According to Vision Research Reports, the global multiplexed diagnostics market size surpassed around US$ 8.8 Bn in 2019 and is projected to grow at a CAGR of 17.9% from 2019 to 2027.
The global multiplexed diagnostics market size is projected to surpass US$ 39.5 billion by 2027, rise in private and public funding for genomics and personalized medicine and growing demand for advanced diagnostic technology for accurate diagnosis of life-threatening diseases are projected to drive the global multiplexed diagnostics market during the forecast period. Lack of skilled labor and high cost associated with multiplexed diagnostics assay can restrain the market growth. Moreover Reimbursement structure for diagnostics test that uses multiplexed assays is unclear by private as well as public payers as compared to conventional diagnostic tests which can restrain the global multiplexed diagnostics market.
Significant private and public funding for genomics and personalized medicine is a key factor driving the global multiplexed diagnostics market. Moreover favorable regulatory scenario for new product launch and multiple usage of multiplexed diagnostics technology are some of the major factors responsible for the growth of global multiplexed diagnostics market.
Overview
Significant private and public funding for genomics and personalized medicine to Drive Market
Medium Density Multiplexed Assays Segment to Dominate Market
Cardiac Diseases- More Lucrative Application Segment
Academic research institutes Segment- Lion Market Share
North America to Dominate Global Market
Competitive Landscape
Market Segmentation:
By Technology
By Application
By End-user
By Region
Report Scope
VRR’s report on the global multiplexed diagnostics market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2020 to 2027. The report provides revenue of the global multiplexed diagnostics market for the period 2016–2027, considering 2020 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global multiplexed diagnostics market during the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global multiplexed diagnostics market.
Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global multiplexed diagnostics market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global multiplexed diagnostics market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global multiplexed diagnostics market.
The report delves into the competitive landscape of the global multiplexed diagnostics market. Key players operating in the global multiplexed diagnostics market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global multiplexed diagnostics market that have been profiled in this report.
Key Questions Answered in Global Multiplexed Diagnostics market Report
Research Methodology
A unique research methodology has been utilized by VRR to conduct comprehensive research on the growth of the global Multiplexed Diagnostics market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary methods referred to by analysts during the production of the global Multiplexed Diagnostics market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of VRR’s study on the multiplexed diagnostics market as primary methods.
These primary and secondary methods have provided exclusive information during interviews, which serves as a validation from the multiplexed diagnostics market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global multiplexed diagnostics market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching VRR’s estimates on future prospects of the global multiplexed diagnostics market more reliably and accurately.
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