Global Multiplexed Diagnostics Market expected to reach a value of US$ 26.36 Billion by 2024: Transparency Market Research

Multiplexed diagnostics is a process which enables to analyze and detect several assays in parallel. Time & money can be significantly saved by combination of various tests. Diagnostic assays are tests used to assess target analytes, quantitatively or qualitatively, in biochemical substances, cells of an organism, or an organic sample for disease diagnosis. The technologies used in multiplexing are based on the principle of screening of multiple analytes in single cycle of the assay. Typical multiplexed assays include DNA arrays, genotyping, protein arrays, and various multiplexed immunoassays, such as ELISAs.

The global Multiplexed Diagnostics Market was valued at US$ 5.0 Bn in 2015 and is estimated to reach US$ 26.36 Bn by 2024 at a CAGR of 20% from 2016 to 2024.

Rise in private and public funding for genomics and personalized medicine, increasing demand for advanced diagnostic technology for accurate diagnosis of life-threatening diseases are some of the drivers responsible for the growth of global multiplexed diagnostics market. While high cost associated with multiplexed diagnostics assay & lack of skilled labor for handling advanced multiplexed diagnostic equipment are the restraining factors. The trends in the global multiplexed diagnostics market include extensive R&D to expand existing multiplexed diagnostics application, development of generic platforms for multiplexed diagnostics products, and increased use of multiplexed diagnostics in academic and research institutes.

The global multiplexed diagnostics market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. These are further categorized into various countries under each region. North America accounted for the largest share of the global multiplexed diagnostics market in 2015, due to adoption of new technologies such as next generation sequencing along with higher awareness, significant health care spending in overall national budgets, early availability of advanced technologies, and higher penetration of research activities across the country. The region is projected to continue to dominate the global multiplexed diagnostics market by 2024, which is attributed to early availability of advanced technologies and higher penetration of health care services across the country. Europe is expected to hold higher share in the Global multiplexed diagnostics market due to high health care expenditures in developed countries of Europe coupled with less stringent regulatory approval processes as compared to North America. North America and Europe are projected to be the most lucrative markets for multiplexed diagnostics. The Latin America, Asia Pacific, and Middle East & Africa are relatively smaller markets, while the market of Asia Pacific is estimated to register fastest CAGR during the forecast period, which is attributed to improving health care infrastructure and rising private and public investment in the region.

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The major players in the Global Multiplexed diagnostics market are Agilent Technologies, BioMérieux SA, Bio-Rad Laboratories, Inc., Illumina, Inc., F. Hoffmann-La Roche Ltd., Hologic, Inc., Luminex Corporation, Siemens Healthineers, Thermo Fisher Scientific, Inc., and Abbott Laboratories.

The global multiplexed diagnostics market has been segmented as given below:

Global Multiplexed Diagnostics Market, by Technology,

  • Very High Density Multiplexed Assays (> 10,000-plex)
  • High Density Multiplexed Assays (500 ≤ plex ≤ 10,000)
  • Medium Density Multiplexed Assays (plex < 500)
  • Low Density Multiplexed Assays (plex ≤ 5)
  • Next Generation Sequencing Assays 

Global Multiplexed Diagnostics Market, by Application

  • Infectious Disease Diagnostic
  • Oncology
  • Autoimmune Diseases
  • Cardiac Diseases
  • Allergies
  • Others (pregnancy & fertility testing, etc.) 

Global Multiplexed Diagnostics Market, by End-user

  • Academic Research Institutes
  • Hospital
  • Pharmaceutical Companies
  • Clinical Research Organizations
  • Diagnostic Laboratories

 

Global Multiplexed Diagnostics Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • India
    • China
    • Japan
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of Middle East & Africa

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