Global Multiplex Detection Immunoassay Market size is expected to be worth roughly USD 3,704.9 Million by 2030, growing at a CAGR of more than 8.5% during the projected timeframe of 2022-2030, according to Ameco Research
Over the past couple of decades, contamination of food triggered by antibiotic residues has become a major issue primarily due to the inappropriate utilization of antibiotics. The advancement of simple, elevated, cost-effective, as well as rapid screening methods for the identification of antimicrobial residues, is currently gaining traction, owing to the growing need to discover alternatives to traditional assays a factor that is expected to drive the worldwide multiplex detection immunoassays market growth throughout the projected timeframe. Furthermore, immunoassays are growing rapidly as a potential evaluation approach for food and environmental safety. This is expected to boost innovations in the global market for multiplex detection immunoassays.
Multiplex detection immunoassays are rapidly being employed in a variety of applications, such as food contamination testing, infectious disease testing, veterinary disease testing, as well as research and development. An immunoassay is an approach for identifying analytes in biological materials that is both specific and sensitive. It is used in both biological sciences studies and clinical diagnostics. Numerous immunoassays provide a large amount of data based on multiple proteins and other macromolecules involved in diverse biological processes, allowing doctors to identify and assess illness development.
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Global Multiplex Detection Immunoassay Market Trends
The increasing need for multiplex detection immunoassays for different diagnostic techniques is likely to unlock the full potential of multiplex detection immunoassays in the coming years, fueling the worldwide multiplex detection immunoassays market share during the assessment period. In order to improve mobility, recover joint function, and enhance the quality of life, prosthetic joint replacements are frequently employed. Despite the fact that prosthetic knee replacement is a widely acknowledged therapy, prosthetic joint disease is one of the top reasons for knee orthopedic surgery, making early detection crucial. This is expected to boost the multiplex detection immunoassays market size.
The food industry is adopting new analytical technologies including biosensor-based, nucleic acid-based, as well as immunoassay-based since conventional methods for identifying infections in food are labor- and time-intensive. Foodborne infections affect 48 million individuals in the United States, killing 3,000 individuals each and every year. As a result, there is a great demand for rapid and efficient detection processes, which is propelling the multiplex detection immunoassay market value.
Multiplex Detection Immunoassay Market Segmentation
Ameco Research has fragmented the global multiplex detection immunoassay market by assay type, technique, application, and end-user. By assay type, the industry is sub-divided into bead-based assay, and planar assay. In terms of assay type, the planar assay segment occupied the largest share of the global market in 2021 and is expected to grow at a rapid CAGR during the projected timeframe, owing to an increase in patient need and demand for diagnosis. Further, by technique, the market is split into protein-based techniques, biosensor-based techniques, and nucleic acid-based techniques. The protein-based technique will have a commanding market share. To assess the quantity of solubility protein, protein-based tests are used. Protein separation, measurement, and analysis can all be accomplished using biochemical procedures.
Based on the application, the market is divided into disease testing, research & development, food contamination testing, and veterinary disease testing. Additionally, in terms of end-user, the market is categorized into pharmaceutical & biopharmaceutical companies, food & beverages industry, diagnostic centers, clinical research organizations, academic & research institutes, and others. According to the multiplex detection immunoassay market forecast, the pharmaceutical & biopharmaceutical companies segment is expected to grow extensively in the global market over the next few years.
Multiplex Detection Immunoassay Market Regional Outlook
The global multiplex detection immunoassay market is divided into several geographical regions: North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. According to the multiplex detection immunoassay industry analysis, the North America held a significant portion of the global market in 2021. This expansion is attributed to the region's highly structured healthcare business, the presence of significant companies, and its growth strategy. Rising knowledge of the benefits of treatments, as well as an increase in healthcare expenditure, are expected to drive the growth of the North American multiplex detection immunoassays market revenue.
Besides that, Asia-Pacific is expected to grow at the fastest rate in the next years. High government activities that support drug research and development are a component that leads to the large rise. The Japanese government encourages strategic cooperation among market stakeholders in the advancement of market assay testing.
Multiplex Detection Immunoassay Market Companies
Some of the most notable worldwide multiplex detection immunoassay market players are Bio-Rad Laboratories, QIAGEN, Hoffmann-La Roche Ltd, Merck KGaA, Thermo Fisher Scientific, Luminex Corporation, Becton, and Dickinson and Company, and Microsynth AG.
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