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MARKET OUTLOOK

Triton’s research report denotes that the Middle East and Africa’s multiplex assay market is valued to expand at a compound annual growth rate of 6.91% during the projected years 2021-2028. Turkey, South Africa, the UAE, Saudi Arabia, and Rest of Middle East & Africa shape the market in this region.

Turkey is among the leading nations with a developing economy, growing populations, and a rising number of diagnostics tests. These factors are primarily supporting the demand for multiplex assays across the country. Besides, the number of tests performed each year has surged in the past few years, which adds to the market’s growth. Furthermore, the presence of sophisticated healthcare infrastructure, including well-developed laboratories using advanced infrastructure, has increased the demand for multiplex assays. Hence, such developments are estimated to supplement the growth of Turkey’s multiplex assay market in the next few years. 

On the contrary, as per WHO, the number of cancer-related deaths has surged in South Africa in the past few years. This high prevalence of cancer and other chronic conditions has burdened the healthcare system in the country. Among various cancer types, prostate, lung, breast, cervix uteri, and colorectum have emerged as top common cancers. Therefore, the surge in cancer cases influences the demand for multiplex assays, simultaneously boosting the development of the multiplex assay market within South Africa. 

COMPETITIVE OUTLOOK

The notable firms in the multiplex assay market consist of Illumina Inc, Meso Scale Diagnostics LLC, Olink Proteomics AB, Agilent Technologies Inc, Thermo Fisher Scientific Inc, Abcam, and Seegene Inc.