The Asia Pacific Multiplex Assay Market would witness market growth of 9.9% CAGR during the forecast period (2021-2027).
Multiplex assays within a given application area or technology class, can be further stratified based on the number of analytes that can be measured per assay. Multiplex refers to procedures that process the most analytes. On the other hand, low-plex or mid-plex refers to procedures that function very few (10s to 1000s). There are no specific standards for calling a process multi-, mid-, or low-plex based on the number of Single-analyte assays or low-to-mid-plex procedures predate.
Expanded government funding, increased research efforts in the pharmaceutical and biotechnology sectors, and a growing focus on enhancing experiment efficiency are all projected to move the industry forward. The increased acknowledgment of the multifactorial nature of illnesses and pathological conditions such as cancer or Alzheimer's disease has demanded the development of a cost-effective and time-saving technology for assessing various analyzers in a single sample.
Government funding in drug research efforts and strategic collaborations among leading market players are driving the multiplex assay market in Japan. Moreover, APAC has a significant number of geriatric populations which is a risk factor for people as they become more vulnerable to cancers in old age. For instance, according to the National Cancer Institute, the cancer occurrence rate of people above the age of 60 is 1000/100000, while it is 25/100000 in people under age of 20.
The China market dominated the Asia Pacific Multiplex Assay Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $282.8 million by 2027. The Japan market is exhibiting a CAGR of 9.3% during (2021 - 2027). Additionally, The India market would witness a CAGR of 10.6% during (2021 - 2027).
Based on Product, the market is segmented into Reagents & Consumables, Instruments & Accessories, and Software & Services. Based on Type, the market is segmented into Protein Based Multiplex Assays, Nucleic Acid-Based Multiplex Assay, and Others. Based on End user, the market is segmented into Pharmaceutical & Biotechnology Companies, Research Institutes, Clinical Laboratories, and Hospitals. Based on Application, the market is segmented into Research & Development, Clinical Diagnostics, and Companion Diagnostics. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Multiplex Assay Market is Projected to reach USD 4 Billion by 2027, at a CAGR of 9.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Becton, Dickinson and Company, Seegene, Inc., Randox Laboratories Limited, Illumina, Inc., Qiagen N.V., DiaSorin S.p.A. (Luminex Corporation), Abcam plc, and Meso Scale Diagnostics LLC.
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