According to a research report published by Spherical Insights & Consulting, the Global Multiplex Assay Market Size is Expected to Grow from USD 3.75 Billion in 2023 to USD 7.98 Billion by 2033, at a CAGR of 7.84% during the forecast period 2023-2033.

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Multiplex assays are a type of immunoassay that has the ability of concurrent measurement of multiple analytes such as proteins, nucleic acids, and metabolites. Multiplex assays offer benefits over single-analyte assays, including improved data quality, reduced sample consumption, and increased throughput. Multiplex assays are also considered to be variations of the enzyme-linked immunosorbent assay (ELISA). Furthermore, the growing prevalence of infectious and chronic diseases, the enormous advantages of multiplex assays over single plex, and conventional tests such as diagnostic and detection. The growing geriatric population and cataracts, and the increased use of precision medicine to provide patients with tailored medicines are key factors driving the surge in demand for multiple assays. However, the multiplex assay market also faces restraints such as high development and operational costs, complexity in the design of assays, regulatory challenges, and limited reimbursement policies, which can hinder adoption and growth in the market.

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the

Global Multiplex Assay Market Size, Share, and COVID-19 Impact Analysis, By Type (Protein-Based Multiplex Assays, Nucleic Acid-Based Multiplex Assay, and Other Multiplex Assays), By Product (Consumables and Software), By Technology (Flow Cytometry, Fluorescence Detection, Luminescence, Multiplex Real-time PCR, & Other Technologies), By Application (R&D and Clinical Diagnostics), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.

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In 2023, the protein based multiplex assays segment is expected to hold the greatest market share over the forecast period.

On the basis of the type, the global multiplex assay market is divided into protein based multiplex assays, nucleic acid-based multiplex assays, and other multiplex assays. Among these, the protein based multiplex assays segment is expected to hold the greatest market share over the forecast period. This is because they detect multiple proteins in one assay, offering high sensitivity and accuracy. They find a wide application in diagnostics, biomarker discovery, and personalized medicine; such drivers promote the use of these assays.

In 2023, the consumables segment is expected to hold the greatest market share during the forecast period.

On the basis of the product, the global multiplex assay market is categorized into different categories such as consumables and software. Among these, the consumables segment is expected to hold the greatest market share during the forecast period. A substantial rise in attention to research and development by prominent market participants will lead to in recurrent purchases for consumables, contributing to revenue growth. During the projection period, the reagents and kits sub-segment is expected to generate an important proportion of the consumables sector’s income.

In 2023, the flow cytometry segment is expected to hold the greatest market share during the forecast period.

On the basis of the technology, the global multiplex assay market is divided into flow cytometry, fluorescence detection, luminescence, multiplex real-time PCR, & other technologies. Among these, the flow cytometry segment is expected to hold the greatest market share during the forecast period. This is attributed to the increased awareness of blood glucose self-monitoring and the growing prevalence of diabetes. The increasing prevalence of impaired blood glucose in both type 1 and type 2 patients and increasing cases of diabetes patients led to market growth.

In 2023, the R&D (research and development) segment is expected to hold the largest market share during the forecast period.

Based on the application, the global multiplex assay market is bifurcated into different categories such as R&D (research and development), and clinical diagnostics. Among these, the R&D (research and development) segment is expected to hold the largest market share during the forecast period. This is attributed to the multiplex assays used in drug development specifically used in clinical and preclinical phases to evaluate toxicity, immunotherapy success, and drug response biomarkers. Biomarker research and validation play critical in the modern era for healthcare experts to enhance illness diagnosis and cancer detection at early stages, as well as monitor therapy responses.

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North America is projected to hold the largest share of the market over the forecast period.

North America is projected to hold the largest share of the market over the forecast period. The reginal growth due to the increased government funding for the development of new biomarkers and the growing incidence of chronic illnesses like cancer and stroke are anticipated to drive the region’s expansion. Additionally, it is anticipated that the existence of major corporations in the region will spur growth.

Asia Pacific is expected to grow at a rapid CAGR growth of the market during the forecast period. The growing number of hospitals in developing countries, the growing R&D sector, the high demand for healthcare infrastructure, and the investments made by new businesses in the region. To improve its multiplexing capabilities in China, QuantuMDx partnered with Sansure Biotech and secured a USD 10.9 million investment from Vita Spring in November 2023.

Major vendors in the global multiplex assay market are Luminex Corp., Bio-Rad Laboratories, Inc., Abcam plc., Seegene Inc., Merck KGaA, Assay Genie, Promega Connections, QIAGEN N.V., Thermo Fisher Scientific, Perkin Elmer Inc., Advanced Cell Diagnostics, Inc., R&D Systems, and Inc.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Key Market Development

 

• In April 2024, the first ultrasensitive multiplexed digital PCR assay, the ddPLEX ESR1 Mutation Detection Kit, was introduced by Bio-Rad Laboratories, Inc., a world leader in clinical diagnostic products and life science research. The assay adds to the company’s Droplet Digital PCR (ddPCRTM) product line for the oncology market, where multiplexed mutation detection assays with high sensitivity help with disease monitoring, therapy selection, and translational research.

• In March 2024, The Central Drugs Standard Control Organization (“CDSCO”) in India has given CoSara Diagnostics Pvt. Ltd., its joint venture for manufacturing and sales in India, permission to manufacture and sell its SARAPLEX Influenza Multiplex (IFM) Test Kit to clinical laboratories as an in vitro diagnostic (“IVD”) for the detection and differentiation of Influenza A and Influenza B. This statement was made by Co-Diagnostics, Inc., a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global multiplex assay market based on the below-mentioned segments:

Global Multiplex Assay Market, By Type

 

• Protein Based Multiplex Assays
• Nucleic Acid-Based Multiplex Assay
• Other Multiplex Assays

 

Global Multiplex Assay Market, By Product

 

• Consumables
• Software

 

Global Multiplex Assay Market, By Technology

 

• Flow Cytometry
• Fluorescence Detection
• Luminescence
• Multiplex Real-time PCR
• Other Technologies

 

Global Multiplex Assay Market, By Application

 

• R&D
• Clinical Diagnostics

 

Multiplex Assay Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico

• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

 

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