Global Multiplex Assay Market Anticipated to Surpass $4,162.5 Million, at 5.8% CAGR from 2021 to 2028 - Exclusive Report [288 Pages] By Research Dive

Significant rise in the cases of chronic ailments is fueling the global multiplex assay market growth. The COVID-19 pandemic has positively impacted the market. The Asia-Pacific market is projected to lead the market.

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Aug 25, 2021, 08:00 ET

NEW YORK, Aug. 25, 2021 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Global Multiplex Assay by Type (Nucleic Acid and Protein), Product (Instruments, Consumable and Software), Application (Research and Diagnosis), End User (Diagnostic Laboratories & Clinic, Hospitals, Pharmaceutical & Biotechnological Companies, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021-2028".

The Global Multiplex Assay Market is expected to garner $4,162.5 million by 2028, at a CAGR of 5.8% from 2021 to 2028. The report offers all-inclusive insights into the present condition and future scope of the industry by keenly scrutinizing market drivers and restraints, opportunities, major segments, and regions.

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Key Segment Findings of the Market:

The market is segmented on the basis of type, product, application, end user, and region.

Among the type segment, the protein sub-segment is anticipated to hold highest share of the market by garnering $2,713.30 million during the forecast period. This growth is mainly owing to the growing research activities to analyze unknown proteins and anticipate their function.
Among the product segment, the consumable sub-segment is projected to grab leading share of the market by garnering $3,040.20 million during the forecast period. This growth is mainly owing to the growing requirement for reagents and kits as well as large scale purchases of consumable multiplex assays by laboratories and hospitals.
Among the application segment, the research sub-segment is expected to lead the market by surpassing a revenue of $2,871.80 million during the forecast period. This growth is mainly owing to the rising researches for diagnosing chronic and unidentified ailments that are existing at an remarkably high rate across the world.
Among the end user segment, the pharmaceutical & biotechnological sub-segment is projected to dominate the market by garnering a revenue of $2,043.80 million during the estimated period. This growth is mainly owing to the continuous efforts by the market players to develop innovative and competent multiplex assay techniques.
Among region, the Asia-Pacific region market is estimated to observe speedy growth with a CAGR of 7.20% in the projected period. This growth is mostly because of the increasing occurrence of chronic ailments in nations, such as India and China, and continuously developing healthcare infrastructure and services in this region.

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Market Dynamics

The key factor fueling the growth of the global multiplex assay market is the significant rise in the cases of chronic ailments mainly in elderly population. In addition, increasing R&D activities in the pharmaceutical and biotechnological sector is estimated to open doors to innovative opportunities for the market growth in the projected period. However, high procedural cost of multiplex assays is projected to hinder the market growth during the forecast period.

Impact of the COVID-19 Pandemic on the Multiplex Assay Market:

The COVID-19 pandemic has made a positive impact on the growth of the global multiplex assay market in 2020. In the pandemic period, the multiple assay technique has played a vital role in aiding several researchers to study about the interaction of the COVID-19 virus with biomolecules present in the patient's body. These factors are propelling the market growth in the crisis period.

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Top 10 Players of the Global Multiplex Assay Industry

The major players of the global multiplex assay industry are –

1. Becton

2. Dickinson and Company

3. Thermo Fisher Scientific

4. Quansys Biosciences Inc.

5. Luminex Corporation

6. Bio-Rad Laboratories Inc.

7. Abbott Laboratories

8. Quest Diagnostics

9. Agilent Technologies

10. Seegene Inc.

11. Abcam PLC

Numerous business strategies, such as acquisitions, mergers, R&D activities, new product developments, and much more, are implemented by these players to attain a strong position in the global market. For example, in June 2021, Eurofins Technologies, the world leader in food, environment, and biopharmaceutical products' testing, launched GSD NovaType III SARS-CoV-2 RT-PCR assay, established for the rapid detection of SARS-CoV-2 variants of concern including B.1.617 ("India"), B.1.427/B.1.429 ("California/USA"), B.1.351 ("South Africa") or P.1 ("Brazil").

Moreover, the report offers other key details of leading players such as business tactics, financial performance, and product/service range of these players along with Porter's five forces analysis and SWOT analysis. Enquire and Get Quick Access to Top Companies Development Strategies Summary Report

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