Press release
Multiplex Assays Market to Reach USD 9.13 Billion by 2034, Growing at an 8.5% CAGR
The multiplex assays market was valued at USD 4.05 billion in 2024 and is expected to reach USD 9.13 billion by 2034. The market is projected to exhibit a CAGR of 8.5% from 2025 to 2034.
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What Are Multiplex Assays?
A multiplex assay is a kind of immunoassay that utilizes magnetic beads to simultaneously measure multiple analytes in a single experiment. It is derived from an ELISA that utilizes beads for securing the seized antibody. While multiplex assays are more commonly used in research settings than in clinical environments, they offer significant advantages in terms of efficiency and throughput.
The outcomes can be analyzed by flow cytometry, as the beads are distinguished by fluorescent signature. The total number of analytes measured is decided by the number of varied bead colors. The technology can be additionally categorized based on how many analytes can be evaluated per assay, where multiplex indicates those with the highest analyte measurement and low plex that have fewer analytes measured.
What's Driving Market Growth?
The shift towards personalized medicine is a notable market driver. Personalized medicines involve tailoring medical treatments to each patient's unique characteristics, which need accurate and thorough diagnostic instruments. These tools enable the simultaneous analysis of manifold biomarkers, which is essential for advancing earmarked therapies, driving up the multiplex assays market demand.
Advancements in genomics and proteomics research are another major driver of market expansion. These fields need the study of complex biological systems, necessitating instruments capable of efficiently analyzing multiple analytes. They provide the capacity to inspect several genes or proteins in a solitary experiment, saving time and resources.
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Who Are Market Key Players?
The market is showcased by global and regional contenders vying for market share through technological progressions, strategic alliances, and a sizeable service framework. Key companies in the market are mentioned below:
List of Key Companies in Multiplex Assays Market
Thermo Fisher Scientific, Inc.
Bio-Rad Laboratories, Inc.
Luminex Corporation (part of DiaSorin)
Illumina, Inc.
QIAGEN N.V.
Agilent Technologies, Inc.
Abcam plc
Becton, Dickinson and Company
Merck KGaA
PerkinElmer, Inc.
Meso Scale Diagnostics, LLC
Randox Laboratories Ltd.
Seegene Inc.
Quanterix Corporation
Olink Holding AB
Multiplex Assays Market Developments
November 2024 - Bio-Rad introduced an upgraded version of its multiplex assay platform, enhancing data precision and expanding its applications in disease research and drug discovery.
October 2024 - Thermo Fisher launched a new multiplex assay designed to streamline genomic analysis, improving efficiency in both research and diagnostic laboratories.
How is Market Segmentation Done?
The consumables segment leads the market, driven by the recurring demand for reagents and assay kits essential for multiplex assays. Meanwhile, the software & services segment is experiencing the fastest growth, fueled by the rising need for advanced data analysis and assay development services.
By Product & Service Outlook (Revenue-USD Billion, 2020-2034)
Consumables
Instruments
Software & Services
By Type Outlook (Revenue-USD Billion, 2020-2034)
Protein Multiplex Assays
Nucleic Acid Multiplex Assays
Cell-Based Multiplex Assays
By Technology Outlook
Flow Cytometry
Fluorescence Detection
Luminescence
Multiplex Real-Time PCR
Others
By Application Outlook (Revenue-USD Billion, 2020-2034)
Research & Development
Clinical Diagnostics
By End-User Outlook (Revenue-USD Billion, 2020-2034)
Pharmaceutical & Biotechnology Companies
Hospitals & Research Institutes
Reference Laboratories
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Which Region Dominates the Market?
The regions covered in the market report are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America holds the largest multiplex assays market share. This is due to the presence of an entrenched healthcare framework, notable funding in research and development, and the early adoption of progressive diagnostic technologies.
Asia Pacific is witnessing rapid growth due to expanding research initiatives and growing demand for progressive diagnostic instruments.
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