Hyderabad, India -- (SBWIRE) -- 02/22/2018 -- A multiplex assay is an investigative methodology for subjectively evaluating or quantitatively estimating the existence, amount or action of multiple objective elements simultaneously. The Multiplex assay provides significant advantages over regular assay which can analyse only one analyte in a single run and is majorly used in functional genomics. The Multiplex assay can be further classified based on several factors like the capacity of analytes in a single run, type of applications etc.

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The global multiplex assay market is estimated to have a value of USD 2.68 billion in 2016. With a CAGR of 7.15%, the market size is expected to grow rapidly to cross USD 3.79 billion by 2021.

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Rise in the number of research and improvement activities for treatment of maladies, increment in usage of multiplex assays to decrease activity costs, advancements in technology, and development in preparation of customized drug for expanding wellbeing of patients and viability of treatments are predicted to make the key players more interested to invest during the forecast period.
Multiplex assays are finding major applications in companion diagnostics owing to the growing acceptance of biomarkers. High efficiency, ease of usage and faster results are also crucial in the increasing adoption of multiplex assays.

Be that as it may, deficiency of experienced social insurance experts and gigantic capital ventures are the major limiting factors of the market development

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North America occupies the majority of the market share owing to the presence of major key players and major advancements in research technology. However, Asia-pacific is expected to grow at a high rate during the forecast period owing to the increasing population and the rising economies of the developing nations.

Major players of the multiplex assays market are Luminex Corporation, Thermo Fisher Scientific Inc., Illumina Inc., Bio-Rad Laboratories Inc., QIAGEN N.V., Abcam Plc, Becton, Dickinson and Company, Luminex Corporation, Meso Scale Diagnostics, Randox Laboratories Ltd and Seegene Inc.

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