Global Multiplex Biomarker Imaging Market Set to Grow 12.3 Percent

The global multiplex biomarker imaging market was valued at approximately USD 265.9 million in 2017 and is expected to generate revenue of around USD 608.2 million by end of 2024, growing at a CAGR of around 12.3 percent between 2018 and 2024. Increasing demand for analysis of the diseases and imaging has accelerated the growth of the multiplex biomarker imaging market over the estimated time. The multiplex biomarker imaging market is mainly driven by its prominent characteristics such as cost-effectiveness and better analysis features which include the analysis of thousands of tissues in a single turn. Furthermore, the multiplex biomarker imaging market is driven by the upsurge demand for clinical diagnostics due to the invasion of chronic diseases. The multiplex biomarker imaging is a significant tool as they provide the expression of appropriate targetable surface markers, hemoglobin status, detection of exact tumor location, documentation of drug delivery, the presence of apoptosis, etc.

However, the complex process and the ethical issues involved along with the stringent policies of the government are acting as the restraint for the multiplex biomarker imaging market and may affect its growth in the long term. Nonetheless, reagent has significant potential for the anticancer drug discovery by detecting the proteins that are prominent for regulating protein networks, which is likely to disclose the new avenues for the market. Global multiplex biomarker imaging market is divided into its application, imaging techniques, and end-user. On the basis of the application, the market is divided into drug safety, oncology studies, and genetic characterization studies. Based on imaging techniques multiplex biomarker imaging market is categorized into immunofluorescence (IF) assay, tissue microarray (TMA) assay, immunohistochemistry (IHC) assay, fluorescent in the situ hybridization (FISH) assay, and toponome imaging system (TIS). On the basis of the end user, the multiplex biomarker imaging market is segregated as research institutes government & private, clinical labs, and pharmaceutical & biotechnology.

Based on region, the global multiplex biomarker imaging market is segmented as North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. In the multiplex biomarker imaging market, North America is anticipated to dominate the regional segment. Furthermore, in the North America region, the U.S is estimated to witness significant demand for prominent diagnostic reagents. Europe is estimated to be following the footsteps of North America. Asia Pacific region is expected to be the significantly growing region for the multiplex biomarker imaging market. Additionally, Latin America and the Middle East & Africa will show the moderate CAGR growth in multiplex biomarker imaging market. Some of the key players in multiplex biomarker imaging market include Thermo Fisher Scientific, PerkinElmer Inc., Bio-Rad Laboratories, Inc., Abcam Plc., US Biomax Inc., Merck KGaA, ToposNomos Ltd., MicroConstants, Inc., Aushon BioSystems Ltd., Ventana Medical Systems, Inc., Leica Biosystems Nussloch GmbH, Illumina Inc., and others. – Zion Market Research