The multiplex PCR assays market is anticipated to be valued US$ 1.3 billion in 2023. By 2033, the market is anticipated to have grown at a compound annual growth rate of 8.5%, to reach US$ 3.0 billion. The market for multiplex PCR assays has grown significantly in the last several years. The requirement for rapid and simultaneous detection of various infections or genetic markers, improvements in molecular diagnostics, and the growing demand for precise and effective diagnostic solutions are some of the reasons driving this expansion and impacting the size of the market.
The multiplex PCR assays market is expected to witness continued growth due to ongoing advancements in molecular diagnostics, increasing demand for point-of-care testing, and the development of targeted therapies. Additionally, the integration of multiplex PCR with other technologies, such as NGS and digital PCR, holds potential for further advancements in multiplex diagnostic capabilities.
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Multiplex PCR assays play a crucial role in infectious disease diagnostics by allowing the detection of multiple pathogens simultaneously. They are particularly useful in outbreaks, epidemiological studies, and surveillance programs. Multiplex PCR assays are widely used for respiratory infections, gastrointestinal infections, sexually transmitted infections, and bloodstream infections.
The multiplex PCR assays market benefits from continuous advancements in technology. These include the development of high-throughput platforms, automation, improved primer design, multiplex probe-based assays, and the integration of PCR with other technologies such as next-generation sequencing (NGS) or microarrays. These advancements enhance multiplex PCR assays' sensitivity, specificity, and scalability.
Key Takeaways:
The multiplex PCR assays industry in the United States is predicted to reach US$ 740.9 million by 2033, increasing at a 7.1% CAGR.
The multiplex PCR assays industry in the United Kingdom is estimated to reach a market value of US$ 146.9 million, expanding at a CAGR of 8.7% by 2033.
During the forecast period, the multiplex PCR assays industry in China is expected to reach a market value of US$ 188.7 million, securing 6.6% CAGR.
The multiplex PCR assays industry in Japan is predicted to reach US$ 115.0 million by 2033, increasing at a 7.0% CAGR.
South Korea's multiplex PCR assays industry is predicted to achieve a market share of 1.8%, rising at a 4.7% CAGR during the forecast period.
With a CAGR of 8.4% from 2023 to 2033, the Instrument is expected to dominate the multiplex PCR assays industry.
With a CAGR of 7.9% from 2023 to 2033, the planar assay is expected to dominate the multiplex PCR assays industry.
With a CAGR of 9.2% from 2023 to 2033, the research & development is expected to dominate the multiplex PCR assays industry.
With a CAGR of 9.9% from 2023 to 2033, the biopharmaceutical companies is expected to dominate the multiplex PCR assays industry.
"Continuous technological advancements in multiplex PCR assays open doors to broader applications, with enhanced sensitivity and specificity, driving industry growth."—opines our research analyst.
How the Competition Look in the Multiplex PCR Does assays Market?
The multiplex PCR assay sector is a very competitive one, with many firms fighting for market share. Several significant participants in this industry comprise Thermo Fisher Scientific, Bio-Rad Laboratories & QIAGEN.
The major companies are heavily spending on research & development efforts to create innovative and inventive care with enhanced effectiveness, dependability, and affordability. They are also focusing on expanding their products related to multiplex PCR assays and strengthening their distribution methods in order to fulfill shifting consumer expectations.
Tactical alliances and partnerships with other companies are becoming more common in the industry, allowing parties to leverage one another's strengths and expand their market influence.
Leading firms use consolidation and mergers to strengthen their market position and gain entry into new markets. The sector is expanding significantly in developing economies, particularly in India and China.
To boost their presence in these regions, major companies are expanding their distribution networks and building regional manufacturing sites. They are also concentrating on offering customers cost-effective products in these markets to get a competitive advantage.
Key Players:
Thermo Fisher Scientific Inc.
Bio-Rad Laboratories
QIAGEN
Luminex Corporation
Fluidigm Corporation
BioFire Diagnostics.
Key Developments:
In June 2021, Bio-Rad confirmed its agreement with Seegene to supply molecular testing services in the USA market.
Key Segmentation:
By Product & Service:
Consumables
Instruments
Software and Services
By Assay Type:
Planar Assay
Blends Protein Arrays (Multiplexed ELISA)
Antibody Arrays
Bead-based Assay
Magnetic Bead-based
Non-magnetic Bead-based
By Application:
Disease Diagnosis
Infectious Disease
Cancer
Autoimmune Disease
Other Diseases
Research and Development
Other Application
By End User:
Biopharmaceutical Companies
Clinical Research Organizations
Academic Research Institutes
Diagnostic Centers
Others
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
The Middle East & Africa
