According to a new report Global Multiplex Assay Market, published by KBV research, The Global Multiplex Assay Market size is expected to reach $4 billion by 2027, rising at a market growth of 9.8% CAGR during the forecast period.
The Reagents & Consumables market acquired maximum revenue share in the Global Multiplex Assay Market by Product 2020, achieving a market value of $2.4 billion by 2027. The growth of this segment is owing to the increasing demand for consumables, as well as the frequent purchase of assays and reagents for expanding research applications. Moreover, reagents are commonly being utilized across laboratories due to the fact that bindings of reagents into related substances can induce various reactions and can help in discovering new treatment methods.
The Protein Based Multiplex Assays market shows high growth rate of 9.4% during the forecast period. The growth of this segment is attributed to the increased use of protein-based multiplex tests across the world. In addition, the number of investments in R&D to bring new technology to market in order to enhance the procedure is also a factor that is driving the growth of this segment of the multiplex assays market.
The Pharmaceutical & Biotechnology Companies market segment has high growth rate of 8.9% during the forecast period. The pharmaceutical businesses are increasingly using multiplex assays for drug research and development, and biotechnology companies are focusing more on generating monoclonal and biosimilars antibodies. In addition, in biotechnology companies, multiplex assays are widely being utilized with the purpose to bring new innovations across the market.
The Research & Development market is generating high revenue in the Global Multiplex Assay Market by Application 2020, achieving a market value of $2.2 billion by 2027. The growth of this segment can be attributed to the increasing number of market players utilizing multiplex assays in numerous types of research intending to bring developments across the pharmaceutical and healthcare sector.
The North America market is the fastest growing region in the Global Multiplex Assay Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1.7 billion by 2027. The Europe market is expected to witness a CAGR of 9.3% during (2021 - 2027). Additionally, The Asia Pacific market is expected to witness a CAGR of 9.9% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/multiplex-assay-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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