(EMAILWIRE.COM, August 25, 2018 ) The global multiplex assays market is projected to reach USD 3.35 Billion in 2023 from USD 2.33 Billion in 2018, at CAGR of 7.5%. Multiplex assays enables the simultaneous detection of multiple analytes in a single run/cycle of the assay. The use of multiplex assays in companion diagnostics for increasing the safety & efficacy of therapies and the advantages of multiplex assays over conventional singleplex assays are driving the growth of the market.

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In this report, the market has been categorized based on product & service, type, technology, application, and end user. Based on product and service, the market is segmented into instruments, consumables, and software & services. In 2018, the consumables segment is expected to account for the largest share of the market; it is also the fastest-growing segment of the market. This can be attributed to the recurring purchase of assays and reagents for increasing research applications.

On the basis of type, the global multiplex assays market is divided into protein assays, nucleic acid assays and cell-based assays. In 2018, the protein-based assays segment is expected to account for the largest share of the global market. This large share is attributed to their advantages such as high specificity and sensitivity, easy configuration, minimal usage of samples, and ability to be automated.

In 2018, North America is expected to account for the largest share of the global multiplex assays market. Asia is expected to register the highest growth rate from 2018 to 2023. This can be attributed to its pharmaceutical market which is growing at the fastest pace in the world, the availability of a large number of qualified researchers, and increasing prevalence of cancer and infectious diseases.