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Multiplexed Diagnostic Market Driven By Innovation and Development of Technology
The global multiplexed diagnostic market is estimated to be valued at US$ 8,698.0 in 2017 and is expected to witness a CAGR of 7.9% during the forecast period (2017 – 2025).
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Additionally, SpeeDx has received CE-IVD marking for its PlexPCR VHS Multiplex qPCR technology in October 2017. This diagnostic test is designed to detect and differentiate the four different genital and oral lesion viruses, which include herpes simplex virus types 1 and 2 (HSV-1 and -2), varicella-zoster virus (VZV), and Treponema pallidum (syphilis). Therefore, PlexPCR VHS Multiplex qPCR test is expected to provide early detection of infection and help in treatment decisions. Thus, advanced technology is expected to boost the growth of multiplexed diagnostic market during the forecast period.
According to Cancer Research UK, around 20 cases of ovarian cancers are diagnosed every day and it is projected to increase by around 15% from 2014 to 2035. Furthermore, according to American Cancer Society (ACS), in 2017, approximately 53,670 people are expected to be diagnosed with pancreatic cancer in the U.S. Moreover, according to Cancer Research UK, approximately 3,072 new cases were diagnosed with acute myeloid leukemia (AML) in 2014. As per Cancer Research U.K, Acute Myeloid Leukemia (AML) accounts approximately 8 cases per day. Increasing incidence of multiple cancers is expected to increase the demand for precise multiplexed diagnostic tools, in turn fueling the market growth.
Multiplexed diagnostics are used in investigation of biological samples, which are capable of completing a screening process with a single run. Multiplexed diagnostic assays are involved in the detection and diagnosis of different diseases and infections, which include cancers, autoimmune diseases, allergies, and cardiovascular diseases. Assays performed in multiplex diagnostics include high density multiplexed assays, medium density multiplexed assays, low density multiplexed assays, and next-generation sequencing assays. Early diagnosis can minimize the risk factors associated with chronic diseases/infection and helps in proper treatment management. Moreover, multiplexed diagnostic assays have advantages, such as time efficiency and highly precise accuracy, which can analyze defects and mutations in any functional biomolecules (DNA, RNA, and protein).
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According to the Centers for Disease Control and Prevention (CDC), 2014, around 236,968 women are diagnosed with breast cancer. Increasing demand for early diagnosis of infection/diseases needs rapid multiplexed diagnostic tools, which is expected to boost the growth of the multiplexed diagnostic market.
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