Transparency Market Research
Multiplex assay is a procedure that identifies various analytes at a time, for example, DNA and proteins. Use of multiplex assays in diagnostics for enhancing the safety and adequacy of treatments and the benefits associated with multiplex assays over traditional single-plex assays are responsible for the development of the market. However, high cost of multiplex assay equipment and its standardization and quality control are creating hindrance in the growth of the market.
Rise in research and development for treating various diseases, wide range of options for performing multiplex tests to minimize costs, technological advancements, and development in applications of customized medication for enhancing the safety and efficacy of treatments are creating new opportunities for companies operating in the multiplex assays market. Multiplex assays provide solution to challenges when the analysis of samples is overloaded due to analysis of multiple assays simultaneously which ultimately saves time and the cost of detection goes lower which is the important factor driving the growth of overall market. However, lack of experienced health care experts and high capital requirement are the major factors hindering the growth of the market.
The global multiplex assays market can be segmented based on type, product, technology, application, end-user, and region. In terms of type, the global multiplex assays market can be divided into nucleic acid-based and protein-based assays. Both nucleic acid-based and protein-based assays can be further divided into planar type, bead type, and others. The protein-based multiplex assays segment constitutes the major share of the multiplex assays market and is projected to grow rapidly during the forecast period.
Based on product, the global multiplex assays market can be segmented into consumables, instruments, and software & services. Among these, the consumables segment is expected to grow at a significant rate owing to the increase in use of consumables for diagnosis of diseases. In terms of technology, the global multiplex assays market can be classified into fluorescence detection, multiplex RT PCR, flow cytometry, luminescence, and others.
The others segment includes technologies, such as, liquid chromatography, mass spectrometry, colorimetric detection, etc. Among these, the flow cytometry technology segment is expected to grow rapidly during the forecast period. Based on application, the global multiplex assays market can be segmented into research and development and clinical diagnostics. By end-user, the market can be categorized into pharmaceutical & biotechnology companies, hospitals & academic research institutes, reference laboratories, and others.
Geographically, the global multiplex assays market can be distributed into five regions, such as, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is estimated to remain the leading market for multiplex assays market due to focus on innovation to bring about advanced technologies in instruments, high rate of diagnosis of cancer and infectious diseases, and presence of prominent pharmaceutical and biotechnology companies in the region. The multiplex assays market in Asia Pacific is projected to expand at a significant rate during the forecast period. Increase in patient population and advancement in health care facilities are fuelling the growth of the market in the region.
Major players operating in the global multiplex assays market include Luminex, Becton, Dickinson and Company, Illumina, Quiagen N.V. and Bio-Rad Laboratories, and Thermo Fisher Scientific.
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