Syndromic Multiplex Diagnostic Market Share, Demand, Industry Trends, Growth Opportunities and Revenue Outlook

Global Syndromic Multiplex Diagnostic Market survey report assists directing the business in correct direction by giving insights about products, market, customers, competitors and marketing strategy at exact time. The report introduces top to bottom evaluation of the Healthcare industry including empowering technologies, key trends, market drivers, challenges, standardization, regulatory landscape, opportunities, future guide, value chain, ecosystem player profiles and strategies. This market report is a resource that makes available recent as well as upcoming technical and financial details of the industry to 2030. A lot of hard work has been involved while generating an excellent Global Syndromic Multiplex Diagnostic Market research report where no stone is left unturned.

The data collected to structure the large scale Global Syndromic Multiplex Diagnostic Marketreport is based on the data collection modules with large sample sizes. This market analysis report also includes CAGR value fluctuations with respect to rise or fall for the certain forecast period. The key highlights of this market report are key market dynamics, current market scenario and future prospects of the sector. Furthermore, emerging product trends, major drivers, challenges and opportunities in the market are recognized and analysed factually while generating this report. With the exploitation of well established tools and techniques in the winning Global Syndromic Multiplex Diagnostic Market report, complex market insights are turned into simpler version.

Data Bridge Market Research analyses that the global syndromic multiplex diagnostic market will grow at a CAGR of 8.7% during the forecast period of 2022 to 2029.

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Infectious disease cases are rapidly growing all over the world. Infectious diseases can transmit indirectly, directly, or from person to person. According to the Centers for Disease Control and Prevention (CDC), the United States had around 53,544 fatalities from pneumonia and influenza in 2020. Because syndromic multiplex diagnostics are utilized for molecular diagnostics, the rising prevalence of infectious diseases has an impact on market demand.

Syndromic multiplex testing utilizes the advanced technology of multiplex PCR which provides accurate and fast diagnostic results with the help of the multiple panels used in syndromic multiplex diagnostic to provide diagnostic results within an hour. The new generations of syndromic multiplex can rapidly identify the common type of pathogens in the respiratory specimens, blood and cerebrospinal. The use of multiplex panels is associated with quicker turnaround time, reduction of other unnecessary laboratory tests, faster diagnosis and targeted treatment.

Growing prevalence of diseases is expected to drive the market’s growth rate

The market is being driven by factors such as the rising disease burden in recent years. This increased need for reliable and timely test results, contributing to market growth throughout the projection period. According to World Health Organization 2021 data, chronic respiratory disorders impact more than one billion people worldwide. Furthermore, according to Lung India data as of August 2022, the prevalence of Asthma among Indian children was around 18.2%. According to the same source, there is a higher prevalence of severe asthma in emerging economies in the Middle East and Africa than in North America and Europe. Several multiplex panels have been designed to detect such uncommon disorders.

Drivers

• Rise in prevalence of infectious diseases

The rising incidence of infectious bacterial and viral diseases impacts the market’s demand because, in the syndromic testing, multiplex real-time PCR technique and the syndromic approach are used for molecular diagnostics of infectious diseases.

• Rise in adoption of molecular diagnostic techniques

Molecular diagnostics also help address the need for tests that monitor the therapeutic efficacy of pharmaceuticals. In this way, diagnostic laboratories or other end-users provide the highest levels of reliability and the greatest speed.

Recent Developments

• In March 2021, BioFire Diagnostics (A Subsidiary of biomérieux SA) received the market authorization for BioFire respiratory panel 2.1, a diagnostic test for detecting and identifying multiple respiratory viral and bacterial infections nucleic acids in nasopharyngeal swabs. This has helped the company to commercialize its product
• In March 2021, F. Hoffmann-La Roche Ltd entered into a definitive merger agreement for Roche to fully acquire GenMark Diagnostics. This has helped the company to increase its portfolio

Major Players

Data Bridge Market Research recognizes the following companies as the major market players: Seegene Inc. (South Korea), Luminex Corporation (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), BD (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Cepheid  (U.S.), QIAGEN (Germany), Abbott (U.S.), Hologic, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Siemens Healthcare GmbH (Germany), Akonni Biosystems, Inc. (U.S.), Biocartis (Belgium), QuantuMDx Group Ltd. (U.K.), Robert Bosch GmbH (Germany), Applied BioCode, Inc. (U.S.), Prominex Inc. (U.S.), Nanomix, Inc. (U.S.), Curetis (A subsidiary of OpGen, Inc.) (Germany), MiRXES Pte Ltd (Singapore).

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Market Development

• In 2022, Cipla commercially launched the RT-Direct multiplex COVID-19 RT-PCR test kit in India, winning a partnership with Genese2Me Pvt Ltd. This test kit is able to detect multiple strains of COVID-19, including the Omicron variant. The COVID-19 pandemic has led to a global shortage of syndromic multiplex diagnostic tests. This has created an opportunity for new players in the market, such as Cipla and Hologic.
• In 2021, Hologic launched the Novodiag System in Europe. Novodiag is a fully automated molecular diagnostic solution for on-demand testing of infectious diseases and antimicrobial resistance. This system can test for multiple pathogens in a single sample, which can help to save time and resources. The development of new multiplexing technologies is also driving market growth. These technologies make it possible to test for multiple pathogens in a single sample, which can improve the accuracy and speed of diagnosis.
• In 2021, Eurofins launched a multiplex PCR Assay for rapid detection of the B.1.617 SARS-CoV-2 variant. This assay can detect the variant in as little as 24 hours, which can help to speed up the diagnosis and treatment of patients. The increasing prevalence of infectious diseases is another factor driving market growth. As the world’s population grows and ages, the risk of infectious diseases is also increasing.

Segment Analysis:

The syndromic multiplex diagnostic market is segmented on the basis of product and services, infection type, disease, panels type and end user.

• Based on products and services, the global syndromic multiplex diagnostic market is segmented into reagents & consumables, instruments, software and accessories and services.

The reagents & consumables segment of products and services segment is anticipated to dominate the syndromic multiplex diagnostic market

The reagents & consumables segment is expected to dominate the global syndromic multiplex diagnostic market with a 69.95% share because of growing demand of reagents and consumables for the diagnosis of infectious diseases such as meningitis, respiratory infections, gastroenteritis, sepsis, among others.

• Based on infection type, the global syndromic multiplex diagnostic market is segmented into viral, bacterial, parasites and fungal. The viral segment is expected to dominate the global syndromic multiplex diagnostic market with a 52.54% share because of rising number of diagnostic tests for viral diseases, such as adenovirus, coronavirus, rhinovirus, rotavirus, adenovirus, and others.
• Based on disease, the global syndromic multiplex diagnostic market is segmented into respiratory infections, gastroenteritis, sexually transmitted infections, sepsis meningitis and others. The respiratory infections segment is expected to dominate the global syndromic multiplex diagnostic market with a 47.23% share because of growing adoption of syndromic multiplex diagnostic tests for diagnosis of respiratory infections.
• Based on panels type, the global syndromic multiplex diagnostic market is segmented into respiratory panel, Gi-enteric panel, sexually transmitted disease panel, blood-sepsis panel, meningitis panel and others. The respiratory panel segment is expected to dominate the global syndromic multiplex diagnostic market with a 47.27% share because all respiratory infections disease diagnoses are performed on respiratory panel to detect and treat.
• Based on end user, the global syndromic multiplex diagnostic market is segmented into clinical laboratories, hospitals, pharmaceutical & biotechnology companies, institutes and others.

The hospitals segment of end-users segment is anticipated to end user the syndromic multiplex diagnostic market

The hospitals segment is expected to dominate the global syndromic multiplex diagnostic market with a 52.30% share because hospitals perform numerous infectious disease diagnostic tests to treat and detect serious diseases. Furthermore, hospitals are the most trustable option and one of the first contact points for patients.

The report provides insights on the following pointers:

• Market Penetration: Comprehensive information on the product portfolios of the top players in the this research report
• Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
• Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
• Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies

Top Key Topics Covered:

1. Strategic Imperatives

• Factors Creating Pressure on Growth
• The Strategic Imperative
• Growth Opportunities Fuel the Growth Pipeline Engine
• Research Methodology

2. Scope and Segmentation

• Research Context and Scope of Analysis
• Segmentation
• Other Techniques for This Research Report Management

3. Growth Opportunity Analysis

• Growth Drivers
• Growth Restraints

4. Introduction

• The Impact of the COVID-19 Pandemic and Post
• Future Growth

5. Innovation Ecosystem

Continued…

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