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MARKET OUTLOOK

Triton Market Research’s report calculated that the European multiplex assay market is predicted to exhibit growth at a compound annual growth rate of 8.30% during 2021-2028. Spain, Russia, the United Kingdom, Italy, France, Germany, and Rest of Europe shape the market in this region.

In France, the market is mainly driven by a program related to the development of clinical trials, genome sector, and multiplex assay technologies. Moreover, several other government programs are promoting industrial and academic collaborations to facilitate the discovery of advanced products and technologies. According to the World Population Ageing 2019 report, the population aged 65 years and above is estimated to increase by 2030. Furthermore, several scientific initiatives have been taken in the country, which is estimated to drive the growth of the multiplex assay market across France. 

Similarly, Italy is likely to enhance its research and development expenditure, along with the adoption of various devices, which will enhance the growth of the market. Moreover, the rise in the aging population is likely to increase the prevalence of chronic diseases, influencing the need for advanced healthcare services. In this regard, healthcare expenditure has surged over the past few years, which has encouraged the need for molecular-based PCR tests. Therefore, this rise in healthcare expenditure will propel the multiplex assay market on a growth path within Italy. 

COMPETITIVE OUTLOOK 

The key companies in the multiplex assay market consist of Becton Dickinson and Company, Randox Laboratories Ltd, Illumina Inc, Abcam, Meso Scale Diagnostics LLC, Seegene Inc, Merck Millipore, and Agilent Technologies Inc.