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Forecasted Growth: Multiplex Assays Market Worth $5.3 Billion
The multiplex assays market is valued at an estimated USD 3.5 billion in 2022 and is projected to reach USD 5.3 billion by 2027, at a CAGR of 8.8% during the forecast period.
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The increasing applications of companion diagnostics in drug development and the significance of multiplex assays in companion diagnostics are expected to drive the multiplex assays market.
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Based on product & service, the multiplex assays market is segmented into three broad categories, namely, consumables, instruments, and software & services. In 2022, the consumables segment accounted for the largest share of the market. The availability of a wide range of reagents and kits and increasing use of assays in different oncology therapeutic treatments are some of the major factors driving the growth of the consumables market.
On the basis of type, the multiplex assays market is segmented into protein, nucleic acid, and cell-based multiplex ...
... assays. The nucleic acid multiplex assays segment is further divided into planar, bead-based, and other nucleic acid multiplex assays. The protein multiplex assays segment is further categorized into planar, bead-based, and other protein multiplex assays. The protein multiplex assays segment accounted for the largest share of the global multiplex assays market in 2022. Protein multiplex assays are preferred over traditional protein analysis tools mainly due to their distinct advantages, such as the simultaneous profiling of multiple analytes using smaller sample amounts. Such distinct features make protein multiplex assays more suitable for research applications where samples are scarce and valuable resources. This is expected to support market growth of this segment.
Based on technology, the multiplex assays market is divided into flow cytometry, fluorescence detection, luminescence, multiplex real-time PCR, and other technologies. In 2022, the flow cytometry segment accounted for the largest share of the global multiplex assays market. Its wide applications in protein expression, RNA, and cell health status makes it the largest market segment.
Based on applications, the multiplex assays market is segmented into research & development (drug discovery & development and biomarker discovery & validation) and clinical diagnostics (infectious diseases, cancer, cardiovascular diseases, autoimmune diseases, nervous system disorders, metabolism & endocrinology disorders, and other diseases). The research & development application segment is expected to account for the largest share of the multiplex assays market in 2022. Multiplex assays are easy to use and are associated with reduced turnaround times, owing to which they are preferred for research & development applications as compared to conventional single plex assays.
The global multiplex assays market has been segmented into five major regions— North America, Europe, the Asia Pacific, and the Rest of the World (RoW). In 2022, North America accounted for the largest share of the global multiplex assays market. The large share of North America in the global market is attributed to factors such as the rising amount of government funding for R&D in multiplex assays; an increasing number of seminars and workshops about emerging technologies in the domain of multiplex assays; the growing adoption of companion diagnostics for personalized treatment; and the rising need for effective analytical platforms to reduce operational costs.
Major Companies:
Illumina, Inc. (US), Thermo Fisher Scientific, Inc. (US), Bio-Rad Laboratories, Inc. (US), Becton, Dickinson and Company (US), DiaSorin S.p.A. (Italy), QIAGEN N.V. (Netherlands), Abcam plc (UK), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Quanterix (US), Bio-Techne (US), MESO SCALE DIAGNOSTICS, LLC (US), Randox Laboratories Ltd. (UK), Olink (Sweden), Seegene Inc. (South Korea), Siemens Healthcare AG (Germany), PerkinElmer Inc. (US), Shimadzu Corporation (Japan), Promega Corporation (US), Enzo Biochem Inc. (US), Cayman Chemical (US), Boster Biological Technology (US), Antigenix America, Inc. (US), Quansys Biosciences Inc. (US), and RayBiotech Life, Inc. (US).
Recent Developments
In September 2021, Bio-Rad Laboratories launched its Bio-Plex Pro Human IgA and IgM SARS-CoV-2 panels to detect IgA and IgM antibodies against four SARS-CoV-2 antigens. The panels are for research use only (RUO).
In September, DiaSorin S.p.A. received the CE mark approval for its Simplexa COVID-19 & Flu A/B Direct kit, a multiplex test for the in vitro qualitative detection and differentiation of nucleic acid from severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), influenza A virus, and influenza B virus from the same patient sample in one reaction well. The assay is designed for use on the LIAISON MDX and is run directly from nasopharyngeal swabs (NPS) without the need for offboard extraction.
In August 2021, Becton, Dickinson and Company launched its new and fully automated high-throughput diagnostic system, BD COR System. The system uses robotics and sample management software algorithms to set a new standard in automation for infectious disease molecular testing in core laboratories and other centralized laboratories in the US.
In July 2021, DiaSorin S.p.A. acquired the leading company of multiplex assays, Luminex Corporation, for a price of USD 37.00 per share, that corresponds to a total equity value of approximately USD 1.8 billion.
In February 2021, Thermo Fisher Scientific acquired Mesa Biotech, a privately-held point-of-care molecular diagnostic company. This acquisition strengthened Thermo Fisher's operational excellence, access to raw materials, and existing distribution & sales channels with Mesa's innovative platform with a diverse array of diagnostic products, such as Accula System by Mesa Biotech that is dedicated to COVID-19 testing.
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