Multiplex Assay Market Size, Share, Opportunities, And Trends By Product (Consumables, Instruments, Software), By Type (Protein Multiplex Assays, Nucleic Acid Multiplex Assays, Cell-based Multiples Assays), By Technology (Flow Cytometry, Fluorescence Detection, Luminescence, Multiplex Real-time PCR, Other Technologies), And By Geography - Forecasts From 2023 To 2028

The multiplex assay market is estimated to grow at a CAGR of 7.74% during the forecast period.

A multiplex assay is a type of scientific technique used to simultaneously measure multiple analytes or targets in a single sample. This method is widely used in various fields, including biochemistry, molecular biology, medicine, and diagnostics. Multiple advantages of multiplex assay along with the expanding biotechnology sector are major growth drivers of the multiplex assay market.

Moreover, the growing adoption of personalized medicine coupled with the increasing prevalence of chronic disease and the rising elderly population is further expected to propel the multiplex assay market. 

Multiple Associated Advantages of Multiplex Assay

Multiplex assays provide several benefits in comparison to standard singleplex tests. These advantages make multiplex assays highly valuable in various research, diagnostic, and clinical applications thereby boosting the multiplex assay market. The most significant advantage of multiplex assays is their ability to analyze multiple analytes (e.g., proteins, nucleic acids, or other molecules) in a single sample simultaneously. Moreover, analyzing multiple analytes at once provides a more comprehensive and holistic view of biological processes, disease pathways, or drug responses.

Additionally, multiplex assays can improve diagnostic accuracy by considering multiple biomarkers or disease indicators. This reduces the likelihood of false positives or false negatives, leading to more reliable results and better patient outcomes.

Expanding Pharmaceutical Sector and Molecular Diagnostics

Continuous advancements in biotechnology, genomics, and proteomics have led to the identification of numerous potential biomarkers and therapeutic targets. As multiplex assay helps to assess the effects of potential drugs on multiple targets, thus expanding the pharmaceutical sector through drug development and research is contemplated to bolster the multiplex assay market. For instance, between 2010 and 2019, there was a 60 percent increase in the number of new drugs approved for sale compared to the previous decade in the US according to the Congressional Budget Office. Moreover, there are presently 5300+ biotech startups in India which are expected to reach 10,000 by 2025 as per the National Investment Promotion & Facilitation Agency. 

Growing Adoption of Personalized Medicine

The trend toward personalized medicine requires a comprehensive understanding of multiple biomarkers. Multiplex assays allow the simultaneous analysis of various genetic, proteomic, and molecular markers, aiding in the development of personalized treatment strategies.

The increasing adoption of personalized medicine and research in the field is expected to augment the multiplex assay market. For example, a NewYork-based startup Malla was launched in May 2023 to make functional and personalized medicine more accessible. Consumers can take a membership for $65 per month and book a one-to-one call for a personalized health plan. 

Increasing Burden of Chronic Disease and Geriatric Population

Multiplex assays have proven to be highly valuable tools in the study and management of chronic diseases. Multiplex assays can track changes in biomarker levels over time, providing insights into chronic disease dynamics. Therefore, the rising prevalence of chronic disease is anticipated to boost the multiplex assay market. For instance, the annual mortality toll from chronic illness is 41 million which accounts for 74% of all deaths worldwide according to the WHO.

Moreover, elderly people are more prone to diseases like cardiovascular, diabetes, and others simultaneously. The growing geriatric population further accelerates the need for multiplex assay. For instance, the percentage of people aged over 60 years worldwide will increase from 12% to 22% between 2015 and 2050 according to the WHO. 

Restraints in the Market 

The multiplex assay market has experienced growth and development however some restraints or challenges can impact its expansion. Cost is the significant limiting factor of multiplex assays. For example, the initial setup cost and ongoing expenses associated with multiplex assays can be relatively high. This includes the cost of equipment, reagents, and the need for specialized expertise in assay design and data analysis. Higher costs may limit the adoption of multiplex assays, particularly in resource-limited settings.

Moreover, designing and optimizing multiplex assays can be more complex than traditional singleplex assays. Developing multiplex assays requires careful consideration of factors such as cross-reactivity, sensitivity, and dynamic range for each analyte, which can be time-consuming and resource-intensive.

North America is Expected to Grow Considerably

North America is expected to hold a significant share of the multiplex assay market during the forecast period. The factors attributed to such a share are the higher prevalence of chronic diseases, the growing geriatric population, increasing R&D spending on drug development, and government support. For instance, spending on pharmaceuticals R&D surged by approximately 50% between 2015 and 2019 according to the Congressional Budget Office. Moreover, around 1 in 6 people in the US were aged 65 years or above in 2020 as per the United States Census Bureau which is further accelerating the demand for multiplex assay. 

Major Market Players

• Luminex is a leading company in the field of multiplex assay technology. The company's primary product is the Luminex xMAP (Multi-Analyte Profiling) technology. It is widely used for multiplexing assays in various research, diagnostic, and clinical applications.
• Promega Corporation is a global biotechnology company that specializes in providing innovative solutions for life sciences research, drug discovery, clinical diagnostics, and applied sciences. It offers an ApoLive-Glo™ multiplex assay which accurately determines cell mechanisms of cell death in less time with fewer samples. 
• R&D Systems specializes in providing high-quality reagents, antibodies, proteins, and assays for life sciences research, particularly in the fields of immunology, cell biology, and molecular biology. It offers Luminex® assays and Luminex high-performance assays with customization tools. 

Key Market Developments

• In February 2023, Quansys Biosciences launched a new NHP (non-human primate model) line of multiplex ELISA assays. It comprises four kits which can be customized using biomarkers from any other NHP kit to create custom layouts specific to the user’s needs. 
• In May 2022, Vela Diagnostics introduced a new multiplex PCR-based test called Pathokey® MPI UTI ID and AMR PCR, specifically designed for the detection of pathogens causing urinary tract infections (UTI) and antimicrobial resistance (AMR) genes. It enables in-vitro detection of 14 pathogens that cause UTI and 14 AMR genes in one run. 
• In April 2022, Bruker introduced an innovative LiquidArray® multiplex PCR assay, which includes three new additions to their product lineup.  The FluoroType® Mycobacteria PCR assay is designed to identify and differentiate 32 clinically significant mycobacteria species.  The FluoroType® STI PCR assay is capable of detecting seven major pathogens responsible for (STIs).  The MBT Compass HT IVD software enhances the speed of microbial identification on their MALDI Biotyper® platform.

Multiplex Assay Market Scope:

 

Report Metric	Details
Growth Rate	CAGR of 7.74% from 2021 to 2028
Base Year	2021
Forecast Period	2023 – 2028
Forecast Unit (Value)	USD Billion
Segments Covered	Product, Type, Technology, and Geography
Regions Covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies Covered	Luminex, Promega, Rndsystems (Biotechne Corporation), Eve Technologies, Sigma-Aldrich, Bio-Techne, Merck Millipore, Biocompare, Flagship Biosciences
Customization Scope	Free report customization with purchase

 

Segmentation:

• By Product
  • Consumables
  • Instruments
  • Software
• By Type
  • Protein Multiplex Assays
  • Nucleic Acid Multiplex Assays
  • Cell-based Multiples Assays
• By Technology
  • Flow Cytometry
  • Fluorescence Detection
  • Luminescence
  • Multiplex Real-time PCR
  • Other Technologies
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • The Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others

1.  INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. MULTIPLEX ASSAY MARKET, BY PRODUCT

5.1. Introduction

5.2. Consumables

5.3. Instruments

5.4. Software

6. MULTIPLEX ASSAY MARKET, BY TYPE

6.1. Introduction

6.2. Protein Multiplex Assays

6.3. Nucleic Acid Multiplex Assays

6.4. Cell-based Multiples Assays

7. MULTIPLEX ASSAY MARKET, BY TECHNOLOGY

7.1. Introduction

7.2. Flow Cytometry

7.3. Fluorescence Detection

7.4. Luminescence

7.5. Multiplex Real-time PCR

7.6. Other Technologies

8. MULTIPLEX ASSAY MARKET, BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. United States

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1. Brazil

8.3.2. Argentina

8.3.3. Others

8.4. Europe

8.4.1. United Kingdom

8.4.2. Germany

8.4.3. France

8.4.4. Spain

8.4.5. Others

8.5. The Middle East and Africa

8.5.1. Saudi Arabia

8.5.2. UAE

8.5.3. Israel

8.5.4. Others

8.6. Asia Pacific

8.6.1. Japan

8.6.2. China

8.6.3. India

8.6.4. South Korea

8.6.5. Indonesia

8.6.6. Thailand

8.6.7. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Vendor Competitiveness Matrix

10. COMPANY PROFILES

10.1. Luminex

10.2. Promega 

10.3. Rndsystems (Biotechne Corporation)

10.4. Eve Technologies

10.5. Sigma-Aldrich

10.6. Bio-Techne

10.7. Merck Millipore

10.8. Biocompare

10.9. Flagship Biosciences

Luminex

Promega 

Rndsystems (Biotechne Corporation)

Eve Technologies

Sigma-Aldrich

Bio-Techne

Merck Millipore

Biocompare

Flagship Biosciences