Global Multiplex Assays Market 2019 | Industry Growth Rate, SWOT Analysis, Demand Overview, Technology Development, Forecast to 2023

Global Multiplex Assays Market 2019 | Industry Growth Rate, SWOT Analysis, Demand Overview, Technology Development, Forecast to 2023

“Global Multiplex Assays Market 2019”

Market Scenario

The global multiplex assay market is presumed to demonstrate 7.8% CAGR during the forecast period (2018-2023) owing to the technological advancements, asserts Market Research Future (MRFR). Multiplex assays are generally used to detect multiple analytes in a single run of assay. They are extensively used in genomics in order to quantify DNAs, mRNAs, and proteins to assess the impact of DNA mutation on biomolecules. Scientists, with the help of multiplex assays, can gain more information about a single or series of proteins within a single well or reaction of experiment. Researchers are also utilizing multiplex assays in order to detect cellular regulatory events which occur in chronic diseases like cancer.

Drivers and Constraints Impacting the Market

The global multiplex assay market is considered to expand at a rapid pace owing to the technological advancements. Rapid development of nanotechnology has taken it to the next level of nanoarray, representing the ultra-miniaturization version of the conventional microarray. The development of highly dense nanoarray technology has made the drug screening process time effective and more rapid with the growing awareness of pathological conditions and multifactorial nature of several diseases such as the Alzheimer disease and cancer, the need to produce a time-saving and cost-effective measurement of multiple analysts in a single sample has increased. Such factors are considered to augment the market growth across the globe. Moreover, the formation of provision and policies of subsidy by governments encourage research and development activities in the global multiplex assay market, which creates robust growth in the global multiplex assay market.

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On the flip side, complex clinical trial procedures coupled with reproducibility crisis for multiplex assay products are considered to impede the market growth in the coming years. Multiplex assays must be optimized in order to demonstrate performance and safety before applying to any clinical sample. They cannot be used off-the-shelf for new applications and require initial investment and considerable time,  thereby retarding the market growth.

Global Multiplex Assay Market: Segmental Analysis

The global multiplex assay market has been segmented on the basis of products and services, type, technology, application, end-user, and region.

By mode of products & services, the multiplex assay market has been segmented into instruments and consumables.

By mode of types, the global multiplex assay market has been segmented into nucleic acid assay and protein. Among these, the protein multiplex assay is further sub-segmented into bead-based protein assay and planer protein assay. The nucleic acid multiplex assay is further sub-segmented into bead-based nucleic acid assay, planer nucleic acid assay, and other nucleic acid assay.

By mode of technology, the global multiplex assay market has been segmented into flow cytometry and other technologies.

By mode of application, the global multiplex assay market has been segmented into clinical diagnostics.

By mode of end-user, the global multiplex assay market has been segmented into hospital and research institutes, pharmaceutical and biotechnology companies, clinical laboratories, and others.

Regional Insights

Geographically, the multiplex assay market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World.

Among all the regions, the North American region is estimated to account for the largest market share due to strong research and development activities in this region. Also, due to the presence of leading countries in biopharmaceutical R&D such as the U.S., the market is likely to flourish. The factors influencing the market growth in this region are the increasing prevalence of Alzheimer disease, growing patient population, and rise in R&D activities in pharmaceutical companies in order to treat chronic diseases such as Alzheimer and cancer.

Industry Updates

March 27, 2018: Laboratories are performing tests for poultry producers can which can simultaneously screen samples for Typhimurium, Salmonella species, and Enteritidis by using the first independently validated PCR test of its kind. A market leader in microbiology, culture media, molecular and mass spectrometry systems, Thermo Fisher Scientific, was recently awarded the NF VALIDATION mark by AFNOR Certification for the Thermo Scientific RapidFinder Salmonella Multiplex PCR Workflow.

Competitive Dashboard

The prominent players operating the global multiplex assay market are Merck Sharp & Dohme Corp, Qiagen, Thermo Fisher Scientific Inc, Quanterix, Meso Scale Diagnostics LLC, Bio Rad Laboratories Inc, Agilent Technologies, Bio-Techne, Illumina Inc, BD, Abcam plc, Randox Laboratories Ltd, and Seegene Inc.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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