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Global Multiplexed Diagnostics Market is valued approximately at USD 14.03 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 14.5% over the forecast period 2024-2032. Multiplexing refers to the simultaneous detection or identification of multiple biomarkers within a single diagnostic test, presenting immense value for diagnosing a plethora of diseases. This capability is particularly significant for detecting and identifying the most common causes of infectious diseases directly from clinical specimens, benefiting patient care, hospital infection control practices, and epidemiologic studies. The market for multiplexed diagnostics has experienced notable growth due to the increasing prevalence of chronic diseases such as infectious diseases, cardiac disorders, and respiratory and allergic conditions, necessitating precise diagnostics for multiple biomarkers or analytes in a single assay. This reduces time and resource consumption compared to performing individual tests, thus driving market expansion.
The shift towards personalized medicine, which necessitates customized treatments based on individual genetic profiles, further fuels the demand for multiplexed diagnostics. Technological advancements, including the development of microarrays, bead-based assays, and next-generation sequencing, have significantly broadened the scope of multiplexed diagnostics, enabling the identification of various biomarkers with enhanced precision. Moreover, the rising number of key market players focusing on improving their product portfolios through strategic partnerships and innovations propels market growth. For instance, in January 2023, Agilent Technologies, Inc. partnered with Akoya Biosciences, Inc. to develop multiplex-immunohistochemistry diagnostic solutions for tissue analysis, integrating their respective technologies to create a comprehensive commercial workflow. Additionally, multiplexed diagnostics play a crucial role in drug development and clinical trials by providing insights into biomarker profiles, patient stratification, and treatment responses, accelerating the development of new therapies. The increase in R&D activities globally and collaborations between diagnostic companies, pharmaceutical firms, and research institutions have led to the development of multiplexed assays with both diagnostic and therapeutic applications, creating lucrative opportunities for market growth. However, high costs associated with multiplexed diagnostic ad data privacy and cybersecurity concerns are factors hindering the market growth.
The key regions considered for the Global Multiplexed Diagnostics market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America accounted for a major share of the multiplexed diagnostics market in 2023 and is expected to maintain its dominance during the forecast period. This dominance is attributed to the presence of key players, rising prevalence of chronic and infectious diseases, and significant R&D activities in multiplexed diagnostics. For instance, PerkinElmer offers a range of diagnostic and research solutions, including multiplexed assays for biomarker discovery and validation, contributing to regional market growth. Asia-Pacific is expected to grow at the fastest rate during the forecast period, driven by increasing healthcare IT spending and expanding healthcare infrastructure in developing countries such as China, India, and Japan.
Major market players included in this report are:
- Siemens Healthineers AG
- DiaSorin S.p.A.
- Illumina Inc.
- F. Hoffmann-La Roche Ltd.
- Co-Diagnostics, Inc.
- Bio-Rad Laboratories Inc.
- Thermo Fisher Scientific Inc.
- Hologic Inc.
- Agilent Technologies, Inc.
- BioMerieux SA
- PerkinElmer Inc.
- Luminex Corporation
- Seegene Inc.
- Becton, Dickinson and Company
- Merck KGaA
The detailed segments and sub-segment of the market are explained below:
By Product Type:
- Instruments and Accessories
- Kits and Reagents
By Application:
- Infectious Disease
- Oncology
- Autoimmune Diseases
- Cardiac Diseases
- Allergies
- Others
By End User:
- Hospitals
- Diagnostic Centers
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Rest of Middle East and Africa
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global Multiplexed Diagnostics Market Executive Summary
- 1.1. Global Multiplexed Diagnostics Market Size & Forecast (2022-2032)
- 1.2. Regional Summary
- 1.3. Segmental Summary
- 1.3.1. By Product Type
- 1.3.2. By Application
- 1.3.3. By End User
- 1.4. Key Trends
- 1.5. Recession Impact
- 1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Multiplexed Diagnostics Market Definition and Research Assumptions
- 2.1. Research Objective
- 2.2. Market Definition
- 2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
- 2.3.3.1. Availability
- 2.3.3.2. Infrastructure
- 2.3.3.3. Regulatory Environment
- 2.3.3.4. Market Competition
- 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
- 2.3.4.1. Regulatory frameworks
- 2.3.4.2. Technological Advancements
- 2.3.4.3. Environmental Considerations
- 2.3.4.4. Consumer Awareness & Acceptance
- 2.4. Estimation Methodology
- 2.5. Years Considered for the Study
- 2.6. Currency Conversion Rates
Chapter 3. Global Multiplexed Diagnostics Market Dynamics
- 3.1. Market Drivers
- 3.1.1. Increase in prevalence of chronic diseases
- 3.1.2. Surge in demand for personalized medicine
- 3.1.3. Technological advancements in multiplexing
- 3.2. Market Challenges
- 3.2.1. High costs associated with multiplexed diagnostics
- 3.2.2. Data privacy and cybersecurity concerns
- 3.3. Market Opportunities
- 3.3.1. Role in drug development and clinical trials
- 3.3.2. Collaborations and partnerships
- 3.3.3. Increase in R&D activities
Chapter 4. Global Multiplexed Diagnostics Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top investment opportunity
- 4.4. Top winning strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Multiplexed Diagnostics Market Size & Forecasts by Product Type 2022-2032
- 5.1. Segment Dashboard
- 5.2. Global Multiplexed Diagnostics Market: Product Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Instruments and Accessories
- 5.2.2. Kits and Reagents
Chapter 6. Global Multiplexed Diagnostics Market Size & Forecasts by Application 2022-2032
- 6.1. Segment Dashboard
- 6.2. Global Multiplexed Diagnostics Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Infectious Disease
- 6.2.2. Oncology
- 6.2.3. Autoimmune Diseases
- 6.2.4. Cardiac Diseases
- 6.2.5. Allergies
- 6.2.6. Others
Chapter 7. Global Multiplexed Diagnostics Market Size & Forecasts by End User 2022-2032
- 7.1. Segment Dashboard
- 7.2. Global Multiplexed Diagnostics Market: End User Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Hospitals
- 7.2.2. Diagnostic Centers
- 7.2.3. Others
Chapter 8. Global Multiplexed Diagnostics Market Size & Forecasts by Region 2022-2032
- 8.1. North America Multiplexed Diagnostics Market
- 8.1.1. U.S. Multiplexed Diagnostics Market
- 8.1.1.1. Product Type breakdown size & forecasts, 2022-2032
- 8.1.1.2. Application breakdown size & forecasts, 2022-2032
- 8.1.1.3. End User breakdown size & forecasts, 2022-2032
- 8.1.2. Canada Multiplexed Diagnostics Market
- 8.1.2.1. Product Type breakdown size & forecasts, 2022-2032
- 8.1.2.2. Application breakdown size & forecasts, 2022-2032
- 8.1.2.3. End User breakdown size & forecasts, 2022-2032
- 8.2. Europe Multiplexed Diagnostics Market
- 8.2.1. UK Multiplexed Diagnostics Market
- 8.2.2. Germany Multiplexed Diagnostics Market
- 8.2.3. France Multiplexed Diagnostics Market
- 8.2.4. Italy Multiplexed Diagnostics Market
- 8.2.5. Spain Multiplexed Diagnostics Market
- 8.2.6. Rest of Europe Multiplexed Diagnostics Market
- 8.3. Asia Pacific Multiplexed Diagnostics Market
- 8.3.1. China Multiplexed Diagnostics Market
- 8.3.2. India Multiplexed Diagnostics Market
- 8.3.3. Japan Multiplexed Diagnostics Market
- 8.3.4. Australia Multiplexed Diagnostics Market
- 8.3.5. South Korea Multiplexed Diagnostics Market
- 8.3.6. Rest of Asia Pacific Multiplexed Diagnostics Market
- 8.4. Latin America Multiplexed Diagnostics Market
- 8.4.1. Brazil Multiplexed Diagnostics Market
- 8.4.1.2. Mexico Multiplexed Diagnostics Market
- 8.4.2. South Africa Multiplexed Diagnostics Market
- 8.5. Middle East and Africa Multiplexed Diagnostics Market
- 8.5.1. Saudi Arabia Multiplexed Diagnostics Market
- 8.5.2. South Africa Multiplexed Diagnostics Market
- 8.5.3. Rest of Middle East & Africa Multiplexed Diagnostics Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. Siemens Healthineers AG
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Market Strategies
- 9.3.2. DiaSorin S.p.A.
- 9.3.3. Illumina Inc.
- 9.3.4. F. Hoffmann-La Roche Ltd.
- 9.3.5. Co-Diagnostics, Inc.
- 9.3.6. Bio-Rad Laboratories Inc.
- 9.3.7. Thermo Fisher Scientific Inc.
- 9.3.8. Hologic Inc.
- 9.3.9. Agilent Technologies, Inc.
- 9.3.10. BioMerieux SA
- 9.3.11. PerkinElmer Inc.
- 9.3.12. Luminex Corporation
- 9.3.13. Seegene Inc.
- 9.3.14. Becton, Dickinson and Company
- 9.3.15. Merck KGaA
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
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