The multiplex assays market is projected to reach USD 3.76 billion by 2021 USD 2.66 billion in 2016, growing at a CAGR of 7.2% during the forecast period (2016–2021). In this report, the multiplex assays market is broadly segmented on the basis of product & service, type, technology, applications, end user, and region.
Adoption of Companion Diagnostics for Increasing Efficacy of Therapies, Advantages of Multiplexing Over Traditional Assays, and Need for Effective Analytical Platforms in Research to Reduce Operational Costs, and Will Boost the Growth of the Multiplex Assays Market.
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The multiplex assays market, based on the type, is categorized into nucleic acid-based assays and protein-based assays. Nucleic acid-based assays segment is further classified into planar nucleic acid assays and bead-based nucleic acid assays. The protein based assays segment is expected to be the fastest growing segment of the multiplex assays market in during the forecast period due to adoption of these assays in research purpose. Protein-based assays segment is further categorized into planar protein assays and bead-based protein assays. Based on the technology, the multiplex assays market is categorized into multiplex polymerase chain reaction, multiplex arrays, and other technologies. The multiplex arrays segment is further divided into planar arrays and bead-based arrays. The multiplex arrays segment is expected to be the fastest growing segment of the multiplex assays market in during the forecast period due to technological advancements emerging in this segment.
The U.S. is expected to account for the largest share of the multiplex assays market in 2016. Europe is the second-largest source for multiplex assays market; this regional market is driven by the availability of government funds for the research and development of multiplex assays. Asia-Pacific region is estimated to be the fastest growing region in the multiplex assays market during the forecast period due to the adoption of multiplex assays in this region.
New product launches is the dominant strategy adopted by key industry participants in the multiplex assays market to increase their market share and cater to unmet needs.
Major players in the multiplex assays market include Luminex Corporation (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Illumina, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), and QIAGEN N.V. (Netherlands).