Global multiplex assay market is estimated to grow at a higher CAGR during the forecast period owing to its benefits over conventional assays. Multiplex assays are extensively used in functional genomics to determine biomolecule state of a particular class within a biological sample. The trial is carried out to detect the impact of experiment on DNA mutation over all biomolecules.Functionally, protein immunoassays and enzyme immunoassays offer information about endogenous proteins and also help in recognizing biomarker combination with a higher disease. Currently, anti-body based platforms are fundamental for protein multiplex arrays. Assay formats comprise suspension assays & planar assays that utilize conventional immunometric principles.
On a commercial scale, multiplex assay is normally used in high-throughput screening settings in which many specimens are analyzed using a multiplex assay. A multiple assay may not be a high-throughput compulsorily, but a single multiplex assay produces data for a large number of analytes. Therefore, with the growing popularity of multiplex assays in research worldwide, the market of multiplex assay witnesses a trajectory growth for the assessment period.
The key driving factors responsible for the growth of multiplex assay industry includes adoption of companion diagnostics for safety & efficacy of therapies. The rising need for effective analytical platforms to minimize operational costs, benefits of multiplexing over conventional form of assays propel the market growth during the forecast period. Additionally, growing validation of biomarkers in protein and molecular diagnostics are anticipated to drive the market growth.
Moreover, the need for suitable and impactful platforms in research to minimize the operational costs is fueling the market growth. However, heavy costs associated with the use of multiplex assay instruments are likely to impede market growth for the forecast period. Multiplex assay market is segmented into instruments, consumables, kits and reagents, panels, accessories, software and services, based on products & services. Consumables segment is anticipated to grow at a higher CAGR during the forecast period due to rising demand for consumables.
Multiplex assay market is segmented into planar nucleic acid assays, nucleic acid-based multiplex arrays, bead-based nucleic acid assays, protein-based multiplex arrays, planar protein assays, bead-based protein assays based on type. Protein based assays segment is anticipated to rise at a higher CAGR during the forecast period owing to inclination towards assays for research purpose.
Multiplex assay market is segmented into multiplex polymerase chain reaction, multiplex arrays, planar assays, bead-based assays, SIMOA technology, gold-nano particle technology, antibody assays and cytometric bead-based assays. Multiplex assays are estimated to rise at a higher CAGR since it offers several advantages over traditional assays. Multiplex assay market is segmented into drug application, research & development, biomarker discovery and validation, diseases & disorders, cancer, infectious diseases, cardiac diseases, autoimmune diseases, alzheimer’s disease, allergies, companion diagnostics, food & agriculture, forensic testing, bone metabolism, fertility and toxicology studies, based on application.
Multiplex assay market is segmented into hospitals, academic & research institutes, clinical laboratories, pharmaceutical and biotechnology companies, blood banks, forensic labs, nursing homes, local public health laboratories, based on end user. Multiplex assay industry spans North America, Latin America, Europe, Asia-Pacific, and Middle-East & Africa.
Research Support Specialist, USA