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Multiplex Assay Market Regulations and Competitive Landscape Outlook to 2027

11-08-2018 12:17 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Multiplex Assay Market Regulations and Competitive Landscape

An assay which simultaneously measures multiple analytes in a single cycle of the assay is known as a multiplex assay. Within a given application area of technology, multiplex assays can further stratify the analytes which are measured per assay. The term multiplex refers to the highest number of analyte measurement per assay. Detection of the state of all biomolecules of a given class (i.e. proteins and mRNAs) within a biological sample is the function of multiples assays in functional genomics where they are widely used to determine the effect of an experimental treatment. Multiplex assays are of two types namely, planar assay and bead-based assay. Planar microarrays, such as protein microarrays are characterised by ligands immobilised onto the plane surface in microspots onto a two-dimensional grid. Some of the commercially available planar microarrays are ImmunoCAPR ISAC. Bead-based assays also called as suspension or liquid array ligands are immobilised onto a microsphere called bead and captured analytes are detected using flow cytometric methods. Some of the examples of bead-based assay products are QUANTA Plex. Some of the multiplex techniques are DNA microarray, SAGE, multiplex PCR, and DNA sequencing by ligation.

Global Multiplex Assay Market: Drivers

Technological advancement is one of the driving factors for the global multiplex assay market. The rapid development of nanosciences has taken this to next level of nanoarray, which represents a ultra-miniaturized version of the conventional microarray. Development of highly dense nanoarray technology has made the drug screening process more rapid and time effective. Increasing awareness about multifactorial nature of various diseases and pathological conditions such as cancer and Alzheimer’s disease etc. created a requirement for simultaneous, cost-effective and time-saving measurement of multiple analytes in a single sample. This particular factor is creating a positive impact on global multiplex assay market. Research and development in life sciences are prominently dependent on government funding and research grants. Formation of policies and provision of subsidy by various governments encourages research and development activities in global multiplex assay market, which ultimately creates robust growth in global multiplex assay market. Implementation of biomarkers in drug development is capital and time intensive. In many complex diseases, analysis of changes in multiple biomarkers is necessary to understand the effect of a drug. In this aspect, multiplex assays provide the solution to various challenges such as increased workload due to multiple collections and cost of detection which is boosting the growth of the overall market.

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Global Multiplex Assay Market: Restraints

Multiplex assays cannot be used off-the-shelf for any new application and must be optimised to demonstrate safety and performance before being applied to any clinical sample. This requires considerable time and initial investment. Thus the development of the multiplex assay for clinical use is a cumbersome process that involves feasibility study to produce an assay with optimised parameters for every component analyte on the panel and evaluation of test system suitability. This factor is hampering the development of the global multiplex assay market. Apart from this, reproducibility crisis and complex clinical trial procedures for multiplex assay products are limiting the growth of the global market. The non-magnetic multiplex assay is more laborious to run which hindrances the growth of the global multiplex assay market.

Global Multiplex Assay Market: Key Regions

North America will continue to dominate the global market partly due to high research and development capability. While life science research and development activities in several ASEAN countries such as Malaysia would drive the growth of APAC multiplex assay market. Latin America multiplex assay market is expected to expand at below average CAGR owing to low penetration of multiplexing technology in the region.

Global Multiplex Assay Market: Key Market Players

QIAGEN N.V, Thermo Fisher Scientific, Inc., Luminex Corporation, Bio-Rad Laboratories, Inc and Illumina, Inc. are some of the key market players globally.

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Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.

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