Multiplex Detection Immunoassays Market (Assay Type: Planar Assay and Bead-based Assay; Technique: Nucleic Acid-based Techniques, Protein-based Techniques, and Biosensor-based Techniques; Application: Disease Testing, Food Contamination Testing, Research & Development, and Veterinary Disease Testing; and End User: Pharmaceutical & Biopharmaceutical Companies, Clinical Research Organizations, Food & Beverages Industry, Academic & Research Institutes, Diagnostic Centers, and Others)- Size, Share, Forecast Report 2021-2030

The global Multiplex Detection Immunoassays market gathered revenue around USD 1.8 Billion in 2020 and market is set to grow USD 3.7 Billion by the end of 2030. The global Multiplex Detection Immunoassays market is estimated to expand at a modest CAGR of 9.7% during the prediction period2021 to 2030.

Multiplex immunoassays provide sufficient analytical performance to evaluate serum biomarkers that complement each other in the detection of a larger number of patient samples. The use of differentially detectable beads of different regions enables simultaneous identification and quantification of multiple analytes in the same sample allowing the individual immunoassays to be multiplexed.

In terms of assay type, the global multiplex detection immunoassays market has been bifurcated into planar assay and bead-based assay. The planar assay segment has been split into blends protein arrays (multiplexed ELISA) and antibody arrays. The bead-based assay sub-segment has been segregated into magnetic bead-based and non-magnetic bead-based. The planar assay segment accounted for prominent share of the global multiplex detection immunoassays market in 2020. The segment is anticipated to expand at a high CAGR during the forecast period, owing to rise in the need and demand for diagnosis by patients.

Based on technique, the global multiplex detection immunoassays market has been divided into nucleic acid-based techniques, protein-based techniques, and biosensor-based techniques. The protein-based techniques segment held a significant share of the global multiplex detection immunoassays market in 2020. In terms of application, the global multiplex detection immunoassays market has been classified into disease testing, food contamination testing, research & development, and veterinary disease testing. The research & development segment accounted for major share of the global multiplex detection immunoassays market in 2020.

This research report purposes at stressing the most lucrative growth prospects.The aim of the research report is to provide an inclusive valuation of the Multiplex Detection Immunoassays market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Multiplex Detection Immunoassays market reportaids in comprehendingmarket structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-downimpact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilaracross various industry verticals. The research reportofferspresent short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lastingtactics for recovery and by region.

Multiplex Detection Immunoassays market report empower readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplish sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

Rise in Demand for Clinical Diagnosis Applications to Propel Market Growth

Multiplex detection immunoassays are increasingly being used in a wide range of applications, including infectious disease testing, food contamination testing, veterinary disease testing, and R&D activities. The increasing demand for multiplex detection immunoassays for clinical diagnosis is expected to accelerate the development of multiplex detection immunoassays in the upcoming years– a factor that is set to fuel the growth of the market for global multiplex detection immunoassays during the assessment period. Prosthetic joint replacements are primarily used to enhance the quality of life, restore the joint function, and improve mobility. Although prosthetic joint replacement is a globally accepted treatment, prosthetic joint infection is one of the major causes of knee arthroplasties, which makes early diagnosis critical. This is set to drive the demand for multiplex detection immunoassays.

As a measure to prevent prosthetic joint infection, a number of immunoassays are available to assist in the early detection of infections out of which, lateral flow multiplex detection immunoassay is at the forefront in terms of adoption due to the low-costs, speed, and simplicity.

Point-of-care Testing to Aid Market Growth

The noteworthy surge in the demand for point of care diagnostic devices for rapid initial screening in various non-laboratory setting is another factor that is anticipated to provide a considerable boost to the growth of the global multiplex detection immunoassays market during the assessment period. The demand for ‘near-patient tests’ is on the rise, owing to its high patient convenience. Some of the most widely used point-of-care tests include blood glucose tests, drug screenings, and food pathogens. At present, a range of point-of-care immunoassays is available to determine the presence of various pathogens and substances, and efforts are being made to improve the quality and performance of the same, thus driving the multiplex detection immunoassays market during the assessment period.

Researchers Focus on Development of Multiplex Immunoassay for Simultaneous Detection of Human Coronaviruses

The outbreak of the COVID-19 pandemic is projected to have a strong impact on the growth of the global multiplex detection immunoassays market. Research and development activities are expected to gain considerable traction across the global multiplex detection immunoassays market during the ongoing COVID-19 health crisis. At present, scientists and researchers are increasingly focusing on the development of multiplex serologic assays to enable swift detection and surveillance of known human coronaviruses. Research and development activities are anticipated to set the tone for the growth of the global multiplex detection immunoassays market in the upcoming years.

High Prevalence and Increase in Incidence Rate of Chronic and Infectious Diseases: Key Driver of Multiplex Detection Immunoassays Market

• Diagnosis of infectious and chronic diseases is a leading application of in vitro diagnostics. Life science reagents (both biological and chemical) are an integral and vital part of any diagnostic test. The emergence and outbreak of various infectious diseases has created challenges and opportunities for researchers to develop new diagnostic tools and tests for early diagnosis and prevention of diseases.
• According to the World Health Organization (WHO), chronic diseases are projected to account for nearly three-quarters of all deaths globally in 2020, with 75% of deaths due to ischemic heart disease (IHD), 75% due to stroke, and 70% owing to diabetes likely to occur in developing countries. The number of people with diabetes in the developing countries is estimated to increase by over 2.9 times, from 84 million in 1995 to 228 million in 2025.
• Globally, 65% of the burden of chronic diseases is projected to occur in developing countries. Prevalence of cardiovascular diseases is higher in India and China than in all the economically developed countries in the world put together.
• According to the WHO, chronic disease prevalence is expected to rise by 57% by 2020. Healthcare expenditure increases, sometimes exponentially, with each additional chronic condition with greater specialist physician access, emergency department presentations, and hospital admissions.
• Chronic and infectious diseases have been a major driver of healthcare costs, while also impacting workforce patterns, including absenteeism. According to the Centers for Disease Control, in the U.S. alone, chronic diseases account for nearly 76% of aggregate healthcare spending, or an estimated US$ 5,300 per person annually.
• According to the Centers for Disease Control and Prevention, 6 in 10 adults in the U.S. have a chronic disease. Chronic diseases are likely to affect an estimated 164 million people in the U.S., nearly half (49%) of the population of the country, by 2025. Prevention and management of chronic diseases are best performed by multidisciplinary teams in primary care and public health. According to Project HOPE: The People-to-People Health Foundation, Inc., the number of people with chronic mental disorders could increase from 31 million to 48 million, by 2023. Similar increases are projected for virtually every common chronic condition.

Laboratory Consolidation and Demand for Laboratory Integration and Automation: Key Driver of Multiplex Detection Immunoassays Market

• Increase in operational costs, stringent rules and regulations, decrease in reimbursements, lack of quality workforce, and intense competition in the industry are the major challenges hospitals and diagnostic laboratories face currently
• Cost per test and revenue of diagnostic laboratories have been declining in the past few years; however, the volume is projected to rise, owing to increase in geriatric population and surge in demand for preventive treatment and drug monitoring
• Apart from economic constraints, other issues that small- and mid-volume laboratories face are quality and service issues, volatility in test volumes, and ad hoc test assays. Large laboratories are utilizing this opportunity to consolidate their position in the market.
• Numerous global conglomerates are expanding their base in emerging regions through mergers and acquisitions in the clinical laboratories segment. Unilabs, a clinical laboratory conglomerate based in Switzerland, operates through 110 laboratories located in over 10 countries in Europe. Quest Diagnostics has presence in countries in Asia Pacific such as India and China. India-based SRL Diagnostics has presence in countries in South Africa and Southeast Asia.
• Consolidation among laboratories is boosting test volumes, which is leading to the adoption of complete laboratory automation and integration. Large sample processing capacity, large parameters testing in short time, high throughput, minimum requirement of labor, integrated quality control & data storage, and integrated quality control and validation facility are the major factors projected to propel the global multiplex detection immunoassay market during the forecast period.

Multiplex Detection Immunoassays Market: Prominent Countries

North America held a major share of the global multiplex detection immunoassays market in 2019. Highly structured healthcare industry, presence of key players, and growth strategies adopted by these players are the major factors driving the multiplex detection immunoassays market in the region. Rise in awareness about benefits of procedures and increase in healthcare expenditure propel the multiplex detection immunoassays market in North America.

Asia Pacific held the second largest share of the global multiplex detection immunoassays market in 2019. The multiplex detection immunoassays market in Asia Pacific is driven by the rise in prevalence of chronic diseases and a well-developed healthcare sector. The multiplex detection immunoassays market in Asia Pacific is likely to grow at a rapid pace during the forecast period. Increase in product approvals, rise in prevalence of cardiovascular diseases, and surge in awareness leading to routine checkups and diagnosis are the major factors projected to augment the multiplex detection immunoassays market in Asia Pacific.

Significant Market Participants Operational in the Multiplex Detection Immunoassays Market are:

The global multiplex detection immunoassays market include Hoffmann-La Roche Ltd., QIAGEN, Merck KGaA, Microsynth AG, Bio-Rad Laboratories, Thermo Fisher Scientific, Luminex Corporation, and Becton, Dickinson and Company.

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects includingproduct type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2030 and covers subsequent region in its scope:

Global Multiplex Detection Immunoassays Market: Segmentation
Multiplex Detection Immunoassays Market, by Assay Type

• Planar Assay
• Blends Protein Arrays (Multiplexed ELISA)
• Antibody Arrays
• Bead-based Assay
• Magnetic Bead-based
• Non-magnetic Bead-based

Multiplex Detection Immunoassays Market, by Technique

• Nucleic Acid-based Techniques
• Protein-based Techniques
• Biosensor-based Techniques

Multiplex Detection Immunoassays Market, by Application

• Disease Testing
• Infectious Disease Testing
• Autoimmune Disease Testing
• Other Diseases Testing
• Food Contamination Testing
• Research & Development
• Veterinary Disease Testing

Multiplex Detection Immunoassays Market, by End User

• Pharmaceutical & Biopharmaceutical Companies
• Clinical Research Organizations
• Food & Beverages Industry
• Academic & Research Institutes
• Diagnostic Centers
• Others

By Regional Outlook

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• Italy
• France
• Rest of EU

Asia Pacific

• China
• India
• Japan
• Southeast Asia
• Rest of APAC

Central & South America

• Brazil
• Argentina
• Rest of Central & South America

Middle East and Africa

• GCC
• North Africa
• South Africa