The Europe Multiplex Assay Market would witness market growth of 9.3% CAGR during the forecast period (2021-2027).
Multiplex assays are used in a variety of domains of life science, including functional genomics, to detect multiple types of biomolecules, including proteins and DNA, at the same time. Unlike traditional assays, multiplex methods need only a single assay to run at a time intending to avoid the risk of subtle variations while running multiple assays simultaneously.
Numerous companies are utilizing a number of combination therapies in order to effectively diagnose multiple diseases and disorders. Various experiments are going on to assess combinations of numerous drugs to discover new treatment for chronic diseases. Hence growing utilization of multiplex assays would rise the popularity of this treatment method across healthcare sector.
According to the data shared by the World Health Organization, an estimate of 4.6 million cases of cancer are being recorded each year across this region. Additionally, cancer is the cause of nearly 2.1 million deaths in this region. Lung cancer is registered as the type of cancer causing 20% of overall cancer deaths. Since these assays are widely used in the diagnosis of cancer and therefore, the multiplex assays market is anticipated to flourish across this region.
The Germany market dominated the Europe Multiplex Assay Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $288.5 million by 2027. The UK market would exhibit a CAGR of 8.5% during (2021 - 2027). Additionally, The France market is anticipated to grow a CAGR of 10.1% during (2021 - 2027).
Based on Product, the market is segmented into Reagents & Consumables, Instruments & Accessories, and Software & Services. Based on Type, the market is segmented into Protein Based Multiplex Assays, Nucleic Acid-Based Multiplex Assay, and Others. Based on End user, the market is segmented into Pharmaceutical & Biotechnology Companies, Research Institutes, Clinical Laboratories, and Hospitals. Based on Application, the market is segmented into Research & Development, Clinical Diagnostics, and Companion Diagnostics. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Multiplex Assay Market Size will Hit $4 Billion by 2027, at a CAGR of 9.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Becton, Dickinson and Company, Seegene, Inc., Randox Laboratories Limited, Illumina, Inc., Qiagen N.V., DiaSorin S.p.A. (Luminex Corporation), Abcam plc, and Meso Scale Diagnostics LLC.
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