Wilmington, Delaware, United States, Sept. 20, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The multiplex detection immunoassays market was estimated to have acquired US$ 1.5 billion in 2019. It is anticipated to register a 7.5% CAGR from 2020 to 2030 and by 2030, the market is likely to gain US$ 3.6 billion.
The key element driving the market for multiplex detection immunoassays is the rising diseases globally. The increasing prevalence of chronic and infectious diseases worldwide, including cancer, autoimmune disorders, and cardiovascular diseases, drives the demand for multiplex detection immunoassays for accurate and simultaneous diagnosis.
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The demand for multiplex detection immunoassays is also being driven by diagnostic advancements: Multiplex immunoassays allow the detection of multiple biomarkers or analytes in a single test, offering greater diagnostic accuracy, efficiency, and cost-effectiveness compared to traditional singleplex assays.
The trend toward personalized medicine requires precise profiling of biomarkers to tailor treatments to individual patients, boosting the adoption of multiplex immunoassays in healthcare. Advances in biotechnology, such as the development of novel biomarkers and antibodies, contribute to the expansion of multiplex immunoassay applications.
The shift toward point-of-care testing for rapid and on-site diagnostics fosters the development of portable and multiplex immunoassay devices. Ongoing research in proteomics, genomics, and biomarker discovery fuels the demand for multiplex immunoassays in life sciences and pharmaceutical research.
Global Multiplex Detection Immunoassays Market: Key Players
Several dominant worldwide firms hold the majority of the market share in the multiplex detection immunoassays industry. The market's major companies are concentrating on diversifying their product lines.
The big players' primary strategy includes mergers and acquisitions. In order to acquire a competitive edge in the industry, market competitors are concentrating on offering high-quality services.
The following companies are well-known participants in the global multiplex detection immunoassays market:
- Hoffmann-La Roche Ltd
- QIAGEN
- Merck KGaA
- Microsynth AG
- Bio-Rad Laboratories
- Thermo Fisher Scientific
- Luminex Corporation
- Becton
- Dickinson and Company
Key developments in the global multiplex detection immunoassays market are:
- In 2023, Luminex Corporation launched a new multiplex detection immunoassay platform that offers increased throughput and flexibility.
- In 2023, Bio-Rad Laboratories received FDA approval for its new multiplex detection immunoassay assay for the detection of COVID-19.
- In the same year, Thermo Fisher Scientific expanded its portfolio of multiplex detection immunoassay products to include new assays for the detection of neurological disorders and cardiovascular diseases.
- In 2022, Qiagen developed a new multiplex detection immunoassay assay for the detection of SARS-CoV-2, the virus that causes COVID-19.
- In the same year, Abcam launched a new line of multiplex detection immunoassay kits for the detection of a variety of biomarkers, including cytokines, chemokines, and growth factors.
Key Findings of the Market Report
- Growing healthcare infrastructure and increasing awareness of advanced diagnostic techniques in emerging markets present significant growth opportunities for multiplex immunoassay providers.
- Collaborations between diagnostic companies, research institutions, and pharmaceutical firms drive innovation in multiplex immunoassay technologies and applications.
- Multiplex immunoassays enable real-time monitoring of treatment responses, offering opportunities for personalized treatment adjustments.
- The shift toward patient-centric healthcare models emphasizes the need for accurate and rapid diagnostics, favoring the adoption of multiplex immunoassays.
Market Trends for Multiplex Detection Immunoassays
- Multiplex immunoassays are increasingly used for early cancer detection by analyzing multiple cancer biomarkers, facilitating timely interventions and personalized treatments.
- Multiplex immunoassays aid in the diagnosis and monitoring of autoimmune diseases like rheumatoid arthritis, lupus, and multiple sclerosis, where multiple biomarkers are involved.
- The integration of multiplex immunoassays in companion diagnostics assists in predicting patient responses to specific therapies, optimizing treatment plans.
- Technological advancements have led to the miniaturization and portability of multiplex immunoassay devices, making them suitable for use in resource-limited settings.
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Market for Multiplex Detection Immunoassays: Regional Outlook
Various reasons are propelling the growth of the multiplex detection immunoassays market in different countries. These are:
North America
- North America faces a significant disease burden, including chronic diseases, infectious diseases, and cancer. Multiplex immunoassays offer efficient diagnostic solutions for early disease detection and management.
- North America boasts advanced healthcare infrastructure, including state-of-the-art laboratories and research facilities, which facilitates the adoption of cutting-edge diagnostic technologies like multiplex immunoassays.
- The region is a hub for biomedical research and pharmaceutical development. Substantial investments in research and development drive innovations in immunoassay technologies, enhancing their accuracy and capabilities.
Asia Pacific
- The increasing incidence of cancer in countries such as India and China fuels demand for multiplex immunoassays for cancer screening, diagnosis, and monitoring.
- The pharmaceutical and biotechnology sectors in Asia Pacific are expanding rapidly. Multiplex immunoassays are integral to drug development, pharmacokinetics, and biomarker discovery in these industries.
- Government initiatives aimed at improving healthcare infrastructure and diagnostic capabilities drive the adoption of advanced diagnostic technologies, including multiplex immunoassays.
Global Multiplex Detection Immunoassays Market Segmentation
Assay Type
- Planar Assay
- Blends Protein Arrays (multiplexed ELISA)
- Antibody Arrays
- Bead-based Assay
- Magnetic Bead-based
- Non-magnetic Bead-based
Technique
- Nucleic Acid-based Techniques
- Protein-based Techniques
- Biosensor-based Techniques
Application
- Disease Testing
- Infectious Disease Testing
- Autoimmune Disease Testing
- Other Diseases Testing
- Food Contamination Testing
- Research & Development
- Veterinary Disease Testing
End User
- Pharmaceutical & Biopharmaceutical Companies
- Clinical Research Organizations
- Food & Beverages Industry
- Academic & Research Institutes
- Diagnostic Centers
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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