Global Multiplex Assays Market
Healthcare Services

How Will The Multiplex Assays Market Globally Expand In 2023?

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s multiplex assays market report forecasts the multiplex assays market size to grow to $4.9 Billion by 2027, with a CAGR (compound annual growth rate) of more than 8%.

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Multiplex Assays Market Size Forecast
The global multiplex assays market is expected to grow from $3.27 billion in 2022 to $3.55 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The multiplex assays market size is expected to grow to $4.9 billion in 2027 at a CAGR of 8.4%.

North America held the largest multiplex assays market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Multiplex Assays Market Driver ­– Increase In The Incidence Of Chronic Diseases
According to the World Health Organization (WHO) report published in April 2021, chronic diseases, also known as non-communicable diseases (NCDs), kill 41 million people each year, equivalent to 71% of all deaths globally. Every year, between the ages of 30 and 69 years, more than 15 million people die from an NCD. Due to the growing acceptance and the advantages of multiplex assays over traditional assays, such as quicker analysis, the market for multiplex assays is expected to develop rapidly, driving the growth in the forecast period.

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Key Multiplex Assays Market Trend – Strategic Partnerships And Collaborations
Strategic partnerships and collaborations between companies in the industry are a trend gaining popularity in the multiplex assay market. Companies in the market are collaborating on developing assays that can detect diseases quickly and effectively. For instance, in 2020, China-based biotechnology company, Sino Biological, announced a co-development agreement with a US-based biotechnology company, Nanommune, to jointly develop COVID-19 antigen array products for serological studies of COVID-19 and other infectious diseases. The COVID-19 multiplex serological assay collaboration allows Sino Biological to make its recombinant COVID-19 antigens available on a microarray multiplex-based platform, which enables rapid profiling of antibodies interacting with these targets in biological samples.

Multiplex Assays Market Segment
1) By Type: Nucleic Acid-Based Multiplex Assays, Protein-Based Multiplex Assays, Other Types
2) By Technology: Flow Cytometry, Luminescence, Fluorescence Detection, Multiplex Real-Time PCR, Other Technologies
3) By Application: Research And Development, Drug Discovery And Development, Biomarker Discovery And Validation, Clinical Diagnostic
4) By End User: Pharmaceutical And Biotechnology Companies, Hospitals And Research Institutes, Reference Laboratories, Other End Users

Multiplex Assays Market Major Players and Strategies
Major players in the multiplex assays market are Thermo Fisher Scientific, Inc., Luminex Corporation, Illumina, Inc., Bio-Rad Laboratories, Inc., QIAGEN N.V, Becton, Dickinson and Company, Bühlmann Laboratories, Seegene Inc., Meso Scale Diagnostics LLC., Randox Laboratories Ltd., Merck KGaA, Agilent Technologies, Inc., Quanterix, Bio-Techne Corporation, Promega Corporation, Hoffmann-La Roche, Siemens Healthineers, PerkinElmer, Inc., Danaher Corporation and Abbott Laboratories.

In May 2021, Swiss healthcare company Roche acquired GenMark for a deal amount of $1.8 billion. Through this acquisition, Roche’s expands its portfolio of molecular diagnostics in syndromic testing. GenMark Diagnostics is a US-based multiplex molecular diagnostic solutions provider, designed to enhance patient care, improve key quality metrics, and reduce the total cost of care.

The Multiplex Assays Global Market Report 2023 covers regional data on multiplex assays market size, multiplex assays market trends and drivers, opportunities, strategies, and multiplex assays market competitor analysis. The countries covered in the multiplex assays market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Multiplex assays are used to amplify multiple targets in a polymerase chain response (PCR) trial and collect further information from nanosecond amounts of proteins or other analytes in lower time as compared to the conventional system, similar to ELISA. Multiplex assays are used for pathogen identification, mutation analysis, RNA discovery, gene discovery analysis, relation analysis, forensic studies, and others.

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