Multiplex Detection Immunoassays Market: Introduction
According to the report, the global multiplex detection immunoassays market was valued at ~US$ 1.5 Bn in 2019 and is projected to expand at a CAGR of 7.5% from 2024 to 2030. Multiplex immunoassays provide sufficient analytical performance to evaluate serum biomarkers that complement each other in the detection of a larger number of patient samples. The use of differentially detectable beads of different regions enables simultaneous identification and quantification of multiple analytes in the same sample allowing the individual immunoassays to be multiplexed.
In terms of assay type, the global multiplex detection immunoassays market has been bifurcated into planar assay and bead-based assay. The planar assay segment has been split into blends protein arrays (multiplexed ELISA) and antibody arrays. The bead-based assay sub-segment has been segregated into magnetic bead-based and non-magnetic bead-based. The planar assay segment accounted for prominent share of the global multiplex detection immunoassays market in 2019. The segment is anticipated to expand at a high CAGR during the forecast period, owing to rise in the need and demand for diagnosis by patients.
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Based on technique, the global multiplex detection immunoassays market has been divided into nucleic acid-based techniques, protein-based techniques, and biosensor-based techniques. The protein-based techniques segment held a significant share of the global multiplex detection immunoassays market in 2019. In terms of application, the global multiplex detection immunoassays market has been classified into disease testing, food contamination testing, research & development, and veterinary disease testing. The research & development segment accounted for major share of the global multiplex detection immunoassays market in 2019.
Based on end user, the global multiplex detection immunoassays market has been categorized into pharmaceutical & biopharmaceutical companies, clinical research organizations, food & beverage industry, academic & research institutes, diagnostic centers, and others. The pharmaceutical & biopharmaceutical companies segment held significant share of the global multiplex detection immunoassays market in 2019.
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Multiplex Detection Immunoassays Market: Prominent Countries
North America held a major share of the global multiplex detection immunoassays market in 2019. Highly structured healthcare industry, presence of key players, and growth strategies adopted by these players are the major factors driving the multiplex detection immunoassays market in the region. Rise in awareness about benefits of procedures and increase in healthcare expenditure propel the multiplex detection immunoassays market in North America.
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Asia Pacific held the second largest share of the global multiplex detection immunoassays market in 2019. The multiplex detection immunoassays market in Asia Pacific is driven by the rise in prevalence of chronic diseases and a well-developed healthcare sector. The multiplex detection immunoassays market in Asia Pacific is likely to grow at a rapid pace during the forecast period. Increase in product approvals, rise in prevalence of cardiovascular diseases, and surge in awareness leading to routine checkups and diagnosis are the major factors projected to augment the multiplex detection immunoassays market in Asia Pacific.
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Multiplex Detection Immunoassays Market: Key Players
Leading players are expanding their footprint to consolidate their position in the global multiplex detection immunoassays market. Gradual increase in surgical procedures, which include ligation devices, offers lucrative opportunities to key players to increase their share in the global multiplex detection immunoassays market. Hence, manufacturers engage in new product development, collaborations, and distribution to gain market share. Leading players operating in the global multiplex detection immunoassays market include Hoffmann-La Roche Ltd., QIAGEN, Merck KGaA, Microsynth AG, Bio-Rad Laboratories, Thermo Fisher Scientific, Luminex Corporation, and Becton, Dickinson and Company.
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