The multiplex assays market is valued at an estimated USD 3.5 billion in 2022 and is projected to reach USD 5.3 billion by 2027, at a CAGR of 8.8% during the forecast period. Growth in this market is mainly driven by factors such as increasing use of multiplex assays in companion diagnostics and increasing advantages over singleplex and traditional assays. 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 key players in multiplex assays market are Illumina, Inc. (US), Thermo Fisher Scientific, Inc. (US), Bio-Rad Laboratories, Inc. (US), Becton, Dickinson and Company (US), DiaSorin S.p.A. (Italy), QIAGEN N.V. (Netherlands), Abcam plc (UK), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Quanterix (US), Bio-Techne (US), MESO SCALE DIAGNOSTICS, LLC (US), Randox Laboratories Ltd. (UK), Olink (Sweden), Seegene Inc. (South Korea), Siemens Healthcare AG (Germany), PerkinElmer Inc. (US), Shimadzu Corporation (Japan), Promega Corporation (US), Enzo Biochem Inc. (US), Cayman Chemical (US), Boster Biological Technology (US), Antigenix America, Inc. (US), Quansys Biosciences Inc. (US), and RayBiotech Life, Inc. (US).
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In 2021, Illumina, Inc. held the leading position 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. With such developments and strategic efforts, the company is expected to witness growth during the forecast period.
Bio-Rad Laboratories, Inc. is a leading players in the multiplex assays market. Its leading position in this market can be attributed to its strong global sales and distribution network, enabling it to effectively market its products in various countries. The company has a wide geographical presence in the US, Singapore, China, the UK, Belgium, Switzerland, France, and Germany. The company has 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, including SARS-CoV-2 Droplet Digital PCR (ddPCR) test kit and SARS-CoV-2 Total Ab test in 2021. Such product launches have helped the company significantly expand its product line and enhance its multiplex assays market visibility.
Thermo Fisher Scientific, Inc. is a leading players in the multiplex assays market. The company has a strong geographic presence in over 600 locations across North America, Europe, 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.
Multiplex Assays Market by Product & Service (Consumables, Instruments, Software & Services), Type (Nucleic Acid, Protein), Technology (Flow Cytometry, Luminescence), Application (R&D, Diagnosis), End User (Pharma, Hospitals) - Global Forecast to 2027
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