Multiplexed Diagnostics Market by End-user and Geography - Forecast and Analysis 2020-2024

The multiplexed diagnostics market size has the potential to grow by USD 9.35 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by end-user (pharmaceutical and biotechnology companies, healthcare centers, and academic institutes and CROs) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Agilent Technologies Inc., Becton, Dickinson and Co., bioMerieux SA, Bio-Rad Laboratories Inc., Illumina Inc., Merck KGaA, QIAGEN NV, F. Hoffmann-La Roche Ltd., Siemens AG, and Thermo Fisher Scientific Inc.

Market Overview

Market Competitive Analysis

The market is fragmented with the presence of many players. The vendors are opting for inorganic growth strategies such as mergers and acquisitions and other strategic partnerships to expand their market foothold. Merck KGaA, QIAGEN NV, F. Hoffmann-La Roche Ltd., Siemens AG, and Thermo Fisher Scientific Inc. are some of the major market participants. Although the prevalence of chronic and infectious diseases will offer immense growth opportunities, the high cost of multiplexed diagnostic systems will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this multiplexed diagnostics market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this multiplexed diagnostics market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• Agilent Technologies Inc.
• Becton, Dickinson and Co.
• bioMerieux SA
• Bio-Rad Laboratories Inc.
• Illumina Inc.
• Merck KGaA
• QIAGEN NV
• F. Hoffmann-La Roche Ltd.
• Siemens AG
• Thermo Fisher Scientific Inc.

Multiplexed Diagnostics Market: Segmentation by Region

North America was the largest market for multiplexed diagnostics in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The rising prevalence of chronic infections and diseases, the presence of established healthcare centers, and the growing demand for advanced and high-density multiplexed assay technologies will significantly influence multiplexed diagnostics market growth in this region.

About 31% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for multiplexed diagnostics in North America. Market growth in this region will be slower than the growth of the market in Europe and APAC.

Multiplexed Diagnostics Market: Segmentation by End-user

The increased R&D spending from pharmaceutical and biotechnology companies to adopt advanced technologies, such as multiplexing technologies, for drug discovery and development, is driving the multiplexed diagnostics market growth.

The growth rate of the multiplexed diagnostics market share of the pharmaceutical and biotechnology companies will be slower than the growth of the market by the other segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the multiplexed diagnostics market size.

Multiplexed Diagnostics Market: Key Drivers and Trends

Multiplexed diagnostics market growth is expected to accelerate over the next five years, driven by the high prevalence of chronic and infectious diseases across the globe. North America will drive around 31% of the growth for the global multiplexed diagnostics market, while Europe, MEA, and APAC are also predicted to contribute significantly to the incremental growth. The need for timely diagnosis for healthcare providers and public health practitioners to provide the appropriate treatment is likely to augment the growth of the global multiplexed diagnostics market. Also, factors such as sedentary lifestyle and sub-optimal diagnostic facilities in developing countries are increasing the incidences of chronic diseases, which is expected to fuel the demand for multiplexed diagnostics over the next five years. The multiplexed diagnostics market will register a CAGR of over 15% during 2020-2024.

Multiplexed Diagnostics Market: Key Highlights of the Report for the Forecast Period 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive multiplexed diagnostics market growth during the next five years
• Precise estimation of the multiplexed diagnostics market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the multiplexed diagnostics market industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of multiplexed diagnostics market vendors