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Global Multiplex Detection Immunoassays Market Driven by Demand for Clinical Diagnostic Applications

By LabMedica International staff writers
Posted on 18 Oct 2022
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Image: The global multiplex detection immunoassays market is expected to hit around USD 3.7 billion by 2030 (Photo courtesy of Pexels)
Image: The global multiplex detection immunoassays market is expected to hit around USD 3.7 billion by 2030 (Photo courtesy of Pexels)

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. 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. The global multiplex detection immunoassays market was valued at USD 1.8 billion in 2020 and is projected to register a CAGR of 9.7% during the forecast period 2022 to 2030 to hit around USD 3.7 billion by 2030, driven mainly by the increasing demand for multiplex detection immunoassays for clinical diagnosis.

These are the latest findings of Nova One Advisor (Cleveland, OH, USA), a market research and consulting organization.

In terms of assay type, the planar assay segment accounted for the highest share of the global multiplex detection immunoassays market in 2020 and is anticipated to expand at a high CAGR during the forecast period, owing to a rise in the need and demand for diagnosis by patients. Based on technique, the protein-based techniques segment held a significant share of the global multiplex detection immunoassays market in 2020. In terms of application, the research & development segment accounted for a major share of the global multiplex detection immunoassays market in 2020.

Geographically, North America held a major share of the global multiplex detection immunoassays market in 2019 due to its highly structured healthcare industry, presence of key players in the region and their growth strategies. Rising awareness about benefits of procedures and increase in healthcare expenditure are likely to propel the growth of the multiplex detection immunoassays market in North America. Asia Pacific held the second-largest share of the global multiplex detection immunoassays market in 2019, driven by rising prevalence of chronic diseases and a well-developed healthcare sector in the region. The multiplex detection immunoassays market in Asia Pacific is likely to grow at a rapid pace during the forecast period on the back of an increase in product approvals, rising prevalence of cardiovascular diseases, and surge in awareness leading to routine checkups and diagnosis.

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