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Multiplex Assays Global Market Report 2022

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Major players in the multiplex assays market are Thermo Fisher Scientific, Inc. , Luminex Corporation, Illumina, Inc, Bio-Rad Laboratories, Inc, QIAGEN N. V, Becton, Dickinson and Company, Bühlmann Laboratories, Seegene Inc, Meso Scale Diagnostics LLC.

New York, June 02, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Multiplex Assays Global Market Report 2022" -
, Randox Laboratories Ltd., Merck KGaA, Agilent Technologies, Inc., Quanterix, Bio-Techne Corporation, Promega Corporation, Hoffmann-La Roche, Siemens Healthineers, PerkinElmer, Inc., Danaher Corporation and Abbott Laboratories

The global multiplex assays market is expected to grow from $3.02 billion in 2021 to $3.25 billion in 2022 at a compound annual growth rate (CAGR) of 7.66%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $4.37 billion in 2026 at a CAGR of 7.67%.

The multiplex assay market consists of sales of immunoassays by entities (organizations, sole traders, or partnerships) in which multiple analytes (proteins, biomolecules, growth factors, cytokines, chemokines, and others) are penciled by detecting and quantifying them contemporaneously.These assays are used to amplify multiple targets in a polymerase chain response (PCR) trial and collect further information from nanosecond amounts of proteins or other analytes in lower time as compared to the conventional system, similar as ELISA.

Multiplex assays are used for pathogen identification, mutation analysis, RNA discovery, gene discovery analysis, relation analysis, forensic studies, and others.

The main types of multiplex assays include nucleic acid-based multiplex assays, protein-based multiplex assays and other types.Nucleic acid-based multiplex assays are based on the nucleic acid to detect organism-specific DNA or RNA sequences.

These tests are generally specific and highly sensitive and the results can be provided rapidly.The different multiplex assays technologies include flow cytometry, luminescence, fluorescence detection, multiplex real-time PCR and other technologies.

Multiplex assays are used for various applications such as research and development, drug discovery and development, biomarker discovery and validation and clinical diagnostic by end-users including pharmaceutical and biotechnology companies, hospitals and research institutes, reference laboratories and other end users.

North America was the largest region in the multiplex assays market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Increased incidence of chronic diseases is driving the growth of the global multiplex assay market.Multiplex assay is extensively used in clinical trials to analyze and study the efficacy of a disease and for detection of antibodies against those diseases.

According to the World Health Organization (WHO) report published in April 2021, chronic diseases also known as non-communicable diseases (NCDs) kill 41 million people each year, equivalent to 71% of all deaths globally.Every year, between the ages of 30 and 69 years, more than 15 million people die from an NCD.

Due to the growing acceptance and the advantages of multiplex assays over traditional assays such as quicker analysis, the market for multiplex assays is expected to develop rapidly, driving the growth in the forecast period.

Strategic partnerships and collaborations between companies in the industry is a trend gaining popularity in the multiplex assays market.Companies in the market are collaborating on developing assays that can detect diseases quickly and effectively.

For instance, in 2020, China based biotechnology company, Sino Biological announces a co-development agreement with US based biotechnology company, Nanommune to jointly develop coronavirus antigen array products for serological studies of COVID-19 and other infectious diseases. The coronavirus multiplex serological assay collaboration allows Sino Biological to make its recombinant coronavirus antigens available on a microarray multiplex-based platform, which enables rapid profiling of antibodies interacting with these targets in biological samples.

In May 2021, Swiss healthcare company, Roche acquired GenMark for a deal amount of $1.8 billion. Through this acquisition, Roche’s expands its portfolio of molecular diagnostics in syndromic testing. GenMark Diagnostics is a US based multiplex molecular diagnostic solutions provider, designed to enhance patient care, improve the key quality metrics, and reduce the total cost of care.

The countries covered in the multiplex assays market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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