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Syndromic Multiplex Diagnostic Market

Market Insights on Syndromic Multiplex Diagnostic covering sales outlook, demand forecast & up-to-date key trends

Syndromic Multiplex Diagnostic Market By Syndromes(Gastrointestinal, Bloodstream, Respiratory, Central Nervous System, Pneumonia), End-user (Hospitals, Diagnostics Laboratories, Research Institutes) & Region - Forecast 2022-2032

Syndromic Multiplex Diagnostic Market Overview

The syndromic multiplex diagnostic market is likely to attain a CAGR of 6.3% during the forecast period 2022-2032.

A fast syndromic multiplex diagnostic test helps healthcare providers deliver efficient medications in the proper time. The demand for syndromic multiplex diagnostics goes up as the same unravel the conundrum of identifying the actual causing agent.

Sales of syndromic multiplex diagnostics are expected to surge as they greatly minimize the uncertainty and help to overcome the inefficiencies and mistakes that mostly occur during the testing of an infection.

Attributes

Details

Syndromic Multiplex Diagnostic Market CAGR

6.3%

Syndromic Multiplex Diagnostic Market (2022)

US$ 60 Bn

Syndromic Multiplex Diagnostic Market (2032)

US$ 110 Bn

In addition, the demand for syndromic multiplex diagnostics is also fuelled by the advantages offered by syndromic multiplex diagnostic tests, such as accuracy and comprehensive result in critical care.

Current technologies offer potential diagnosis in about one-hour, facilitating the medical professional to make timely decisions, the proper time for hospital admission, antimicrobial stewardship, thereby boosting the sales of syndromic multiplex diagnostics.

Thus, the syndromic multiplex diagnostic market is expected to grow and the demand for syndromic multiplex diagnostics spike owing to its ability to address the rising needs of patients and clinicians, such as the utilization of fewer resources etc.

The sales of syndromic multiplex diagnostics are soaring as a result of ongoing innovation, and most syndromic multiplex diagnostic companies work with a sense of urgency and consumer focus in the post-pandemic era.

Efforts to reduce costs across the value chain in order to market products at competitive prices and maximize the syndromic multiplex diagnostic market share are anticipated to augur well for the demand for syndromic multiplex diagnostics.

Furthermore, the syndromic multiplex diagnostic market share is also expected to surge due to modernization and manufacturing expansion. In contrast, the sales of syndromic multiplex diagnostics are likely determined by continued innovation and customer-focused strategies.

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What are the Syndromic Multiplex Diagnostic Market Dynamics?

Demand for syndromic multiplex diagnostics is expected to augment since it offers great benefit to clinical practice by increasing the diagnostic yield and less use of the resource.

Greater accuracy of diagnostics, minimizing the use of antibiotics, and moreover reducing the overall stay of patients in hospitals are also contributing to the rising sales of syndromic multiplex diagnostics.

In addition to this, as it provides quick access to treatment and reduces the side effects of antibiotics, the demand for syndromic multiplex diagnostics is anticipated to be fuelled to a considerable extent.

The enhanced demand for advanced diagnostic technologies that provide accurate and reliable results without wasting time by both patients and healthcare providers is driving up demand for syndromic multiplex diagnostics

Despite extensive diagnostics tests, often few of the causative agents are not known or well defined, and all these drawbacks are overcome by the introduction of syndromic multiplex diagnostics.

As they can eliminate or minimize wrong interpretation of the data and at the same time provide accurate clinical results, the sales of syndromic multiplex diagnostics spike significantly.

With the advancement of research and development, more syndrome panels are predicted to drive the demand for syndromic multiplex diagnostics in the coming years.

However, there are certain factors limiting the sales of syndromic multiplex diagnostics, such as the high cost associated with a syndromic multiplex diagnostic test 

A lack of skilled professionals may as well impact the demand for syndromic multiplex diagnostics.

The inability to detect asymptomatic cases is projected to impede the sales of syndromic multiplex diagnostics

The demand for syndromic multiplex diagnostics plunges due to the unwillingness of healthcare providers, particularly in developing countries, to abandon traditional diagnostic techniques and measures.

Sabyasachi Ghosh
Principal Consultant
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What is the Region-wise Outlook of the Syndromic Multiplex Diagnostic?

On the basis of geography, the global syndromic multiplex diagnostic market is segmented into seven key regions: North America, Latin America, Western Europe, Eastern Europe, and the Asia Pacific excluding Japan and Middle East & Africa. 

North America is projected to hold the significant syndromic multiplex diagnostic market share on account of advancements in technologies and improved healthcare.

Large scale presence of research laboratories also positively influences the sales of syndromic multiplex diagnostics in the region.

Europe also witnesses a huge spike in sales of syndromic multiplex diagnostics owing to the increasing adoption of new technologies and demand for better treatment options. 

The Asia Pacific holds a considerable syndromic multiplex diagnostic market share attributed to increasing infections and rising government initiatives in spreading awareness among people about various infections. 

The Middle East and Africa have less impact on the growth of the syndromic multiplex diagnostic market and low demand for syndromic multiplex diagnostics owing to less advancement in clinical practice and poor healthcare infrastructure.

Who are Some of the Key Players in the Syndromic Multiplex Diagnostic Market?

Some of the key players present across the value chain of the global syndromic multiplex diagnostic market are Luminex Corporation, BioFire Diagnostics, Qiagen, GenMark Diagnostics, Binx Health, Inc, GenePOC Inc, Janssen Global Services, LLC.

Mesa Biotech, Applied BioCode, Inc, Akonni Biosystems, Inc., Abbott, Accelerate Diagnostics, Inc, Alveo Technologies, Hologic, Inc., Inflammatix, Inc., Bosch Healthcare Solutions GmbH, Diagenode Diagnostics, Cepheid, Bio-Rad Laboratories, Inc. are a few other players in the syndromic multiplex diagnostic market.

In terms of syndromic multiplex diagnostic market share, the market is currently dominated by a few major players. Some major players are launching new products, while others are distributing them, making acquisitions, etc.

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Scope of Report

Report Attribute

Details

Growth rate

CAGR of 6.3% from 2022 to 2032

Base year for estimation

2021

Historical data 

2014 - 2020

Forecast period

2022 - 2032

Quantitative units

Revenue in USD billion, volume in kilotons, and CAGR from 2022 to 2032

Report coverage

Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis

Regional scope

North America; Western Europe, Eastern Europe, Middle East, Africa, ASEAN, South Asia, Rest of Asia, Australia and New Zealand

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; Russia; Belgium; Poland; Czech Republic; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; Iran; South Africa

Key companies profiled 

Luminex Corporation, BioFire Diagnostics, Qiagen, GenMark Diagnostics, Binx Health, Inc, GenePOC Inc, Janssen Global Services, LLC., Mesa Biotech, Applied BioCode, Inc, Akonni Biosystems, Inc., Abbott, Accelerate Diagnostics, Inc, Alveo Technologies, Hologic, Inc., Inflammatix, Inc., Bosch Healthcare Solutions GmbH.

Customization scope 

Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs.

Frequently Asked Questions

The syndromic multiplex diagnostic market is poised to attain a CAGR of 6.3% during the forecast period.

Some major players are launching new products, while others are distributing them, making acquisitions, etc to consolidate their market position.

North America is at the forefront of the syndromic multiplex diagnostic market owing to advancement in technologies and improved healthcare.

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Sabyasachi Ghosh
Principal Consultant
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Syndromic Multiplex Diagnostic Market