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Multiplex tests can be defined as the kind of immunoassay that utilizes magnetic beads for simultaneously measuring a scope of analytes in a s ingle reaction. While a significant number of immunoassays are singleplex, designed to detect just one specific analyte, multiplexing has become increasingly popular since it saves both time and precious sample material by combining the detection of multiple analytes into a single reaction. Multiplex tests are viewed as derivatives of enzyme linked immunosorbent assay (ELISA). Be that as it may, these are favored over singleplex ELISA, inferable from their focal points, for example, high throughput, greater output per sample volume, and increased efficiency.
The Multiplex Assays Market is mainly driven by the five major factors including advantages offered by multiplex assays over single plex assays, rising prevalence of infectious diseases and cancer that can be detected easily at earlier stages, the use of multiplex assays in companion diagnostics for increasing the safety & efficacy of therapies, government and private funding for carrying out research and technological advancement in the products. Furthermore, increasing validation of biomarkers in molecular and protein diagnostics coupled with the rise in adoption of personalized medicine for increasing safety & efficacy of therapies are the factors that are anticipated to create new opportunities the market. Conversely, stringent regulations and standards and huge capital investments are the factors that are likely to hamper the growth of the market.
The report analyses the multiplex assays market on the basis of product & service, type, technologies, applications, end users, and geography.
In terms of product and service, the market has been bifurcated into instruments, consumables, and software. Consumables segment held the significant revenue share of the market and it is anticipated to observe lucrative market growth over the forecast period owing to the significant increase in focus on research and development coupled with the repeat purchase of assays and reagents.
On the basis of type, the global multiplex assays market is divided into protein assays, nucleic acid assays and cell-based assays. The nucleic acid segment has been split into planar, bead-based and other nucleic acid assay. Further, protein assay has been divided into planar, bead-based and other protein assay. Protein assay offers various advantages including high specificity and sensitivity, easy configuration, minimal usage of samples, and ability to be automated. Further, Advent of multiplexing in proteomics for analysing the unknown proteins and their functions simultaneously and precisely is the key trend that drives the market.
Based on technology, the market has been classified into multiplex RT-PCR, flow cytometry, fluorescence, luminescence, and others. Flow cytometry has various advantages over traditional technologies, which includes its ability to deliver precise and accurate results, and lesser time consumption at about same prices. Further this technology offers the flexibility of running a large number of samples simultaneously with accuracy. This, in turn, fuels the segment growth of the multiple assay market.
The market finds application in the Companion diagnostics, research & development, clinical diagnostics diagnosis, and others. The clinical diagnostics diagnosis segment has been further sub-split into cancer, infectious diseases, cardiac diseases, autoimmune diseases, nervous system disorders and others. The research & development segment is expected to expand at a notable CAGR over forecast period, attributed to the factors including increase in focus of market players on investments in their research on multiplex assays. Further, there are various multiplex kits available in the market which are approved only for research purposes which in turn, highlights the significant revenue share of the research & development segment of multiplex assay market.
Considering the end-user segment, the market is segmented into academic & research centers, biotechnology & biopharmaceutical companies, diagnostic centers, hospitals and others. biotechnology & biopharmaceutical companies’ segment is anticipated to observe lucrative market growth over the forecast period attributed to the factors such as rising focus on the establishment of biotechnology companies in developing economies coupled with the growing number of biotechnology companies, worldwide.
Geographically the multiple assay market is studied across various countries including North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). North America accounted for the largest share of the Multiplex Assays Market in 2018. The dominance of the North America region is attributed to the generous investments and funding available for research in this field existing well-established healthcare system, rising geriatric population, increasing prevalence of cancer and infectious diseases, quick adoption of new innovative products and the presence of the key players in this region. Moreover, Asia-Pacific region is observing robust growth in the market owing to the presence of developing nations such as China and India this will give rise to the Multiplex Assays Market growth. Further, increase in pool of patient population, rise in the prevalence of infectious disease, and significant rise in research & development activities in pharmaceuticals for the treatment of diseases, such as cancer are the factors attributed to the high growth of the region.
The competitive market of Multiplex Assays Market appears fragmented owing to the many large and small players along with the new entrants churning the competition. The key players in the Multiplex Assays Market are Luminex, Thermo Fisher Scientific, Illumina, Bio-Rad Laboratories, Qiagen, Abcam, Becton Dickinson and Company, Merck, Agilent Technologies, Meso Scale Diagnostics, Randox Laboratories, Quanterix , Bio-Techne, Olink , Seegene, Inc. among others.
The report analyses the multiplex assays market on the basis of product & service, type, technologies, applications, end users, and geography. In terms of product and service, the market has been bifurcated into instruments, consumables, and software. On the basis of type, the global multiplex assays market is divided into protein assays, nucleic acid assays and cell-based assays. The nucleic acid segment has been split into planar, bead-based and other nucleic acid assay. Further, protein assay has been divided into planar, bead-based and other protein assay. Based on technology, the market has been classified into multiplex RT-PCR, flow cytometry, fluorescence, luminescence, and others. The market finds application in the Companion diagnostics, research & development, clinical diagnostics diagnosis, and others. Considering the end-user segment, the market is segmented into academic & research centers, biotechnology & biopharmaceutical companies, diagnostic centers, hospitals and others. Geographically the multiple assay market is studied across various countries including North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The key players in the Multiplex Assays Market are Luminex, Thermo Fisher Scientific, Illumina, Bio-Rad Laboratories, Qiagen, Abcam, Becton Dickinson and Company, Merck, Agilent Technologies, Meso Scale Diagnostics, Randox Laboratories, Quanterix, Bio-Techne, Olink , Seegene, Inc. among others.
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