Multiplex Detection Immunoassays Market Size Worth $3.7 Mn by 2030 | CAGR 9.7% – Nova One Advisor


Latest Study on “Multiplex Detection Immunoassays Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030”.

The global Multiplex Detection Immunoassays market size is expected to be worth around US$ 3.7  billion by 2030, according to a new report by nova one advisor.

The global Multiplex Detection Immunoassays market size was valued at US$ 1.8 billion in 2020 and is anticipated to grow at a CAGR of 9.7% during forecast period 2021 to 2030.

Overview of Multiplex Detection Immunoassays Market Study

Multiplex Detection Immunoassays market study conducted by Nova One Advisor is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies and their customers to make informed decision to sustain growth through the assessment period.

NOTE: Our report highlights the major issues and hazards that companies might come across due to the unprecedented outbreak of COVID-19.

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Growth Factors:

Multiplex immunoassays provide sufficient analytical performance to evaluate serum biomarkers that complement each other in the detection of a larger number of patient samples. The use of differentially detectable beads of different regions enables simultaneous identification and quantification of multiple analytes in the same sample allowing the individual immunoassays to be multiplexed.

In terms of assay type, the global multiplex detection immunoassays market has been bifurcated into planar assay and bead-based assay. The planar assay segment has been split into blends protein arrays (multiplexed ELISA) and antibody arrays. The bead-based assay sub-segment has been segregated into magnetic bead-based and non-magnetic bead-based. The planar assay segment accounted for prominent share of the global multiplex detection immunoassays market in 2019. The segment is anticipated to expand at a high CAGR during the forecast period, owing to rise in the need and demand for diagnosis by patients.

Rise in Demand for Clinical Diagnosis Applications to Propel Market Growth
Multiplex detection immunoassays are increasingly being used in a wide range of applications, including infectious disease testing, food contamination testing, veterinary disease testing, and R&D activities. The increasing demand for multiplex detection immunoassays for clinical diagnosis is expected to accelerate the development of multiplex detection immunoassays in the upcoming years– a factor that is set to fuel the growth of the market for global multiplex detection immunoassays during the assessment period. Prosthetic joint replacements are primarily used to enhance the quality of life, restore the joint function, and improve mobility. Although prosthetic joint replacement is a globally accepted treatment, prosthetic joint infection is one of the major causes of knee arthroplasties, which makes early diagnosis critical. This is set to drive the demand for multiplex detection immunoassays.

As a measure to prevent prosthetic joint infection, a number of immunoassays are available to assist in the early detection of infections out of which, lateral flow multiplex detection immunoassay is at the forefront in terms of adoption due to the low-costs, speed, and simplicity.

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Point-of-care Testing to Aid Market Growth
The noteworthy surge in the demand for point of care diagnostic devices for rapid initial screening in various non-laboratory setting is another factor that is anticipated to provide a considerable boost to the growth of the global multiplex detection immunoassays market during the assessment period. The demand for ‘near-patient tests’ is on the rise, owing to its high patient convenience. Some of the most widely used point-of-care tests include blood glucose tests, drug screenings, and food pathogens. At present, a range of point-of-care immunoassays is available to determine the presence of various pathogens and substances, and efforts are being made to improve the quality and performance of the same, thus driving the multiplex detection immunoassays market during the assessment period.

Researchers Focus on Development of Multiplex Immunoassay for Simultaneous Detection of Human Coronaviruses
The outbreak of the COVID-19 pandemic is projected to have a strong impact on the growth of the global multiplex detection immunoassays market. Research and development activities are expected to gain considerable traction across the global multiplex detection immunoassays market during the ongoing COVID-19 health crisis. At present, scientists and researchers are increasingly focusing on the development of multiplex serologic assays to enable swift detection and surveillance of known human coronaviruses. Research and development activities are anticipated to set the tone for the growth of the global multiplex detection immunoassays market in the upcoming years.

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COVID-19 Impact on Multiplex Detection Immunoassays Sales

Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Multiplex Detection Immunoassays market.

Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.

Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.

Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Multiplex Detection Immunoassays market 2021 onwards. This trend will however continue through the course of the report’s assessment period

Key Players:

This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Multiplex Detection Immunoassays market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.

Some of the prominent players in the Multiplex Detection Immunoassays market include:

Hoffmann-La Roche Ltd., QIAGEN, Merck KGaA, Microsynth AG, Bio-Rad Laboratories, Thermo Fisher Scientific, Luminex Corporation, and Becton, Dickinson and Company.

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects includingproduct type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2030 and covers subsequent region in its scope:

Global Multiplex Detection Immunoassays Market: Segmentation
Multiplex Detection Immunoassays Market, by Assay Type

  • Planar Assay
  • Blends Protein Arrays (Multiplexed ELISA)
  • Antibody Arrays
  • Bead-based Assay
  • Magnetic Bead-based
  • Non-magnetic Bead-based

Multiplex Detection Immunoassays Market, by Technique

  • Nucleic Acid-based Techniques
  • Protein-based Techniques
  • Biosensor-based Techniques

Multiplex Detection Immunoassays Market, by Application

  • Disease Testing
  • Infectious Disease Testing
  • Autoimmune Disease Testing
  • Other Diseases Testing
  • Food Contamination Testing
  • Research & Development
  • Veterinary Disease Testing

Multiplex Detection Immunoassays Market, by End User

  • Pharmaceutical & Biopharmaceutical Companies
  • Clinical Research Organizations
  • Food & Beverages Industry
  • Academic & Research Institutes
  • Diagnostic Centers
  • Others

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Why Buy this Report?

The purpose of Nova one advisor’s Multiplex Detection Immunoassays market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

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James Root

James Root have over 6+ years of experience working in business development, and customer retention. I’ve gained my experience through serving higher education, healthcare, automotive, aerospace, manufacturing, local government and hospitality businesses with technical solutions.

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