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.

Northbrook, IL 60062 -- (SBWire) -- 09/07/2023 --Multiplex Assays Market exhibited a substantial revenue estimate of $3.5 billion, with a promising outlook set to propel it to $5.3 billion by 2027. This growth trajectory signifies a notable Compound Annual Growth Rate (CAGR) of 8.8% expected between 2022 and 2027, as reported by a recent study from MarketsandMarkets™.
The driving forces behind this market's expansion are multifaceted. One key driver is the burgeoning applications of multiplex assays in companion diagnostics, where they play a pivotal role in personalized medicine. This evolving landscape positions multiplex assays as essential tools in tailoring treatments to individual patients, thus contributing significantly to market growth.

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Browse in-depth TOC on "Multiplex Assays Market"

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Key Market Players:

The major players operating in this market are 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).

Multiplex Assays Market Dynamics:

Drivers:

1. Increasing prevalence of chronic respiratory diseases
2. Growing demand for emergency and intensive care
3. Growing incidence of pre-term births globally
4. Government support for improving emergency care infrastructure

Restraints:

1. Lack of reimbursement policies across developing countries

Opportunities:

1. Growing demand for single-use Multiplex Assays
2. Increased growth potential in emerging countries

Challenges:

1. Harmful effects of Multiplex Assays on neonatal patients
2. Dearth of skilled professionals for airway management procedures
3. Increasing pricing pressure on key market players

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In 2022, the protein multiplex assays segment held the largest share of the multiplex assays market, by type segment.

The multiplex assays market is segmented into protein, nucleic acid, and cell-based multiplex assays according to type. The protein multiplex assays segment accounted for the largest share in the global multiplex assays market in 2022. As compared to traditional assays, protein multiplex assays prove to be faster and more efficient for protein profiling. Protein assays are highly efficient, require minimal sample volumes, and help reduce turnaround times; however, the equipment is expensive and requires skilled labor. This is expected to hamper the growth of the protein assays market.

The infectious diseases segment accounted for the largest share of the multiplex assays market for clinical diagnostics, in 2022

Based on applications, the multiplex assays market is segmented into research & development and clinical diagnostics. The clinical diagnostics segment is further segmented into infectious diseases, cancer, cardiovascular diseases, autoimmune diseases, nervous system disorders, metabolism & endocrinology disorders, and other diseases. In 2022, the infectious diseases segment accounted for the largest share of the multiplex assays market for clinical diagnostics. Conventional analytical techniques that are used for the detection and identification of pathogens, such as ELISA and cell culture assays, take 2–3 days to produce results. Some multiplex assays, on the other hand, can provide results in a day or less; their rapidity is the key factor supporting their adoption in infectious disease diagnostics.

North America is the largest regional market for multiplex assays market

The global multiplex assays market has been segmented into five major regions—North America, Europe, the Asia Pacific, and the Rest of the World. In 2022, North America accounted for the largest share of the multiplex assays market. The large share of this region can be attributed to the highly advanced healthcare system in the US and Canada. Over the years, healthcare spending in North America has increased at a significant rate. National health spending is projected to grow at an average annual rate of 5.4% during 2019–2028 and reach USD 6.2 trillion by 2028 (Source: Centers for Medicare & Medicaid Services). The growing healthcare expenditure is also one of the major drivers for the biotechnology sector.

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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.