Multiplex Assays Market by Type and Geography - Forecast and Analysis 2022-2026

Published: May 2022

Pages: 126

SKU: IRTNTR73462

Snapshot

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:

Type - Protein multiplex assays, nucleic acid multiplex assays, and cell-based multiplex assays
Geography - North America, Europe, Asia, and Rest of World (ROW)

What will the Multiplex Assays Market Size be During the Forecast Period?

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Multiplex Assays Market: Key Drivers, Trends, and Challenges

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

One of the key factors driving the global multiplex assays market growth is the predictive and preventive medicine for early diagnosis and treatment.
Various research studies in the US have indicated that approximately 10-15 million people who seek medical care are misdiagnosed.
According to annual reports released from the National Academy of Medicine in the US state that approximately 30%-32% of the annual healthcare spending was on an unnecessary or incorrect diagnosis.
Current inefficiencies in preventive healthcare have a significant impact on the economies of the US and China, with healthcare contributing approximately 12%-15% of the overall expenditures of these countries.
Estimates from healthcare commissions in the US have indicated an annual saving of USD 250to USD 300 billion on healthcare costs by 2023.
Correct diagnosis through multiplex assays is pivotal for the fruition of these savings.
Such factors will drive the growth of the market during the forecast period.

Key Multiplex Assays Market Trend

Launch of multiplex assay-based technologies is one of the key multiplex assays market trends that is expected to impact the industry positively in the forecast period.
Vendors are introducing multiplex assay-based technologies to improve the diagnosis of rare diseases. For instance;
- In April 2022, Bruker Corporation launched new multiplex PCR infectious disease assays that are based on its proprietary LiquidArray technology that detects 7 major pathogens causing STIs using LiquidArray multiplex PCR technology.
- In 2021, Eurofins Technologies launched a new multiplex PCR Assay called GSD NovaType III SARS-CoV-2 RT-PCR assay for rapid detection of the SARS-CoV-2 variant.
Such innovations are expected to drive the market during the forecast period.

Key Multiplex Assays Market Challenge

One of the key challenges to the global multiplex assays market growth is the lack of accessibility and affordability of diagnostic tests in developing countries.
High-quality diagnostic tests are neither affordable nor accessible in developing countries such as India and China, where the disease burden is high.
Technology transfer and local production could be some possible strategies to address the various challenges affecting the diagnostics market in developing countries. However, the obstacles to these practices being implemented have wide-reaching consequences, thereby affecting the overall well-being of the inhabitants of these countries.
International initiatives that make Vitro diagnostics accessible at a nominal price in the countries they support are restricted to specific disease-control programs for HIV, TB, and malaria.
Such factors are expected to be major challenges for vendors during the forecast period.

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.

Parent Market Analysis

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.

Who are the Major Multiplex Assays Market Vendors?

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.

Product Insights and News

Abcam plc - The company offers multiplex assays such as FirePlex, FirePlex 96, and Antibody.
Abcam plc - Through the unified segment, the company produces, distributes, and sells antibodies and protein research tools.

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.

Multiplex Assays Market Value Chain Analysis

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.

Which are the Key Regions for Multiplex Assays Market?

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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.

What are the Revenue-generating Type Segments in the Multiplex Assays Market?

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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.

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What are the Key Data Covered in this Multiplex Assays Market Report?

CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will drive multiplex assays market growth during the next five years
Precise estimation of the multiplex assays market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the multiplex assays industry across North America, Europe, Asia, and Rest of World (ROW)
A thorough analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of multiplex assays market vendors

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Type

5.1 Market segments
- Exhibit 24: Chart on Type - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Type - Market share 2021-2026 (%)

5.2 Comparison by Type
- Exhibit 26: Chart on Comparison by Type
- Exhibit 27: Data Table on Comparison by Type

5.3 Protein multiplex assays - Market size and forecast 2021-2026
- Exhibit 28: Chart on Protein multiplex assays - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Protein multiplex assays - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Protein multiplex assays - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Protein multiplex assays - Year-over-year growth 2021-2026 (%)

5.4 Nucleic acid multiplex assays - Market size and forecast 2021-2026
- Exhibit 32: Chart on Nucleic acid multiplex assays - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Nucleic acid multiplex assays - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Nucleic acid multiplex assays - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Nucleic acid multiplex assays - Year-over-year growth 2021-2026 (%)

5.5 Cell-based multiplex assays - Market size and forecast 2021-2026
- Exhibit 36: Chart on Cell-based multiplex assays - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Cell-based multiplex assays - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Cell-based multiplex assays - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Cell-based multiplex assays - Year-over-year growth 2021-2026 (%)

5.6 Market opportunity by Type
- Exhibit 40: Market opportunity by Type ($ million)

6 Customer Landscape

6.1 Customer landscape overview
- Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation
- Exhibit 42: Chart on Market share by geography 2021-2026 (%)
- Exhibit 43: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison
- Exhibit 44: Chart on Geographic comparison
- Exhibit 45: Data Table on Geographic comparison

7.3 North America - Market size and forecast 2021-2026
- Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.4 Europe - Market size and forecast 2021-2026
- Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.5 Asia - Market size and forecast 2021-2026
- Exhibit 54: Chart on Asia - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on Asia - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on Asia - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on Asia - Year-over-year growth 2021-2026 (%)

7.6 Rest of World (ROW) - Market size and forecast 2021-2026
- Exhibit 58: Chart on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)

7.7 US - Market size and forecast 2021-2026
- Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)

7.8 Germany - Market size and forecast 2021-2026
- Exhibit 66: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on Germany - Year-over-year growth 2021-2026 (%)

7.9 UK - Market size and forecast 2021-2026
- Exhibit 70: Chart on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on UK - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on UK - Year-over-year growth 2021-2026 (%)

7.10 China - Market size and forecast 2021-2026
- Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)

7.11 Canada - Market size and forecast 2021-2026
- Exhibit 78: Chart on Canada - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on Canada - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on Canada - Year-over-year growth 2021-2026 (%)

7.12 Market opportunity by geography
- Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges
- Exhibit 83: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape
- Exhibit 84: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption
- Exhibit 85: Overview on factors of disruption

9.4 Industry risks
- Exhibit 86: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered
- Exhibit 87: Vendors covered

10.2 Market positioning of vendors
- Exhibit 88: Matrix on vendor position and classification

10.3 Abcam plc
- Exhibit 89: Abcam plc - Overview
- Exhibit 90: Abcam plc - Product / Service
- Exhibit 91: Abcam plc - Key news
- Exhibit 92: Abcam plc - Key offerings

10.4 Becton Dickinson and Co.
- Exhibit 93: Becton Dickinson and Co. - Overview
- Exhibit 94: Becton Dickinson and Co. - Business segments
- Exhibit 95: Becton Dickinson and Co. - Key news
- Exhibit 96: Becton Dickinson and Co. - Key offerings
- Exhibit 97: Becton Dickinson and Co. - Segment focus

10.5 Bio Rad Laboratories Inc.
- Exhibit 98: Bio Rad Laboratories Inc. - Overview
- Exhibit 99: Bio Rad Laboratories Inc. - Business segments
- Exhibit 100: Bio Rad Laboratories Inc. - Key news
- Exhibit 101: Bio Rad Laboratories Inc. - Key offerings
- Exhibit 102: Bio Rad Laboratories Inc. - Segment focus

10.6 Bio Techne Corp.
- Exhibit 103: Bio Techne Corp. - Overview
- Exhibit 104: Bio Techne Corp. - Business segments
- Exhibit 105: Bio Techne Corp. - Key news
- Exhibit 106: Bio Techne Corp. - Key offerings
- Exhibit 107: Bio Techne Corp. - Segment focus

10.7 DiaSorin SpA
- Exhibit 108: DiaSorin SpA - Overview
- Exhibit 109: DiaSorin SpA - Business segments
- Exhibit 110: DiaSorin SpA - Key news
- Exhibit 111: DiaSorin SpA - Key offerings
- Exhibit 112: DiaSorin SpA - Segment focus

10.8 Meso Scale Diagnostics LLC
- Exhibit 113: Meso Scale Diagnostics LLC - Overview
- Exhibit 114: Meso Scale Diagnostics LLC - Product / Service
- Exhibit 115: Meso Scale Diagnostics LLC - Key offerings

10.9 Promega Corp.
- Exhibit 116: Promega Corp. - Overview
- Exhibit 117: Promega Corp. - Product / Service
- Exhibit 118: Promega Corp. - Key offerings

10.10 QIAGEN NV
- Exhibit 119: QIAGEN NV - Overview
- Exhibit 120: QIAGEN NV - Product / Service
- Exhibit 121: QIAGEN NV - Key news
- Exhibit 122: QIAGEN NV - Key offerings

10.11 Seegene Inc.
- Exhibit 123: Seegene Inc. - Overview
- Exhibit 124: Seegene Inc. - Business segments
- Exhibit 125: Seegene Inc. - Key news
- Exhibit 126: Seegene Inc. - Key offerings
- Exhibit 127: Seegene Inc. - Segment focus

10.12 Thermo Fisher Scientific Inc.
- Exhibit 128: Thermo Fisher Scientific Inc. - Overview
- Exhibit 129: Thermo Fisher Scientific Inc. - Business segments
- Exhibit 130: Thermo Fisher Scientific Inc. - Key news
- Exhibit 131: Thermo Fisher Scientific Inc. - Key offerings
- Exhibit 132: Thermo Fisher Scientific Inc. - Segment focus

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist
- Exhibit 133: Inclusions checklist
- Exhibit 134: Exclusions checklist

11.3 Currency conversion rates for US$
- Exhibit 135: Currency conversion rates for US$

11.4 Research methodology
- Exhibit 136: Research methodology
- Exhibit 137: Validation techniques employed for market sizing
- Exhibit 138: Information sources

11.5 List of abbreviations
- Exhibit 139: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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