Global Multiplex Detection Immunoassay Market Size by 2024

Global Market Study on Multiplex Detection
Immunoassay: North America to Dominate the
Global Market through 2024

P e r s i s t e n c e M a r k e t R e s e a r c h
Report Media Releases
Global Multiplex Detection Immunoassay Market to Reach
US$ 3.0 Bn by 2024 End
According to the latest market report published by Persistence Market Research titled ‘Global
Market Study on Multiplex Detection Immunoassay: North America to Dominate the
Global Market Through 2024 ’, the global multiplex detection immunoassay market is
expected to witness a CAGR of 7.5% during the forecast period 2016–2024.
Manufacturers in the global multiplex detection immunoassay market are focusing on introducing
differential products with enhanced safety and application to increase market share. This market
is significantly determined by the rising aging population, high pervasiveness of illnesses, rising
utilization and enhanced focus on diagnostic testing and expanding the use of multiplex
detection assay test procedures in clinical diagnostics. Moreover, concern in getting federal or
government approvals due to changes in medical procedures coupled with manufacturing
processes, fluctuation in result outcomes, and deficient reimbursements for multiplex detection
immunoassays are representing a few difficulties to the general growth of the market during the
forecast period.
The capacity of multiplex detection immunoassays is to produce reportable outcomes from one
example prompts to its more prominent reception for clinical or purpose of care diagnostics.
Multiplex immunoassays yield an abundance of data on the parts of various proteins and
different biomolecules in assorted natural procedures, in this way giving clinician’s knowledge
into the distinguishing proof and evaluation of disease progression. The aim for manufacturers is
to create assay kits with market driving technologies, problematic levels of multiplexing and
popularize these through bigger business partners.
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Multiplex stages can offer distinct advantages over singleplex measures. The requirement for
lower test input has been suggested as of now; commonly 25–50 µL test volume is required to
test different markers as compared with 100 µL per target required for ELISA. Moreover,
multiplex stages frequently give a pickup in examining dynamic range. While ELISA quickly loses
linearity over a couple orders of magnitude, multiplex assays are accounted for to keep up
linearity more than three or even five orders of magnitude.
The global multiplex detection immunoassay market is segmented into technique, assay type,
end users, and application. The planar assays segment is expected to exhibit the highest growth
over the forecast period. Currently, in the U.S. market, planar assays are the mostly used for
detection followed by the European market. The planar assay segment is expected to be the
most lucrative in the North America multiplex detection immunoassay market, exhibiting a CAGR
of 7.8%.
Based on technique, the market has been segmented into nucleic acid-based techniques,
protein-based techniques and biomarker-based techniques. Protein-based techniques currently
account for the highest revenue share in the market followed by nucleic acid-based techniques.
Increasing focus on disease predisposition studies and drug efficacy studies would create a
good opportunity for growth of multiplex detection immunoassay market.
Global Multiplex Detection Immunoassay Market 2016-2024

P e r s i s t e n c e M a r k e t R e s e a r c h
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Based on application, the market has been segmented into disease testing (infectious disease,
autoimmune disease, and others), food contamination testing, drug development and veterinary
disease testing. Drug development currently accounts for the highest revenue share in the
market followed by disease testing. Increasing focus on disease predisposition studies and drug
efficacy studies would create a good opportunity for growth of multiplex detection immunoassay
market.
Based on end users, the market has been segmented into pharmaceutical companies, clinical
research organizations, food & beverages companies, academic research institutes, diagnostic
centers and biotechnology companies. Currently pharmaceutical companies account for the
highest revenue share in the market followed by other end users. An increasing number of
multiplex assays labeled for research use only increase the growth prospects for academic
research institute end users in North America during the forecast period.
On the basis of region, the market has been segmented into North America, Latin America,
Europe, Asia-Pacific, and the MEA. This report assesses trends driving each market segment
and offers analysis and insights into the potential of multiplex detection immunoassay in specific
regions. North America is estimated to dominate the multiplex detection immunoassay market
with a maximum value share of the overall market by end of 2016. North America multiplex
detection immunoassay market is set to register a CAGR of 8.2% through 2024. The presence of
key regional players, strong distribution network, and developed healthcare infrastructure are the
key factors driving the growth of the market in North America.
Some key companies covered in this report include QIAGEN N.V, F. Hoffmann-La Roche AG,
EMD Millipore, Bio-Rad, Microsynh AG., Thermo Fisher Scientific Inc., BD biosciences, Luminex
Corporation, Unisensor, Quansys Bioscience, and Danaher Corporation. These companies are
primarily focused on enhancing their market share by entering new markets and by introducing
innovative and cost-effective immunoassays in order to gain higher market share and to
strengthen their respective position in the global market.
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Global Multiplex Detection Immunoassay Market 2016-2024

P e r s i s t e n c e M a r k e t R e s e a r c h
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Global Multiplex Detection Immunoassay Market 2016-2024