Insights on the Multiplexed Diagnostics Global Market to 2029 - Key Drivers, Challenges and Opportunities

Dublin, May 05, 2021 (GLOBE NEWSWIRE) -- The "Multiplexed Diagnostics Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029" report has been added to ResearchAndMarkets.com's offering.

Multiplexed diagnostics can detect multiple analytes in a sample through a single run. Multiplexed assays are used in the detection of cancers, infectious diseases and functional biomolecules such as (DNA and mRNA). Multiplexed assays aid in disease diagnosis, molecular diagnosis, and drug development. Multiplexed diagnostics is capable to detect analytes in the limited sample and in short span of time by analyzing hundreds of data points simultaneously. Global multiplexed diagnostics market comprise of reagent and consumables, and analyzers. This report includes a comprehensive market analysis of the global multiplexed diagnostics market for the period 2019 - 2029. Key insights discussed in this report will provide market stakeholders complete understanding of the market and aids in market initiatives including product launch and investment areas.

The global multiplexed diagnostics market is categorized in terms of product type, technology, application, and geographical distribution. Based on product type, global multiplexed diagnostics market is segmented into reagents & consumables, and analyzers. Based on technology, global multiplexed diagnostics market is segmented into low density multiplexed assays, medium density multiplexed assays, high density multiplexed assays, very high density multiplexed assays, and next-generation sequencing assays. The application areas of multiplexed diagnostics are disease diagnostics, molecular diagnostics, and drug development. Each aforementioned segment is analyzed for the year 2019 - 2029 and CAGRs are calculated for the forecast period.

Market analysis of geographical categorization is presented for the period 2019 - 2029 with CAGRs for the forecast period. Also, the analysis is further sub-segmented in terms of product type, technology, application, and countries.

Along with quantitative analysis of the global multiplexed diagnostics market, this study also provides qualitative evaluation factors of the market. The report provides key insights related to market drivers and restraints, new product launches and approval and competitive strategies of the leading players. Major players are profiled in the report based on financial performance, product portfolio, and development strategies. Players profiled in this report are F. Hoffmann-La Roche Ltd., Abbott Laboratories, BioMerieux SA, Agilent Technologies, Illumina, Inc., Bio-Rad Laboratories, Hologic, Inc., Siemens Healthineers, Luminex Corporation, and Thermo Fisher Scientific, Inc.

For the purpose of this study, global multiplexed diagnostics market is studied for their application in following product type:

• Reagents & consumables

• Analyzers

Multiplexed diagnostics are efficient diagnostic tests for the diagnosis of cancers, infectious diseases, and personalized medicines. Diagnostic process involves sample, reagents and an instrument for result screening. Therefore, the global multiplexed diagnostics market is segmented into reagents and consumables, and analyzers. In terms of market size, analyzers segment dominate the market due to high cost and installation charges. With the increase in research investments and healthcare expenditure, global multiplexed diagnostics market is growing. Analyzers segment is expected to expand at a slower pace due to availability of rental services provided for analyzers.

As per the rental scheme, analyzers are installed in the organizations with initial installation and consumables charges. Rental services provide support to the institutes with the low budgets for research and development. Hence, market growth of analyzers segment is reduced. However, reagents and consumables segment is expected to surge at a considerable pace due to increased demand for solutions for diagnosis of infectious diseases and personalized medicines. The surge in reagents and consumables segment leads to overall expansion of global multiplexed diagnostics market.

For the purpose of this study, global multiplexed diagnostics market is studied for their application in the following areas:

• Disease Diagnostics

• Molecular Diagnostics

• Drug Development

Multiplexed diagnostics are utilized in drug development process, personalized medicines, molecular diagnostics and diagnosis of infectious diseases. Molecular diagnostics aid in the understanding of the molecular mechanism and further helps in the development of personalized medicines. In terms of market size, disease diagnostics segment leads the market due to increased adoption in the detection, screening and monitoring of cancers and infectious diseases. Disease diagnostics segment is expected to grow at a considerable pace due to increased prevalence of chronic diseases and acute infections.

According to the data provided by CDC, around 236,968 women are affected by breast cancer in the U.S. in the year 2014. Rise in the number of cancer cases has increased the demand for multiplexed diagnostics kits. Furthermore, molecular diagnostics segment is expected to grow at fastest rate due to increased investments for research at the molecular level. Increased demand for the early diagnosis of diseases and adoption in personalized medicine therefore drive the global multiplexed diagnostics market.

For the purpose of this study, global multiplexed diagnostics market is studied for the following technologies:

• Very High Density Multiplexed Assays

• High Density Multiplexed Assays

• Medium Density Multiplexed Assays

• Low Density Multiplexed Assays

• Next Generation Sequencing Assays

Multiplexed diagnostics market was segmented based on the density of the assays. Due to increased demand from pharmaceutical companies and institutes with the intention to rapidly introduce breakthrough drugs in the market, the global multiplexed diagnostics market is expanding. High density and medium density assays are expected to lead the market due to higher cost efficiency and affordability. Other factors contributing to the growth of the market include introduction of novel products in the market. For instance, Mercodia has introduced AKURIO Islet Hormones assay, a multiplex which can detect and quantify glucagon, insulin, C-peptide, and pro-insulin in the same sample.

Based on geographical regions, the global multiplexed diagnostics market is categorized into North America, Asia Pacific, Europe, Middle East and Africa and Latin America.

Global multiplexed diagnostics market is dominated by North America with more than 35% contribution in terms of market value. Also, the global multiplexed market is progressing due to growth in the prevalence of cancers and infectious diseases, and due to increased investment in the field of personalized medicine and molecular diagnostics. According to the NIH, an estimated of 1,685,210 new cases of cancer were diagnosed in the year 2016, which is further anticipated to augment through the coming years.

These factors contribute to the dominance of North America in the market for the year 2016. North America is followed by Europe and the Asia Pacific. Increased investments in research and development in the field of molecular diagnostics in developed countries acts as a driver for the market in Europe. However, due to increasing prevalence of breast cancer and other diseases in the developing countries, Asia Pacific has a high potential for adoption of multiplexed diagnostics; but low affordability restrains the market in this region.

Key Topics Covered:

Chapter 1. Preface
1.1. Report Scope and Description
1.2. Research Methodology
1.2.1. Phase I-Secondary Research
1.2.2. Phase II-Primary Research
1.2.3. Phase III-Expert Panel Review
1.2.4. Assumptions
1.2.5. Approach Adopted

Chapter 2. Executive Summary
2.1. Global Multiplexed Diagnostics Market Portraiture
2.1.1. Global Multiplexed Diagnostics Market, by Product Type, 2020 (US$ Mn)
2.1.2. Global Multiplexed Diagnostics Market, by Technology, 2020 (US$ Mn)
2.1.3. Global Multiplexed Diagnostics Market, by Application, 2020 (US$ Mn)
2.1.4. Global Multiplexed Diagnostics Market, by Geography, 2020 (US$ Mn)

Chapter 3. Multiplexed Diagnostics Market: Market Dynamics and Outlook
3.1. Market Definition and Overview
3.2. Drivers
3.3. Challenges
3.4. Opportunities
3.5. Attractive Investment Proposition, by Geography
3.6. Value Chain Analysis
3.7. Porter's Five Forces Model
3.8. Competitive Landscape
3.8.1. Competitive Landscape, by Key Players, 2020

Chapter 4. Multiplexed Diagnostics Market, by Product Type, 2019 - 2029 (US$ Mn)
4.1. Overview
4.1.1. Attractive Investment Proposition, by Product Type, 2020
4.2. Reagents & Consumables
4.3. Analyzers

Chapter 5. Multiplexed Diagnostics Market, by Technology, 2019 - 2029 (US$ Mn)
5.1. Overview
5.1.1. Comparative Analysis: Global Multiplexed Diagnosis Market, by Technology, 2020 Vs 2025 (Value %)
5.2. Very High Density Multiplexed Assays
5.3. High Density Multiplexed Assays
5.4. Medium Density Multiplexed Assays
5.5. Low Density Multiplexed Assays
5.6. Next Generation Sequencing Assays

Chapter 6. Multiplexed Diagnostics Market, by Application, 2019 - 2029 (US$ Mn)
6.1. Overview
6.2. Disease Diagnostics
6.3. Molecular Diagnostics
6.4. Drug Development

Chapter 7. Multiplexed Diagnostics Market, by Geography, 2019 - 2029 (US$ Mn)
7.1. Overview
7.2. North America Multiplexed Diagnostics Market Analysis, 2019 - 2029 (US$ Mn)
7.2.1. North America Multiplexed Diagnostics Market, by Product Type, 2019 - 2029 (US$ Mn)
7.2.2. North America Multiplexed Diagnostics Market, by Technology, 2019 - 2029 (US$ Mn)
7.2.3. North America Multiplexed Diagnostics Market, by Application, 2019 - 2029 (US$ Mn)
7.2.4. North America Multiplexed Diagnostics Market, by Country, 2019 - 2029 (US$ Mn)
7.2.4.1. U.S.
7.2.4.2. Canada
7.3. Europe Multiplexed Diagnostics Market Analysis, 2019 - 2029 (US$ Mn)
7.3.1. Europe Multiplexed Diagnostics Market, by Product Type, 2019 - 2029 (US$ Mn)
7.3.2. Europe Multiplexed Diagnostics Market, by Technology, 2019 - 2029 (US$ Mn)
7.3.3. Europe Multiplexed Diagnostics Market, by Application, 2019 - 2029 (US$ Mn)
7.3.4. Europe Multiplexed Diagnostics Market, by Country, 2019 - 2029 (US$ Mn)
7.3.4.1. U.K.
7.3.4.2. Germany
7.3.4.3. Rest of Europe
7.4. Asia Pacific Multiplexed Diagnostics Market Analysis, 2019 - 2029 (US$ Mn)
7.4.1. Asia Pacific Multiplexed Diagnostics Market, by Product Type, 2019 - 2029 (US$ Mn)
7.4.2. Asia Pacific Multiplexed Diagnostics Market, by Technology, 2019 - 2029 (US$ Mn)
7.4.3. Asia Pacific Multiplexed Diagnostics Market, by Application, 2019 - 2029 (US$ Mn)
7.4.4. Asia Pacific Multiplexed Diagnostics Market, by Country, 2019 - 2029 (US$ Mn)
7.4.4.1. China
7.4.4.2. Japan
7.4.4.3. Rest of APAC
7.5. Latin America Multiplexed Diagnostics Market Analysis , 2019 - 2029 (US$ Mn)
7.5.1. Latin America Multiplexed Diagnostics Market, by Product Type, 2019 - 2029 (US$ Mn)
7.5.2. Latin America Multiplexed Diagnostics Market, by Technology, 2019 - 2029 (US$ Mn)
7.5.3. Latin America Multiplexed Diagnostics Market, by Application, 2019 - 2029 (US$ Mn)
7.5.4. Latin America Multiplexed Diagnostics Market, by Country, 2019 - 2029 (US$ Mn)
7.5.4.1. Brazil
7.5.4.2. Mexico
7.5.4.3. Rest of Latin America
7.6. Middle East & Africa (MEA) Multiplexed Diagnostics Market Analysis, 2019 - 2029 (US$ Mn)
7.6.1. MEA Multiplexed Diagnostics Market, by Product Type, 2019 - 2029 (US$ Mn)
7.6.2. MEA Multiplexed Diagnostics Market, by Technology, 2019 - 2029 (US$ Mn)
7.6.3. MEA Multiplexed Diagnostics Market, by Application, 2019 - 2029 (US$ Mn)
7.6.4. MEA Multiplexed Diagnostics Market, by Region, 2019 - 2029 (US$ Mn)
7.6.4.1. GCC
7.6.4.2. Rest of MEA

Chapter 8. Company Profiles
8.1. Abbott Laboratories
8.1.1. Business Description
8.1.2. Financial Information (Subject to data availability)
8.1.3. Application Portfolio
8.1.4. Key Developments
8.2. Agilent Technologies
8.3. Baxter International, Inc.
8.4. BioMerieux SA
8.5. Bio-Rad Laboratories
8.6. F. Hoffmann-La Roche Ltd.
8.7. Hologic, Inc.
8.8. Illumina, Inc.
8.9. Luminex Corporation
8.10. Siemens Healthineers
8.11. Thermo Fisher Scientific, Inc.

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