The global multiplex molecular diagnostics market is projected to expand at a steady CAGR of 5.4% during the forecast period from 2022 to 2032, increasing from US$ 23.2 billion in 2022 to US$ 39.25 billion by 2032.
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Market Drivers
- Increasing Demand for Precision Diagnostics: Rising prevalence of complex diseases like cancer and infectious diseases drives the need for multiplex diagnostics that offer simultaneous testing for multiple targets.
- Technological Advancements: Integration of next-generation sequencing (NGS) and polymerase chain reaction (PCR) in diagnostic systems accelerates the adoption of multiplex technologies.
- Pandemic Influence: The COVID-19 pandemic has significantly highlighted the importance of rapid, accurate, and multi-target diagnostics, leading to sustained demand.
- Growing Personalized Medicine Initiatives: Rising focus on tailored therapeutic approaches amplifies the need for advanced diagnostic tools.
Regional Highlights
- North America: Expected to dominate the market due to robust healthcare infrastructure and significant investment in R&D.
- Asia-Pacific: Anticipated to witness the fastest growth, driven by rising healthcare expenditure and increasing prevalence of chronic diseases.
- Europe: Holds substantial market share owing to a strong focus on advanced diagnostic solutions.
Market Snapshot
- 2022 Market Value: US$ 23.2 billion
- 2032 Projected Value: US$ 39.25 billion
- CAGR (2022-2032): 5.4%
Key Trends
- Rise in Infectious Disease Testing: The demand for multiplex diagnostics to manage outbreaks like COVID-19 and influenza is propelling market growth.
- Development of Point-of-Care Testing Solutions: Increasing shift towards decentralized diagnostics to improve patient outcomes.
- Miniaturization of Diagnostic Devices: Compact and portable multiplex systems are gaining traction, especially in resource-limited settings.
- Collaborations in Biotech: Partnerships between biotech companies and research organizations are driving innovation in multiplex molecular diagnostics.
Key companies profiled
BD, bioMérieux SA, GenMark Diagnostics, Inc, Hologic, Luminex Corporation and many more
Who are the Key Players in the Multiplex Molecular Diagnostics Market?
Demand for multiplex molecular diagnostics is likely to increase in the manufacturing industries, which are playing a key role in the growth of the multiple molecular diagnostics market.
Some of the key players present in the multiplex molecular diagnostics market share include BD, bioMérieux SA, GenMark Diagnostics, Inc, Hologic, Luminex Corporation and many more. In addition, the presence of small and local manufacturers across the countries will account for competitiveness in the multiplex molecular diagnostics market.
These manufacturing companies are leading as key a player, which leads to an increase in the sales of multiplex molecular diagnostics in the forecast period.
Key Segment
By Product:
- Analyzers
- Software
- Instruments
- Centrifuge
- Counting Chambers
- Incubators
By Method:
- Real-time PCR
- Nested PCR with Melt Curve Analysis
- PCR with Low Density Microarray
- PCR with Liquid Phase Bead Array
- PCR with Electrochemical Detection
By End Use:
- Clinical Research Laboratory
- Hospitals
- Academic & Research Centers
- Others
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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