Global Multiplex Testing Market Forecast to 2026: Growing Adoption of Multiplex Testing in Companion Diagnostics to Drive Market Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “multiplex assay market by product (consumables, instruments, software and services), type (nucleic acid, protein, cell), technology (flow cytometry, luminescence, application (R&D, diagnostics), end user (pharma and biotechnology, Hospital) – The Global Forecast to 2026 report” has been added to from ResearchAndMarkets.com offer.

The global multiplex testing market is expected to reach USD 4.3 billion by 2026, from USD 3.0 billion in 2021, growing at a CAGR of 7.6% during the forecast period.

The market growth is majorly driven by factors such as rising adoption of companion diagnostics, growing incidence of chronic and infectious diseases, rising awareness of disease diagnosis, and need for effective analytical platforms in research and clinical diagnostics to reduce operational costs. and the time required for diagnosis. However, the high cost of multiplex test equipment, stringent regulations and standards, and standardization issues in multiplex test design are the major factors restraining the growth of this market.

On the basis of products and services, the multiplex testing market is segmented into instruments, consumables, software and services. In 2020, the consumables segment is expected to account for the largest market share; it is also the fastest growing segment of the multiplex testing market. This can be attributed to the recurring purchase of tests and reagents for the increase in research applications.

Based on type, the global multiplex assays market is divided into protein-based multiplex assays, nucleic acid-based multiplex assays, and cell-based multiplex assays. In 2020, the protein-based multiplex testing segment is expected to account for the largest share of the global multiplex testing market. This large share can be attributed to the growing interest in proteomic studies for research on biomarkers and clinical diagnostics.

On the basis of application, the global multiplex testing market is divided into research and development and clinical diagnostics. In 2020, the research and development segment is expected to account for the largest share of the global multiplex testing market. This large share can be attributed to the wide applications of multiplex assay technologies in research and development functions.

Based on the end user, the multiplex testing market is segmented into pharmaceutical and biotechnology companies, hospitals and research institutes, reference laboratories and other end users. In 2020, the pharmaceutical and biotechnology companies segment is expected to account for the largest share of the global multiplex testing market. This large share can be attributed to the increasing adoption of multiplex assays in drug discovery and development by pharmaceutical companies and the growing interest of biotechnology companies in the development of biosimilars and monoclonal antibodies.

Main topics covered:

Abstract

  • Multiplex Testing Market, By Product & Service, 2021 Vs. 2026 (USD Billion)

  • Multiplex Testing Market, By Type, 2021 Vs. 2026 (USD Billion)

  • Multiplex Trials Market, By Technology, 2021 Vs. 2026 (USD Billion)

  • Multiplex Testing Market, By Application, 2021 Vs. 2026 (USD Billion)

  • Multiplex Testing Market, By End User, 2021 Vs. 2026 (USD Billion)

  • Geographical Overview of the Multiplex Assays Market (2021-2026)

Premium Previews

  • Growing Adoption of Multiplex Testing in Companion Diagnostics to Drive Market Growth

  • North America: Multiplex Testing Market, By Application and Country (2020) – R&D will account for the largest share of the North American Multiplex Testing Market in 2020

  • Multiplex Testing Market, By Region (2021 vs 2026) – North America to Dominate the Multiplex Testing Market in 2026

  • Geographical Overview of Multiplex Testing Market – APAC to be fastest growing market from 2021 to 2026

Market dynamics

Drivers

  • Increasing use of multiplex assays in companion diagnostics

  • Growing advantages over singleplex and traditional assays

  • Increasing incidence of chronic and infectious diseases and growing awareness of early disease diagnosis

Constraints

  • Increased Equipment Costs

  • Growing number of strict regulations and standards

Opportunities

  • Increasing Biomarker Validation in Molecular and Protein Diagnostics

  • Growing need for high throughput and automated systems

Challenges

  • Growing Shortage of Skilled Professionals

13 company profiles

  • Abcam plc

  • Agilent Technologies Inc.

  • Antigenix America, Inc.

  • Becton Dickinson and company

  • Bio-Rad Laboratories, Inc.

  • Bio-Techne Corporation

  • Boster Biological Technology

  • Cayman Chemical Ltd.

  • Diasorin SPA

  • Enzo Life Sciences, Inc.

  • Illumina, Inc.

  • Luminex Corporation

  • Merck KGaA

  • Mesoscale Diagnostics, LLC

  • Olink

  • Perkinelmer Inc.

  • Promega Corporation

  • Qiagen AG

  • Quanterix

  • Randox Laboratories Ltd.

  • Seegene Inc.

  • Shimadzu Company

  • Siemens Healthineers

  • Thermo Fisher Scientific Inc.

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