating the multiplex pcr assays market growth?
North America was the largest region in the multiplex PCR assays market in 2024. The regions covered in the multiplex PCR assays market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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