The global multiplex detection immunoassay market is set to be valued at over US$ 2 Bn by 2019 end, with the market expected to exhibit a healthy CAGR during the forecast period (2019 – 2029). Rapid, low sample consumption, and cost-effective are features offered by lab-on-chip technology, which is propelling the multiplex detection immunoassay market to new heights. Several multiplex detection immunoassay products with lab-on-chip technology are currently available in the market for quantitative test of thyroid disorders. For instance, 3D microfluidic chips are used in multiplex bioassays for environmental, clinical and biomedical applications.
Key Takeaways - Multiplex Detection Immunoassay Market Study
- Minimum quantification and reduced overall reaction time are expected to boost the demand for planar-based multiplex detection immunoassay 2X during the forecast period
- Among the technique type, protein-based is anticipated to hold large chunk of the multiplex detection immunoassay market
- Owing to increasing focus on disease predisposition and drug efficacy studies, research and development is expected to gain significant market share in the multiplex detection immunoassay market
- North America is expected to be significant revenue generator in the multiplex detection immunoassay market owing to emergence of several regional market players and well-developed healthcare infrastructure
- In terms of end user, pharmaceutical companies are expected to dominate the multiplex detection immunoassay market in terms of revenue
Increasing adoption of multiplex detection immunoassay over conventional ELISA as well as technological advancement such as second generation multiplex immunoassay have boosted growth of the multiplex detection immunoassay market.
Increasing Focus on Nanoarrays to Spur Multiplex Detection Immunoassay Market Growth
One of the key factors observed to impact the multiplex detection immunoassay market growth is the development of new and innovative arrays such as Nano arrays. During the last few years, planar-based multiplex detection immunoassay has emerged as a preferred method for clinical diagnosis as well as food contamination detection. The significant development in nanosciences has taken nano multiplex detection immunoassay arrays to next level, representing ultra-miniaturized version of conventional microarray.
With the development of advanced nano array technology, drug screening process has become more rapid and time effective. These nanoarrays are also being used in the field of proteomics, as these require small amount of sample. For instance, BioForce Nanosciences launched BioForce NanoArray on which 1,500 different analytes can be measured. Thus, the development of nano multiplex detection immunoassay arrays are anticipated to favor growth of the multiplex detection immunoassay market.
Know More About the Report
The multiplex detection immunoassay market, a new study from Persistence Market Research, provides unparalleled insights on evolution of the multiplex detection immunoassay market during 2014 – 2018 and presents demand projections during 2019 – 2029 on the basis of assay type (planar assay, and bead-based assay), technique (nucleic acid-based technique, protein-based technique, and biosensor-based technique), application (disease testing, food contamination testing, research and development, and veterinary disease testing), and end user (pharmaceutical companies, clinical research organizations, food & beverage companies, academic research institutes, diagnostic centers, and biotechnology companies) across prominent regions ( North America, Latin America, Europe, South Asia, East Asia, Oceania and MEA).
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