A 7.8% CAGR during the forecast period (2018-2023) is on the cards for the global multiplex assay market, predicts Market Research Future (MRFR) in their latest report on the same. The multiplex essay is derived from ELISA by using beads and is a type of immunoassay that can analyze multiple analytes in one go using magnetic beads. Flow cytometry is often used to read the result of the multiplex assay.
Technological advancement is going to play a substantial role in taking forward the multiplex assay market. Nanotechnology is expected to play a huge role by producing miniaturization of the microarray. The increasing awareness regarding the multifactorial nature of diseases such as cancer and Alzheimer is triggering more researches in those fields owing to which cost-effective methods such as multiplex assay is getting priority. At the same time, the method is known to save time which is of utmost importance. But its complex procedures can lessen the expected multiplex assay market growth.
The global multiplex assay market can get influenced by influential companies such as Illumina Inc, Thermo Fisher Scientific Inc, Randox Laboratories Ltd, Qiagen, Abcam plc, Merck Sharp & Dohme Corp, BD, Bio Rad Laboratories Inc, Meso Scale Diagnostics LLC, Agilent Technologies, Bio-Techne, Quanterix, and Seegene Inc.
In March 2019, Ultivue launched improved InSituPlex DNA-barcoding and staining technology which would certainly impact the visualization of the assay in tissue. This would lessen the time to visualize an entire slide and spatially profile it.
March 2019 is also significant in TB diagnosis as Bruker launched their new equipment PCR-based FluoroType MTBDR 2.0 assay which can directly test samples from patients to identify TB pathogens. The machine follows the Bruker-Hain Liquid Array technology to analyze mutations in TB resistance genes.
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MRFR’s analysis reads the predictive scene of the global multiplex assay market by segmenting it into products & services, technology, types, application, and end-user.
Based on the products & services, the multiplex assay market includes consumable, instrument, and software & services.
Based on the types, the multiplex assay market comprises a protein, nucleic acid, and cell-based multiplex assay. The protein multiplex assay includes planer protein assay and bead-based protein assay. The nucleic acid multiplex assay segment comprises planer nucleic acid assay, bead-based nucleic acid assay, and other.
Based on the technology, the multiplex assay market encapsulates flow fluorescence detection, cytometry, multiplex real-time PCR, luminescence, and others.
Based on the application, the multiplex assay market can be segmented into research & development, clinical diagnostic, and others. The research & development include biomarker discovery, drug discovery & development, and validation. The clinical diagnostic segment can be segmented into cancer, infectious diseases, autoimmune diseases, cardiovascular diseases, nervous system disorders, and others.
On the basis of the end-user, the multiplex assay market includes pharmaceutical & biotechnology companies, hospital & research institutes, clinical laboratories, and other end-users.
MRFR, while delving deep into the multiplex assay market, included four major regions, namely, North America, Europe, Asia-Pacific, and the Rest-of-the-World (RoW) for a better understanding of the market.
A robust infrastructure for research and development, along with high expenditure, is pushing the North American market forward. The region ranks above others as it generates the most share of the market revenue. Major biopharmaceutical firms are all from this region. Better reimbursement policies and high investment capacity for healthcare are factors that can increase the market limits for the region.
The APAC region may emerge as the fastest CAGR holder during the forecast period. The regional multiplex assay market is marked well by the increasing population suffering from cataract and Alzheimer. Diseases that are known to be great influencers of the multiplex assay market.
Europe’s growth is relying mostly on the structural benefits, government initiatives, and a vast patient pool. On the other hand, the MEA market is expected to produce the least amount of share as stringent government policies and poor economies can put up hurdles for the regional market.
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