Global Multiplex Assays Market Assessment, By Product [Instruments and Accessories, Reagents and Consumables, Software and Services], By Type [Nucleic Acid Multiplex Assays, Protein Multiplex Assays, Cell-based Multiplex Assays], By Technology [Protein Microarray, Polymerase Chain Reaction, Fluorescence Detection, Flow Cytometry, Multiplex Real-Time PCR, Luminescence, Others], By Application [Clinical Diagnostics, Research and Development], By End-user [Pharmaceutical and Biotechnology Companies, Hospitals, Academic and Research Institutes, Clinical Laboratories, Others], By Region, Opportunities and Forecast, 2017-2031F

Global multiplex assays market is projected to witness a CAGR of 10.16% during the forecast period 2024-2031, growing from USD 3.19 billion in 2023 to USD 6.92 billion in 2031.

Multiplex Assays Market Size, Share, Trends, Forecasts 2031

Global multiplex assays market&nbsp;is projected to witness a&nbsp;CAGR of 10.16%&nbsp;during the forecast period 2024-2031, growing from&nbsp;USD 3.19 billion&nbsp;in 2023 to&nbsp;USD 6.92 billion&nbsp;in 2031. The market&rsquo;s expansion is boosted by the increasing prevalence of autoimmune, chronic, and infectious diseases, rising investments towards drug development and discovery, and growing applications of multiplex assays. Detection of autoantibodies is essential in cancer, autoimmune, cytokine, and infectious disease research and multiplex analysis aids researchers in measuring several autoantibodies from one sample, increasing time efficiency. Thus, propelling the requirement for multiplex assays for clinical and life science applications.
The increasing cases of cancer in various regions across the globe are propelling the global multiplex assays market demand. As per the estimates of the National Cancer Institute, 2,001,140 new cases of cancer are expected to be diagnosed in the United States in 2024. Circulating cancer biomarker bead-based multiplex assays that use Luminex technology allow the simultaneous analysis of multiple oncology biomarkers in several types of tumors. They are also aiding in supporting advancements in immune-oncology, lung cancer, and breast cancer research. Detecting isolated protein biomarkers is not often sufficient for distinguishing non-tumor from tumor, the deployment of multiplexed detection of circulating and intracellular cancer markers with the help of multiplex assays can boost the acceleration of studies related to tumorigenic processes and normal homeostasis.
<h2 style="text-align: justify;">Rising Autoimmune Cases Boost Market Demand</h2>
The rising cases of autoimmune diseases are positively influencing the growth of the market as multiplex autoantibody assays are capable of detecting several autoantibodies that are present in a wide range of patients with systemic autoimmune diseases, including rheumatoid arthritis and systemic lupus erythematosus, in one run. According to estimates from the Johns Hopkins Medicine, autoimmune diseases affect approximately 3% of the population of the United States. The correct interpretation and usage of serological testing for providing a diagnosis of autoimmune disease presents various challenges because of the specificity and sensitivity of tests that are used for detecting autoimmune diseases and the provision of different results by techniques such as MBAA and indirect immunofluorescence that are used for detecting autoantibodies. Multiplex immunoassays also provide a wide range of advantages, including the ability to deliver more information from the sample in a time-efficient manner.
<h2 style="text-align: justify;">Increasing Investments in Drug Development Boost Market Growth</h2>
The rising emphasis towards drug development and discovery is one of the major factors boosting the global multiplex assays market size. Drug discovery aids the pharmaceutical sector in determining the molecular entities that can be beneficial in treating diseases. The various steps associated with the drug development process aid in assessing the safety, efficacy, and the various risks associated with the drugs. Thus, various companies actively invest in the development of solutions that are capable of increasing the speed of the different steps essential in drug development and discovery. For instance, in March 2024, Semarion Ltd, a spin-out company of the University of Cambridge, introduced their SemaCyte Multiplexing Platform that is designed for augmenting the speed and quality of data generation. The multiplexing platform was developed with the help of the company&rsquo;s microarray technology and is designed to provide flexibility and resource efficiency and a more systemized route for conducting cell assays.
<h2 style="text-align: justify;">North America Accounts for Significant Market Share</h2>
The growth of the market in North America is supported by the rising cases of chronic and infectious diseases in the region, increasing investments by healthcare and biotechnology companies towards the development of advanced technologies, a high rate of acceptance of novel technological solutions, and rapid expansion of the healthcare sector. Furthermore, the strong presence of biotechnology companies in the region, coupled with increasing investments to promote the development of novel solutions, is also supporting the market&rsquo;s expansion in North America. For instance, in June 2024, RareCyte, Inc., one of the leading life science companies, announced the completion of funding of USD 20 million from existing and new investors. This funding is expected to support the company in boosting the expansion of the Orion Spatial Biology platform, which includes commercializing software applications, multiplex assays, and reagent products.
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<h2 style="text-align: justify;">Protein Multiplex Assays Expected to Witness Significant Growth</h2>
The segment&rsquo;s expansion is supported by the increasing investments and emphasis on proteomics studies for clinical diagnosis and biomarker research. In October 2023, Thermo Fisher Scientific Inc. acquired Olink for USD 3.1 billion to expand its presence in the proteomics sector. The latter provides a platform of products and services that are proteomics-focused; their proximity extension assay (PEA) technology has been designed to enable high throughput. Such acquisitions underscore the impact that the field of proteomics has had on advancements in precision medicine and life science research, among others. The rising investments towards the research and development activities by various pharmaceutical companies and research institutions towards protein multiplex assays also bolster the growth of the segment. These assays also provide a wide range of advantages regarding the sample requirements and the amount of data generated, along with time and cost efficiency.
Future Market Scenario&nbsp;(2024-2031F)
According to the global multiplex assays market analysis, the rising cancer cases are expected to provide lucrative growth opportunities to the market. The American Cancer Society estimates that the number of cases of cancer will reach 35 million by 2050. This rise is anticipated to propel the market demand as it aids in enhancing the understanding of the role of various immune regulators in cancer and quantitative profiling of co-stimulating and co-inhibitory immune checkpoint proteins. Additionally, the rising cases of infectious diseases are also supporting the expansion of the market as multiplex testing supports the detection of multiple loci or analytes from several pathogens in a single well. Furthermore, the growth of the market is also supported by the rising research and development activities by various biotechnology companies and research institutions across the globe. For instance, the Oslo University Hospital is conducting an interventional study that is expected to conclude in December 2025 to assess the clinical utility of circulating tumor DNA assays in patients that have advanced malignancies. The project aims to evaluate the extent to which the circulating tumor DNA assays are relevant in clinical decision-making.
Report Scope
&ldquo;Multiplex Assays Market Assessment, Opportunities and Forecast, 2017-2031F&rdquo;, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of the global multiplex assays market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031F. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
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Details
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Base Year of the Analysis
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2023
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Historical Period
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2017-2022
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Forecast Period
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2024-2031
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Projected Growth Rate
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CAGR of 10.16% between 2024-2031
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Revenue Forecast in 2031
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USD 6.92 billion
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Segments Covered
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Product, Type, Technology, Application, End-user
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Regions Covered
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North America, Europe, South America, Asia-Pacific, Middle East and Africa
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Key Companies Profiled
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Thermo Fisher Scientific Inc., Illumina, Inc., Bio-Rad Laboratories, Inc., QIAGEN N.V., Becton, Dickinson and Company, DiaSorin S.p.A., Seegene, Inc., Abcam Limited, MESO SCALE DIAGNOSTICS, LLC, Merck KGaA
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Customization Scope
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15% free report customization with purchase
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Pricing and Purchase Options
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Avail the customized purchase options to fulfill your precise research needs
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Delivery Format
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PDF and Excel through email (subject to the license purchased)
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In this report, the&nbsp;global&nbsp;multiplex assays&nbsp;market&nbsp;has been segmented into the following categories:
<ul style="text-align: justify;">
<li>By Product
<ul>
<li>Instruments and Accessories</li>
<li>Reagents and Consumables</li>
<li>Software and Services</li>
</ul>
</li>
<li>By Type
<ul>
<li>Nucleic Acid Multiplex Assays
<ul>
<li>Planar Nucleic Acid Assays</li>
<li>Bead-based Nucleic Acid Multiplex Assays</li>
<li>Others</li>
</ul>
</li>
<li>Protein Multiplex Assays
<ul>
<li>Planar Protein Assays</li>
<li>Bead-based Protein Assays</li>
<li>Others</li>
</ul>
</li>
<li>Cell-based Multiplex Assays</li>
</ul>
</li>
<li>By Technology
<ul>
<li>Protein Microarray</li>
<li>Polymerase Chain Reaction</li>
<li>Fluorescence Detection</li>
<li>Flow Cytometry</li>
<li>Multiplex Real-Time PCR</li>
<li>Luminescence</li>
<li>Others</li>
</ul>
</li>
<li>By Application
<ul>
<li>Clinical Diagnostics
<ul>
<li>Cancer</li>
<li>Infectious Diseases</li>
<li>Autoimmune Diseases</li>
<li>Metabolism and Endocrinology Disorders</li>
<li>Nervous System Disorders</li>
<li>Cardiovascular Diseases</li>
<li>Others</li>
</ul>
</li>
<li>Research and Development
<ul>
<li>Biomarker Discovery and Validation</li>
<li>Drug Discovery and Development</li>
</ul>
</li>
<li>By End-user
<ul>
<li>Pharmaceutical and Biotechnology Companies</li>
<li>Hospitals</li>
<li>Academic and Research Institutes</li>
<li>Clinical Laboratories</li>
<li>Others</li>
</ul>
</li>
<li>By Region
<ul>
<li>North America</li>
<li>South America</li>
<li>Europe</li>
<li>Asia-Pacific</li>
<li>Middle East and Africa</li>
</ul>
</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
The increasing efforts of the key players of the market towards the development of advanced solutions is one of the major factors bolstering the global multiplex assays market growth. In April 2024, Bio-Rad Laboratories, Inc. announced the launch of the ddPLEX&nbsp;ESR1&nbsp;mutation detection kit, an ultrasensitive multiplexed digital PCR assay that enables quantification, discrimination, and detection of seven ESR1 mutations and allows customers to achieve multiplexing and sensitivity, without compromising throughput. Such developments showcase the dedication of the key market players to provide new technologies to cancer researchers that will enable everything that boosts improvement in patient monitoring.
The growth of the market is also supported by the increasing introduction of novel products and technologies by the key players in the market in various geographical locations. In February 2023, Thermo Fisher Scientific Inc. launched PCR kits for detecting infectious diseases in India. The Applied Biosystems TaqPath PCR kits have been clinically and analytically validated for use in diagnosis and disease screening, identification of risk factors that are genetic, and monitoring of disease progression and therapeutic responses in patients. Such efforts showcase the dedication of the company for providing new workflows and innovation to enhance diagnostic solutions and advance research of infectious diseases.
Key Players Operating in the Global Multiplex Assays&nbsp;Market are:
<ul style="text-align: justify;">
<li>Thermo Fisher Scientific Inc.</li>
<li>Illumina, Inc.</li>
<li>Bio-Rad Laboratories, Inc.</li>
<li>QIAGEN N.V.</li>
<li>Becton, Dickinson and Company</li>
<li>DiaSorin S.p.A.</li>
<li>Seegene, Inc.</li>
<li>Abcam Limited</li>
<li>MESO SCALE DIAGNOSTICS, LLC</li>
<li>Merck KGaA</li>
</ul>
Markets and Data report answers the following questions:
<ul style="text-align: justify;">
<li>What is the current and future market size of the product/service in question globally or specific to different countries?</li>
<li>How are the markets divided into different product/service segments and the market size and growth of each segment?</li>
<li>What is the market potential of different product segments and their investment case?</li>
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<li>What is the business environment and regulatory landscape specific to the product/service?</li>
</ul>
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Global Multiplex Assays Market Assessment, Opportunities and Forecast, 2017-2031F

Global multiplex assays market is expected to experience significant growth over the forecast period owing to rising investments in drug development and discovery and increasing cases of cancer and autoimmune diseases.

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