Multiplex assay is diagnostic test that allows detection and quantification of multiple analytes in a single reaction volume. Multiplex assays allow simultaneous detection of various biomarkers related to a disease from a single patient sample. This significantly reduces time and cost of diagnosis as compared to traditional single-analyte ELISA tests. Growing burden of infectious diseases and chronic conditions such as cancer, cardiovascular diseases has increased demand for rapid and efficient diagnostic tests. This demand is being effectively addressed by multiplex assays.

The global multiplex assay market size is expected to reach US$ 4.40 Bn by 2031, from US$ 1.69 Bn in 2024, at a CAGR of 14.6% during the forecast period.

Key Takeaways

Key players operating in the Global Multiplex Assay Market are Luminex Corporation, Thermo Fisher Scientific, Inc., Illumina, Inc., Bio-Rad Laboratories, Inc., Qiagen, Abcam Plc., Becton, Dickinson and Company, Merck KGaA, Agilent Technologies, MESO SCALE DIAGNOSTICS, LLC., Randox Laboratories Ltd., Seegene Inc, Perkin Elmer Inc., R&D Systems, Inc., and Advanced Cell Diagnostics, Inc. These key players are focusing on new product launch and mergers & acquisitions to expand their market share.
The key opportunities in the multiplex assay market comprises growing need for companion diagnostics driven by increase in targeted therapy options and rise in funding for research activities.

The The Global Multiplex Assay Market market is anticipated to witness significant growth in Asia Pacific region. Factors such as rising geriatric population, increasing healthcare expenditure, growing biomedical industry and government support for development of healthcare infrastructure is fueling multiplex assay adoption in Asia Pacific countries.

Market Drivers:

The major driver for the global The Global Multiplex Assay Market Size And Trend market is the rising demand for rapid and early diagnosis of infectious diseases and various chronic disorders. Traditional single-analyte diagnostic tests are time consuming as they require running multiple individual tests for detecting different biomarkers. In contrast, multiplex assays offer significant time savings as they can detect multiple biomarkers simultaneously in a single reaction. This features meets the current need of diagnosing and/or monitoring diseases in a timely and cost-effective manner.

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