Global Multiplex Assays Market is segmented By Product (Consumables and Reagents, Instruments and Accessories, Software and Services), By Type (Protein Multiplex Assays, Nucleic Acid Multiplex Assays, Cell-Based Multiplex Assays), By Technology (Flow Cytometry, Fluorescence Detection, Luminescence, Multiplex Real-Time PCR, Others), By Application (Research & Development, Clinical Diagnostics), By End-User (Pharmaceutical & Biotechnology Companies, Hospitals & Clinics, Research Institutes), and By Region (North America, South America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Multiplex Assays Market Overview
The Multiplex Assays Market report analyzes the global market size, shares, recent trends, competitive intelligence, and future market outlook. Multiplex assays are used in various applications such as diagnostics, drug discovery, and research. The market is driven by increasing demand for accurate and rapid diagnostic solutions, the rising prevalence of chronic diseases, and advancements in technologies. America is expected to hold a significant share of the market due to the presence of key market players, increasing R&D activities, and the high prevalence of chronic diseases. Key players in the Multiplex Assays Market include Luminex Corporation, Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., and other prominent players operating in the market.
A multiplex assay is a kind of immunoassay that utilizes magnetic beads to measure various analytes in a single experiment concurrently. It is a derivative of an ELISA using beads for combining the capture antibody. It offers different advantages over singleplex assays. The requirement for lower sample input has been mentioned already; typically, 25–50 µL sample volume is required to test several markers compared with 100 µL per target required for ELISA.
Multiplex Assays Market Scope
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Metrics |
Details |
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Market CAGR |
7% |
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Segments Covered |
By Product, By Type, By Technology, By Application, By End-User, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Multiplex Assays Market Growth and Trends
The major factors driving the growth of the multiplex assays market include adopting companion diagnostics for improving the safety & efficacy of therapies and the advantages of multiplex assays over conventional singleplex assays.
Rising demand for commercial multiplex assays globally
The multiplex assay market is witnessing substantial growth, backed by the increase in R&D activities across the pharmaceutical sector to treat numerous diseases, including chronic illnesses. The multiplex assays are used in clinical trials to decrease the cost of R&D labor and simultaneously increase the efficiency of therapies and experiments. Moreover, the multiplex assays offer a more comfortable and faster analysis of diseases through incorporating automation, thus fueling the multiplex assay market growth.
COVID-19 Impact on Multiplex Assays Market Growth
The COVID-19 pandemic is expected to drive the growth of the multiplex assays market during the forecast period. The market has seen a modest increase in 2020, backed by the rise in its adoption of vaccines for COVID-19. Therefore, modest growth was witnessed by the multiplex assay market in 2020.
Multiplex Assays Market Segment Analysis
Based on the end-user, the multiplex assay market has been classified into pharmaceutical and biotechnology companies, hospitals & clinics, and research institutes.
Pharmaceutical & biotechnology companies lead the market throughout the forecast period.
The pharmaceutical & biotechnology companies segment led the overall market with a share in 2019. Its growing utilization backs this dominance in the discovery, manufacturing, and drug development process. Moreover, the increasing adoption of multiplex assays in cancer diagnosis, including bone marrow diseases, immune system diseases, and other infectious diseases, is also driving the market.
The multiplex assay market has been classified into consumables and reagents, instruments and accessories, and software and services based on the product.
The consumables and reagents segment dominated the global multiplex assays market in 2019
The consumables and reagents segment accounted for the largest share of the global market in 2019. This is owing to the requirement of a frequent purchase of kits and reagents and the increasing number of immunoassay tests performed globally, backed by the rising incidence of chronic and infectious diseases. Thermo Fisher Scientific, Siemens Healthineers, and F. Hoffmann-La Roche are some of the major players operating in this market and offering consumables and reagents to end-users worldwide.
Multiplex Assays Market Geographical Share
Based on geography, the study analyzes the multiplex assays market in the global market, including North America, South America, Europe, Asia-Pacific, and the Middle East & Africa.
North America leads the global market throughout the forecast period.
North America dominates the global multiplex assays market with the largest share in terms of value and volume globally, followed by Europe and the Asia Pacific. The US dominated the North American multiplex assay market in 2019. The market is mainly driven by well-developed technologically advanced healthcare infrastructure in the US coupled with the increasing per capita healthcare expenditure.
Moreover, government agencies increase funding and the rise in focus to develop innovative drugs and biomarkers in this region. Moreover, Asia Pacific is projected to grow at the fastest CAGR in the multiplex assays market during the forecast period. China is estimated to dominate the Asia Pacific market due to the rapidly developing healthcare infrastructure, increased inpatient population, and a significant rise in R&D activities in pharmaceutical companies.
Multiplex Assays Market Companies and Competitive Landscape
The multiplex assay market is highly competitive, owing to the large presence of multiplex assay brands. The key multiplex assays players include Abcam Plc, Becton, Dickinson and Company, Bio-Techne, Bio-Rad Laboratories, Biomerieux SA, Hologic Corporation, Luminex Corporation, Seegene Inc., Thermo Fisher Scientific Inc., Merck KGaA, HD Biosciences Co., Ltd. The crucial players are adopting new product launches and expansion strategies for global growth in the multiplex assay market.
Thermo Fisher Scientific Inc.
Overview: Thermo Fisher Scientific Inc. is a medical equipment and devices company based in Massachusetts, the US, and was founded in 1960. The company manufactures scientific instruments, chemicals, and consumables. It offers laboratory equipment, analytical device, software, services, reagents, consumables, and supplies to biotech and pharmaceutical, clinical diagnostic labs and hospitals, research institutions, universities, and government agencies. Thermo Fisher operates through Analytical Instruments, Life Sciences Solutions, Specialty Diagnostics, and Laboratory Products & Services segments.
Product Portfolio: The company's portfolio comprises Luminex xMAP (Multi-Analyte Profiling) technology.
