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The multiplex assays market share is expected to increase to USD 1.34 billion from 2021 to 2026 at a progressing CAGR of 7.7%. One of the key highlights of this report is the valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches for the coming years.
The multiplex assays market vendors studied and compiled in this report include Abcam plc, Agilent Technologies Inc., Antigenix America Inc., Becton Dickinson and Co., Bio Rad Laboratories Inc., Bio Techne Corp., Cayman Chemical Co., DiaSorin SpA, Enzo Biochem Inc., Illumina Inc., Merck KGaA, Meso Scale Diagnostics LLC, PerkinElmer Inc., Promega Corp., QIAGEN NV, Quanterix Corp., Randox Laboratories Ltd., Seegene Inc., Siemens Healthcare GmbH, and Thermo Fisher Scientific Inc. among others.
This multiplex assays market research report extensively covers market segmentation by the following:
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The predictive and preventive medicine for early diagnosis and treatment is notably driving the multiplex assays market growth, although factors such as lack of accessibility and affordability of diagnostic tests in developing countries may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the multiplex assays industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Multiplex Assays Market Driver
Key Multiplex Assays Market Trend
Key Multiplex Assays Market Challenge
This multiplex assays market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global multiplex assays market as a part of the global life science tools and services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the multiplex assays market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the multiplex assays market encompasses successful business strategies deployed by the key vendors. The multiplex assays market is fragmented and the vendors are deploying growth strategies such as investment in R&D to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The multiplex assays market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the multiplex assays market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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39% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for multiplex assays in North America. Market growth in this region will be faster than the growth of the market in Rest of World (ROW).
The fast-growing elderly population and the high prevalence of chronic and infectious diseases will facilitate the multiplex assays market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 has surged the demand for multiplex assay-based antibody tests to detect the presence of SARS-CoV-2 antibodies. For instance, in 2020, China-based biotechnology company Sino Biological announced 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. Such factors will drive the growth of the market in the region during the forecast period.
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The multiplex assays market share growth by the protein multiplex assays segment will be significant during the forecast period. Rapid analysis and high precision are possible through multiplex protein assays that have the capability to detect various biomarkers for various types of cancers, diabetes, thyroid, hepatitis, and HIV. Such factors are expected to increase the demand for protein multiplex assays during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the multiplex assays market size and actionable market insights on post COVID-19 impact on each segment.
Multiplex Assays Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.7% |
Market growth 2022-2026 |
$ 1.34 billion |
Market structure |
Fragmented |
YoY growth (%) |
7.1 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 39% |
Key consumer countries |
US, Canada, Germany, UK, and China |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Abcam plc, Agilent Technologies Inc., Antigenix America Inc., Becton Dickinson and Co., Bio Rad Laboratories Inc., Bio Techne Corp., Cayman Chemical Co., DiaSorin SpA, Enzo Biochem Inc., Illumina Inc., Merck KGaA, Meso Scale Diagnostics LLC, PerkinElmer Inc., Promega Corp., QIAGEN NV, Quanterix Corp., Randox Laboratories Ltd., Seegene Inc., Siemens Healthcare GmbH, and Thermo Fisher Scientific Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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