Global Revenue Of Multiplexed Diagnostic Market Is About 38.30 billion USD In 2027

 


During the projected period 2020-2027, the global multiplexed diagnostics market is predicted to develop at a CAGR of 17.9%, from USD 10.26 billion in 2019 to USD 38.30 billion in 2027.

Breast cancer is one of the most common causes of female mortality, accounting for 25% of all cancer cases and 15% of cancer deaths globally, according to the World Health Organization (WHO, 2010). For the proper detection and treatment of deadly diseases, there is a growing requirement for cutting-edge diagnostic technology, complex analytical methodologies, and automated equipment.

The rising prevalence of cancer and infectious diseases, as well as increased public and private financing for customized medicine and genomics, and an increase in chronic disease cases are all driving the global multiplexed diagnostics market. Key players are increasing their R&D efforts in order to produce next-generation sequencing technologies.

Diagnostic assays are tests that are used to examine target analytes in organic samples, cells of organisms, biochemical compounds, and other materials for the goal of illness diagnosis, either qualitatively or quantitatively. Multiplexed diagnostics allow for the screening of numerous analytes in a single assay cycle. While singleplex assays are widely accessible, they struggle to produce findings for several analytes in a single assay cycle. When numerous analytes must be examined, a singleplex assay's turnaround time and cost are significantly higher than a multiplexed assay's. The global market is being driven by a growing need for breakthrough medical technologies that can reliably diagnose life-threatening disorders.

Many people have lost their jobs and had their salaries lowered as a result of the global pandemic. Covid-19 has posed a danger to the global economy and has had a severe influence on a variety of businesses, including multiplexed diagnostics. The market's growth is likely to decline as a result of lower disposable income and shattered supply chains. Another stumbling block to the market's expansion is a scarcity of skilled labor to operate such devices.

Agilent Technologies, Abbott Laboratories, bioMérieux SA, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Siemens Healthineers, Illumina, Inc., Luminex Corporation, F. Hoffmann-La Roche Ltd., and Hologic, Inc. are among the major competitors in the worldwide multiplexed diagnostics industry.

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