From GlobeNewswire: 2024-07-10 01:08:00

The global Multiplex Assay Market is projected to reach $4.40 billion by 2031, with a CAGR of 14.6% from 2024-2031. Rising research for chronic diseases is driving market growth. Multiplex assays are crucial in accelerating drug discovery through high throughput screening of compounds. Market dynamics show increasing demand for disease diagnosis and drug development, with a focus on precision medicine. Advanced multiplex assay products with high accuracy and speed are trending, attracting more users. Development of specialized assays for specific disease areas presents growth opportunities. Consumables segment holds the largest market share, driven by increasing adoption for research and diagnostics. Protein multiplex assay segment accounted for over 40% share in the global market and aids in disease diagnosis and drug development. Flow cytometry technology holds the largest market share due to its sensitivity and flexibility. Research and development contributed over 50% share to overall market, reducing research time and cost. Multiplex assay market is expected to witness a CAGR of 14.6%, with consumables segment holding a dominant position. Key players include Luminex Corporation, Thermo Fisher Scientific, Illumina, Inc., and others. Recent developments include product launches by Vela Diagnostics and Sansure Biotech Inc. Market segmentation includes products, types, technology, applications, end users, and regions. Key market takeaways include a focus on personalized medicine, consumables dominance, and North America’s dominant position. Coherent Market Insights provides reliable research reports and actionable insights in various domains post-COVID-19.



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