Multiplex Assays Market Key Opportunities, Strategic Assessment Forecast To 2022

Precision Business Insights published a research report on “Multiplex Assays Market By Product (Consumables, Instruments and Software Services), By Type (Protein & Nucleic Acid Assay), By Technology (Flow Cytometry, Fluorescence detection, Luminescence, Multiplex real-time PCR, Other technology), By Application (Research & development, Drug discovery & development, Biomarker discovery & validation, Clinical diagnostic), End User (Pharmaceutical and biotechnology companies, Hospitals, Research institutes, Clinical laboratories) and Geography - Global/Region/Country Forecast to 2028”.

The Multiplex Assay is a method of profiling many analytes (such as proteins, biomolecules, growth regulators, cytokines, chemokines, and so on) by simultaneously detecting and measuring them. When compared to traditional approaches like ELISA, this test is used to amplify many targets during a polymerase chain reaction (PCR) and capture more information from minute quantities of proteins and other such analytes in less time. Pathogen identification, mutation analysis, RNA identification, gene detection analysis, linkage assessment, forensic research, and other applications are all common uses for multiplex assays. In addition to this, Multiplex Assays are employed in clinical trials because they reduce research costs and manual labour while maximizing the productivity of experiments and medicines. Additionally, they are automated and provide easier and faster disease analysis, fueling the growth of the Multiplex Assay Market.

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The advantages of multiplex assays over singleplex assays, the increased incidences of infectious diseases and cancer that can be identified easily at an earlier stage, government and private funding for research, and strategic acquisitions among market players to expand the reach of multiplex assay kits are all contributing to the market's growth. Furthermore, the market is expected to be constrained by the high cost of instruments used to perform multiplex assays, the shortage of diagnostic kits, and the scarcity of competent labour.

On the basis of Product and Service, the market is divided into equipment and consumables. In terms of Type, the market is segregated into immunoassays and chromatography-MS. In terms of Class of Drug, the market is divided into antiepileptic drugs as well as antibiotic drugs, immunosuppressant drugs, antiarrhythmic drugs, bronchodilator drugs, psychoactive drugs, and other drugs. In terms of End User, the market is classified into commercial or private labs, hospital labs, and other. A large portion of the market is likely to come from hospital laboratories. The fact that the bulk of diagnostic tests are conducted in hospitals or hospital-affiliated laboratories, which require adequate technology and competent personnel to offer clinically useful interpretations from TDM assays, accounts for the substantial share of this market. Hospital laboratories are often more accessible and provide faster findings than reference laboratories.

North America, followed by Europe, is expected to account for the largest share of this market. The increasing per capita healthcare expenditure and, as a result, the existence of technically sophisticated healthcare infrastructure in the North American market are driving growth. Different government associations' initiatives are also expected to promote market expansion in the next years.

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Some of the major key players in the Multiplex Assays Market are Thermo Fisher Scientific Inc, Illumina Inc, Bio Rad Laboratories Inc, Qiagen, Abcam plc, BD

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