DUBLIN–(BUSINESS WIRE)–The “Global Multiplex Assay Market Size, Share & Industry Trends Analysis Report By Product, By Type, By End user, By Application (Research & Development, Clinical Diagnostics & Others), By Regional Outlook and Forecast, 2021-2027” report has been added to ResearchAndMarkets.com’s offering.
The Global Multiplex Assay Market size is expected to reach $4 billion by 2027, rising at a market growth of 9.8% CAGR during the forecast period.
A multiplex assay is a process that detects and quantifies many analytes such as biomolecules, proteins, cytokines, growth factors, and chemokines at the same time. In comparison to traditional approaches like ELISA, this assay is used to amplify many objectives in a polymerase chain reaction (PCR) and capture more details from minute amounts of proteins or other analytes in less time. Pathogen identification, RNA detection, gene detection analysis, linkage analysis, mutation analysis, and forensic studies all use multiplex assays.
Running numerous tests means there may be little differences within every run, which could affect the results. Running a single experiment prevents this fluctuation from having a large impact, thus any differences in the protein found to be more likely to indicate genuine relative abundance within the sample. One such disease is sepsis, which is defined by a shift in the levels of pro-inflammatory cytokines.
Certain chemicals, some of which have been explored as possible medicinal medications, can also alter cytokine levels. As a result, having a system that can assess the levels of many cytokines at the same time is advantageous. Each bead had captured antibodies for the above cytokines and was differentiated by the ratio of dye added in a bead-based approach.
In addition, high-throughput multiplex detection techniques are used to evaluate a large number of analytes such asnucleic acid assays, immunoassays, enzyme assays, or receptor ligands, in a single biological sample in a fast, sensitive, and specific manner. These methods allow the analysis of a huge number of samples in one go.
COVID-19 Impact Analysis
The COVID-19 pandemic has wreaked havoc on healthcare workflows all around the world. Numerous industries, including plenty of sub-domains of health care, have been compelled to temporarily shut down their production facilities because of the disease. Since multiplex assays are used to diagnose coronaviruses, there has been a substantial demand for multiplex SARS-CoV-2 assays, such as multiplex point-of-care assays, which have helped the multiplex assay market grow during the pandemic. The link of COVID-19 with multiple hazardous disorders increased the utilization of multiplex assays across the market.
Market Growth Factors:
Increasing popularity of companion diagnostics
Companion diagnostics method is rapidly emerging and being utilized in therapeutics. A companion diagnostic is a diagnostic test that is used in conjunction with a therapeutic drug to determine whether the specific personalized medicine is appropriate for a particular person. Companion diagnostics assays can be conducted on a tissue biopsy or a blood sample utilizing various genomic or protein-based technologies such as next Generation Sequencing, qPCR, and Immunohistochemistry. In the case of cancer, a companion diagnostic test can determine whether a patient’s tumor has a specific genetic aberration, such as a mutation, or changed protein expression, that predicts better therapeutic medication efficacy.
Increasing adoption of multiple assays
There is an increased usage of multiplex assays in companion diagnostics, as well as their advantages over singleplex & classical assays is the result of the growing prevalence of chronic diseases. The advantage of multiplex assays over singleplex tests, which includes lower reaction tie, chemicals, and analyte concentration, allows for faster assay results and the handling of unusual samples (low concentration sample). The high frequency of infectious and chronic diseases creates greater market potential through increasing demand for multiplex assays.
Marketing Restraining Factor:
Rising equipment costs and stringent regulations and standards
Multiplex assays comprise the potential to bring a new evolution across the healthcare industry and can play a major role in the developments and enhancements in medications that are being utilized in the treatment of numerous diseases and disorders such as cancer and neurological diseases. However, the equipment that is employed in the utilization of multiplex assays is very costly. Due to the higher cost of the equipment, the researchers or healthcare institutes that comprise lesser financial power is expected to find it difficult to purchase and employ these products.
Market Segments Covered in the Report:
- Reagents & Consumables
- Instruments & Accessories
- Software & Services
- Protein Based Multiplex Assays
- Nucleic Acid-Based Multiplex Assay
By End User
- Pharmaceutical & Biotechnology Companies
- Research Institutes
- Clinical Laboratories
- Research & Development
- Clinical Diagnostics
- Companion Diagnostics
- North America
- Asia Pacific
Key Market Players
- Thermo Fisher Scientific, Inc.
- Bio-Rad Laboratories, Inc.
- Becton, Dickinson and Company
- Seegene, Inc.
- Randox Laboratories Limited
- Illumina, Inc.
- Qiagen N.V.
- DiaSorin S.p.A. (Luminex Corporation)
- Abcam plc
- Meso Scale Diagnostics LLC
For more information about this report visit https://www.researchandmarkets.com/r/2cvn6z
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