HOME Research Insight Product Launches and Approvals are the Key Growth Strategies Adopted by Market Players in the Multiplex Assays Market



Product Launches and Approvals are the Key Growth Strategies Adopted by Market Players in the Multiplex Assays Market


The major players operating in the global multiplex assays market are Illumina (US), Luminex (US), Thermo Fisher (US), Bio-Rad Laboratories (US), and Becton, Dickinson (US). The global multiplex assays market is projected to reach USD 3.35 Billion in 2023 from USD 2.33 Billion in 2018, at a CAGR of 7.5%. The use of multiplex assays in companion diagnostics for increasing the safety & efficacy of therapies and the advantages of multiplex assays over conventional singleplex assays are driving the growth of the market.

Most companies focus on agreements, collaborations, and partnerships to compete in the market. The players also focus on increasing their presence in high-growth markets through acquisitions and product launches. Illumina (US), Luminex (US), and Bio-Rad Laboratories (US) focus on product launches, partnerships, and agreements to strengthen their position in the market.

In 2017, Illumina was the leading player in the multiplex assays market. The company has a strong geographic presence across the US, Europe, Greater China, and Asia Pacific. The company focuses on offering consumables and analyzers in the multiplex assays market. Illumina concentrates on inorganic strategies to maintain its leader position in this market. For instance, in 2017, the company partnered with Integrated DNA Technologies (US) to provide improved library preparation multiplexing and target enrichment solutions for the next-generation sequencing (NGS) market. The agreement will see IDT and Illumina leveraging their expertise in the genomics field to deliver enhanced tools for sequencing. Similarly, in 2015, the company acquired GenoLogics Life Science Software Inc. (Canada) to integrate their life science software as part of the overall Illumina informatics solution.

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Luminex Corporation held the second position in the multiplex assays market in 2017. The company offers a wide range of multiplex assays, analyzers, and software in the market. Luminex focuses on product launches and development to enhance its position in the market. For instance, in 2017, the company launched a range of assays based on the ARIES platform, including the Group A Strep Assay, the ARIES C. difficile Assay, and the ARIES Norovirus Assay. Similarly, the company adopted inorganic strategies, such as collaborations and acquisitions to further garner a larger market share. For instance, in 2017, Luminex collaborated with Sutter Health (US) to help advance patient care by improving Sutter Healths ability to quickly and accurately diagnose a range of conditions, including Cystic Fibrosis, gastrointestinal illness, and respiratory tract infections.

Some other leading players in the global multiplex assays market are Thermo Fisher (US), Bio-Rad Laboratories (US), and Becton, Dickinson and Company (US). These companies focus on product launches, agreements, collaborations, and partnerships to maintain their strong position in the market in the coming years.

Related Reports:

Multiplex Assays Market by Product (Consumables, Instruments), Type (Nucleic Acid, Protein, Cell), Technology (Flow Cytometry, Luminescence), Application (R&D, Diagnosis), End User (Pharma & Biotech, Reference Laboratory, Hospital) - Global Forecast to 2023

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