Jul 29, 2021 (AmericaNewsHour) -- In a recent published report, Kenneth Research has updated the Multiplex Biomarker Imaging Market report for for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Multiplex Biomarker Imaging Market products.
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According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
The multiplex biomarker imaging market will grow because of its ability to detect the presence of, severity, and exact location of chronic diseases and tumors, along with other applications. According to Netscribes, the global multiplex biomarker imaging market is projected to expand at a compound annual growth rate (CAGR) of 12.0% during the 2018-2023 period, generating a revenue of USD 523.59 Mn by 2023.
The global multiplex biomarker imaging market can be segmented based on:
o Techniques – immunohistochemistry (IHC), fluorescence in situ hybridization (FISH), immunofluorescence (IF), tissue microarray (TMA), and toponome imaging system (TIS)
o Components – instruments, reagents and kits, and software
o Applications – oncology studies, drug safety, genetic characterization, and others (neurodegeneration and protein research)
o End users – research institutes, translational labs, and pharma and biopharma companies
Technique segment insights:
IHC held the largest market share (around 47%) in this segment in 2017. It is widely used in research laboratories and clinical diagnostics, owing to the advantages it offers, vis-a-vis traditional methods of enzyme staining, including specific antigen-antibody reactions. Higher incidence of chronic diseases, especially cancer, is fuelling the need for targeted treatments, thereby contributing to the growth of TMA. The market for TMA is projected to expand at a CAGR of 14.3% during the 2018-2023 period.
Component segment insights:
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The instruments section held the largest market share (67%) in 2017, followed by reagents and kits. However, software is predicted to record the fastest expansion (CAGR of 15.0%) during the forecast period (2018-2023), with more automated software packages being made available to researchers. These software modules assist in the research of various diseases and improve the workflow of quantitative analysis.
Application segment insights:
Multiplex biomarker imaging products are used mostly in oncology studies. This will be followed by drug safety applications, which is expected to expand at a CAGR of 14.1% during 2018-2023.
End user segment insights:
Currently, multiplex biomarker imaging products can only be used for research purposes. Pharma and biopharma companies dominated the market's end user segment in 2017 with a share of 39%. Meanwhile, translational laboratories are projected to grow at a significant rate during the forecast period.
The global multiplex biomarker imaging market can be segmented based on regions into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
North America dominated the global multiplex biomarker imaging market with a share of 50% in 2017, followed by Europe with a 28% share. Asia-Pacific is expected to expand at the highest CAGR (16.0%) during 2018-2023. Across North America and Europe, companies that have software and service agreements for several years are directly selling imaging products to biopharmaceutical companies, laboratories, and academic institutions.
o Thermo Fisher Scientific, Inc.
o Perkin Elmer, Inc.
o Abcam Plc.
o Bio-Rad Laboratories Inc.
o US Biomax, Inc.
o Merck KGaA
o Ventana Medical Systems, Inc.
o MicroConstants, Inc.
o Leica Biosystems Nussloch GmbH
o ToposNomos Ltd.
o Illumina, Inc.
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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