Multiplex Assays Market Size, Share, and Trends 2024 to 2033

Multiplex Assays Market Size and Forecast

The global multiplex assays market size was USD 1.52 billion in 2023, calculated at USD 1.74 billion in 2024 and is expected to reach around USD 6.04 billion by 2033, expanding at a CAGR of 14.79% from 2024 to 2033. The benefits of multiplex assays include saving time and resources, optimizing productivity, enhancing accuracy because of less sample handling, lowering cost per data point, and conserving limited sample volume. These factors help to the growth of the market.

Multiplex Assays Market Key Takeaways

• The North America multiplex assays market reached US$ 580 million in 2023 and is predicted to cross around US$ 2,330 million by 2033, at a CAGR of 14.91% from 2024 to 2033.
• North America dominated the multiplex assays market with the largest revenue share of 38% in 2023.
• Asia Pacific is estimated to be the fastest-growing during the forecast period of 2024-2033.
• By product, the consumables segment has contributed more than 76% of revenue share in 2023.
• By type, the protein multiplex assays segment has generated the highest revenue share of 54% in 2023.
• By technology, the flow cytometry segment has captured more than 36% of revenue share in 2023.
• By technology, the multiplex real-time PCR segment is estimated to be the fastest-growing during the forecast period.
• By application, the research & development segment has held a major revenue share of 54% in 2023.
• By application, the clinical diagnostics segment is the fastest-growing during the forecast period.
• By end-use, the pharmaceutical & biotechnology companies segment has recorded more than 42% of revenue share in 2023.
• By end-use, hospitals & diagnostics laboratories segment is expected to be the fastest-growing during the forecast period.

U.S. Multiplex Assays Market Size and Growth 2024 to 2033

The U.S. multiplex assays market was valued at US$ 400 million in 2023 and is expected to be worth around US$ 1,640 million by 2033 with a CAGR of 15.15% from 2024 to 2033.

North America dominated the multiplex assays market in 2023. The rising research & development activities to develop new drugs, treatments, and diagnosis options. Rising health conditions like strokes and cancers lead to the growth of the market in the North American region. In May 2024, in the United States, a revolutionary at-home flu A/B & COVID-19 multiplex rapid test was launched by Cost Plus Med Tech. This new kit helps to detect SARS-CoV-2 antigens, influenza A, and influenza B.

Asia Pacific is estimated to be the fastest-growing during the forecast period of 2024-2033. Increased investment in the R&D sector, healthcare infrastructure, and increasing number of hospitals helps to the growth of the multiplex assays market in the Asia Pacific region. In India, the increasing use of multiplex assays leads to the growth of the market. In May 2023, a multiplex single-tube real-time RT-PCR test the first local test for the detection of flu and COVID in a single swab developed by the Indian Pune-based National Institute of Virology (NIV). The first Indigenous testing kit called a multiplex single tube real-time RT-PCR test developed to detect infections like COVID-19, SARS-CoV-2, and influenza A and B through a single kit.

• In March 2024, a molecular diagnostic company, Co-Diagnostics Inc., patented a platform for molecular diagnostics tests development and announced that its joint venture CoSara Diagnostics Pvt Ltd for manufacturing and sales in India and received clearance from Indian regulators CDSCO for influenza multiplex PCR test for use in diagnostics procedure.

Multiplex Assays Market Overview

The multiplex assays market is for products and technologies that allow simultaneous detection and analysis of many different analytes like metabolites, proteins, and nucleic acids in a single sample. Multiplex assay is the type of immunoassay in the biological sciences that uses magnetic beads to measure multiple analytes in a single experiment simultaneously. It is increasingly important for the quantification of toxicological or pathological samples. Multiplex assays can help to save samples, money, and time. The benefits of multiplex assays include effective use of sample volume, detailed diagnosis that helps to make easier personalized medicines, higher output prediction, faster procedure, less sample handling which leads to fewer errors, reduced cost per data point, and more data point per sample. These factors help to the growth of the market.

Multiplex Assays Market Growth Factors

• The benefits of multiplex assays include effective use of sample volume and detailed diagnosis that helps to make easier personalized medicine.
• It also includes higher output benefits, faster procedures, and less sample handling which leads to fewer errors. These benefits help to the growth of the market.
• Reduced cost per data point and more data points per sample which helps to the growth of the multiplex assays market.
• It is used for many applications like forensic studies, mutation analysis, pathogen identification, disease detection, and diagnosis.
• It can also help to reduce the sample amount required and time as compared to conventional methods like ELISA. These factors help to the growth of the market.

Multiplex Assays Market Scope

Multiplex Assays Market Dynamics

Driver

Advantages of multiplex assays as compared to traditional and singleplex assays

Multiplex assays help to reduce the sample amount required and time as compared to traditional and singleplex assays. Their high accuracy, reproducibility, and higher output help to the growth of the market. It also helps to reduce cost per data point, faster procedures, and detailed diagnosis. These factors help the growth of the multiplex assays market.

Restraint

Downsides of multiplex assays

The lack of skilled professionals and the increasing cost of the equipment may hamper the growth of the market. Multiplex assay must be carefully matched to function in the same analytical range and the same buffer. Multiplex assay technology may require a validated antibody pair and specialized equipment. It may occur cross-reactivity. The initial investment in multiplex assay devices may be higher than the traditional or singleplex assay devices. The time required to develop multiplex assays is higher than singleplex assays. These factors may restrict the growth of the multiplex assays market.

Opportunity

Advanced technologies and strategic collaborations

Advanced technologies and strategic collaboration help to the growth of the multiplex assays market. Implementation of advanced technologies like artificial intelligence (AI) and next-generation sequencing (NGS). The increasing necessity for rapid and accurate diagnostics helps the growth of the market.  In medical diagnosis and research, multiplex immunoassay a powerful diagnosis tool is highly used for quantification of biomolecules and proteins. Multiplex assays are helpful in the in-vitro quantification of many analytes in a single sample by minimizing volume, cost, and time. For innovation and market expansion, collaboration between research institutions and industry leaders is helpful. These factors help the growth of the market.

Product Insights

The consumables segment dominated the market in 2023. Increased purchase of consumables increases the number of diagnosis tests and contributes to the growth of the market. Consumables are helpful because they can be distinguishable by their spectral address and distinct color codes. It contains many different components which are necessary for performing assays. The consumables are essential for reliable and accurate results in the multiplex assays. These factors help to the growth of the consumables segment and contribute to the growth of the multiplex assays market.

The software segment is estimated to grow significantly during the forecast period. For designing and analyzing multiplex assays different software is used. For designing digital PCR (dPCR) multiplex assays, QIAGEN software provides tips. To design qPCR, IDT software is used. These offer many benefits including increased efficiency, more data from a single assay, scalability, and more cost-effective than single-plex assays. These factors help the growth of the software segment and contribute to the growth of the multiplex assays market.

Type Insights

The protein multiplex assays segment dominated the market in 2023. Protein multiplex assay is a type of immunoassay that helps to measure multiple analytes in a single experiment by using magnetic beads. The protein multiplex assay is a test system or device in which one or more peptides or protein targets are detected at a time by a common process of sample preparation, measurement, and interpretation. The benefits of protein multiplex assay include efficiency, consistency, cost savings, higher productivity/output, sample conservation, facilitating personalized medicine, and detailed diagnostics. These factors help the growth of the protein multiplex assays and contribute to the growth of the multiplex assays market.

The nucleic acid assay segment is expected to grow significantly during the forecast period. Nucleic acid assay is a molecular technique for screening blood donations and helps to reduce risks of TTIs (transfusion-transmitted infections) in the recipients which provides an additional layer of blood safety. For SARS-CoV-2 detection, the nucleic acid assay is the best choice because of its high specificity and sensitivity properties. The benefits of nucleic acid assay include low cost, high speed, high sensitivity, high specificity, and high accuracy. These factors help to the growth of the nucleic acid assay and contribute to the growth of the multiplex assays market.

Technology Insights

The flow cytometry segment dominated the multiplex assays market in 2023. Flow cytometry is a powerful technology for functional studies, disease research, immunophenotyping, and cell analysis. The benefits of flow cytometry include it can measure many parameters on the same sample. Their results can be used for cancer diagnosis and treatment and also to monitor the health of the people who suffer from HIV, and many other purposes. These factors help the growth of the flow cytometry segment and contribute to the growth of the market.

The multiplex real-time PCR segment is estimated to be the fastest-growing during the forecast period. The benefits of multiplex real-time PCR include providing more information with less sample, cost-savings, time-saving, superior data normalization, fewer pipetting errors, and higher output than regular real-time PCR. These factors help the growth of the multiplex real-time PCR segment and contribute to the multiplex assays market.

Application Insights

The research & development segment dominated the multiplex assays market in 2023. In research & development, multiplex assays play an important role. These assays help to measure many analytes from a single biological sample simultaneously by minimizing sample volume, cost, and time. Multiplex assays are helpful for clinical trials, proteomics research, genomics, drug discovery, clinical biomarker development, validation of genomic discoveries, etc. These factors help the growth of the research & development segment and contribute to the growth of the market.

The clinical diagnostics segment is anticipated to be the fastest-growing during the forecast period. In clinical diagnostics, multiplex assays play an important role. The benefits of multiplex assays in clinical diagnostics include cost savings, time-saving, less sample volume needed, and better predictive value. Applications include cytokines, cardiac markers, autoimmune diseases, cancer markers, and infectious diseases. These factors help to the growth of the clinical diagnostics segment and contribute to the growth of the multiplex assays market.

End-use Insights

The pharmaceutical & biotechnology companies segment dominated the multiplex assays market in 2023. In pharmaceutical & biotechnology companies, multiple assays play an important role. The applications include drug development & discovery, for clinical pharmacokinetics & bioequivalence studies, and reducing immunoassay variability. These factors help to the growth of the pharmaceutical & biotechnology companies segment and contribute to the growth of the market.

The hospitals & diagnostics laboratories segment is expected to be  the fastest-growing during the forecast period. Multiplex assays have many applications in hospitals & diagnostics laboratories which include linkage analysis, forensic studies, pathogen identification, DNA & RNA detection, and mutation analysis. The benefits include the measurement of different substances from a single sample by minimizing cost, volume, and time. These factors help the growth of the hospitals & diagnostics laboratories segment and contribute to the growth of the multiplex assays market.

Multiplex Assays Market Companies

• R&D Systems, Inc.
• Advanced Cell Diagnostics
• Perkin Elmer Inc.
• Thermo Fischer Scientific
• QIAGEN N.V.
• Promega Connections
• Assay Genie
• Merck KGaA
• Seegene Inc.
• Abcam Plc
• Bio-Rad Laboratories, Inc.
• Luminex Corp.

Recent Developments

• In November 2022, ALiA BioTech’s one-stop diagnostic platform carried multiplex testing to the medical frontline. It helps to reduce cost and time at the time increasing the number of simultaneous assays which helps to identify the right biomarker.
• In August 2023, Health Canada approved bioLytical’s INSTI Multiplex Test (INSTI Multiplex HIV-1/HIV-2/Syphilis Test) for clinical use.
• In April 2024, the first ultrasensitive multiplexed digital PCR assay, the ddPLEX ESR1 Mutation Detection Kit was launched by a global leader in life science research and clinical diagnostics products, Bio-Rad Laboratories, Inc. for breast cancer mutation detection in clinical research.
• In June 2024, a digital PCR (dPCR) custom assay design tool for QIAcuity was launched by the German firm Qiagen. These new advancements support customers with a large range of assay customization options from simple to complex and validated multiplex assays and also help to improve user experience.

Segments Covered in the Report

By Product

• Consumables
• Instruments
• Software

By Type

• Protein Multiplex Assays
  • Planer Protein Assays
  • Bead-based Protein Assays
• Nucleic Acid Multiplex Assays
  • Planer Protein Assays
  • Bead-based Protein Assays
• Cell-based Multiplex Assays 

By Technology

• Flow Cytometry
• Fluorescence Detection
• Luminescence
• Multiplex Real-Time PCR
• Other Technologies

By Application

• Research & Development
  • Drug Discovery & Development
  • Biomarker Discovery & Validation
• Clinical Diagnostics
  • Infectious Diseases 
  • Cancer
  • Cardiovascular Diseases
  • Autoimmune Diseases
  • Nervous System Disorders
  • Metabolism & Endocrinology Disorders
  • Other Diseases

By End-use

• Pharmaceutical & Biotechnology Companies
• Hospitals & Diagnostic Laboratories
• Research & Academic Institutes
• Other End-users

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa