Syndromic Multiplex Diagnostic Market Size (2024 - 2029)

Syndromic Multiplex Diagnostic Market Analysis

The Syndromic Multiplex Diagnostic Market size is estimated at USD 2.68 billion in 2024, and is expected to reach USD 3.89 billion by 2029, growing at a CAGR of 7.66% during the forecast period (2024-2029).

Due to the high number of COVID-19 cases in the early stages of the pandemic, hospitals worldwide canceled medical visits, and the target population remained indoors fearing infection. Research and development efforts increased for advanced Molecular Diagnostic solutions for the detection of SARS-CoV-2, thereby contributing to the growth of the Molecular Diagnostic Market. Major players focused on innovations and increased investments in developing devices or panels for multiplexed detection of the virus, thus enhancing the Multiplexed Diagnostics Market. For instance, in May 2022, Cipla commercially launched the RT-Direct multiplex COVID-19 RT-PCR test kit in India through a partnership with Genese2Me Pvt Ltd, contributing to the growth of the Multiplex PCR Kit Market. Therefore, the pandemic is expected to contribute to the growth of the Diagnostic Market. However, the emergence of various mutant strains of COVID-19 is expected to contribute to the demand for advanced Point of Care Molecular Diagnostics, thereby resulting in the growth of the market during the post-pandemic period.

The market is driven by factors such as the growing burden of diseases in recent years. This created a higher demand for accurate and Rapid Diagnostic Testing, thereby contributing to the growth of the market over the forecast period. For instance, as stated by data from the World Health Organization 2021, chronic respiratory diseases affect more than one billion people globally. Additionally, as per data from Lung India as of August 2022, the prevalence of asthma among Indian children was around 18.2%. The same source suggests that there is a high prevalence of severe asthma in the emerging markets of the Middle East and Africa as well as Latin America, compared to the mid-range prevalence in North America and Europe. Given this high prevalence of respiratory diseases, there is a growing demand for efficient Respiratory Pathogen Testing solutions. To detect such rare diseases, several Molecular Testing Panels have been developed. For instance, an Elsevier article published in April 2021 stated that researchers developed a Multiplex PCR based diagnostic method, which showed rapid and accurate detection of Alzheimer's disease biomarkers. Such developments and research are increasing the demand for syndromic multiplex diagnostics, thereby driving the growth of the Multiplexed Diagnostics Market.

In addition, the Australian Federation of AIDS Organizations (AFAO) estimated that around 29,090 people are living with human immunodeficiency virus infection (HIV), and 2,610 people were unaware they were positive in 2020. Western blotting is the gold-standard test for the detection of HIV. However, the demand for Syndromic Testing is increasing with the rise in cases of various diseases. Thus, the growing burden of such diseases demands more accurate and rapid Infectious Disease Testing methods, and it is expected to propel the studied market growth over the forecast period.

Furthermore, the rising product launches are expected to contribute to the growth of the market over the forecast period. For instance, in October 2021, Hologic launched Novodiag System in Europe. Novodiag is a fully automated Molecular Diagnostic solution for on-demand testing of infectious diseases and antimicrobial resistance. Additionally, in June 2021, Eurofins launched a Multiplex PCR assay for rapid detection of the B.1.617 SARS-CoV-2 variant. Such developments are anticipated to fuel the growth of the Multiplexed Diagnostics Market.

Therefore, owing to the above-mentioned factors, the Diagnostic Market is expected to grow over the forecast period. However, the lack of skilled professionals and the inability in detecting asymptomatic cases are factors that are anticipated to hinder market growth.

Syndromic Multiplex Diagnostic Industry Segmentation

As per the scope of this report, a syndromic multiplex diagnostic test employs testing of various pathogens in a single test reaction and helps healthcare providers to deliver efficient medications in proper time by minimizing uncertainty and mistakes that occur while testing for infection. The syndromic multiplex diagnostic test gives more accurate, realistic, and comprehensive results in critical care. The Syndromic Multiplex Diagnostic Market is segmented by Type of Syndrome (Respiratory, Gastrointestinal, Central Nervous System and Other Types of Syndromes (cUTI and STDs)), By End-User (Hospitals, Diagnostics Laboratories, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.