Multiplexed Diagnostic Market - By Technology (Very High-Density Multiplexed Assays, High Density Multiplexed Assays, Medium Density Multiplexed Assays, Low Density Multiplexed Assays, Next Generation Sequencing), By Application (Infectious Disease Diagnosis, Oncology, Autoimmune Diseases, Cardiac Diseases, Allergies)- Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Multiplexed Diagnostic Market held USD 12.1 billion in 2020 and is to grow with a CAGR of 17.5% from 2020-2030. Diagnostic assays are regular testing process which is used to analyze target analytes, whether quantitatively or qualitatively, in cells of an organism, or in a sample for disease diagnosis. Multiplexed diagnostics are widely adopted among clinical researchers, medical experts, and diagnostic labs. In addition, increasing awareness regarding benefits offered by advanced and automated multiplexed diagnostic products will foster the multiplex diagnostic industry growth.Multiplexed diagnostics screen various analytes in a single assay procedure cycle. Since single plex assays are available in the market, they fail to yield appropriate results for in a single cycle of assay process, and thus when multiple analytes are screened.

Market Dynamics and Factors:

Major dynamic factors supporting the growth of multiplexed diagnostic market trends include increased demand for medical equipment which can test various samples in lesser time. Also, increased government spending on the healthcare and medical sector, globally provides significant opportunities to the multiplexed industry growth. Increasing demand for advanced diagnostic technologies for precise diagnosis of life-threatening diseases is another significant factor for the growth of multiplexed diagnostic market. Breast cancer is one of the most common cases of death among women, representing 25 % of the world 's total cancer and 15% of cancer death, as per World Health Organization. The growth of the global multiplexed diagnostic market is also fueled by substantial private and public funding for genomics and personalized medicine.

Market Segmentation:

Based on the technology, the multiplexed diagnostic industry is segmented into medium density, very high-density, low density and high-density multiplexed assays, and next generation sequencing. On the basis of application, the multiplexed diagnostic market demand vary into infectious disease diagnosis, oncology, autoimmune diseases, cardiac diseases, allergies. Geographical breakdown and analysis of each of the aforementioned segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographic Analysis:

North America dominates the multiplexed diagnostic market share due to presence of advanced testing facilities in this region. Increasing use of multiplexed diagnostics in various research institutes, large numbers of people with oncology and infectious diseases, several U.S. market players, advances in technology, extensive R&D practices, and increased awareness of diagnosis and treatment are likely to boost market growth in the United States. High aging population, high prevalence of various diseases along with rising growth in research activities will certainly drive the multiplexed diagnostic growth in Asia Pacific.

Competitive Scenario:

Global multiplexed diagnostic market demand is highly consolidated with few of the leading players holding major chunk of the global market size. In terms of multiplexed diagnostic market share, few players are increasingly involved in research and development activities on infectious diseases. Key companies are also in process of boosting its existing facilities to cater to rising demand infectious drugs globally. Key players enhancing the global multiplexed diagnostic market size include Agilent Technologies, Siemens, Hologic, Inc., bioMérieux SA, Illumina, Inc., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd., Luminex Corporation, Thermo Fisher Scientific, Inc., Abbott Laboratories.

Multiplexed Diagnostic Market Report Scope