“The global multiplex assays market is projected to grow at a CAGR of 7.5%.”
The global multiplex assays market is projected to reach USD 3.35 billion in 2023 from USD 2.33 billion in 2018, at CAGR of 7.5%. Multiplex assays enables the simultaneous detection of multiple analytes in a single run/cycle of the assay. The use of multiplex assays in companion diagnostics for increasing the safety & efficacy of therapies and the advantages of multiplex assays over conventional singleplex assays are driving the growth of the market. However, the high cost of multiplex assay equipment & standardization of immunoassay design and quality control are the major factors expected to restrain market growth.
“The pharmaceutical and biotechnology segment is expected to account for the largest share in 2018.”
On the basis of end user, the global multiplex assays market is divided into pharmaceutical and biotechnology companies, hospitals & academic research institutes, reference laboratories, and other end users. In 2018, the pharmaceutical and biotechnology companies segment is expected to account for the largest share of the global multiplex assays market. This large share can be attributed to the increased adoption of multiplex assays in drug discovery & development by pharmaceuticals and the growing focus of biotechnology companies on developing biosimilars and monoclonal antibodies.
“North America is expected to account for the largest share of the market in 2018.”
By geography, North America is expected to account for the largest share of the multiplex assays market in 2018, followed by Europe. The dominant share of North American market is primarily attributed to its established pharmaceutical industry, presence of leading pharmaceutical and biotechnology companies, and high R&D investment.
Break-up profile of primaries:
- By Company Type- Tier 1-42%, Tier 2-37% and Tier 3-21%
- By Designation- C-level-34%, D-level-42% and Others-24%
- By Region- North America-32%, Europe-30%, Asia Pacific-24%, and RoW-14%
The key players in the multiplex assays market are Luminex (US), Bio-Rad Laboratories (US), Becton, Dickinson (US), Illumina (US), and Thermo Fisher Scientific (US).
The multiplex assays market in this report is segmented by product & services, type, technology, application, and end user. The study tracks and analyzes competitive developments such as product launches, collaborations, agreements, partnerships, and acquisitions, and profiles key players and core competencies in the multiplex assays market.
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The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on portfolios offered by the top players in the global multiplex assays market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and product launches in the global multiplex assays market
- Market Development: Comprehensive information about lucrative emerging markets?the report analyzes the markets for multiplex assays products across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, and recent developments in the global multiplex assays market
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the key players in the global multiplex assays market