Technavio analysts forecast the global multiplexed diagnostics market to grow at a CAGR of over 15% during the forecast period, according to their latest market research report.
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Technavio analysts forecast the global multiplexed diagnostics market to grow at a CAGR of over 15% by 2022. (Graphic: Business Wire)
The increasing technological advancements are one of the major trends being witnessed in the global multiplexed diagnostics market 2018-2022. The increasing demand for multiplexed diagnostics is encouraging vendors to offer continuous advancements in product offerings to meet the growing demand and sustain or increase their market share. For instance, multiplex PCR products are offered by vendors such as Bio-Rad laboratories.
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According to Technavio analysts, one of the key factors contributing to the growth of the global multiplexed diagnostics market is the high prevalence of chronic and infectious diseases:
Global multiplexed diagnostics market: High prevalence of chronic and infectious diseases
Globally, the prevalence of chronic and infectious diseases is high. For instance, in 2012, around 4.2% of the US population had cancer out of which, half of the affected population died due to the disease.
According to a senior analyst at Technavio for research on life science research tools, “Timely diagnosis is essential for healthcare providers and public health practitioners to provide the appropriate treatment at the earliest, which is likely to augment the growth of the global multiplexed diagnostics market. Also, factors like sedentary lifestyle and sub-optimal diagnostic facilities in developing countries are increasing the incidences of chronic diseases which is expected to fuel the demand for multiplexed diagnostics over the next five years.”
Global multiplexed diagnostics market: Segmentation analysis
The global multiplexed diagnostics market research report provides market segmentation by end-user (pharmaceutical and biotechnology companies, healthcare centers, academic institutes, and CROs) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The pharmaceutical and biotechnology companies held the largest market share in 2017, contributing to over 42% of the market. This end-user segment is expected to continue to dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for 51% share, followed by EMEA and APAC respectively. The growth in the region can be attributed to the presence of developed laboratories and drug research and development institutes.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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