Global Multiplex Assays Market Estimated to Reach US $5.57 Billion By 2030

Overview

Multiplex assays are a kind of immunoassay competent for the coinciding measurement of multiple analytes. Multiplex assays are procured from ELISA format rather than a solitary signal measurement; they produce multiple signal quantifications. In multiplex microsphere assays, microsphere in varied colors is coated with various antibodies. Succeeding incubation, the outcomes are read using flow cytometry which demarcates the different colored beads by their diverse levels of fluorescence.

As multiplex assay techniques are exceedingly sensitive yet highly adaptable, they can easily be accommodated in clinical applications like immunology, cancer diagnosis, and immune-oncology. They are instrumental in biomarker discovery. A panel of analytes is calculated together as a barometer for a specific disease, an answer to a medical cure, or arranging treatments at the patient level.

According to the research report, the global multiplex assays market size & share was valued at USD 3.03 billion in 2021 and is expected to reach USD 5.57 Billion By 2030, growing at a CAGR of 7.2% during the forecast period.

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Drivers

Companion diagnostics to drive the growth for multiplex assays

The multiplex assays are astronomically used in companion diagnostics and drug development. The extremity of multiplex assets over singleplex assays, which include lessened reaction tie, reagents, and analyte concentration, assists in delivering the assay results speedily and dealing with rare samples. The surmounting pervasiveness of chronic and infectious diseases provides a more suitable time for the market by generating more demand for multiplex assays.

Recent developments

In August 2021, Becton, Dickinson, and Company initiated its new and fully automated, high production diagnostic system, the BDCOR system. The system utilizes robotics and algorithms of sample management software to establish a novel standard in automation for molecular testing of infectious diseases in central and core laboratories in the US.

In April 2021, Illumina seized Grail, a healthcare company concentrating on recapturing early awareness of multiple cancers. But Illumina will hold GRAIL as a different company during the European Commission’s continuing official review.

Top Key Players in the Global Market

Some of the major players operating in the global market include Luminex Corporation, Enzo Life Sciences, Inc., Promega Corporation, Meso Scale Diagnostics, Quanterix, Thermo Fisher Scientific Inc., Qiagen N.V., Illumina, Inc, Shimadzu Biotech, Abcam plc, Bio-Rad Laboratories, Inc., Becton, AYOXXA Biosystems GmbH, Bio-Techne Corporation, Dickinson and Company, Randox Laboratories, Merck KGaA, Agilent Technologies, Inc., Olink, DiaSorin S.p.A., Antigenix America, Inc., Siemens Healthineers, PerkinElmer, Inc., Boster Biological Technology, Seegene, and Cayman Chemical Company among others.

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Regional analysis

North America to arrive with ease in the multiplex assays market

Regionally, North America dominated the multiplex assay market in 2020 due to an increase in funds by the government for the discernment of new biomarkers, growth in R&D activities of new drugs & diagnoses and options for treatment, as well as a burst in the prevalence of long term diseases like strokes and cancer in the region.

Key segmentation

By type analysis

protein-based multiplex assays account for the largest share of the multiplex assays market

Depending on the type, protein-based multiplex assays accounted for the largest share due to the growing concentration on proteomics studies for biomarker research and clinical diagnostics.

By technology analysis

Flow cytometry to gain a robust foothold in the multiplex assays market

Dependent on the technology, flow cytometry is anticipated to account for the largest share owing to wild administration of the flow cytometry in the detection and calculation of protein expression, RNA, and cell health status across the description and recognition of several cells types.

By application analysis

Research and development companies to have a steady growth in the multiplex assays market

Dependent on the application, the research and development segment is anticipated to account for the most significant share due to the broad application of multiplex assays technologies in research and development functions.

By end-use analysis

Pharmaceutical and biotechnology companies to drive demand for multiplex assays market

Pharmaceutical and biotechnology companies account for the largest share due to the growing adoption of multiplex assays in drug discovery and development by pharmaceuticals and the increasing concentration of biotechnology companies on advancing biosimilar and monoclonal antibodies.

Covid-19 impact

The covid-19 pandemic has positively influenced the multiplex assays market. The growing demand for multiplex SARS-CoV-2 assays is like the multiplex point of care assays. The multiplex assays makers have initiated several assays to diagnose the SARS-CoV-2. Many companies acquired the FDA emergency utilization clearance for their covid-19 multiplex assays to encounter the rising demand for the high volume of testing.

Multiplex Assays Market: By type

• Protein Multiplex Assays
• Planar Protein Assays
• Bead-Based Protein Assays
• Other Protein Assays
• Nucleic Acid Multiplex Assays
• Planar Nucleic Acid Assays
• Bead-Based Nucleic Acid Assays
• Other Nucleic Acid Assays
• Cell-Based Multiplex Assays

Multiplex assays Market: By technology

• Flow Cytometry
• Fluorescence Detection
• Luminescence
• Multiplex Real-Time PCR
• Others

Multiplex assays market: By application

• Research & Development
• Drug Discovery & Development
• Biomarker Discovery & Validation
• Clinical Diagnostics
• Infectious Diseases
• Cancer
• Cardiovascular Diseases
• Autoimmune Diseases
• Nervous System Disorders
• Metabolism & Endocrinology Disorders
• Others

Multiplex assays market: By end user

• Pharmaceutical & Biotechnology Companies
• Hospitals & Research Institutes
• Reference Laboratories
• Others