Market Size –
The multiplex PCR assays market size has grown rapidly in recent years. It will grow from $1.33 billion in 2023 to $1.51 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%. The growth in the historic period can be attributed to the increased prevalence of infectious diseases, increasing government funding and support, increasing adoption in clinical diagnostics, rise in genetic testing and personalized medicine, increasing use in academic and research institutions, advancements in bioinformatics and data analysis tools, rising healthcare expenditure
The multiplex PCR assays market size is expected to see rapid growth in the next few years. It will grow to $2.5 billion in 2028 at a compound annual growth rate (CAGR) of 13.5%. The growth in the forecast period can be attributed to the expansion of application areas, rising demand for point-of-care diagnostics, growth in personalized medicine, an increase in research and development expenditures, rising health awareness and preventive healthcare, an increasing focus on precision medicine, and a and a rising demand for rapid and reliable diagnostic tests. Major trends in the forecast period include next-generation sequencing (NGS) integration, companion diagnostics, digital PCR technology, automation and high-throughput systems, point-of-care and portable devices, customization and multiplexing capabilities, artificial intelligence and machine learning, enhanced data management, and cloud solutions.
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Scope Of Multiplex PCR Assays Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increasing demand for diagnostic testing is expected to drive the growth of the multiplex PCR assay market in the coming years. Diagnostic testing refers to the procedures or tests employed to identify the presence or absence of diseases or conditions in patients. The growing demand for such testing is primarily due to the rise in chronic diseases like cancer and diabetes, which necessitate early and accurate diagnoses for effective management. Furthermore, the emphasis on preventive healthcare promotes regular testing to identify potential health issues early. Multiplex PCR assays enhance the efficiency and comprehensiveness of diagnostic testing by allowing the simultaneous detection and analysis of multiple pathogens or genetic markers from a single sample. For example, in July 2024, the National Health Service (NHS), a UK-based healthcare provider, reported that diagnostic activity surpassed pre-pandemic levels in 2023, with a 21% increase in tests conducted in May 2024 compared to the previous year, amounting to 2.4 million diagnostic tests. Thus, the increasing demand for diagnostic testing will significantly propel the multiplex PCR assay market’s growth through 2023, into 2024, and is anticipated to continue growing by 2028.
Market Trends –
Major companies operating in the multiplex PCR assays market are focusing on integrating automation, such as next-generation quantitative PCR (qPCR) systems, to provide precise and flexible nucleic acid quantification for advanced clinical diagnostics and public health. Next-generation qPCR systems offer high-throughput, accurate, and simultaneous detection of multiple targets, improving diagnostic accuracy and efficiency. For instance, in November 2023, Roche Diagnostics Corporation, a Switzerland-based diagnostic system solutions manufacturer, launched the LightCycler PRO System. This next-generation qPCR platform offers high-throughput, precise, and simultaneous detection of multiple targets. It features enhanced temperature uniformity, advanced software, and compatibility with over 200 LightMix Modular and 60 CE-IVD assays, improving diagnostic accuracy and efficiency. This system exemplifies the integration of automation in the Multiplex PCR Assays market, advancing clinical diagnostics and public health.
The multiplex pcr assays market covered in this report is segmented –
1) By Assay Type: Planar Assay, Bead Based Assay
2) By Product And Services: Consumables, Instruments, Software And Services
3) By Application: Disease Diagnosis, Research And Development, Other Applications
4) By End User: Biopharmaceutical Companies, Clinical Research Organizations, Academic Research Institutes, Diagnostic Centers, Other End Users
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Regional Insights –
North America was the largest region in the multiplex PCR assays market in 2023. The regions covered in the multiplex pcr assays market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies in the market are F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc, Abbott Laboratories, Danaher Corporation, Merck KGaA, Siemens Healthineers, Becton Dickinson and Company, Agilent Technologies Inc, PerkinElmer Inc, Illumina Inc, Sysmex Corporation, Bio-Rad Laboratories Inc, QIAGEN NV, Tecan Group Ltd, DiaSorin SpA, Bio-Techne Corporation, Promega Corporation, Randox Laboratories Ltd, BioFire Diagnostics Inc, Seegene Inc, Quanterix Corporation, NanoString Technologies, Standard BioTools Inc, Enzo Biochem Inc, SeraCare Life Sciences Inc, Agena Bioscience, Fluidigm Corporation
Table of Contents
1. Executive Summary
2. Multiplex PCR Assays Market Report Structure
3. Multiplex PCR Assays Market Trends And Strategies
4. Multiplex PCR Assays Market – Macro Economic Scenario
5. Multiplex PCR Assays Market Size And Growth
…..
27. Multiplex PCR Assays Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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