According to the latest report published by Acute Market Reports “Multiplexed Diagnostics Market - Growth, Future Prospects and Competitive Analysis, 2021-2029,” the global multiplexed diagnostics market was valued at US$ 11.58 Bn in 2020, and is expected to reach US$ 21.37 Bn by 2029, expanding at a CAGR of 9.4% from 2021 to 2029.
Browse the full report Multiplexed Diagnostics Market - Growth, Future Prospects and Competitive Analysis, 2021-2029 report at https://www.acutemarketreports.com/report/multiplexed-diagnostics-market
Market Insights
Multiplexed assays are capable of measuring multiple analytes in a single cycle of an assay. Multiplexed diagnostics are utilized in detection of different analytes and aid in the diagnosis of specific diseases including cancers, autoimmune disease, and cardiovascular disease. The number of analytes screened in single assay depends on the technology of the multiplex equipment and ranges from 5 to 10,000 analytes. Timely diagnosis of the infectious diseases can minimize the risk associated with it and aids in the proper treatment of the disease. Increased prevalence of cancers and other infectious diseases along with established advantages of multiplexed diagnostics are contributing to the surge of the market.
Increased funding in the field of personalized medicine and genomics, and emerging demand for advanced diagnostic technologies for cancers and other infectious diseases are driving the global multiplexed diagnostics market. Other factors leading to market escalation include increased rate of research in institutes and adoption of these techniques in pharmaceutical developments. However, lack of skilled technicians to operate these equipment and high costs are affecting the global multiplexed diagnostics market.
Based on product type, the global multiplexed diagnostics market is segmented into reagents & consumables, and analyzers. Reagents & consumables market is growing at a significant pace due to increased adoption in the diagnosis of the infectious diseases. Based on technology, the global multiplexed diagnostics market is segmented into low density multiplexed assays, medium density multiplexed assays, high density multiplexed assays, very high density multiplexed assays, and next-generation sequencing assays. Medium density multiplexed assays and high density multiplexed assays are expected to dominate the market due to high demand from pharmaceutical companies and institutes.
On the basis of applications, the global multiplexed diagnostics market is segmented into disease diagnostics, molecular diagnostics, and drug development. Disease diagnostics segment leads the market owing to the increased prevalence of cancers and other infectious diseases, and improving affordability of hospitals and clinical laboratories towards advanced diagnostics solutions.
Geographically, the global multiplexed diagnostics market is studied for different regions collective of North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. In terms of market size, North America dominates the global multiplexed diagnostics market and is anticipated to maintain its dominance during the forecast years. North America is followed by Europe due to better awareness and increased healthcare facilities, particularly in Eastern part of the continent. Market leaders in the global multiplexed diagnostics market include Agilent Technologies, BioMérieux SA, Bio-Rad Laboratories, F. Hoffmann-La Roche Ltd., Hologic, Inc., Illumina, Inc., Luminex Corporation, Siemens Healthineers, Abbott Laboratories, and Thermo Fisher Scientific, Inc.
