The global multiplex assay market size was US$ 2105.4 million in 2021. The global multiplex assay market size is forecast to reach US$ 4370.4 million by 2030, growing at a compound annual growth rate (CAGR) of 8.5% during the forecast period from 2022 to 2030.
A multiplex assay allows the simultaneous detection and quantification of a variety of analytes (such as proteins, biomolecules, growth factors, cytokines, and chemokines). As compared with conventional methods such as ELISA, it provides more information from minute quantities of proteins or other analytes and amplification of multiple targets in a polymerase chain reaction (PCR). Pathogen identification, mutation analysis, RNA detection, gene detection analysis, linkage analysis, and forensic studies are among the many uses of multiplex assays.
Factors Influencing Market Growth
Due to increasing R&D activities in the pharmaceutical sector for the treatment of several diseases, the global multiplex assay market is witnessing significant growth.
Clinical trials use these assays to reduce research & manual labor costs and improve outcomes. Additionally, they enable a quicker and easier analysis of diseases and are automated, thus propelling the growth of the multiplex assay market.
High capital investment and shortage of skilled laborers may slow down the global market growth.
Impact Analysis of COVID-19
Globally, the outbreak of COVID-19 has disrupted health care workflows. Many industries, including several sub-domains of health care, were forced to shut their doors temporarily because of the disease. Globally, the COVID-19 pandemic remained positive for prominent players in the multiplex assay industry. Massive demand for a multiplex of the SARS-CoV-2 assay, such as multiplex point-of-care assays during the COVID-19, has positively boosted the growth of the multiplex assay market. A number of companies received the FDA's emergency use authorization for their COVID-19 multiplex assays to meet the soaring demand of the high volume of testing.
Regional Insights
In 2021, North America held dominant in the multiplex assay market. An increase in government funds for the detection of new biomarkers, an increase in R&D activities of new drugs and diagnosis and treatment options, as well as an increase in the prevalence of chronic diseases such as cancer and strokes throughout the region, are all contributing factors.
During the forecast period, the Asia-Pacific region is forecast to see significant market growth. Several factors have contributed to the increase in per capita income in many countries, the rise in government initiatives to improve the healthcare sector, and the surge in focus among manufacturers to expand into emerging Asia-Pacific markets.
Leading Competitors
The leading prominent companies profiled in the global multiplex assay market are:
Luminex Corporation
Thermo Fisher Scientific Incorporated
Illumina Incorporated
Bio-Rad Laboratories Incorporated
QIAGEN N.V.
Becton, Dickinson, and Company
Abcam PLC
Seegene Incorporated
Meso Scale Diagnostics LLC
Randox Laboratories Limited
Other Prominent Players
Scope of the Report
The global multiplex assay market segmentation focuses on Type, Product, Application, End-Users, and Region.
Segmentation based on Type
Protein Based Multiplex Assays
Nucleic Acid-Based Multiplex Assay
Other multiplex Assays
Segmentation based on Product
Reagents & Consumables
Instruments & Accessories
Software & Services
Segmentation based on Application
Clinical Diagnostics
Research & Development
Companion Diagnostics
Segmentation based on End-Users
Hospitals
Clinical Laboratories
Research Institutes
Pharmaceutical & Biotechnology Companies
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
