Asia-pacific Multiplex Assay Market Forecast 2021-2028
The Asia-Pacific multiplex assay market is predicted to record a CAGR of 9.70% over the projected years of 2021 to 2028. Factors like the growing number of hospitals across emerging economies, technological advancements in the field of healthcare, the augmenting research and development sector, the rising healthcare reforms, and the increasing demand for healthcare infrastructure are expected to fuel the regional market’s growth.
The Asia-Pacific multiplex assay market growth assessment includes the analysis of Vietnam, China, Thailand, Australia & New Zealand, India, South Korea, Indonesia, Japan, and the rest of the Asia-Pacific. As per the statistics issued by GLOBOCAN 2018, 1,157,294 new cancer cases were projected in India, with breast, lip, oral cavity, cervical, and lung cancer as the most prevalent types. In addition, the International Agency for Research on Cancer predicted that this number is expected to increase to 1.55 million by 2030. The increase in the number of overall cases of cancer in India is primarily attributed to major risk factors such as cigarette smoking and the consumption of tobacco.
According to the estimations of the International Agency for Research on Cancer 2018, approximately 277,000 new cases of cancer were recorded in South Korea. The number is anticipated to rise to nearly 368,500 over the upcoming decade. Moreover, the stable growth of multiple assays in the country is predominantly accredited to the mounting demand for quality healthcare as well as the rising need for point-of-care testing (POCT) and molecular testing. Hence, these factors are set to propel the market growth in the Asia-Pacific over the forecasted period.
Some of the leading companies operating in the market are Seegene Inc, F. Hoffmann-La Roche Ltd, Bio-Techne Corporation, etc.
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