Europe Multiplex Detection Immunoassay Market 2021-2028 Is Booming Worldwide with Comprehensive Study Explores Huge Revenue Scope in Future

Europe Multiplex Detection Immunoassay Market was valued at US$ 0.78 Bn in 2020, estimated to reach US$ 1.35 Bn in 2027 with a CAGR of 7.10% from 2021-2028.

Multiplex Detection immunoassay is defined as a procedure in which various analytes are profiled by detecting and quantifying them simultaneously. These assays are used to amplify multiple targets in a PCR (polymerase chain reaction) and collect more information from minute quantities of proteins or other analytes in lesser time as compared to conventional methods.

Market Drivers: Rise in the occurrence of chronic diseases will boost the growth of the market
Multiplex assays assist the detection of multiple analytes in a single cycle of the test. Multiplex assays are being applied in different fields of life science, such as in functional genomics to detect the different types of biomolecules, such as proteins, and DNA simultaneously.

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In parallel to conventional assays, the multiplex techniques require a small amount of analytes and enable significant savings in costs and lab time. Fully automated multiplex immunoassays are increasingly used as first line screening for antinuclear antibodies. Various diseases both in humans and animals deploy multiplex immunoassay kits for its detection.

Multi-disciplinary nature of several diseases and pathological conditions such as cancer and Alzheimer’s disease, among others created a need for cost-effective, simultaneous, and time saving measurement of multiple analytes in a single sample. Increase in the rise of geriatric-related diseases in Europe have led to the growth of the immunoassay market. There is an increase in the spending of R&D activities in the pharmaceutical segment related to immunoassay analysis testing in the region. These factors have contributed to the growth of multiplex immunoassay market in Europe.

Market Challenges: High production cost might limit the growth of the market

There are several instances of reproducibility crisis and complex clinical trial procedures for multiplex assay products identified in the region. Moreover, the need for a validated antibody pair and specialized equipment are the disadvantages of using a multiplex assay technology. A multiplex system may also require higher initial investment compared with singleplex devices.
Additionally, most immunoassay techniques require incubation on a shaker. This techniques also involve heating and mixing at different temperatures and at varying amounts of time. It includes the involvement of incubators, stopwatches, mixers and shakers, and a variety of other tools can be cumbersome and time-consuming. All these factors attribute to the limitations in the growth of multiplex detection Immunoassay market in the region.

Market Opportunities: Increasing Validation of Biomarkers in Molecular and Protein Diagnostics

Enhanced biomarkers are instantly needed to improve diagnosis, guide molecularly aimed therapy and observe activity and healing response across a wide spectrum of disease. There are a plethora of technologies and methodologies that have been applied to study and discover biomarkers including: mass spectrometry, proteomic and epigenetic methods. High-throughput omics technologies allow thousands of individual molecules to be investigated, enabling the identification of molecular markers for certain diseases.

These biomarkers thus, are widely used for the diagnostics purposes for various diseases which employ assay techniques specifically the multiplex detection techniques in order to detect the diseases and other various types of techniques. Moreover, approval by regulatory agencies such as the FDA and EMEA of diagnostic tests based on the validated biomarker should always be at the forefront when making decisions. These factors are thereby acting as a growth opportunity for the Europe multiplex detection immunoassay market.

Impact of COVID-19 on the Europe Multiplex Detection Immunoassay Market

The market is positively impacted by the spread of the pandemic as the multiplex immunoassay kits are used for the testing of COVID-19 virus spread amongst the suspects.

Europe Multiplex Detection Immunoassay Market by Assay

Based on assay methods category, the Europe Multiplex Detection Immunoassay systems market is segmented into planar assay and bead based assays.

Europe Multiplex Detection Immunoassay Market by Application

The Multiplex Detection Immunoassay application market is categorized into four segments, namely, disease testing, food contamination testing, research & development and veterinary disease testing.

Europe Multiplex Detection Immunoassay Market by Technique

On the basis of technique, the market is segmented into nucleic acid-based technique, protein-based technique and biosensor-based technique.

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Europe Multiplex Detection Immunoassay Market
by End user

Based on the end user, the market is segmented into pharmaceutical companies, clinical research organizations, food & beverage companies, academic research institutes, diagnostic centers and biotechnology companies.

Europe Multiplex Detection Immunoassay Market by Country

Europe Multiplex Detection Immunoassay Market by Country is studied considering following major countries: Germany, The U.K., Italy, France, Sweden, Spain, Turkey, Switzerland, Denmark, Norway, Finland, Iceland, Poland, Luxembourg, Netherlands and Belgium.

Germany, The U.K, France, Italy are the prime countries in the Multiplex Detection Immunoassay market. The market is witnessing an increase in investments from government agencies and private organizations to finance the R & D activities in small companies striving to advance their research in the diagnosis of the various chronic and geriatric diseases in the region.

Key Players

Various key players are listed in this report such as Bio-Rad Laboratories Inc., Thermo Fisher Scientific, EMD Millipore (Merck KGaA), Becton, Dickinson and Company, Qiagen N.V., Quansys Biosciences Inc, Luminex Corporation, F. Hoffmann-La Roche Ltd., Danaher Corporation, etc.

Competitive Landscape:

• The Europe Multiplex Detection Immunoassay market is moderately fragmented due to the presence of large number of regional and international players. It has also been observed that several large players are losing their market share owing to the competition posed by new entrants
• The figure Competition analysis of key vendors operating in Multiplex Detection Immunoassay market based on below parameters:
• New Product Launch
• Collaboration/Partnership
• Product Approval
•
Recent Developments:

In March 2020: Bio-Rad Laboratories Inc. aims to expand its business in market through partnership In March 2020, the company has partnered with Testing Labs across the world including Assurance Scientific Laboratories, Birmingham, Alabama to support COVID- 19 Testing.

In July 2020: Becton, Dickinson and Company had launched Portable, Rapid Point-of-Care Antigen Test known as BD Veritor System which used to Detect SARS-CoV-2. This assay gives results in 15 minutes on an easy-to-use, highly portable instrument is critical for improving access to COVID-19 diagnostics because it allows real-time results & decision making while the patient is still onsite.

Market Taxonomy

By Assay

• Planar assay
• Bead based assays

By Application

• Disease Testing
• Food Contamination Testing
• Research & Development
• Veterinary Disease Testing

By Technique

• Protein-Based Technique
• Biosensor-Based Technique

By End User

• Pharmaceutical Companies
• Clinical Research Organizations
• Food & Beverage Companies
• Academic Research Institutes
• Diagnostic Centers
• Biotechnology Companies

By Country

• Germany
• UK
• France
• Turkey
• Switzerland
• Norway
• Sweden
• Spain
• Italy
• Denmark
• Finland
• Iceland
• Poland
• Luxembourg
• Netherlands
• Belgium

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Vishal Thakur
Research Support Specialist
QualiKet Research
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This release was published on openPR.