Global Multiplexed Diagnostics Market Report and Forecast 2024-2032

Global Multiplexed Diagnostics Market Outlook

The global multiplexed diagnostics market size was valued at USD 12.9 billion in 2023, driven by the growing demand for advanced diagnostic technology. The market is expected to grow at a CAGR of 15.2% during the forecast period of 2024-2032, with the values likely to rise from USD 14.9 billion in 2024 to USD 46.2 billion by 2032.

Global Multiplexed Diagnostics Market Overview

Multiplexing is the process of identifying or detecting multiple biomarkers at the same time in a single diagnostic test. Multiplexed diagnostics are highly valuable in certain disease types such as cardiovascular and infectious diseases to detect relevant biomarkers and guide the most optimal treatment plan. The clinically available multiplex diagnostics typically offer services to detect peptide or protein biomarkers and nucleic acid testing.

The rise in the prevalence of chronic disease directly impacts the multiplexed diagnostics market demand positively. Recent data suggests that chronic diseases are responsible for the mortality of 41 million people annually, which accounts for 74% of all deaths globally. Cardiovascular diseases account for most of the deaths in the chronic diseases category, reported to be 17.9 million in a year.  To tackle the rising burden of chronic diseases and associated mortality, there is an increased emphasis on the development of multiplexed diagnostics to get actionable health insights in less time and cost.

The surge in approvals of multiplexed diagnostic platforms by health regulatory agencies such as the United States Food and Drug Administration (FDA) is expected to bolster the market growth. In March 2024,   DiaSorin SpA received 510(k) clearance from the FDA for its new fully automated multiplexing platform LIAISON PLEX platform and its first panel of tests, LIAISON PLEX Respiratory Flex Assay. Through its innovative and cost-efficient multiplex molecular diagnostic platform, the company will gain access to the lucrative syndromic multiplexing market. The availability of such multiplexing platforms that maximize testing efficiencies in the laboratories is anticipated to boost the multiplexed diagnostics market share in the forecast period.

Other factors that are driving the market growth are the increased investment in genomic research from various sectors, rising healthcare expenditure, and the growing demand for personalized medicine. Moreover, the rising collaborations among the key market players are likely to accelerate the development of more sophisticated and advanced multiplexed diagnostic platforms.

Global Multiplexed Diagnostics Market Trends

Global Multiplexed Diagnostics Market Segmentation

Market Breakup by Product Type

• Instruments and Accessories

• Consumables

The market segmentation by product type comprises instruments and accessories, along with consumables. Consumables include reagents and assay kits required during multiplexed diagnostics procedures.

Market Breakup by Technology 

• High Density Multiplexed Assay

• Medium Density Multiplexed Assay

• Low Density Multiplexed Assay

On the basis of technology, multiplexed diagnostics can be categorized as high-density multiplexed assays, medium density multiplexed assays, and low density multiplexed assays. This market segment reflects the varying levels of multiplexing capabilities offered by different platforms.

Market Breakup by Application

• Infectious Disease

• Autoimmune Disease

• Cardiac Disease

• Oncology

• Others

Multiplexed diagnostics market demand has elevated in recent times, owing to its increased application in various domains. It is used across infectious diseases, autoimmune diseases, cardiac diseases, oncology, and other medical conditions. This segment provides a wide range of diagnostic needs across different specialties.

Market Breakup by End User

• Hospitals

• Diagnostic Centers

• Others

End-users of multiplexed diagnostics include hospitals, diagnostic centers, and other healthcare facilities where patients undergo diagnostic testing.

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Geographically, the multiplexed diagnostics market report offers insights for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The regional disparity in the market growth relies on factors such as advancement in the healthcare infrastructure, the prevalence and incidence of diseases, and the adoption rate of multiplexed diagnostic technologies. North America leads the market segment, which can be attributed to the significant healthcare expenditure and the availability of advanced technologies in the healthcare facilities. Moreover, the increased investment by public and private sectors in the life science research is also expected to drive the market growth in the coming years. 

Global Multiplexed Diagnostics Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• DiaSorin S.p.A

• Thermo Fisher Scientific Corporation

• QIAGEN N.V.

• Siemens Healthineers

• BioMerieux

• Agilent Technologies Inc.

• F. Hoffmann La Roche Ltd.

• Illumina Inc.

• Hologic Inc.

• Co-Diagnostics, Inc.

• Abbott Laboratories

• Bio-Rad Laboratories Inc.

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report

Key Queries Solved in the Global Multiplexed Diagnostics Market Report

• How is the market landscape expected to evolve in upcoming years? 
• What are the major market trends influencing the market? 
• What are the major drivers, opportunities, and restraints in the market? 
• What will be the effect of each driver, challenge, and opportunity on the market? 
• Which region is poised to lead the market share in the forecast period? 
• Which regional market is expected to experience expedited growth during the forecast period? 
• Which product type will experience the highest demand in the market? 
• Which technology type is expected to dominate the respective market segment? 
• Which applications are expected to significantly impact the multiplexed diagnostics market growth?
• What are the key research initiatives expected to boost the market value during the forecast period? 
• What are the regulatory frameworks impacting the market growth?
• How is technological advancement shaping the future of the market?
• How is the integration of automation and artificial intelligence influencing the market size? 
• How are partnerships, collaborations, and mergers and acquisitions shaping the market dynamics of the electrophoresis equipment industry?