Multiplex Assays Market What Are The Main Factors That Contributing Towards Industry Growth

Kenneth Research recently added a report on Multiplex Assays Market in its database of market research reports which provides its readers an in-depth analysis on the latest trends, growth opportunities and growth drivers that are associated with the growth of the market. The report additionally shares critical insights on the COVID-19 impacts on the Multiplex Assays Market, along with the compound growth rate (CAGR) of the market for a projected period between 2021 2025. The report also includes analysis of the market by utilizing different analytical tools, such as PESTEL analysis and Porter’s five forces analysis. These tools also provide an in-depth analysis on the micro and macro-environmental factors that are associated with the growth of the market during the forecast period.

The global multiplex assaysmarket was valued at USD 2.61 million in 2016 and is projected to reach USD 4.84millionby 2025, growing at a CAGR of 7.1% from 2017 to 2025.
A multiplex assay is a type of assay used in research to simultaneously measure multiple analytes (dozens or more) in a single run/cycle of the assay. The market is expected to grow at a high CAGR in the forecast period due to increased applications and advantages of the technology.

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Market Dynamics:
1. Market Drivers
1.1 Adoption of Companion Diagnostics for Increasing Safety & Efficacy of Therapies
1.2 Need for Effective Analytical Platforms to Reduce Operational Costs
1.3 Advantages of Multiplexing Over Traditional Assays
2. Market Restraints
2.1 High Investment Cost
2.2 Standardization of Immunoassay Design and Quality Control

Market Segmentation:
1. By End User:
1.1 Pharmaceutical & Biotechnology Companies
1.2 Academic & Research Institutes
1.3 Clinical Laboratories
1.4 Hospitals
1.5 Other End Users

2. By Application:
2.1 Research & Development
2.1.1 Drug Development
2.1.2 Biomarker Discovery and Validation
2.2 Disease & Disorders
2.2.1 Infectious Diseases
2.2.2 Cancer
2.2.3 Cardiac Diseases
2.2.4 Autoimmune Diseases
2.2.5 Alzheimer’s Disease
2.2.6 Allergies
2.3 Companion Diagnostics
2.4 Others

3. By Product and Services:
3.1 Multiplex Assay Consumables
3.2 Multiplex Assay Instruments
3.3 Multiplex Assay Accessories
3.4 Software and Services

4. By Type:
4.1 Nucleic Acid-Based Multiplex Assays
4.1.1 Planar Nucleic Acid Assays
4.1.2 Bead-Based Nucleic Acid Assays
4.2 Protein-Based Multiplex Assays
4.2.1 Planar Protein Assays
4.2.2 Bead-Based Protein Assays

5. By Technology:
5.1 Multiplex Pcr
5.2 Multiplex Arrays
5.2.1 Multiplex Planar Arrays
5.2.2 Multiplex Bead-Based Array
5.3 Other Technologies

6. By Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Middle East & Africa

Competitive Landscape:
The major players in the market are as follows:
1. Luminex Corporation
2. Thermo Fisher Scientific Inc.
3. Illumina, Inc.
4. Bio-Rad Laboratories Inc.
5. Qiagen N.V.
6. Abcam PLC
7. Becton, Dickinson and Company
8. Merck KGAA
9. Seegene Inc.
10. Meso Scale Diagnostics, LLC.
11. Randox Laboratories Ltd.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

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Research study on the multiplex assays market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.

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