Multiplex Detection Immunoassay Market Expected to Touch US$ 3.0 Bn by 2024 | Page 2

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Global Multiplex Detection Immunoassay Market to Reach
US$ 3.0 Bn by 2024 End
According to the latest market report published by Persistence Market Research titled ‘Global
Market Study on Multiplex Detection Immunoassay: North America to Dominate the
Global Market Through 2024 ’, the global multiplex detection immunoassay market is
expected to witness a CAGR of 7.5% during the forecast period 2016–2024.
Manufacturers in the global multiplex detection immunoassay market are focusing on introducing
differential products with enhanced safety and application to increase market share. This market
is significantly determined by the rising aging population, high pervasiveness of illnesses, rising
utilization and enhanced focus on diagnostic testing and expanding the use of multiplex
detection assay test procedures in clinical diagnostics. Moreover, concern in getting federal or
government approvals due to changes in medical procedures coupled with manufacturing
processes, fluctuation in result outcomes, and deficient reimbursements for multiplex detection
immunoassays are representing a few difficulties to the general growth of the market during the
forecast period.
The capacity of multiplex detection immunoassays is to produce reportable outcomes from one
example prompts to its more prominent reception for clinical or purpose of care diagnostics.
Multiplex immunoassays yield an abundance of data on the parts of various proteins and
different biomolecules in assorted natural procedures, in this way giving clinician’s knowledge
into the distinguishing proof and evaluation of disease progression. The aim for manufacturers is
to create assay kits with market driving technologies, problematic levels of multiplexing and
popularize these through bigger business partners.
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Multiplex stages can offer distinct advantages over singleplex measures. The requirement for
lower test input has been suggested as of now; commonly 25–50 µL test volume is required to
test different markers as compared with 100 µL per target required for ELISA. Moreover,
multiplex stages frequently give a pickup in examining dynamic range. While ELISA quickly loses
linearity over a couple orders of magnitude, multiplex assays are accounted for to keep up
linearity more than three or even five orders of magnitude.
The global multiplex detection immunoassay market is segmented into technique, assay type,
end users, and application. The planar assays segment is expected to exhibit the highest growth
over the forecast period. Currently, in the U.S. market, planar assays are the mostly used for
detection followed by the European market. The planar assay segment is expected to be the
most lucrative in the North America multiplex detection immunoassay market, exhibiting a CAGR
of 7.8%.
Based on technique, the market has been segmented into nucleic acid-based techniques,
protein-based techniques and biomarker-based techniques. Protein-based techniques currently
account for the highest revenue share in the market followed by nucleic acid-based techniques.
Increasing focus on disease predisposition studies and drug efficacy studies would create a
good opportunity for growth of multiplex detection immunoassay market.

Global Multiplex Detection Immunoassay Market 2016-2024