The Global Multiplex Assay Market Assessed to Reap $7933.87 Million in Revenue by 2028

A recent study by Triton Market Research titled 'Global Multiplex Assay Market' comprises the Global Analysis and Forecasts by Product and Service (Software and Services, Reagents and Consumables, Instruments and Accessories), Industry Verticals (Research Institutes, Hospitals, Pharmaceutical & Biotechnology Companies, Clinical Laboratories), Application (Companion Diagnostics, Research and Development, Clinical Diagnostics), Technology (Multiplex PCR, Multiplex Protein Microarray, Other Technologies), Type (Nucleic Acid-Based Multiplex Assay, Protein-Based Multiplex Assay, Other Multiplex Assay Types), and by Geography (Europe, North America, Latin America, Middle East and Africa, Asia-Pacific).

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Triton's report predicts the global multiplex assay market to surge based on revenue at a CAGR of 8.67% during the period 2021-2028. It is further estimated to attain revenue at $7933.87 million by 2028.

Multiplex assays are employed in clinical trials as they can lower research costs, along with increasing the efficiency of therapies.

In recent years, the demand for personalized medicines offering advanced individual treatments has increased globally. In such a scenario, multiple assays have been beneficial to develop these drugs. Thus, the growing use of personalized medicine, in addition to multiplex assays' use over conventional methods, motivates the development of the multiplex assay market.

On the contrary, the dearth of skilled professionals, along with policies relating to environmental safety, are key factors obstructing the progression of the multiplex assay market.

The market for multiplex assay is divided into product and services, industry verticals, application, technology, and type. The product and service segment comprises software and services, reagents and consumables, and instruments and accessories. Based on industry verticals, the market is divided into research institutes, hospitals, pharmaceutical & biotechnology companies, and clinical laboratories. Furthermore, the application segment is subdivided into companion diagnostics, research and development, and clinical diagnostics. Similarly, the technology section is branched into multiplex PCR, multiplex protein microarray, and other technologies. Lastly, the type segment is segmented into nucleic acid-based multiplex assay, protein-based multiplex assay, and other multiplex assay types.

Geographically, North America is dominating the multiplex assay market. This is mainly owing to the increase in research and development activities to develop novel drugs and treatments. Other than this, the growing prevalence of cancer and other diseases has increased the demand for multiple assays. Above all, the rise in government funding to detect new biomarkers has opened new avenues for the multiplex assay market across North American nations.

Siemens Healthineers AG, Seegene Inc, Merck Millipore, Bio Techne Corporation, Agilent Technologies Inc, Luminex Corporation, Randox Laboratories Ltd, Illumina Inc, Olink Proteomics AB, F Hoffmann La Roche, Abcam, Meso Scale Diagnostics LLC, Becton Dickinson and Company, Bio Rad Laboratories Inc, Qiagen NV, and Thermo Fisher Scientific Inc are leading organizations in the multiplex assay market.

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Question & Answer: Multiplex Assay Market

Question 1: What factors motivate the development of the multiplex assay market?
Answer: In recent years, the demand for personalized medicines offering advanced individual treatments has increased globally. In such a scenario, multiple assays have been beneficial to develop these drugs. Thus, the growing use of personalized medicine, in addition to multiplex assays' use over conventional methods, motivates the development of the multiplex assay market.

Question 2: What key factors are obstructing the progression of the multiplex assay market?
Answer: The dearth of skilled professionals, along with policies relating to environmental safety, are key factors obstructing the progression of the multiplex assay market.

Question 3: Which region is dominating the multiplex assay market?
Answer: Geographically, North America is dominating the multiplex assay market. This is mainly owing to the increase in research and development activities to develop novel drugs and treatments. Other than this, the growing prevalence of cancer and other diseases has increased the demand for multiple assays. Above all, the rise in government funding to detect new biomarkers has opened new avenues for the multiplex assay market across North American nations.

Question 4: Which are the leading organizations in the multiplex assay market?
Answer: Siemens Healthineers AG, Seegene Inc, Merck Millipore, Bio Techne Corporation, Agilent Technologies Inc, Luminex Corporation, Randox Laboratories Ltd, Illumina Inc, Olink Proteomics AB, F Hoffmann La Roche, Abcam, Meso Scale Diagnostics LLC, Becton Dickinson and Company, Bio Rad Laboratories Inc, Qiagen NV, and Thermo Fisher Scientific Inc are leading organizations in the multiplex assay market.

Related Report:
Global Pharmaceutical Filtration Market - https://www.tritonmarketresearch.com/reports/pharmaceutical-filtration-market

The global pharmaceutical filtration market is estimated to grow in its revenue during 2021-2028 at a CAGR of 8.56%. As a result, it is also likely to attain revenue worth $39947.0 million by 2028.
Pharmaceutical filters help produce small molecule elements, such as active pharmaceutical ingredients and excipients. Moreover, they are used in manufacturing various dosages of capsules, tablets, and more.

The market is witnessing growth mainly because of the rise in the manufacturing of large molecules and biologics, along with rising healthcare expenditure.

Additionally, the growing advancements in the biopharmaceutical industry are creating new opportunities for the pharmaceutical filtration market globally.

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This release was published on openPR.