Europe Syndromic Multiplex Diagnostic Market is expected to reach USD 7562.53 million by 2030

According to a World Health Organization (WHO) report updated in September 2021, more than 55 million people worldwide live with dementia, and nearly 10 million new cases are diagnosed each year, with Alzheimer's disease (AD) accounting for the majority of cases. Several multiplex panels have been developed to detect such rare diseases. For example, the April 2021 article "Advances in multiplex PCR for Alzheimer's disease diagnostics targeting CDK genes" stated that the study's researchers developed a multiplex-PCR (polymerase chain reaction) based diagnostic method that demonstrated the rapid and accurate detection of AD biomarkers. Such advancements and research increase the demand for syndromic multiplex diagnostics, propelling the market forward.

Data Bridge Market Research analyses that the syndromic multiplex diagnostic market which is USD 3879.99 million in 2022, is expected to reach USD 7562.53 million by 2030, at a CAGR of 8.7% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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Drivers

The rising demand for the diagnostic procedure for infectious diseases
Most patients' first symptoms of an infectious disease are not specific to the source of infection: fever, diarrhoea, coughing, headache, and so on. Traditionally, identifying the responsible disease agents involved testing for the most likely cause of a disease, waiting for test results, and then repeating the process if the results were negative.

As a result, the syndromic approach, which uses a single test for all microorganisms suspected of causing infectious disease, offers a novel approach to the problem of infectious disease diagnosis. When a disease is diagnosed, time is saved and the patient can begin treatment sooner. The syndromic multiplex diagnostic test provides more accurate, realistic, and comprehensive results in critical care. For instance, the BIOFIRE FILMARRAY technology, uses a single test to detect bacteria, viruses, fungi, or parasites that can cause infectious disease, with results available in 45 to 65 minutes.

Rising demand for precise and timely results
Globally, there is an increasing demand for precise and timely results. For instance, Hologic, will launch the Novodiag System in Europe in October 2021. Novodiag is a fully automated molecular diagnostic solution for on-demand testing of infectious diseases and antimicrobial resistance. QuantuMDx will also launch its Q-POC, a rapid PCR point-of-care diagnostic system, in July 2021. QuantuMDx's Q-POC system and its first test, a SARS-CoV-2 detection assay, have also received CE-IVD marking under the In Vitro Diagnostics Directive, allowing them to be used in Europe. Such developments are expected to fuel market growth.

Rising diagnostic healthcare expenditure
Rising healthcare spending is expected to increase service availability and affordability, allowing patients to select better and more precise diagnostic services to manage their diseases. Increased healthcare spending makes diagnostic services more readily available. As a result, high health-care spending is a positive factor driving the syndromic multiplex diagnostic market's growth.

Opportunities

Strategic Initiatives are taken by market players
BioMérieux received CE marking for its molecular biology ARGENE test for the multiplex detection of influenza viruses A and B, SARS-CoV-2, and RSV and hMPV viruses in December 2020. This marking has aided the company in commercializing its product, increasing revenue while also providing an opportunity for market growth.

Restraints/Challenges

High cost of Diagnostic Products
The real-time polymerase chain reaction (PCR) is used in multiplex syndromic testing applications to deliver results with amplification curves and correct values. The syndromic multiplex diagnostic instruments have high maintenance costs. As a result, the market faces a challenge due to the high cost of instruments.

This syndromic multiplex diagnostic market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the syndromic multiplex diagnostic market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Syndromic Multiplex Diagnostic Market Scope
The syndromic multiplex diagnostic market is segmented on the basis of product and services, infection type, disease, panels type and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

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Product and Services

Reagents and Consumables
Instruments, Software and Accessories
Services
Infection Type

Viral
Bacterial
Parasites
Fungal
Disease

Respiratory Infection
Gastroneteritis
Sexually Transmitted Infections
Sepsis
Meningitis
Others
Panels Type

Respiratory Panel
GI-Enteric Panel
Sexually Transmitted Disease Panel
Blood-Sepsis Panel
Meningitis Panel
Others
End User

Hospitals
Clinical Laboratories
Pharmaceutical and Biotechnology Companies
Research Institutes
Others

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