Multiplex Assays Market Size Worth $ 8,136.7 Million By 2032 | CAGR: 8.81%

The global multiplex assays market size is expected to reach USD 8,136.7 million by 2032, according to a new study by Polaris Market Research. The report “Multiplex Assays Market Share, Size, Trends, Industry Analysis Report, By Type; By Technology (Flow Cytometry, Fluorescence Detection, Luminescence, Multiplex Real-Time PCR, Others); By Application; By End-Use; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The market is driven by the increased prevalence of chronic disorders like cancer, where multiplex tests are commonly used. Rapid advancements in nanotechnology and the numerous advantages of multiplex assays also contribute to market growth. Government funding, research efforts in the pharmaceutical and biotechnology sectors, and the focus on improving experimental efficiency are further propelling the market. Recognizing the multifactorial nature of diseases such as cancer and Alzheimer's has created a demand for cost-effective and time-saving technologies that can assess multiple analytes in a single sample. This factor is driving the adoption of multiplex tests. The rise of companion diagnostics, essential for personalized treatment, is also expected to impact the market significantly.

However, the high costs associated with purchasing and using multiplex assays, stringent government regulations, and the need for affordable healthcare services pose challenges to market expansion. Additionally, the complexity of clinical trial methodologies is hindering market growth. Nevertheless, ongoing research and development efforts hold promise for the future of the global multiplex assay market.

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The multiplex assays market has grown significantly due to notable acquisitions and advancements by major players. One such acquisition was the purchase of GRAIL, a healthcare startup focused on early cancer diagnosis, by Illumina. While undergoing regulatory examination by the European Commission, Illumina has maintained GRAIL as a separate entity. Similarly, Thermo Fisher Scientific acquired Mesa Biotech, a point-of-care molecular diagnostic company, in February 2021, further driving market growth. These acquisitions by key players have contributed to expanding the market.

Additionally, in August 2021, Becton, Dickinson, and Company introduced the BD COR System, an automated high-throughput diagnostic system. The BD COR System has set a new standard for viral disease analysis using robotics and sample management software algorithms. Such product launches for treating various diseases have significantly boosted the market's growth.

Multiplex Assays Market Report Highlights

• Protein multiples assays segment accounted for the largest shares in the market. due to these assays providing valuable insights into disease mechanisms and treatment response through biomarker discovery, validation, and profiling.
• Flow cytometry segment held a significant revenue share and dominated the market due to adoption of flow cytometry's in basic research and clinical diagnostics has made it an indispensable tool, offering multiparametric analysis of thousands of single cells per second for valuable information.
• Research and development segment is anticipated to grow fastest in the market. Multiplex assays are increasingly in demand for drug discovery, critical in evaluating toxicity, assessing immunotherapy success, and identifying drug response biomarkers in both clinical and preclinical stages.
• Pharmaceutical and biotechnology companies segment hold the largest revenue share. Pharmaceutical companies' increasing use of multiplex assays in drug research and development, coupled with biotechnology companies' focus on biosimilars and monoclonal antibodies
• North America is accounted for the largest shares of the market in 2022. Due to its growth is fueled by the rising number of immunoassay tests and the prevalence of Alzheimer's patients.
• The global key market players include Promega Corporation, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., Luminex Corporation, Bio-Techne Corporation, Shimadzu Biotech, Becton, AYOXXA Biosystems GmbH, Merck KGaA, Abcam plc, Meso Scale Diagnostics, Qiagen N.V., Olink, Enzo Life Sciences, Inc.

Polaris Market Research has segmented the multiplex assays market report based on type, technology, application, end-use, and region:

Multiplex Assays, Type Outlook (Revenue - USD Million, 2019 - 2032)

• Protein Multiplex Assays

• Planar Protein Assays
• Bead-Based Protein Assays
• Other Protein Assays

• Nucleic Acid Multiplex Assays

• Planar Nucleic Acid Assays
• Bead-Based Nucleic Acid Assays
• Other Nucleic Acid Assays

• Cell-Based Multiplex Assays

Multiplex Assays, Technology Outlook (Revenue - USD Million, 2019 - 2032)

• Flow Cytometry
• Fluorescence Detection
• Luminescence
• Multiplex Real-Time PCR
• Others

Multiplex Assays, Application Outlook (Revenue - USD Million, 2019 - 2032)

• Research & Development

• Drug Discovery & Development
• Biomarker Discovery & Validation

• Clinical Diagnostics

• Infectious Diseases
• Cancer
• Cardiovascular Diseases
• Autoimmune Diseases
• Nervous System Disorders
• Metabolism & Endocrinology Disorders
• Others

Multiplex Assays, End-Use Outlook (Revenue - USD Million, 2019 - 2032)

• Pharmaceutical & Biotechnology Companies
• Hospitals & Research Institutes
• Reference Laboratories
• Others

Multiplex Assays, Regional Outlook (Revenue - USD Million, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Multiplex Assays Market Report Scope