The multiplexed diagnostics market forecast period (2018-2024)

 The study analyses the global multiplexed diagnostics market qualitatively and quantitatively from 2016 to 2024. Over the projected period of 2018-2024, the global multiplexed diagnostics market is expected to increase at a CAGR of 19.3%, according to the analysis. The study on the multiplexed diagnostics market examines the major geographies such as North America, Europe, Asia-Pacific, and RoW for the period of 2016 to 2024.


One of the primary factors fueling the growth of the multiplexed diagnostic market is the rise in the occurrence of chronic diseases. Multiplexed diagnostics aids in early detection, reducing the chance of chronic disease/infection and allowing for better therapy management. The need for multiplexed diagnostics will rise as people become more concerned about early disease detection. Meanwhile, the market's expansion is hampered by a shortage of qualified specialists and a lack of knowledge about multiplexed diagnostics, particularly in developing and underdeveloped nations. Increased awareness of multiplexed diagnostics in underserved areas could lead to market expansion in the near future.

In 2017, North America had 49.54 percent of the market share for multiplexed diagnostics, and it is predicted to continue to do so throughout the forecast period of 2018-2024. Because to the increased prevalence of cardiac disorders and cancer in this region, as well as the availability of superior healthcare infrastructure, the United States leads the North American region. With a CAGR of 22.5 percent, the Asia-Pacific area is predicted to grow the fastest.

With a market share of 27.82 percent in 2019, medium density multiplexed assays dominated the market.

Low density multiplexed assays, medium density multiplexed assays, high density multiplexed assays, very high density multiplexed assays, and next-generation sequencing are all part of the technological category.In the year 2019, medium-density multiplexed assays dominated the market, with a market share of 27.82 percent. Because of the growing usage of medium density multiplexed assays in genetic research, this is the case. 

In the year 2019, oncology led the industry, with a market value of USD 2.03 billion.

In the year 2019, medium density multiplexed assays dominated the market, with a market share of 27.82 percent. Because of the growing usage of medium density multiplexed assays in genetic research, this is the case. This is due to factors such as product development that made procedures faster and easier for both the patient and the physician, as well as an increase in the number of disorders linked to prostate cancer, colorectal cancer, and breast cancer.


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