Multiplexed Diagnostic Market Market 2019 | Industry In-depth Analysis by Players Luminex Corporation, Thermo Fisher, Illumine Inc., Bio-Rad Laboratories, Inc., Qiagen N.V., Abbott Laboratories, Siemens Healthineers, Agilent technologies, BioMerieux SA, a

According to the Centers for Disease Control and Prevention (CDC), the prevalence of arthritis from 2013 to 2015, was estimated in 54 million U.S adults (22.7%) and by 2040, it is expected to be 78 million (26%) U.S adults age 18 years or older. The data represent the high prevalence of autoimmune diseases, indicating the need of advance diagnostic measures, which is expected to boost the growth of the multiplexed diagnostic market.

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Furthermore, introduction of technological advancement of multiplexed diagnostics is a major factor contributing to the market growth. For instance, IQuity launched RNA-based diagnostic test based on RT-PCR assay approved by U.S. Food and Drug Administration (FDA) in May 2017. RNA-based diagnostic test is used for detection of multiple sclerosis, which provides accuracy by 90%. However, the high cost of diagnostic procedures is a major restraining factor for the multiplexed diagnostic market.

Multiplexed assay provides higher throughput and accuracy with the minimum time interval by cutting down the hands-on efforts to execute the assay. Global healthcare company, Thermo Fisher has completed its US$ 7.2 billion acquisition with Contract Development and Manufacturing Organization (CDMO) Patheon in 2017. This alliance has intended portfolio in clinical trial services and bio-production technology.

Furthermore, according to the American Cancer Society, approximately 1,685,210 new cases of cancer were diagnosed in 2016. According to the World Cancer Research Fund International (WCRFI), 2012, approximately, 14.1 million cancer cases were estimated worldwide, out of which around 7.4 were men and 6.6 million were female. According to the World Cancer Research Fund International (WCRFI), by 2035 around 24 million cancer cases is expected globally. Rising incidence and prevalence of chronic diseases, is expected to fuel the growth of the multiplexed diagnostic market.

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Some of the key players involved in global multiplexed diagnostic market are Luminex Corporation, Thermo Fisher, Illumine Inc., Bio-Rad Laboratories, Inc., Qiagen N.V., Abbott Laboratories, Siemens Healthineers, Agilent technologies, BioMerieux SA, and F.Hoffmann-La Roche Ltd.

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