110 results found | searching for "February"
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UAE Fuel Prices February 2025 – Latest Updates & Trends: https://thebrewnews.com/living-in-uae/uae-fuel-prices-february-2025/ [more]
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Intricate Guide for February Birthstone Amethyst A royal Amethyst is the most stunning Quartz crystal in the world. It's the second most excellent crystal in the world, and one can spot it in many colors. Western astrological science appoints Amethyst to Pisces' zodiac sign and is acknowledged as the February Birthstone, making it a good stone for the people born this month. Therefore, as a February baby, you should seek to wear the dazzling and mesmerizing Amethyst Birthstone Jewelry of your choice. Visit: https://www.sagaciajewelry.com/blogs/news/february-birthstone -
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Understanding the $549 Million Base Editing Market: A Deep Dive https://www.marketsandmarkets.com/Market-Reports/base-editing-market-21238371.html The base editing market is projected to reach USD 549 million by 2028 from an estimated USD 270 million in 2023, at a CAGR of 15.2% during the forecast period. Factors like the rising prevalence of genetic diseases, coupled with advancements in molecular biology and biotechnology, has spurred research and development efforts in base editing technologies. Additionally, the growing investment in gene therapy and the biopharmaceutical sector further accelerates the expansion of the base editing market. Download a PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=21238371 Based on product & service, the base editing market is segmented into products and services. The product segment is further categorized as platform, kits & reagents, plasmids, and base editing libraries. The service segment is further categorized as gRNA design/synthesis, cell line engineering, and other services. Platform accounted for the largest share of the global base editing market in 2022. The large share of this segment can primarily be attributed to the increasing demand for base editing in molecular studies and the discovery of new therapies. Based on type, the global base editing market is segmented into DNA base editing, and RNA base editing. In 2022, DNA-targeted base editing accounted for the largest share of the base editing market. The large share of this segment can be attributed to the factor that DNA base editing leads to changes in the genomic DNA sequence, making the edits permanent. This can be advantageous when long-lasting or heritable modifications are desired, as the edited DNA is passed on to subsequent generations of cells. Based on targeted base, the base editing market has been segmented into cytosine base editing, and adenine base editing. In 2022, cytosine base editing accounted for the largest market share because cytosine base editors (CBEs) are designed to convert a C-G base pair to a T-A base pair. This type of transition is more common in naturally occurring DNA sequences, making cytosine editing suitable for introducing changes that are biologically relevant. Based on application, the base editing market has been segmented into drug discovery & development, agriculture, and veterinary. In 2022, the drug discovery & development segment accounted for the largest share of the base editing market. The large share of this segment can be attributed to the potential of base editing for developing novel therapeutic interventions by correcting disease-causing mutations at the DNA or RNA level. This is especially relevant for genetic disorders where a single nucleotide mutation is responsible for the disease. Based on end users, the base editing market has been segmented into pharmaceutical & biotechnology companies, academic research institutes, and contract research organizations. In 2022, the pharmaceutical & biotechnology segment accounted for the largest share of the base editing market. The large share of this segment is due to the potential of base editing in drug development; companies in the pharmaceutical and biotechnology sectors are investing in this technology to secure intellectual property, technology, and product rights and gain a competitive advantage in the rapidly evolving field of genome editing. For instance, in October 2023, Beam Therapeutics announced an agreement with Eli Lilly and Company (Lilly) to acquire certain rights under Beam’s collaboration and license agreement with Verve Therapeutics, Inc., including Beam’s opt-in rights to co-develop and co-commercialize Verve’s base editing programs for cardiovascular disease. The key regional markets for the global base editing market are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2022, North America accounted for the largest share of the market. The large share of this region is due to the robust biotechnology and pharmaceutical industry, with numerous companies dedicated to drug discovery, development, and therapeutic applications. These companies actively invest in and adopt emerging technologies like base editing for advancing their research and product pipelines. However, most of the growth in the market is expected from emerging countries across Asia Pacific. During the forecast period, the Asia Pacific is expected to be the fastest-growing regional market. Factors such as the emergence of CROs for outsourcing drug discovery-related research projects and increasing pharmaceutical drug pipelines are driving growth in these markets. Key players in the global Base editing market include Danaher Corporation (US), Merck KGaA (Germany), Revvity (US), Maravai LifeSciences (US), GenScript (China), Beam Therapeutics (US), Intellia Therapeutics, Inc. (US), Cellectis (France), ElevateBio (US), Creative Biogene (US), Bio Palette Co., Ltd (Japan), Addgene (US), Synthego (US), EdiGene, Inc. (China), Shape TX (US), Pairwise (US), ProQR Therapeutics (Netherlands), QI-Biodesign (China), KromaTiD, Inc. (US), and GenKOre. (South Korea). Recent Developments of Base Editing Industry: In May 2023, Revvity entered into a license agreement with AstraZeneca for the technology underlying its Pin-point base editing system, a next-generation modular gene editing platform with a strong safety profile to support their creation of cell therapies for the treatment of cancer and immune-mediated diseases. In July 2022, Beam Therapeutics entered a collaboration with Verve Therapeutics. Beam Tx granted Verve Tx a license toward an additional liver-mediated cardiovascular disease target. In February 2022, Intellia Therapeutics acquired Rewrite Therapeutics; a private biotechnology company focused on advancing novel DNA writing technologies. This acquisition has expanded Intellia’s industry-leading genome editing toolbox by adding a platform that is highly complementary to its existing CRISPR/Cas9 and base editing technologies. -
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Innovations in Digital Diabetes Management: Transforming Patient Care https://www.marketsandmarkets.com/Market-Reports/digital-diabetes-management-market-144725893.html The global digital diabetes management market is projected to reach USD 35.8 Billion by 2028 from an estimated USD 18.9 Billion in 2023, at a CAGR of 13.6% during the forecast period. The growing number of people with diabetes has led to an increased focus on developing and adopting better diabetes care solutions. Advances in technology have made it possible to create more flexible and sophisticated solutions. The increasing use of cloud-based enterprise solutions and connected devices and apps are also driving market growth. However, high device costs, lack of reimbursement in developing countries, and the preference for traditional diabetes management devices are expected to slow market growth. Download a PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=144725893 The digital diabetes management market offers a wide range of devices, apps, data management software & platforms, and services. Smart glucose metres, continuous glucose monitoring (CGM) systems, smart insulin pens, smart insulin pumps/closed-loop systems, and smart insulin patches are included in the devices segment. Similarly, the digital diabetes management apps segment is further sub-segmented into diabetes & blood glucose tracking apps and obesity & diet management apps. In 2022, the devices segment held the largest market share for digital diabetes management, with 76.4%. Factors such as the increasing demand for wireless and wearable devices for diabetes management, growing acceptance of smart insulin pumps & pens for insulin delivery, and the growing awareness about continuous glucose monitoring in patients are driving the market growth. Different types of digital diabetes management device studied in the report are handheld devices and wearable devices. Among these, the The market for digital diabetes management devices in 2022 was dominated by wearables, with a share of 60.3%. By 2028, this market is expected to have grown from USD 8,876.3 million in 2023 to USD 18,557.3 million. Technology advancements like closed-loop pump systems, smart insulin patches, and other pipeline devices, as well as factors like the growing use of smart insulin pumps and insulin patches for self-insulin delivery in diabetes management, are all the factors that are boosting the wearable devices segment's growth.. Various end users of the digital diabetes management market are self/home healthcare, hospitals & specialty diabetes clinics, and academic & research institutes. The self/home healthcare accounted for the largest share of 79.9% of the digital diabetes management market in 2022. The large share of this segment can mainly be credited to technological advancements and a shift toward home care and self-management of diabetes. North America is estimated to grow at the highest CAGR during the forecast period. The region also accounted for the largest market share of 45.3%, followed by Europe with a share of 28.1% in 2022. Various factors attributing to the growth of the digital diabetes management market in North America are growing adoption of connected diabetes management devices, high adoption of diabetes management apps, growing demand for integrated hybrid closed-loop systems, favorable reimbursement policies, and government initiatives to promote digital health in the region. Furthermore, In Asia Pacific, countries such as China and India have a high prevalence rate of diabetes, primarily due to the increasing urbanization, population and lifestyle changes. The increasing incidence of diabetes, rising awareness, high undiagnosed population, and the rising penetration of smartphones and tablets have propelled the adoption of digital diabetes management solutions in the region. The prominent players operating in the global digital diabetes management market are Medtronic (Ireland), B. Braun Melsungen AG (Germany), Dexcom, Inc. (US), Abbott Laboratories (US), F. Hoffmann-La Roche (Switzerland), Insulet Corporation (US), Tandem Diabetes Care (US), Ascensia Diabetes Care Holdings AG (Switzerland), LifeScan, Inc. (US), Tidepool (US), AgaMatrix (US), Glooko, Inc. (US), DarioHealth Corporation (Israel), One Drop (US), Dottli (Finland), Ypsomed Holding AG (Switzerland), ARKRAY (Japan), ACON Laboratories, Inc. (US), Care Innovations, LLC (US), Health2Sync (Taiwan), Emperra GmbH E-Health Technologies (Germany), Azumio (US), Decide Clinical Software GmbH (Austria), Pendiq GmbH (Germany), and BeatO (India). Recent Developments of Digital Diabetes Management Industry In February 2023, Dexcom launched Dexcom G7 CGM device in the US and is planning to launch in Europe and Asia Pacific by first quarter of 2024 In October 2022, Abbott laboratories launched Freestyle Libre 3 CGM device worldwide. In April 2022, Dexcom launched Dexcom ONE device. The company launched the new Dexcom ONE Continuous Glucose Monitoring System in the UK. In April 2022, Ascensia Diabetes Care Holdings AG (Switzerland) launched Eversense's 6-month CGM system in the US. In October 2021, LifeScan, Inc. (US) launched OneTouch Solutions. This is a holistic digital health offering linking people with diabetes to solutions and support from proven experts. In September 2020, Roche Diagnostics (Switzerland) launched a remote patient monitoring ssolution, which is a new element of the RocheDiabetes Care Platform and uses its pattern detection feature. -
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Key Factors Driving the $12.6 Billion Healthcare Analytical Testing Services Market https://www.marketsandmarkets.com/Market-Reports/healthcare-analytical-testing-services-market-108923833.html The Healthcare analytical testing services Market is projected to reach a valuation of USD 7.4 billion in 2024, with an anticipated surge to USD 12.6 billion by 2029, exhibiting a CAGR of 11.2% throughout the forecast period. There are noticeable investments in research and development (R&D) in pharma and biopharma industry to expand manufacturing capacities in response to the escalating demand for drugs. The healthcare analytical testing services market is growing due to increasing demand for solutions, challenges in developing proper techniques, and government initiatives to bolster testing capabilities. However, lack of skilled professionals and rising cost and competition will affect market growth negatively during the forecast period. Download a PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=108923833 The healthcare analytical testing services market is segmented based on the end users it serves, which include pharmaceutical and biopharmaceutical companies, medical device manufacturers, forensic labs, hospitals and clinics, and cosmetic and nutraceutical producers. Among these segments, pharmaceutical companies stood out as the largest contributors to the market in 2023. This prominence can be attributed to the increasing reliance of these companies on outsourcing healthcare analytical testing services. By outsourcing such services, pharmaceutical and biopharmaceutical companies can optimize their profit margins and focus more effectively on their core competencies, such as drug discovery and development. This strategic shift allows them to leverage the specialized expertise and resources of analytical testing service providers, thereby driving growth in the market. Based on type, the healthcare analytical testing services market encompasses various segments such as bioanalytical testing, physical characterization, method development and validation, stability testing, batch-release testing, raw material testing, microbial testing, genomic services, and environmental monitoring services. In 2023, the biohealthcare analytical testing services segment emerged as the dominant contributor to the market. This segment's significant share can be attributed to its offering of comprehensive bioanalytical testing solutions catering to a diverse array of drug types available in the market, spanning vaccines, small molecules, biologics, and more. The breadth of services provided within this segment addresses the multifaceted needs of pharmaceutical, biopharmaceutical, and medical device companies, thus driving its prominence in the market landscape. North America has taken the forefront in the healthcare analytical testing services market, boasting the largest share among the segmented regions. This prominence is fueled by several factors contributing to the region's robust growth. Firstly, In the US, a pivotal player in the region, there has been a considerable surge in the pharmaceutical and biopharmaceutical companies, thereby driving the demand for healthcare analytical testing services. Furthermore, the presence of well-established market players within the US market further strengthens North America's position, as these entities contribute to the market's overall growth and innovation. Additionally, the region benefits from advanced healthcare infrastructure and regulatory frameworks conducive to the expansion of healthcare analytical testing services, reinforcing its leading status in the market. Major Players: Eurofins Scientific (Luxembourg), Laboratory Corporation of America Holdings (US), SGS S.A. (Switzerland), Charles River Laboratories (US), WuXi AppTec Co. Ltd. (China), Element Materials Technology (UK), Thermo Fisher Scientific, Inc. (US), Pace Analytical Services LLC (US), Intertek Group plc (UK), IQVIA Inc. (US), Merck KGaA (Germany), Source BioScience (UK), Almac Group (UK), ICON Plc (Ireland), Frontage Laboratories, Inc. (US), STERIS Plc (US), Sartorius AG (Germany), ALS Life Science (US), Syneos Health, INC (US), Medpace Holdings, Inc. (US), LGC Limited (UK), Parexel International Corporation (US), Celerion (US). Pharmaron (China), and BioAgilytix Labs (US). Recent Developments of Healthcare Analytical Testing Services Industry: In March 2024, Thermo Fisher Scientific Inc. (US), collaborated with Symphogen (US), to provide biopharmaceutical discovery and development laboratories with innovative tools and streamlined workflows for efficient characterization of complex therapeutic proteins In February 2024, Charles River Laboratories (US) partnered with Wheeler Bio, Inc. (US). This agreement accelerates the transition from preclinical to early clinical stages for biotech firms, streamlining processes and providing a comprehensive solution. In May 2023, Laboratory Corporation of America Holdings (US Collaborated with Forge Biologics (US) to advance gene therapy development and manufacturing. This collaboration aims to expedite clinical timelines, overcome analytical development barriers, and address regulatory hurdles associated with manufacturing and development processes. In May 2023, SGS S.A. (Switzerland), SGS SA acquired a majority stake in Nutrasource Pharmaceutical and Nutraceutical Services Inc.(Canada0), Initially acquiring 60% of Nutrasource's shares, SGS also has the option to acquire the remaining 40% in 2026. This strategic acquisition strengthens SGS's presence in key market segments and enhances its ability to deliver comprehensive services to clients worldwide. In July 2022, Eurofins Scientific (Luxembourg), acquired WESSLING (Hungary), to strengthen its presence in Central and Eastern Europe and to enhance its BioPharma Product Testing capabilities. -
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Comprehensive Analysis: Medical Display Market to Reach $2.9 Billion by 2028 https://www.marketsandmarkets.com/Market-Reports/medical-display-market-74058413.html The global Medical Display Market is projected to reach USD 2.9 billion by 2028 from USD 2.3 billion in 2023, at a CAGR of 5.2% during the forecast period. There are several factors which drive the medical display market like rising technological advancements, increasing demand for diagnostic imaging, rising awareness and adoption of minimally invasive procedures and surge in telemedicine and remote diagnostics. In this report, the Medical Display Market is segmented on the basis of technology, panel size, resolution, display color, application and region. Download a PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=74058413 Medical Display Market by Technology (LED-Backlit LCD Displays, CCFL-Backlit LCD Displays, OLED Displays), Panel Size (Under 22.9 inch panels, 23.9-26.9 inch panels, 27-41.9 inch panels), Resolution, Display Color, Application - Global Forecast to 2028 Based on technology, the market is segmented into LED-Backlit LCD Displays, CCFL-Backlit LCD Displays, OLED Displays. The U LED-Backlit LCD Displays segment accounted for the largest share of the global medical display market in 2022. Increasing Demand for LED medical displays due to its availability in a wide range of sizes and offer numerous advantages over conventional CCFL-backlit LCD display, such as clear medical images, bright color, good stability, high brightness, high efficiency, long service life, and low energy consumption. LED backlighting technology provides higher brightness and contrast ratios compared to CCFL backlights. Based on Panel Size, the Medical Display Market is segmented into Under 22.9 Inch Panels, 23.0-26.9 Inch Panels, 27.0-41.9 Inch Panels, Above 42 Inch Panels. 27.0-41.9 Inch Panels accounted for the largest share of the Medical display Market in 2022. This panels strike a balance between screen real estate and space requirements. They are versatile enough to be used in various medical imaging applications, including radiology, surgical suites, or dental clinics are some of the factors that contribute to the big proportion of this market. Based on Resolution, the Medical Display Market is segmented into Up to 2MP, 2.1–4MP, 4.1–8MP, Above 8MP. 4.1–8MP accounted for the largest share of the Medical display Market in 2022. These displays can support 10-bit input for each RGB color, provide sRGB over 99, and display more than one billion colors simultaneously to ensure accurate color reproduction in operating rooms. Considering the above-mentioned functionalities, coupled with the growing volume of surgical procedures, the demand for these displays is expected to increase in the coming years. Based on Display Color, the Medical Display Market is segmented into Color and Monochrome & Grayscale. Color segment accounted for the largest share of the Medical display Market in 2022. Factors such as enhanced visualization, technological advancements, increasing complexity of medical imaging, improved patient care and safety, integration with picture archiving and communication systems (PACS), and advantages of color displays over grayscale displays such as enhanced contrast and differentiation, improved depth perception, enhanced communication and collaboration, multi-modality application are responsible for the large adoption of color displays in the healthcare industry Based on Application, the Medical Display Market is segmented into Diagnostic, Surgical/ Interventional, Dentistry and others. Diagnostic segment accounted for the largest share of the Medical display Market in 2022. Factors such as the large share of this segment can be attributed to the rapidly increasing prevalence of diseases such as cancer and the increasing number of patients being screened using imaging systems are some of the factors that contribute to the big proportion of this market. The Medical Display Market is divided into five regions based on geography: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2021, North America held the highest market share for the global Medical Display Market. North America has a major share of the market because of the presence of good healthcare infrastructure, as well as the rising R&D investment on medical devices. Barco NV (Belgium), Eizo (Japan), Sony Electronics Inc. (Japan), Lg Electronics (South Korea), Novanta (US), FSN Medical Technologies (South Korea), Advantech (Taiwan), Quest International (US), Steris (UK), Jusha Medical (China), Siemens Healthineers Ag (Germany), Double Black Imaging (US), HP Development Co. Ltd (US), Stryker (US), and Coje Display (South Korea) Recent Developments of Medical Display Industry In April 2023, LG electronics launched 32HQ713D-B, which has latest high-resolution 8MP diagnostic medical monitor. It combines 1000 nits of brightness with LG’s proprietary IPS Black panel to deliver an enhanced 2,000:1 contrast ratio with deep blacks, while greatly simplifying color calibration through an automatic integrated sensor and software. In February 2023, Eizo launched a 21.3-inch 2-megapixel (1200 x 1600 pixels) color monitor for displaying patient charts and reviewing diagnostic imaging in hospital and clinic environments. In November 2022, Barco launched two displays. Io Gray 5.8 MP for the breast imaging and MDSC-8532 and MDSC-8527 4K UHD for surgical display. In July 2022, Eizo launched launched four new monitors ranging from 32 to 55 inches with 4K UHD resolution (3840 x 2160 pixels) for use in endoscopy, microsurgery, and other high-precision procedures in the operating room (OR). -
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Market Surge: Physiotherapy Equipment Expected to Hit $24.5 Billion by 2027 https://www.marketsandmarkets.com/Market-Reports/physiotherapy-equipment-market-65250228.html The global physiotherapy equipment market is projected to reach USD 24.5 billion by 2027 from USD 18.4 billion in 2022, at a CAGR of 6.0% during the forecast period. The growing demand for rehabilitative care, the growing incidence of sports injuries, degenerative joint disorders, and cerebrovascular disease, and rapidly growing geriatric population; the subsequent increase in the global prevalence of chronic diseases is driving the growth of market. Download a PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=65250228 In this report, the physiotherapy equipment market is segmented on the basis of product, application, end user, and region. Based on product, the physiotherapy equipment market is divided into two major segments, namely, equipment and accessories. The equipment segment accounted for the largest share of the physiotherapy equipment market in 2021. Market growth is largely driven by factors such as the rapidly aging population, the growing adoption of healthier lifestyle habits, as well as the increasing incidence of injuries and chronic diseases. The equipment segment is further segmented into electrotherapy equipment, ultrasound equipment, exercise therapy equipment, heat therapy equipment, cryotherapy equipment, combination therapy equipment, continuous passive motion therapy equipment, shockwave therapy equipment, laser therapy equipment, magnetic pressure therapy equipment, traction therapy, and other physiotherapy equipment (hydrotherapy and vacuum therapy). Electrotherapy equipment dominates the market with a share of about 25.6% in 2021, owing to their significant use in the treatment of musculoskeletal conditions with minimal/no side effects. Based on the application, the physiotherapy equipment market is segmented into musculoskeletal applications, neurological applications, cardiovascular and pulmonary applications, pediatric applications, gynecological applications, and other applications (including sports and palliative care). In 2021, the musculoskeletal applications segment accounted for the largest share of physiotherapy equipment market, which can be attributed to the rising incidence of musculoskeletal disorders, growth in the geriatric population, and the increasing number of accidents. Based on End User, the physiotherapy equipment market is segmented into physiotherapy & rehabilitation centers, hospitals, home care settings, physician offices, and other end users (community health centers and elderly care facilities). In 2021, physiotherapy & rehabilitation centers accounted for the largest share of the physiotherapy equipment market. This can primarily be attributed to the wide usage of physiotherapy equipment in these centers and the increased availability of specialized physiotherapists in such facilities. In 2021, Europe accounted for the largest share of the global physiotherapy equipment market. The large share of this regional segment can be attributed to the rising geriatric population, increasing inclination for active lifestyles, the penetration of physiotherapy services, and favorable healthcare reforms. The Asia Pacific market is projected to register the highest CAGR during the forecast period. Market growth in the Asia Pacific is attributed to the growth in emerging markets such as China and India, that are expected to present significant growth opportunities for the major stakeholders in the physiotherapy market. Additionally, increasing healthcare awareness and growing number of healthcare facilities in Asian countries are also the key factors supporting the market growth. Major Companies: Colfax Corp. (US), BTL Industries (UK), Performance Health (US), ITO Co., Ltd. (Japan), Enraf-Nonius B.V. (Netherlands), Dynatronics Corporation (US), Mectronic Medicale (Italy), EMS Physio Ltd. (UK), Whitehall Manufacturing (US), Zimmer MedizinSysteme GmbH (Germany), Zynex Inc, (US), Richmar (US), Life Care Systems (India), Storz Medical AG (Germany), Mettler Electronics Corp (US), Algeos (UK), Gymna (Belgium), Astar (Poland), HMS Medical Systems (India), Embitron s.r.o (Czech Republic), Proxomed (Germany), Tecnobody (Italy), Johari Digitals (India), Power Medic (Denmark), and CoolSystems Inc. (US) Recent Developments of Physiotherapy Equipment Industry In February 2022, Colfax Corp (US), announced the renewal of the partnership with Professional Football Athletic Trainer Society (PFATS, US), that allowed the company to endorse and recommend its products to certified athletic trainers. In January 2022, BTL Industries (UK) acquired Schepp MedTech (US). This acquisition was carried out for robots to enhance BTL's already very complex physiotherapy product portfolio. In January 2022, Zynex, Inc. (US) announced the launch of Post-operative and OA (Osteoarthritis) knee braces. The Knee braces can limit the wear and tear on the affected joint, enabling inflammation to settle and reduce pain/degeneration of the affected knee joint and thereby delaying or minimizing the need for surgery. In January 2021, Dynatronic Corporation (US) launched a new bariatric stand-in table with a motorized patient lift and an H-brace treatment table. -
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Market Surge: Multiplex Assays Expected to Hit $5.3 Billion https://www.marketsandmarkets.com/Market-Reports/multiplex-assays-market-61593314.html The multiplex assays market is valued at an estimated USD 3.5 billion in 2022 and is projected to reach USD 5.3 billion by 2027, at a CAGR of 8.8% during the forecast period. The increasing applications of companion diagnostics in drug development and the significance of multiplex assays in companion diagnostics are expected to drive the multiplex assays market. Download a PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=61593314 Based on product & service, the multiplex assays market is segmented into three broad categories, namely, consumables, instruments, and software & services. In 2022, the consumables segment accounted for the largest share of the market. The availability of a wide range of reagents and kits and increasing use of assays in different oncology therapeutic treatments are some of the major factors driving the growth of the consumables market. On the basis of type, the multiplex assays market is segmented into protein, nucleic acid, and cell-based multiplex assays. The nucleic acid multiplex assays segment is further divided into planar, bead-based, and other nucleic acid multiplex assays. The protein multiplex assays segment is further categorized into planar, bead-based, and other protein multiplex assays. The protein multiplex assays segment accounted for the largest share of the global multiplex assays market in 2022. Protein multiplex assays are preferred over traditional protein analysis tools mainly due to their distinct advantages, such as the simultaneous profiling of multiple analytes using smaller sample amounts. Such distinct features make protein multiplex assays more suitable for research applications where samples are scarce and valuable resources. This is expected to support market growth of this segment. Based on technology, the multiplex assays market is divided into flow cytometry, fluorescence detection, luminescence, multiplex real-time PCR, and other technologies. In 2022, the flow cytometry segment accounted for the largest share of the global multiplex assays market. Its wide applications in protein expression, RNA, and cell health status makes it the largest market segment. Based on applications, the multiplex assays market is segmented into research & development (drug discovery & development and biomarker discovery & validation) and clinical diagnostics (infectious diseases, cancer, cardiovascular diseases, autoimmune diseases, nervous system disorders, metabolism & endocrinology disorders, and other diseases). The research & development application segment is expected to account for the largest share of the multiplex assays market in 2022. Multiplex assays are easy to use and are associated with reduced turnaround times, owing to which they are preferred for research & development applications as compared to conventional single plex assays. The global multiplex assays market has been segmented into five major regions— North America, Europe, the Asia Pacific, and the Rest of the World (RoW). In 2022, North America accounted for the largest share of the global multiplex assays market. The large share of North America in the global market is attributed to factors such as the rising amount of government funding for R&D in multiplex assays; an increasing number of seminars and workshops about emerging technologies in the domain of multiplex assays; the growing adoption of companion diagnostics for personalized treatment; and the rising need for effective analytical platforms to reduce operational costs. Major Companies: Illumina, Inc. (US), Thermo Fisher Scientific, Inc. (US), Bio-Rad Laboratories, Inc. (US), Becton, Dickinson and Company (US), DiaSorin S.p.A. (Italy), QIAGEN N.V. (Netherlands), Abcam plc (UK), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Quanterix (US), Bio-Techne (US), MESO SCALE DIAGNOSTICS, LLC (US), Randox Laboratories Ltd. (UK), Olink (Sweden), Seegene Inc. (South Korea), Siemens Healthcare AG (Germany), PerkinElmer Inc. (US), Shimadzu Corporation (Japan), Promega Corporation (US), Enzo Biochem Inc. (US), Cayman Chemical (US), Boster Biological Technology (US), Antigenix America, Inc. (US), Quansys Biosciences Inc. (US), and RayBiotech Life, Inc. (US). Recent Developments In September 2021, Bio-Rad Laboratories launched its Bio-Plex Pro Human IgA and IgM SARS-CoV-2 panels to detect IgA and IgM antibodies against four SARS-CoV-2 antigens. The panels are for research use only (RUO). In September, DiaSorin S.p.A. received the CE mark approval for its Simplexa COVID-19 & Flu A/B Direct kit, a multiplex test for the in vitro qualitative detection and differentiation of nucleic acid from severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), influenza A virus, and influenza B virus from the same patient sample in one reaction well. The assay is designed for use on the LIAISON MDX and is run directly from nasopharyngeal swabs (NPS) without the need for offboard extraction. In August 2021, Becton, Dickinson and Company launched its new and fully automated high-throughput diagnostic system, BD COR System. The system uses robotics and sample management software algorithms to set a new standard in automation for infectious disease molecular testing in core laboratories and other centralized laboratories in the US. In July 2021, DiaSorin S.p.A. acquired the leading company of multiplex assays, Luminex Corporation, for a price of USD 37.00 per share, that corresponds to a total equity value of approximately USD 1.8 billion. In February 2021, Thermo Fisher Scientific acquired Mesa Biotech, a privately-held point-of-care molecular diagnostic company. This acquisition strengthened Thermo Fisher's operational excellence, access to raw materials, and existing distribution & sales channels with Mesa's innovative platform with a diverse array of diagnostic products, such as Accula System by Mesa Biotech that is dedicated to COVID-19 testing.
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