Multiplex Assays Market By Product And Service, Type, Technology, Application, End User And Global Forecast 2023-2032|Thermo Fisher Scientific, Inc., Luminex Corporation, Illumina, Inc., Bio-Rad Laboratories, Inc., QIAGEN N.V

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The Multiplex Assays Global Market Report 2023 by The Business Research Company, provides multiplex assays market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Multiplex Assays Global Market Report 2023, the market size is expected to grow from$3.27 billion in 2022 to $3.55 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The multiplex assays market size is expected to grow to $4.9 billion in 2027 at a CAGR of 8.4%.

An increased incidence of chronic diseases is driving the growth of the global multiplex assays market. Multiplex assay is extensively used in clinical trials to analyze and study the efficacy of a disease and for detection of antibodies against those diseases.

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The multiplex assays market is segmented:

1) By Type: Nucleic Acid-Based Multiplex Assays, Protein-Based Multiplex Assays, Other Types

2) By Technology: Flow Cytometry, Luminescence, Fluorescence Detection, Multiplex Real-Time PCR, Other Technologies

3) By Application: Research And Development, Drug Discovery And Development, Biomarker Discovery And Validation, Clinical Diagnostic

4) By End User: Pharmaceutical And Biotechnology Companies, Hospitals And Research Institutes, Reference Laboratories, Other End Users

Strategic partnerships and collaborations between companies in the industry are a trend gaining popularity in the multiplex assay market. Companies in the market are collaborating on developing assays that can detect diseases quickly and effectively. For instance, in 2020, China-based biotechnology company, Sino Biological, announced a co-development agreement with a US-based biotechnology company, Nanommune, to jointly develop COVID-19 antigen array products for serological studies of COVID-19 and other infectious diseases. The COVID-19 multiplex serological assay collaboration allows Sino Biological to make its recombinant COVID-19 antigens available on a microarray multiplex-based platform, which enables rapid profiling of antibodies interacting with these targets in biological samples.

The multiplex assays market report table of contents includes: