Global Singleplex Immunoassay Market to Post 8.4% CAGR Between 2018 and 2023
Global singleplex immunoassay market to find lucrative growth opportunities in the forthcoming years. Market Research Future (MRFR) reports that the market will expand at a CAGR of 8.4% between 2018 and 2023. Singleplex immunoassays have become common medical products in recent years. Western blotting or Enzyme-Linked Immunosorbent Assays (ELISA) has become a popular singleplex immunoassays as they are increasingly utilized to analysing extracellular proteins and multiple intracellular. Their use has also increased owing to advantages such as fast and high-through output in procedures such as gene expression quantification.
Increased focus on application-specific signleplex immunoassay is also expected to favour the market during the forecast period. For example, Thermo Fisher Scientific’s developed a unique singleplex assay “QuantiGene Singleplex assay” to identify DNA or RNA volume using signal amplification.
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The global singleplex immunoassay market is also gathering momentum due to the rapid expansion of the biotechnology and pharmaceutical sector. Moreover, growing popularity of immunoassay in oncology and fast adoption of rental immunoassay analyzers are other important factors creating market opportunities. It is anticipated that prevalence of chronic disorders will rise further in the near future, which will influence singleplex immunoassay demand.
The market is also being propelled by forces such as emphasis towards diagnostic testing, rising awareness regarding immunoassay and in government support. However, highly complex FDA norms and arrival of alternatives to some extent may hamper the market growth during the assessment period.
MRFR’s report includes a thorough segmental analysis of the global singleplex immunoassay market based on technology, product and service, end-user, application and type.
By technology, the market has been segmented into fluorescence detection, flow cytometry and others. By product and services, the market has been segmented into instruments, consumables and others. By end-user, the market has been segmented into reference laboratories, hospitals & research institutes, pharmaceutical & biotechnology companies and others. By application, the market has been segmented into clinical diagnostics, research and development (R&D) and others. The R&D segment covers biomarker discovery and validation and drug discovery & development. The clinical diagnostics segment covers cancer, autoimmune diseases, metabolism & endocrinology disorders, infectious diseases, nervous system disorders and cardiovascular diseases. By type, the market has been segmented into cell-based assays, nucleic acid-based assays, protein-based assays and others.
Global Singleplex Immunoassay Market: Regional Segmentation
Key regions discussed in the report include Europe, Americas, the Middle East & Africa (MEA), and Asia Pacific. In terms of revenue, Americas make a significant contribution to the global singleplex immunoassay market. The region is home to various globally leading market participants has a positive impact on the Americas market. In addition, growing incidences of infectious diseases and high healthcare spending in countries such as the U.S. and Canada are among the key factors supporting the market growth during the forecast period.
Europe is also viewed as a key market for singleplex immunoassay. Factors such rising prevalence of chronic disorders within the region, advances in immunoassay, and strong R&D pipeline provide an impetus to the region’s market.
Though APAC is behind Americas and Europe when it comes to market share, the market in the region is expected to witness the fastest growth during the forecast period. Expanding patient pool, improving healthcare service standards and increased investment in R&D programs are some of factors expected to drive the growth of APAC singleplex immunoassay market during the forecast period.
The global singleplex immunoassay market is highly competitive and characterized by a large number of companies, which include Thermo Fisher Scientific, Bio-Rad Laboratories, Abcam, Merck Life sciences, Quanterix, Seegene, Luminex, QIAGEN N.V., Agilent Technologies, Becton Dickinson and Company, Olink, BioVendor, Illumina and Bio-Techne.
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