The size of the Asia Pacific Multiplex Assays Market was valued at USD 0.69 billion in 2021. It is expected to be worth USD 1.04 billion by 2026, hiking at 8.41% CAGR.
The increasing adoption of companion diagnostics, the rising incidence of chronic and infectious diseases, the growing awareness of disease diagnosis, increased focus on research and development proficiency in medical devices and the adoption of advanced healthcare technologies, growing development in nanotechnology and equipment, and rising expenditure for the development of healthcare infrastructure development and the need for effective analytical platforms in research and clinical diagnostics to reduce operational costs and time taken for diagnosis are all driving Asia Pacific Multiplex Assays market growth.
Other significant factors that are expected to provide attractive growth prospects include increased health awareness among individuals, expanding acceptance of companion diagnostics to improve the safety and efficacy of medicines, and rising medical tourism. In addition, due to an increase in research activities in the pharmaceutical sector to treat various ailments, the Multiplex Assay Market is experiencing substantial expansion. These assays are employed in clinical trials because they save research costs and manual labor while increasing the efficiency of experiments and medicines. Additionally, they are automated and provide easier and faster disease analysis, fueling the growth of the APAC multiplex assay market.
However, the multiplex assays market in the APAC region is expected to be constrained by the high cost of devices used to perform multiplex assays, the lack of diagnostic kits, and the scarcity of competent labor. In addition, expensive capital expenditure and unfavorable reimbursement scenarios are further estimated to impede the expansion of the market. Furthermore, the market would face additional obstacles due to the government's strict product approval procedures.
This research report on the Asia Pacific multiplex assays market has been segmented and sub-segmented into the following categories:
By Product:
By Type:
By Technology:
By Application:
By End User:
By Country:
Asia Pacific is expected to grow at a healthy CAGR during the forecast period. The government's expanding R&D expenditure and the region's increasing infrastructural development drive growth in the APAC region. The market in the Asia Pacific is predicted to grow at a significant pace over the forecast period. Expansion of the market in the area is estimated to be contributed by India and Japan due to the rise in the elderly population leading to the increase in the prevalence of infectious disorders owing to the weakened immune system. Technological innovation is one of the primary factors of this market's growth. Nanoarrays, which are ultra-miniaturized versions of normal microarrays, was created due to nanotechnology's rapid growth. The improved knowledge of the multifactorial structure of diseases and pathological circumstances like cancer and Alzheimer's disease has demanded the creation of a cost-effective and time-saving technology for assessing many analyzers in a single sample. Biopharmaceuticals are developing personalized medicine, innovative therapeutics, biomarkers, and multiplex assays in China, in addition to generics. In addition, various trends in a multiplex assay are emerging across the country. Furthermore, the country requires patient samples to be used in clinical trials to receive permission. Government funding to encourage drug development activities and strategic collaborations among key market players are driving the multiplex assay market in Japan.
KEY MARKET PLAYERS:
Companies that are currently dominating the APAC Multiplex Assays Market profiled in the report are Luminex Corporation, Thermo Fisher Scientific Inc., Illumina Inc., Bio-Rad Laboratories Inc., QIAGEN N.V., Abcam Plc, Becton, Dickinson and Company, Luminex Corporation, Meso Scale Diagnostics, Randox Laboratories Ltd and Seegene Inc.
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product
5.1.1 Introduction
5.1.2 Consumables
5.1.3 Instruments
5.1.4 Accessories
5.1.5 Software and Services
5.1.6 Y-o-Y Growth Analysis, By Product
5.1.7 Market Attractiveness Analysis, By Product
5.1.8 Market Share Analysis, By Product
5.2 Type
5.2.1 Introduction
5.2.2 Nucleic Acid-Based Multiplex Assays
5.2.2.1 Planar Nucleic Acid Assays
5.2.2.2 Bead-Based Nucleic Acid Assays
5.2.3 Protein-Based Multiplex Assays
5.2.3.1 Planar Protein Assays
5.2.3.2 Bead-Based Protein Assays
5.2.4 Y-o-Y Growth Analysis, By Type
5.2.5 Market Attractiveness Analysis, By Type
5.2.6 Market Share Analysis, By Type
5.3 Application
5.3.1 Introduction
5.3.2 Research & Development
5.3.2.1 Drug Development
5.3.2.2 Biomarker Discovery and Validation
5.3.3.1 Infectious Diseases
5.3.3.2 Cancer
5.3.3.3 Cardiac Diseases
5.3.3.4 Autoimmune Diseases
5.3.3.5 Alzheimer’s Disease
5.3.3.6 Allergies
5.3.3 Companion Diagnostics
5.3.4 Other Applications
5.3.5 Y-o-Y Growth Analysis, By Application
5.3.6 Market Attractiveness Analysis, By Application
5.3.7 Market Share Analysis, By Application
5.4 Technology
5.4.1 Introduction
5.4.2 Multiplex Pcr
5.4.3 Multiplex Arrays
5.4.3.1 Multiplex Planar Arrays
5.4.3.2 Multiplex Bead-Based Array
5.4.4 Other Technologies
5.4.5 Y-o-Y Growth Analysis, By Technologies
5.4.6 Market Attractiveness Analysis, By Technologies
5.4.7 Market Share Analysis, By Technologies
5.5 End Use
5.5.1 Introduction
5.5.2 Pharmaceutical & Biotechnology Companies
5.5.3 Academic & Research Institutes
5.5.4 Clinical Laboratories
5.5.5 Hospitals
5.5.6 Other End Users
5.4.5 Y-o-Y Growth Analysis, By End Use
5.4.6 Market Attractiveness Analysis, By End Use
5.4.7 Market Share Analysis, By End Use
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Product
6.1.3.3 By Type
6.1.3.4 By Application
6.1.3.5 By Technology
6.1.3.6 By End User
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Product
6.1.4.3 By Type
6.1.4.4 By Application
6.1.4.5 By Technology
6.1.4.6 By End User
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Product
6.1.5.3 By Type
6.1.5.4 By Application
6.1.5.5 By Technology
6.1.5.6 By End User
6.2 China
6.3 India
6.4 Japan
6.5 South Korea
6.6 Australia
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Luminex Corporation
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Thermo Fisher Scientific Inc.
8.3 Illumina Inc.
8.4 Bio-Rad Laboratories Inc.
8.5 QIAGEN N.V.
8.6 Abcam Plc
8.7 Becton
8.8 Dickinson and Company
8.9 Luminex Corporation
8.10 Meso Scale Diagnostics
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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