Data Bridge Market Research Published Latest Europe Syndromic Multiplex Diagnostic Market Study by in-depth analysis about current scenario, the Market size, demand, growth pattern, trends, and forecast. This report on the study considers important factors such as an analysis of the market, a definition of the market, market segmentation, significant trends in the industry, an examination of the competitive landscape, and research methodology.

According to a World Health Organization (WHO) report updated in September 2021, more than 55 million people worldwide live with dementia, and nearly 10 million new cases are diagnosed each year, with Alzheimer's disease (AD) accounting for the majority of cases. Several multiplex panels have been developed to detect such rare diseases. For example, the April 2021 article "Advances in multiplex PCR for Alzheimer's disease diagnostics targeting CDK genes" stated that the study's researchers developed a multiplex-PCR (polymerase chain reaction) based diagnostic method that demonstrated the rapid and accurate detection of AD biomarkers. Such advancements and research increase the demand for syndromic multiplex diagnostics, propelling the market forward.

Data Bridge Market Research analyses that the syndromic multiplex diagnostic market which is USD 3879.99 million in 2022, is expected to reach USD 7562.53 million by 2030, at a CAGR of 8.7% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

Syndromic multiplex diagnostic testing is a type of advanced diagnostic test used to detect infectious diseases such as respiratory infection, infective gastroenteritis, sexually transmitted infections, sepsis, and meningitis, among others. The syndromic multiplex diagnostic also aids clinicians and hospitals in detecting the symptoms and signs of various diseases. This allows health care providers to provide the best treatment for their patients while also providing more precise outcomes and care that can be delivered more quickly.

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Drivers

  • The rising demand for the diagnostic procedure for infectious diseases

Most patients' first symptoms of an infectious disease are not specific to the source of infection: fever, diarrhoea, coughing, headache, and so on. Traditionally, identifying the responsible disease agents involved testing for the most likely cause of a disease, waiting for test results, and then repeating the process if the results were negative.

As a result, the syndromic approach, which uses a single test for all microorganisms suspected of causing infectious disease, offers a novel approach to the problem of infectious disease diagnosis. When a disease is diagnosed, time is saved and the patient can begin treatment sooner. The syndromic multiplex diagnostic test provides more accurate, realistic, and comprehensive results in critical care. For instance, the BIOFIRE FILMARRAY technology, uses a single test to detect bacteria, viruses, fungi, or parasites that can cause infectious disease, with results available in 45 to 65 minutes.

  • Rising demand for precise and timely results

Globally, there is an increasing demand for precise and timely results. For instance, Hologic, will launch the Novodiag System in Europe in October 2021. Novodiag is a fully automated molecular diagnostic solution for on-demand testing of infectious diseases and antimicrobial resistance. QuantuMDx will also launch its Q-POC, a rapid PCR point-of-care diagnostic system, in July 2021. QuantuMDx's Q-POC system and its first test, a SARS-CoV-2 detection assay, have also received CE-IVD marking under the In Vitro Diagnostics Directive, allowing them to be used in Europe. Such developments are expected to fuel market growth.

  • Rising diagnostic healthcare expenditure

Rising healthcare spending is expected to increase service availability and affordability, allowing patients to select better and more precise diagnostic services to manage their diseases. Increased healthcare spending makes diagnostic services more readily available. As a result, high health-care spending is a positive factor driving the syndromic multiplex diagnostic market's growth.

Recent Developments

  • In 2021, Cepheid (a Danaher subsidiary) received a CE mark for Xpert Xpress CoV-2/Flu/RSV plus, a rapid molecular test for detecting viruses causing COVID-19, Flu A, FluB, and respiratory syncytial virus infections. This has aided the company in expanding its presence.
  • In 2020, BD announced that they had received Emergency Use Authorization (EUA) approval from the US Food and Drug Administration (FDA) for their additional molecular diagnostic test for COVID-19. The new test was also CE marked for the IVD Directive (98/79/EC). Following this announcement, the company's market credibility has increased.

Some of the major players operating in the syndromic multiplex diagnostic market are:

  • Seegene Inc. (South Korea)
  • Luminex Corporation (U.S.)
  • F. Hoffmann-La Roche Ltd (Switzerland)
  • BD (U.S.)
  • Bio-Rad Laboratories, Inc. (U.S.)
  • Danaher (U.S.)
  • QIAGEN (Germany)
  • Abbott (U.S.)
  • Hologic, Inc. (U.S.)
  • Thermo Fisher Scientific Inc. (U.S.)
  • Siemens Healthcare GmbH (Germany)
  • Biocartis (Belgium)
  • QuantuMDx Group Ltd. (U.K.)
  • Bosch Healthcare Solutions GmbH (Germany)
  • Prominex Inc. (U.S.)
  • Curetis (Germany)

This marketing report endows with the company profile, product specifications, production value, manufacturer’s contact information and market shares for the company. This market analysis report will definitely help in growing sales with new thinking, new skills, and innovative programs and tools. All the data, statistics, and information gathered to generate this report has been studied and analysed with the established tools and techniques such as SWOT analysis and Porter's Five Forces analysis. The market study conducted in this market document takes into account heterogeneous markets in accord with the requirement of HEALTHCARE industry and scoop out the finest possible solutions and detailed information about the market trends.

Core Objective of the This Market:

  • This Market Size and growth rate factors.
  • Important changes in the future this Market.
  • Top worldwide competitors of the Market.
  • Scope and product outlook of This Market.
  • Developing regions with potential growth in the future.
  • Tough Challenges and risk faced in Market.
  • Global top manufacturers profile and sales statistics.

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