New York, NY -- (SBWire) -- 06/04/2019 --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.
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It sheds light on the major companies that contribute significantly to the global sector. The report studies the presence of these companies in major geographical regions and their individual placement in the worldwide business. It helps in projecting the growth of Multiplex Biomarker Imaging through the years and in predicting its expansion in the forecasted time span. The increase in the demand for the product is boosting the overall production to ensure a smooth functioning demand-supply chain.
In market segmentation by manufacturers, the report covers the following companies-
Thermo Fisher Scientific, Inc. , Perkin Elmer, Inc., Abcam Plc., Bio-Rad Laboratories Inc., US Biomax, Inc. , Merck KGaA , Ventana Medical Systems, Inc., MicroConstants, Inc., Leica Biosystems Nussloch GmbH, ToposNomos Ltd., Illumina, Inc.
The global multiplex biomarker imaging market can be segmented based on:
- Techniques - immunohistochemistry (IHC), fluorescence in situ hybridization (FISH), immunofluorescence (IF), tissue microarray (TMA), and toponome imaging system (TIS)
- Components - instruments, reagents and kits, and software
- Applications - oncology studies, drug safety, genetic characterization, and others (neurodegeneration and protein research)
- 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--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:
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.
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In market segmentation by geographical regions, the report has analysed the following regions-
- North America
- Europe
- China
- Japan
- Southeast Asia
- India
The report on the Multiplex Biomarker Imaging market employs both primary and secondary research to examine its import and export, demand and supply, consumption power, spending capacity and distribution channel worldwide. The report evaluates the market standing of key manufacturers and sheds light on the strategies they have adopted to stay competitive. The study also applies qualitative and quantitative methods to assess the annual and financial performance of the top vendors and insights from market leaders. Extensive coverage of the recent trends and developments including joint ventures, collaborations, investments, product launches and acquisitions and mergers constitute a substantial part of the research on the Multiplex Biomarker Imaging market for the forecast period from 2018 to 2023.
The research provides answers to the following key questions:
- What will be the growth rate of the Multiplex Biomarker Imaging market for the forecast period, 2018 to 2023? What will be the market size and the share occupied by the prominent vendors by the estimated period?
- What are challenges and threats faced by the prominent vendors operating in the Multiplex Biomarker Imaging market?
- Who are the prominent vendors and what has been their business strategy so far to maintain a competitive edge over their competitors?
- What are the past, present and emerging trends likely to influence the growth rate of the Multiplex Biomarker Imaging market for the forecast period, 2018 to 2023?
- What are the opportunities prominent vendors can bank on to generate more profits during the estimated period?
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Multiplex Biomarker Imaging Market to Reach USD 523.59 Mn by 2023 Growing at a CAGR of 12.0% During 2018–2023 by Top Players: Abcam Plc., Merck KGaA, Illumina, Inc.
The study methodologies used to examine the Multiplex Biomarker Imaging market for the forecast period, 2018 - 2023 further classifies the industry by type, geography, end-use and end-user to add more precision and bring to light factors responsible for augmenting business development.