The global multiplex detection immunoassays market size is expected to be worth around US$ 3.5 billion by 2030, according to a new report by Vision Research Reports.
The global multiplex detection immunoassays market size was valued at US$ 1.6 billion in 2020 and is anticipated to grow at a CAGR of 7.3% during forecast period 2021 to 2030.
The high prevalence and increase in incidence rate of chronic and infectious diseases are projected to drive the global multiplex detection immunoassays market in the near future.
|Market Size||USD 3.5 billion by 2030|
|Growth Rate||CAGR of 7.3% From 2021 to 2030|
|Forecast Period||2021 to 2030|
Assay Type, Technique, Application, End User
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
Hoffmann-La Roche Ltd., QIAGEN, Merck KGaA, Microsynth AG, Bio-Rad Laboratories, Thermo Fisher Scientific, Luminex Corporation, and Becton, Dickinson and Company.
Multiplex immunoassays provide sufficient analytical performance to evaluate serum biomarkers that complement each other in the detection of a larger number of patient samples. The use of differentially detectable beads of different regions enables simultaneous identification and quantification of multiple analytes in the same sample allowing the individual immunoassays to be multiplexed.
The market growth is primarily driven by a host of factors, including increasing need for swift and early detection of antibiotic residues for food and environmental protection, significant rise in the prevalence of infectious and chronic diseases, and increase in emphasis on research and development. The outbreak of the COVID-19 pandemic will play a key role in accelerating research and development activities, as researchers and scientists continue to leverage multiplex detection immunoassays for the detection of human coronaviruses worldwide.
Point-of-care Testing to Aid Market Growth
The noteworthy surge in the demand for point of care diagnostic devices for rapid initial screening in various non-laboratory setting is another factor that is anticipated to provide a considerable boost to the growth of the global multiplex detection immunoassays market during the assessment period. The demand for ‘near-patient tests’ is on the rise, owing to its high patient convenience. Some of the most widely used point-of-care tests include blood glucose tests, drug screenings, and food pathogens. At present, a range of point-of-care immunoassays is available to determine the presence of various pathogens and substances, and efforts are being made to improve the quality and performance of the same, thus driving the multiplex detection immunoassays market during the assessment period.
Rise in Demand for Clinical Diagnosis Applications to Propel Market Growth
Multiplex detection immunoassays are increasingly being used in a wide range of applications, including infectious disease testing, food contamination testing, veterinary disease testing, and R&D activities. The increasing demand for multiplex detection immunoassays for clinical diagnosis is expected to accelerate the development of multiplex detection immunoassays in the upcoming years– a factor that is set to fuel the growth of the market for global multiplex detection immunoassays during the assessment period. Prosthetic joint replacements are primarily used to enhance the quality of life, restore the joint function, and improve mobility. Although prosthetic joint replacement is a globally accepted treatment, prosthetic joint infection is one of the major causes of knee arthroplasties, which makes early diagnosis critical. This is set to drive the demand for multiplex detection immunoassays.
As a measure to prevent prosthetic joint infection, a number of immunoassays are available to assist in the early detection of infections out of which, lateral flow multiplex detection immunoassay is at the forefront in terms of adoption due to the low-costs, speed, and simplicity.
Researchers Focus on Development of Multiplex Immunoassay for Simultaneous Detection of Human Coronaviruses
The outbreak of the COVID-19 pandemic is projected to have a strong impact on the growth of the global multiplex detection immunoassays market. Research and development activities are expected to gain considerable traction across the global multiplex detection immunoassays market during the ongoing COVID-19 health crisis. At present, scientists and researchers are increasingly focusing on the development of multiplex serologic assays to enable swift detection and surveillance of known human coronaviruses. Research and development activities are anticipated to set the tone for the growth of the global multiplex detection immunoassays market in the upcoming years.
In terms of assay type, the global multiplex detection immunoassays market has been bifurcated into planar assay and bead-based assay. The planar assay segment has been split into blends protein arrays (multiplexed ELISA) and antibody arrays. The bead-based assay sub-segment has been segregated into magnetic bead-based and non-magnetic bead-based. The planar assay segment accounted for prominent share of the global multiplex detection immunoassays market in 2020. The segment is anticipated to expand at a high CAGR during the forecast period, owing to rise in the need and demand for diagnosis by patients.
Based on technique, the global multiplex detection immunoassays market has been divided into nucleic acid-based techniques, protein-based techniques, and biosensor-based techniques. The protein-based techniques segment held a significant share of the global multiplex detection immunoassays market in 2020. In terms of application, the global multiplex detection immunoassays market has been classified into disease testing, food contamination testing, research & development, and veterinary disease testing. The research & development segment accounted for major share of the global multiplex detection immunoassays market in 2020.
Based on end user, the global multiplex detection immunoassays market has been categorized into pharmaceutical & biopharmaceutical companies, clinical research organizations, food & beverage industry, academic & research institutes, diagnostic centers, and others. The pharmaceutical & biopharmaceutical companies segment held significant share of the global multiplex detection immunoassays market in 2020.
North America held a major share of the global multiplex detection immunoassays market in 2020. Highly structured healthcare industry, presence of key players, and growth strategies adopted by these players are the major factors driving the multiplex detection immunoassays market in the region. Rise in awareness about benefits of procedures and increase in healthcare expenditure propel the multiplex detection immunoassays market in North America.
Asia Pacific held the second largest share of the global multiplex detection immunoassays market in 2020. The multiplex detection immunoassays market in Asia Pacific is driven by the rise in prevalence of chronic diseases and a well-developed healthcare sector. The multiplex detection immunoassays market in Asia Pacific is likely to grow at a rapid pace during the forecast period. Increase in product approvals, rise in prevalence of cardiovascular diseases, and surge in awareness leading to routine checkups and diagnosis are the major factors projected to augment the multiplex detection immunoassays market in Asia Pacific.
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.
The analysts have provided a comprehensive analysis of the competitive landscape of the global multiplex detection immunoassays market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.
Leading players operating in the global multiplex detection immunoassays market include Hoffmann-La Roche Ltd., QIAGEN, Merck KGaA, Microsynth AG, Bio-Rad Laboratories, Thermo Fisher Scientific, Luminex Corporation, and Becton, Dickinson and Company.
By Assay Type
By End User
This report focuses on multiplex detection immunoassays market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall multiplex detection immunoassays market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global multiplex detection immunoassays market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global multiplex detection immunoassays market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the multiplex detection immunoassays market.
The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.
In this study, the years considered to estimate the market size of multiplex detection immunoassays are as follows:
The research methodology adopted by analysts for compiling the global multiplex detection immunoassays market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global multiplex detection immunoassays market.
The study objectives of this report are:
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