The global Multiplex Assays Market garnered $3.47 billion in 2015 and is estimated to register $5.72 billion by 2022, registering a CAGR of 7.4% from 2016 to 2022. The protein-based multiplex assays segment contributed nearly two-thirds of the total market share in 2015.
Rise in research & development activities for detection of biomarkers in different diseases & treatment options, surge in acceptance of personalized medicine to enhance safety & efficacy of therapies drive the market growth. However, scarcity of skilled personnel and huge initial capital investment would hinder the market growth during the forecast period. On the other hand, benefits including low operational cost and technological advancements create new opportunities in the industry.
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The report provides a detailed segmentation on the global multiplex assays market based on type, technology, product, end user, application, and geography. Based on type, the market is further bifurcated into protein-based multiplex assays, nucleic acid-based multiplex assays, and other multiplex assays. The protein-based multiplex assay segment held the largest share of nearly two-thirds of the total market in 2015, owing to increase in usage of multiplex assays for carrying out differentiation of proteins based on their properties in various fields, including research & development, diagnostic clinics, and others.
Based on product, the market is further bifurcated into multiplex assays instruments & accessories, multiplex assay consumables, and multiplex assay software & services. The multiplex assays reagents & consumable market contributed the largest share of nearly three-fourths of the total market share in 2015, and would contribute the dominant share during the forecast period. Based on end users, the pharmaceuticals & biotechnological companies segment contributed the highest market share in 2015, and is expected to register the highest growth rate during the forecast period, owing to the huge utilization of multiplex assays for research and development activities by pharmaceutical and biotechnology companies.
Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America held the largest market share in 2015, accounting for nearly half of the total share. This is due to the huge amount of expenditure in research & development in healthcare systems and huge demand for technically advanced devices for carrying out research. However, Asia-Pacific is expected to grow at the largest CAGR during the forecast period, owing to increase in healthcare expenditure, rise in per capita income, & enhanced healthcare infrastructure.
Key Findings of the report:
- The multiplex assays reagents & consumable segment held the highest market share in the product segment in 2015, and is also expected to register the highest CAGR of 7.7% during the forecast period.
- Based on application, the research and development segment held the largest market share and is expected to lead throughout the analysis period.
- The U.S. held the largest revenue in the North American multiplex assays market, contributed for nearly six-sevenths of the total share in 2015.
- China is expected to witness the largest growth rate during the forecast period in the Asia-Pacific multiplex assays market.
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The key players analyzed in the research are Luminex Corporation, Illumina, Inc., Thermo Fisher Scientific, Inc., QIAGEN N.V., Bio-Rad Laboratories, Inc., Abcam PLC., Becton, Dickinson and Company, Meso Scale Diagnostics, LLC., Seegene Inc., and Randox Laboratories Ltd.
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