The Multiplex Assays Market is projected to reach USD 4.3 billion by 2026 from USD 3.0 billion in 2021, at a CAGR of 7.6% during the forecast period. Market growth is mainly driven by factors such as increasing adoption of companion diagnostics, the increasing incidence of chronic and infectious diseases, the growing awareness of the disease diagnosis, and the need for effective analytical platforms in research and clinical diagnostics to reduce the operational costs and the time taken for diagnosis. However, the high cost of multiplex assay equipment, stringent regulations and standards, and issues in the standardization of multiplex assays design are the major factors restraining the growth of this market. The Multiplex Assays Market is segmented based on product & service, type, technology, application, end user, and region.
The global Multiplex Assays Market is highly consolidated. The prominent players operating in this market include Illumina, Inc. (US), Luminex Corporation (US), Bio-Rad Laboratories, Inc. (US), Thermo Fisher Scientific Inc. (US), and Becton, Dickinson and Company (US).
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Illumina, Inc. (US) is one of the leading players in the Multiplex Assays Market. The company has a strong geographic presence across the US, Europe, Greater China, and the Asia Pacific. The company focuses on offering consumables and analyzers in the multiplex assays market. Illumina concentrates on inorganic strategies to maintain its leadership position in this market. The company has signed several collaborations and partnerships with other companies/organizations, which are expected to strengthen the foothold of the company in the domain of next-generation sequencing (NGS) and multiplex sequencing.
Luminex Corporation (US) is one of the leading players in the Multiplex Assays Market. Luminex focuses on product launches and developments to enhance its position in the market. The company has the EUA by the US FDA for multiplex COVID-19 assays.
Bio-Rad Laboratories, Inc. (US) is one of the leading players in the Multiplex Assays Market. The company has a wide geographical presence in the US, Singapore, China, the UK, Belgium, Switzerland, France, and Germany. The company has a strong R&D and manufacturing in the area of specialty chemicals and clinical diagnostics. The company has received the EUA from the US FDA for several COVID-19 multiplex assays.
Thermo Fisher Scientific Inc. (US) is one of the leading players in the Multiplex Assays Market. The company has a strong geographic presence in over 600 locations across North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. With a strong focus on R&D and competitive technologies, Thermo Fisher continuously strives for innovation. Thermo Fisher has adopted inorganic strategies, such as collaborations and acquisitions, to achieve growth in the multiplex assays market. In February 2021, Thermo Fisher acquired Mesa Biotech, Inc., a privately held point-of-care molecular diagnostic company, and Advanced Bioprocessing business from Becton, Dickinson and Company. These acquisitions have enabled the company to strengthen its position in the multiplex assays market.
Becton, Dickinson and Company (US) is one of the leading players in the Multiplex Assays Market. The company offers a significant number of products and consistently backs product launches with technological innovation. The company is focused on innovative and user-friendly software solutions on flow cytometry, which has helped the company to maintain its dominant position in the market. The company has a strong presence in the US, which alone holds 50% of its geographic business revenue. The company has launched and earned approval for various of its products in the past 3 years.
Multiplex Assays Market by product (Consumables, Instruments, Software & Services), Type (Nucleic Acid, Protein, Cell), Technology (Flow Cytometry, Luminescence, Application (R&D, Diagnosis), End User (Pharma & Biotech, Hospital) - Global Forecast to 2026
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