Multiplex Assays Market to Grow by USD 1.34 Bn, 39% of Market Growth to Originate from North America - Technavio

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Oct 31, 2022, 13:30 ET

NEW YORK, Oct. 31, 2022 /PRNewswire/ -- The multiplex assays market size is expected to grow by USD 1.34 billion from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 7.7% during the forecast period. The market has been segmented by type (protein multiplex assays, nucleic acid multiplex assays, and cell-based multiplex assays) and geography (North America, Europe, Asia, and Rest of World (ROW)).

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Multiplex Assays Market: Segmentation Analysis

By geography, North America will lead the multiplex assays market during the forecast period. The region will account for 39% of the market's growth. US and Canada are the key markets for multiplex assays in North America. The fast-growing elderly population and the high prevalence of chronic and infectious diseases will facilitate the multiplex assays market growth in North America over the forecast period.

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By type, the protein multiplex assays segment will be the largest contributor to market growth during the forecast period. Rapid analysis and high precision are possible through multiplex protein assays that have the capability to detect various biomarkers for various types of cancers, diabetes, thyroid, hepatitis, and HIV. Such factors are expected to increase the demand for protein multiplex assays during the forecast period.

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Multiplex Assays Market: Driver and Trend

One of the key factors driving the global multiplex assay market growth is predictive and preventive medicine for early diagnosis and treatment. Current inefficiencies in preventive healthcare have a significant impact on the economies of the US and China, with healthcare contributing approximately 12%-15% of the overall expenditures of these countries. Estimates from healthcare commissions in the US have indicated an annual saving of USD 250to USD 300 billion on healthcare costs by 2023. Correct diagnosis through multiplex assays is pivotal for the fruition of these savings. Such factors will drive the growth of the market during the forecast period.

The launch of multiplex assay-based technologies is one of the key multiplex assay market trends that is expected to impact the industry positively in the forecast period. Vendors are introducing multiplex assay-based technologies to improve the diagnosis of rare diseases. For instance; In April 2022, Bruker Corporation launched new multiplex PCR infectious disease assays that are based on its proprietary LiquidArray technology that detects 7 major pathogens causing STIs using LiquidArray multiplex PCR technology. Such innovations are expected to drive the market during the forecast period.

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Multiplex Assays Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 7.7%
Market growth 2022-2026	USD 1.34 billion
Market structure	Fragmented
YoY growth (%)	7.1
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 39%
Key consumer countries	US, Canada, Germany, UK, and China
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	Abcam plc, Agilent Technologies Inc., Antigenix America Inc., Becton Dickinson and Co., Bio Rad Laboratories Inc., Bio Techne Corp., Cayman Chemical Co., DiaSorin SpA, Enzo Biochem Inc., Illumina Inc., Merck KGaA, Meso Scale Diagnostics LLC, PerkinElmer Inc., Promega Corp., QIAGEN NV, Quanterix Corp., Randox Laboratories Ltd., Seegene Inc., Siemens Healthcare GmbH, and Thermo Fisher Scientific Inc.
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

1 Executive Summary

1.1 Market Overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
Exhibit 06: Executive Summary – Chart on Incremental Growth
Exhibit 07: Executive Summary – Data Table on Incremental Growth
Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 09: Parent market
Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market Definition

Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026

Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary

Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers

Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers

Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants

Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes

Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry

Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition

Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Type

5.1 Market segments

Exhibit 24: Chart on Type - Market share 2021-2026 (%)
Exhibit 25: Data Table on Type - Market share 2021-2026 (%)

5.2 Comparison by Type

Exhibit 26: Chart on Comparison by Type
Exhibit 27: Data Table on Comparison by Type

5.3 Protein multiplex assays - Market size and forecast 2021-2026

Exhibit 28: Chart on Protein multiplex assays - Market size and forecast 2021-2026 ($ million)
Exhibit 29: Data Table on Protein multiplex assays - Market size and forecast 2021-2026 ($ million)
Exhibit 30: Chart on Protein multiplex assays - Year-over-year growth 2021-2026 (%)
Exhibit 31: Data Table on Protein multiplex assays - Year-over-year growth 2021-2026 (%)

5.4 Nucleic acid multiplex assays - Market size and forecast 2021-2026

Exhibit 32: Chart on Nucleic acid multiplex assays - Market size and forecast 2021-2026 ($ million)
Exhibit 33: Data Table on Nucleic acid multiplex assays - Market size and forecast 2021-2026 ($ million)
Exhibit 34: Chart on Nucleic acid multiplex assays - Year-over-year growth 2021-2026 (%)
Exhibit 35: Data Table on Nucleic acid multiplex assays - Year-over-year growth 2021-2026 (%)

5.5 Cell-based multiplex assays - Market size and forecast 2021-2026

Exhibit 36: Chart on Cell-based multiplex assays - Market size and forecast 2021-2026 ($ million)
Exhibit 37: Data Table on Cell-based multiplex assays - Market size and forecast 2021-2026 ($ million)
Exhibit 38: Chart on Cell-based multiplex assays - Year-over-year growth 2021-2026 (%)
Exhibit 39: Data Table on Cell-based multiplex assays - Year-over-year growth 2021-2026 (%)

5.6 Market opportunity by Type

Exhibit 40: Market opportunity by Type ($ million)

6 Customer Landscape

6.1 Customer landscape overview

Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation

Exhibit 42: Chart on Market share by geography 2021-2026 (%)
Exhibit 43: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison

Exhibit 44: Chart on Geographic comparison
Exhibit 45: Data Table on Geographic comparison

7.3 North America - Market size and forecast 2021-2026

Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.4 Europe - Market size and forecast 2021-2026

Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.5 Asia - Market size and forecast 2021-2026

Exhibit 54: Chart on Asia - Market size and forecast 2021-2026 ($ million)
Exhibit 55: Data Table on Asia - Market size and forecast 2021-2026 ($ million)
Exhibit 56: Chart on Asia - Year-over-year growth 2021-2026 (%)
Exhibit 57: Data Table on Asia - Year-over-year growth 2021-2026 (%)

7.6 Rest of World (ROW) - Market size and forecast 2021-2026

Exhibit 58: Chart on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
Exhibit 59: Data Table on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
Exhibit 60: Chart on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
Exhibit 61: Data Table on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)

7.7 US - Market size and forecast 2021-2026

Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)

7.8 Germany - Market size and forecast 2021-2026

Exhibit 66: Chart on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 67: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 68: Chart on Germany - Year-over-year growth 2021-2026 (%)
Exhibit 69: Data Table on Germany - Year-over-year growth 2021-2026 (%)

7.9 UK - Market size and forecast 2021-2026

Exhibit 70: Chart on UK - Market size and forecast 2021-2026 ($ million)
Exhibit 71: Data Table on UK - Market size and forecast 2021-2026 ($ million)
Exhibit 72: Chart on UK - Year-over-year growth 2021-2026 (%)
Exhibit 73: Data Table on UK - Year-over-year growth 2021-2026 (%)

7.10 China - Market size and forecast 2021-2026

Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)

7.11 Canada - Market size and forecast 2021-2026

Exhibit 78: Chart on Canada - Market size and forecast 2021-2026 ($ million)
Exhibit 79: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
Exhibit 80: Chart on Canada - Year-over-year growth 2021-2026 (%)
Exhibit 81: Data Table on Canada - Year-over-year growth 2021-2026 (%)

7.12 Market opportunity by geography

Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges

Exhibit 83: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape

Exhibit 84: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption

Exhibit 85: Overview on factors of disruption

9.4 Industry risks

Exhibit 86: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered

Exhibit 87: Vendors covered

10.2 Market positioning of vendors

Exhibit 88: Matrix on vendor position and classification

10.3 Abcam plc

Exhibit 89: Abcam plc - Overview
Exhibit 90: Abcam plc - Product / Service
Exhibit 91: Abcam plc - Key news
Exhibit 92: Abcam plc - Key offerings

10.4 Becton Dickinson and Co.

Exhibit 93: Becton Dickinson and Co. - Overview
Exhibit 94: Becton Dickinson and Co. - Business segments
Exhibit 95: Becton Dickinson and Co. - Key news
Exhibit 96: Becton Dickinson and Co. - Key offerings
Exhibit 97: Becton Dickinson and Co. - Segment focus

10.5 Bio Rad Laboratories Inc.

Exhibit 98: Bio Rad Laboratories Inc. - Overview
Exhibit 99: Bio Rad Laboratories Inc. - Business segments
Exhibit 100: Bio Rad Laboratories Inc. - Key news
Exhibit 101: Bio Rad Laboratories Inc. - Key offerings
Exhibit 102: Bio Rad Laboratories Inc. - Segment focus

10.6 Bio Techne Corp.

Exhibit 103: Bio Techne Corp. - Overview
Exhibit 104: Bio Techne Corp. - Business segments
Exhibit 105: Bio Techne Corp. - Key news
Exhibit 106: Bio Techne Corp. - Key offerings
Exhibit 107: Bio Techne Corp. - Segment focus

10.7 DiaSorin SpA

Exhibit 108: DiaSorin SpA - Overview
Exhibit 109: DiaSorin SpA - Business segments
Exhibit 110: DiaSorin SpA - Key news
Exhibit 111: DiaSorin SpA - Key offerings
Exhibit 112: DiaSorin SpA - Segment focus

10.8 Meso Scale Diagnostics LLC

Exhibit 113: Meso Scale Diagnostics LLC - Overview
Exhibit 114: Meso Scale Diagnostics LLC - Product / Service
Exhibit 115: Meso Scale Diagnostics LLC - Key offerings

10.9 Promega Corp.

Exhibit 116: Promega Corp. - Overview
Exhibit 117: Promega Corp. - Product / Service
Exhibit 118: Promega Corp. - Key offerings

10.10 QIAGEN NV

Exhibit 119: QIAGEN NV - Overview
Exhibit 120: QIAGEN NV - Product / Service
Exhibit 121: QIAGEN NV - Key news
Exhibit 122: QIAGEN NV - Key offerings

10.11 Seegene Inc.

Exhibit 123: Seegene Inc. - Overview
Exhibit 124: Seegene Inc. - Business segments
Exhibit 125: Seegene Inc. - Key news
Exhibit 126: Seegene Inc. - Key offerings
Exhibit 127: Seegene Inc. - Segment focus

10.12 Thermo Fisher Scientific Inc.

Exhibit 128: Thermo Fisher Scientific Inc. - Overview
Exhibit 129: Thermo Fisher Scientific Inc. - Business segments
Exhibit 130: Thermo Fisher Scientific Inc. - Key news
Exhibit 131: Thermo Fisher Scientific Inc. - Key offerings
Exhibit 132: Thermo Fisher Scientific Inc. - Segment focus

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist

Exhibit 133: Inclusions checklist
Exhibit 134: Exclusions checklist

11.3 Currency conversion rates for US$

Exhibit 135: Currency conversion rates for US$

11.4 Research methodology

Exhibit 136: Research methodology
Exhibit 137: Validation techniques employed for market sizing
Exhibit 138: Information sources

11.5 List of abbreviations

Exhibit 139: List of abbreviations

About Technavio

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