The Global Multiplex Detection Immunoassay Market Size valued for USD 1,781.6 Million in 2021 and is anticipated to reach USD 3,704.9 Million by 2030 with a CAGR of 8.5% from 2022 to 2030.

Yalow and Berson (1960), who won the Nobel Prize for their work on measuring insulin levels, created the first immunoassay. For detection in these initial assays, radiolabels were used. Due to its exceptional sensitivity, the radioimmunoassay (RIA) would continue to be the gold standard for the identification of bioanalytes for more than ten years despite the health risks and disposal problems associated with the use of radioisotopes. In both life sciences research and clinical diagnostics, immunoassay is a method for the sensitive and highly particular detection of analytes present in biological samples. Numerous immunoassays offer clinicians a wealth of knowledge based on numerous proteins and other bio molecules in various biological processes, enabling the identification and evaluation of disease progression.

Multiplex Detection Immunoassay Market Dynamics

The significant rise in demand for point-of-care diagnosis for quick early screening in a variety of non-laboratory settings is an additional factor that is likely to significantly fuel the expansion of the worldwide multiplex detection immunoassays market throughout the projected period. The need for "near-patient tests" is high due to their high patient expediency. The market for multiplex detection immunoassays is expanding as a result of efforts being made to recover the quality and performance of the point-of-care immunoassays that are currently accessible for the detection of the incidence of different diseases and substances.

Numerous immunoassays are available to aid in the early detection of infections as a preventative measure for prosthetic joint infection, but lateral flow multiplex detection immunoassay is leading in terms of adoption due to its low costs, speed, and simplicity.

It costs money and takes time to use biomarkers in drug development. It is necessary to examine changes in a number of biomarkers in order to assess the impact of medication on many complex disorders. In this regard, multiplex detection immunoassays offer a solution to a number of challenges like increased effort due to several collections and detection expenses. The multiplex detection immunoassay market is expected to grow due to the increasing use of these methods in drug development.

Multiplex Detection Immunoassay Market Insights

Market for Multiplex Detection Immunoassay is divided into assay type, technique, application, and end-user. The market is divided into two segments based on assay type: bed-based assay and planar assay. The market is divided into three categories according to technique: protein-based, biosensor-based, and nucleic acid-based. Application is further divided into testing for diseases, research and development, food contamination, and testing for veterinary diseases. Clinical research organizations, academic & research institutes, pharmaceutical and biopharmaceutical companies, diagnostic centers, and others are the different categories of end-users.

Planar Assay will experience significant growth in the upcoming years on a global scale. Technique-wise, protein-based Technique will seize a commanding market position. Protein-based assays are used to measure solubilized protein concentration. The Information Technology & Innovation Foundation (ITIF) reports that biopharmaceutical firms invest a lot of money in the development, testing, and production of drugs and therapeutics.

Global Multiplex Detection Immunoassay Market Geographical Competition

According to regions, North America will experience significant growth and serve as a source of revenue in the Multiplex Detection Immunoassay market due to the emergence of several market players and its advanced healthcare system. High government spending and the demand for the creation of novel drugs and biomarkers also contribute to the region's expansion. In the upcoming years, Asia Pacific is predicted to grow at the fastest rate. High government initiatives to promote drug development and discovery are a contributing factor to the industry's significant growth.

Global Multiplex Detection Immunoassay Industry Segment Analysis

Multiplex Detection Immunoassay Market By Assay Type

·         Planar Assay

·         Bead-Based Assay

Multiplex Detection Immunoassay Market By Technique

·         Nucleic Acid-Based Techniques

·         Protein-Based Techniques

·         Biosensor-Based Techniques

Multiplex Detection Immunoassay Market By Application

·         Disease Testing

·         Food Contamination Testing

·         Research & Development

·         Veterinary Disease Testing

Multiplex Detection Immunoassay Market Leading Companies

The players profiled in the report include Hoffmann-La Roche Ltd, QIAGEN, Merck KGaA, Microsynth AG, Bio-Rad Laboratories, Thermo Fisher Scientific, Luminex Corporation, Becton, and Dickinson and Company.

Multiplex Detection Immunoassay Market Regions