This research report makes use of SWOT analysis and Porter’s Five Forces analysis to disclose the strengths, weaknesses, opportunities, and threats in the HELATH industry. This report is an important source of guidance for companies and individuals offering industry chain structure, business strategies and proposals for new project investments. Analysis and estimation of important industry trends, market size, and market share are mentioned in this market report.
According to a World Health Organization (WHO) report updated in September 2021, more than 55 million people worldwide live with dementia, and nearly 10 million new cases are diagnosed each year, with Alzheimer's disease (AD) accounting for the majority of cases. Several multiplex panels have been developed to detect such rare diseases. For example, the April 2021 article "Advances in multiplex PCR for Alzheimer's disease diagnostics targeting CDK genes" stated that the study's researchers developed a multiplex-PCR (polymerase chain reaction) based diagnostic method that demonstrated the rapid and accurate detection of AD biomarkers. Such advancements and research increase the demand for syndromic multiplex diagnostics, propelling the market forward.
Data Bridge Market Research analyses that the Europe syndromic multiplex diagnostic market which is USD 3879.99 million in 2022, is expected to reach USD 7562.53 million by 2030, at a CAGR of 8.7% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Some of the major players operating in the syndromic multiplex diagnostic market are:
- Seegene Inc. (South Korea)
- Luminex Corporation (U.S.)
- F. Hoffmann-La Roche Ltd (Switzerland)
- BD (U.S.)
- Bio-Rad Laboratories, Inc. (U.S.)
- Danaher (U.S.)
- QIAGEN (Germany)
- Abbott (U.S.)
- Hologic, Inc. (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
- Siemens Healthcare GmbH (Germany)
- Biocartis (Belgium)
- QuantuMDx Group Ltd. (U.K.)
- Bosch Healthcare Solutions GmbH (Germany)
- Prominex Inc. (U.S.)
- Curetis (Germany)
Drivers
- The rising demand for the diagnostic procedure for infectious diseases
Most patients' first symptoms of an infectious disease are not specific to the source of infection: fever, diarrhoea, coughing, headache, and so on. Traditionally, identifying the responsible disease agents involved testing for the most likely cause of a disease, waiting for test results, and then repeating the process if the results were negative.
As a result, the syndromic approach, which uses a single test for all microorganisms suspected of causing infectious disease, offers a novel approach to the problem of infectious disease diagnosis. When a disease is diagnosed, time is saved and the patient can begin treatment sooner. The syndromic multiplex diagnostic test provides more accurate, realistic, and comprehensive results in critical care. For instance, the BIOFIRE FILMARRAY technology, uses a single test to detect bacteria, viruses, fungi, or parasites that can cause infectious disease, with results available in 45 to 65 minutes.
- Rising demand for precise and timely results
Globally, there is an increasing demand for precise and timely results. For instance, Hologic, will launch the Novodiag System in Europe in October 2021. Novodiag is a fully automated molecular diagnostic solution for on-demand testing of infectious diseases and antimicrobial resistance. QuantuMDx will also launch its Q-POC, a rapid PCR point-of-care diagnostic system, in July 2021. QuantuMDx's Q-POC system and its first test, a SARS-CoV-2 detection assay, have also received CE-IVD marking under the In Vitro Diagnostics Directive, allowing them to be used in Europe. Such developments are expected to fuel market growth.
- Rising diagnostic healthcare expenditure
Rising healthcare spending is expected to increase service availability and affordability, allowing patients to select better and more precise diagnostic services to manage their diseases. Increased healthcare spending makes diagnostic services more readily available. As a result, high health-care spending is a positive factor driving the syndromic multiplex diagnostic market's growth.
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- Country-specific market size splits for the most important countries with major market shares.
- Market share and revenue/sales data for the industry's leading players.
- Analysis of market trends such as emerging technologies, products, and start-ups, as well as PESTEL Analysis, SWOT Analysis, Porter's Five Forces, and more.
- Detailed market size data, including breakdowns by application/industry verticals.
- Projections and forecasts for the market's future growth and development.
Core Objective of the This Market:
- This Market Size and growth rate factors.
- Important changes in the future this Market.
- Top worldwide competitors of the Market.
- Scope and product outlook of This Market.
- Developing regions with potential growth in the future.
- Tough Challenges and risk faced in Market.
- Global top manufacturers profile and sales statistics.
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