Europe Multiplex Assays Market

Europe Multiplex Assays Market Size (2024 to 2029)

The Europe Multiplex Assays Market size has been calculated at USD 0.89 billion in 2024. It is expected to reach USD 1.27 billion by 2029, growing at a 7.32% CAGR.

The growth of the multiplex assays market in the European region is projected to be driven by the increasing need to deal with therapeutic pharmaceuticals, which gives significant recommendations for the dose modification of antibiotics, immune suppressants, and other medications. The need for numerous blood samples to accurately quantify anticancer drug systemic exposure is the most common problem when testing for anticancer therapy.

The European multiplex assays market is further predicted to rise fast due to the rising frequency of chronic diseases, the growing acceptability of individualized treatment, and the numerous advantages of multiplex assays. The use of multiplex tests for cancer diagnosis, the benefits of multiplex assays over singleplex difficulties, immune system disorders, bone marrow diseases, other infectious diseases, and technological advancements in multiple assay techniques are all expected to drive the European multiplex assays market forward. In addition, over the last decade, there has been a considerable increase in the demand for healthcare systems in some countries to offer treatments at the lowest possible cost, which is expected to boost the market growth. 

However, the cost is a significant barrier limiting the usage of therapeutic drugs in European countries. However, the high price of Therapeutic drug services is considered a substantial burden on patient care; this is a significant factor limiting the growth of the European multiplex assays market. 

This research report on the European multiplex assays market has been segmented and sub-segmented into the following categories

Europe Multiplex Assays Market Analysis By Product

• Consumable
• Kits & Reagents
• Panels

Europe Multiplex Assays Market Analysis By Type

• Nucleic Acid-Based
• Protein-Based

Europe Multiplex Assays Market Analysis By Technology

• PCR
• Multiplex Array

Europe Multiplex Assays Market Analysis By Application

• R&D
• Companion Diagnostics

Europe Multiplex Assays Market Analysis By End User

• Hospitals
• Clinical Laboratory

Europe Multiplex Assays Market Analysis By Country

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

Geographically, the European market accounted for a promising share in the global market in 2023. The advantages of these assays are obvious, such as the capacity to individually and quantitatively assess various analytes in small volumes of material and the collecting of data from multiple beads for each ligand to provide statistical information rigor. During the projection period, the European multiplex assays market holds the second-largest share in the market. The European multiplex assay market is being driven by an increase in the geriatric population and chronic diseases. 

The pharmaceutical and biotechnology firms sector dominates the European multiplex assays market. It is expected to continue over the projected period, owing to increased use in manufacturing and the drug research and discovery process. The primary European market contributors are Germany, the United Kingdom, and France. 

The multiplex assays market in Germany accounts for the largest share of the European market during the forecast period. The market is being propelled by increased clinical trials and R&D investments, well-established healthcare infrastructure, and the increasing prevalence of bone marrow diseases. 

On the other hand, the UK multiplex assays market is likely to witness a considerable share in the European multiplex assays market during the forecast period. The increasing prevalence of chronic diseases, such as cancer, aging population, growing demand for targeted and personalized medicine, and favorable government initiatives are the primary factors driving the growth of the European multiplex assays market. 

KEY MARKET PLAYERS

Companies playing a prominent role in the Europe multiplex assays market profiled in this 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.