The Latin America, Middle East and Africa Multiplex Assay Market would witness market growth of 13.5% CAGR during the forecast period (2021-2027).
Multiplex assays are research assays that evaluate numerous analytes simultaneously in a single run. It's unlike the techniques that just measure a single analysis at a time. They're frequently utilized in functional genomics investigations. These studies aimed to detect or assess the status of all biomolecules of a specific class (e.g., mRNAs and proteins) in a biological sample in order to evaluate the influence of an experimental treatment or a DNA mutation on all of the biomolecules or pathways in the sample.
Due to a rise in R&D activities across the pharmaceutical sector for the treatment of various ailments, the multiplex assay market is witnessing a substantial expansion. These assays are employed in clinical trials because they save research costs and manual labor while enhancing the efficiency of experiments and medicines. Moreover, because they are automated and allow for quicker and faster illness analysis, the multiplex assay market is expected to rise in the coming years.
As stated in the data shared by the National Library of Medicines, the prevalence of breast cancer is significantly high in Africa. For instance, in 2018, breast cancer caused 74,072 deaths in the country. In such a scenario, the demand for multiplex assays is likely to expedite in upcoming years. Moreover, according to the data shared by the PubMed central to the national library of medicine, The National Reference Laboratory (NRL) in Buenos Aires, Argentina, examined 100 fecal samples.
The Brazil market dominated the LAMEA Multiplex Assay Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $55.6 million by 2027. The Argentina market would experience a CAGR of 14.1% during (2021 - 2027). Additionally, The UAE market is expected to witness a CAGR of 13.2% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Multiplex Assay Market is Predict to reach $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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