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Multiplex Assay Market to Reach $7.7 Billion, Globally, by 2032 at 7.8% CAGR: Allied Market Research

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Allied Market Research published a report, titled, “Multiplex assay Market By Type (Protein Based Multiplex Assays, Nucleic Acid-Based Multiplex Assays, Cell-Based Multiplex Assays), By Product (Reagents And Consumables, Instruments And Accessories, Software And Services), By Application (Clinical Diagnostics, Research And Development, Companion Diagnostics), By End User (Hospitals, Clinical Laboratories, Research Institutes, Pharmaceutical And Biotechnology Companies): Global Opportunity Analysis and Industry Forecast, 2023–2032″ According to the report, the global multiplex assay industry generated $3.6 billion in 2022 and is anticipated to generate $7.7 billion by 2032, witnessing a CAGR of 7.8% from 2023 to 2032.

Request Sample of the Report on Multiplex Assay Market Forecast 2032- https://www.alliedmarketresearch.com/request-sample/1921

Prime determinants of growth

Rise in prevalence of chronic and infectious diseases, technological advancement in multiplex assay products, rise in adoption of personalized medicines drive the growth of the global multiplex assay market. However, the lack of skilled labor/healthcare professionals have hamepered the multiplex assay market growth. On the contrary, the high growth potential in developing countries and the increase in R&D activities are expected to offer remunerative opportunities for the expansion of the multiplex assay market during the forecast period.

Report coverage & details:

Report Coverage

Details

Forecast Period

2023–2032

Base Year

2022

Market Size in 2022

$3.6 billion

Market Size in 2032

$7.7 billion

CAGR

7.8 %

No. of Pages in Report

430

Segments Covered

Type, Product, Application, End User and Region

Drivers

Rise in prevalence of chronic disease

Rise in adoption of personalized medicines

Technological advancements in multiplexed products

Opportunity

Rise in R&D activities

Restraint

Lack of skilled labor/healthcare professionals

Economic Downturn Analysis: Impact of Recession in 2023 on the Multiplex Assay Market

  • Startups and smaller businesses in the multiplex assay sector, which often rely on loans or investments to fund their operations and expansion, may face challenges in obtaining affordable financing. This can hinder their ability to invest in R&D, product innovation, and market expansion.
  • Recession hinders the ability of the market to introduce more efficient, accurate, and user-friendly multiplexed assay instruments & kits, which hinders market growth.

Want to Explore More, Connect to our Analyst- https://www.alliedmarketresearch.com/connect-to-analyst/1921

The protein-based multiplex assay segment to maintain its leadership status throughout the forecast period

On the basis of type, protein-based multiplex assay segment held the highest market share in 2022, accounting for three-fourths of the global multiplex assay market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to the high adoption of protein-based multiplex assay, and continuous investments in R&D for introduction of innovative technologies. The nucleic acid-based multiplex assay segment is projected to manifest the highest CAGR of 10.1% from 2023 to 2032, owing to an increase in usage of nucleic acid-based multiplex assay and increase in research regarding nucleic acid-based multiplex assay.

The reagents & consumables segment to maintain its leadership status throughout the forecast period

On the basis of product, the reagents & consumables segment held the highest market share in 2022, accounting for more than two-thirds of the global multiplex assay market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to high adoption of reagents & consumables, and recurring purchase of assays and reagents for increasing research applications. The instruments & accessories segment is projected to manifest the highest CAGR of 8.9% from 2023 to 2032 due to a rise in adoption of instruments & accessories and increase in R&D labs that further uses instruments & accessories.

The research and development segment to maintain its leadership status throughout the forecast period

Based on application, the research and development segment held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global multiplex assay market revenue, owing to wide applications of multiplex assay technologies in R&D and convenience and quicker results offered by multiplex assays while performing assays. The clinical diagnostics segment is expected to witness the fastest CAGR of 8.7% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to a rise in prevalence of chronic infectious disease and increase in awareness regarding diagnosis of diseases.

The pharmaceutical & biotechnology companies segment to maintain its leadership status throughout the forecast period

On the basis of end user, the pharmaceutical & biotechnology companies segment held the highest market share in terms of revenue in 2022, accounting for more than half of the global multiplex assay market revenue, owing to high use of multiplex assays for research and development in pharmaceutical & biotechnology companies. The same segment is expected to witness the fastest CAGR of 8.8% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to rise in penetration of multiplex assays in pharmaceutical & biotechnology companies, as compared to conventional assays, for biomolecular detection, biomarker validation, and measuring pathways for diseases & physiological activities.

For Procurement Information- https://www.alliedmarketresearch.com/purchase-enquiry/1921

North America to maintain its dominance by 2032

On the basis of region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global multiplex assay market revenue, owing to robust healthcare infrastructure, presence of key players, and rise in healthcare expenditure. However, the Asia-Pacific region is expected to witness the fastest CAGR of 9.5% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to a rise in prevalence of chronic infectious cases, unmet medical demands, and rise in R&D activities.

Leading Market Players: –

  • Abcam plc
  • Becton, Dickinson and Company
  • Bio-Rad Laboratories, Inc.
  • DiaSorin S.p.A. (Luminex Corporation)
  • Illumina Inc.
  • Meso Scale Diagnostics LLC
  • QIAGEN N.V.
  • Randox Laboratories Ltd.
  • Seegene Inc.
  • Thermo Fisher Scientific Inc.

The report provides a detailed analysis of these key players in the global multiplex assay market. These players have adopted different strategies such as acquisition, agreement, expansion, partnership, product launch, and product approval to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Comprehensive Healthcare Industry Research Studies:
Internet of Things in Healthcare Market- Global Opportunity Analysis and Industry Forecast, 2022–2032
Medical Tourism Market- Global Opportunity Analysis and Industry Forecast, 2022–2032
3D Cell Culture Market- Global Opportunity Analysis and Industry Forecast, 20221–2032
Neurovascular Devices Market- Global Opportunity Analysis and Industry Forecast, 2022–2032
Viral Vector and Plasmid DNA Manufacturing Market- Global Opportunity Analysis and Industry Forecast, 2022–2032

Artificial Intelligence

Two thirds of PR Pros can’t prove their work helps their business or client: CoverageBook

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Just 1 in 3 PRs track the commercial impact of their work – while 66% are focused on driving high volumes of coverage31% of PRs have seen budgets cut in the last year, but a staggering 50% of those respondents believe this would have been less likely if they could better prove commercial relevanceNew free tool ‘CoverageImpact’ helps PRs prove the value of their work and bridge this disconnectLONDON, Feb. 22, 2024 /PRNewswire/ — PR may talk the talk when it comes to boardroom relevance, but it’s failing to walk the walk. New research from CoverageBook, the leading PR industry reporting platform, shows that just one third of PR pros align their activity with commercial goals. The survey of over 350 senior PR and marketing professionals reveals a significant disconnect between how the PR industry measures and reports on activity and what senior leaders and budget holders expect to see. 

This research comes at a time when clients are putting increased scrutiny on PR teams to demonstrate impact. While the industry is finally putting outdated metrics like AVE (used by just 7% of respondents) to bed – there’s no consensus on how to prove the value of PR and communications.
To help build that consensus and allow every PR to prove the value of their work, CoverageBook is launching CoverageImpact, a revolutionary free tool designed to simplify PR reporting and impact measurement. The tool aims to bridge the gap between PR professionals’ activities and their clients’ commercial goals, ensuring that there’s no disconnect between agency and client or within a business.
This is particularly important as less than half of PR professionals currently consider new biz and sales when measuring the impact of their work – just 41% of UK respondents and 34% of US respondents take the new business/sales pipeline into account. These numbers drop significantly when asked about investment generation – 14% of UK respondents and 13% of US respondents. 
So what are they measuring? Well unsurprisingly, the focus is on outputs and audience, with 96% citing target audience as a key measurement criteria and 66% high volumes of coverage. 
Lack of commercial proof has a financial impact
The result of all this lack of commercial certainty? Unfortunately, it’s budget cuts. When asked about their 2023 budgets, 31% of all respondents said they had seen cuts (33% agencies, and 22% in-house).
Unsurprisingly, 50% of those respondents believe this would have been less likely if they could better prove commercial relevance. Breaking that figure down clearly shows the correlation between impact proof and budget decisions, with 75% of agency respondents and 25% of in-house respondents in the UK agreeing with that statement, alongside 79% of agency respondents and 21% of in-house respondents in the USA. 
Commenting on the findings, Alastair McCapra, CIPR CEO said: “These findings show how PR practitioners are putting more time into measurement and evaluation, but the lack of a common approach is costing us credibility. With one in three PR budgets being cut and a sluggish economy, we need to be more effective than ever in telling our story, and communicating the impact and value of our work.” 
When asked about the biggest challenges they face in measurement, 54% of all respondents cited a lack of a universal measurement framework, while 52% mentioned a lack of measurement tools. These findings underscore the urgent need for tools that simplify measurement and reporting, making it easier for PR professionals to demonstrate the value of their work.
Introducing CoverageImpact
CoverageImpact, developed by the creators of CoverageBook and Answer The Public, offers a simple solution for turning coverage tracker spreadsheets into visually appealing ‘coverage over time’ graphics. With CoverageImpact, users can easily add impact data to their reports without the need for complex pivot tables or data visualisation skills. The tool is compatible with popular PR tools such as Excel, Google Sheets, Cision, MuckRack, TalkWalker, Meltwater, and CoverageBook, making it accessible to PR professionals worldwide.
“The truth is everybody needs to level up on telling the story of their impact; how their work correlates to organisational impact – the stuff leadership and boards actually care about. We know this is happening in small pockets, there are some case studies of PR measurement already,” said Gary Preston, CEO & Co Founder at CoverageBook. “But only a few can afford dedicated teams with Python, Excel & Data viz skills to do the job. Our aim is to democratise PR measurement for everyone to start having credible impact stories.”
In addition to simplifying reporting, the tool is designed to help PR practitioners start credible conversations with senior business leaders and budget holders, create graphs that support strategic decision-making, and save time in generating reports.
To try out CoverageImpact, visit – https://coverageimpact.com/ 

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Artificial Intelligence

Travel and Expense Management Software Market Size to Grow USD 15.7 Billion by 2032 at a CAGR of 18.3% | Valuates Reports

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BANGALORE, India, Feb. 22, 2024 /PRNewswire/ — Travel and Expense Management Software Market Size, Share, Competitive Landscape and Trend Analysis Report by Deployment Type (On-premise, Cloud), by Organization Size (Large Enterprises, Small and Medium-sized Enterprises), by Industry Vertical (IT and Telecom, BFSI, Manufacturing, Public Sector, Healthcare, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.

The global travel and expense management software market was valued at USD 3 Billion in 2022, and is projected to reach USD 15.7 Billion by 2032, growing at a CAGR of 18.3% from 2023 to 2032.
Claim Your Free Sample Now: https://reports.valuates.com/request/sample/ALLI-Manu-0L95/Travel_and_Expense_Management_Software_Market 
Major Factors Driving the Growth of Travel and Expense Management Software Market
The market for travel and expenditure management software is expanding due in large part to companies’ growing use of digital solutions to automate and streamline their travel and expense management procedures, which boost productivity and cut expenses. Further propelling the market development are the growing requirement for real-time visibility and control over spending, the necessity of regulatory compliance, and the increasing globalization of companies. Additionally, the incorporation of cutting-edge technologies like artificial intelligence (AI), machine learning, and data analytics into these software programmes is propelling market expansion by providing improved user experiences, predictive capabilities, and insights.
Unlock Insights: View Full Report Now! https://reports.valuates.com/market-reports/ALLI-Manu-0L95/travel-and-expense-management-software 
TRENDS INFLUENCING THE GROWTH OF THE GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET:
The global increase in corporate travel activities is a major factor driving the growth of the travel and expense management software market. Businesses are sending more staff on business trips, conferences, and customer meetings as a result of globalization and growing corporate operations. Organizations are adopting travel and expenditure management software solutions to simplify procedures, track spending in real-time, and guarantee compliance with corporate regulations as a result of the spike in corporate travel, which makes effective administration of travel expenses necessary.
Businesses in a variety of sectors are looking for solutions to streamline and automate their spending and travel management procedures in order to increase productivity and cut expenses. Travel & Expense Management Software reduces mistakes and eliminates human data entry duties with features including automatic receipt scanning, automated expense report production, and connectivity with accounting systems.
Accurate tracking and reporting of travel costs is mandated by strict business rules and regulatory regulations. Through the use of travel and expense management software, businesses may make sure that workers follow company policy on spending limits, prompt approval of charges, and tax compliance. The capacity of these software solutions to uphold compliance requirements and enforce policy adherence is what propels their acceptance by companies of all sizes.
Having real-time insight into spending trends and travel expenditures is essential for efficient money management and budgetary selection. Travel and Expense Management Software gives businesses centralized platforms to manage expenditure, keep an eye on bills, and instantly analyze spending patterns. The demand is driven by this real-time insight, which enables firms to find cost-saving possibilities, make educated decisions, and reduce financial risks.
Travel and expense management software is starting to need integration capabilities with current business systems, such as ERP (business Resource Planning) and HR (Human Resources) systems. Processes are streamlined, data accuracy is improved, and data synchronization across various business operations is made possible through seamless integration. Adoption of software solutions with strong integration capabilities is fueled by organizations’ preference for integrated solutions that can combine travel and cost data with other financial and operational data.
The importance of data analytics and reporting tools in travel and expense management software is growing. Companies need to know about vendor performance, policy compliance, and travel expenditure trends in order to drive strategic decision-making and maximize costs. Organizations are able to get meaningful insights from travel and spending data by utilizing advanced analytics tools that are integrated into these software packages. These tools include predictive analytics, data visualization capabilities, and customisable reporting dashboards.
The increasing popularity of cloud-based travel and expense management software can be attributed to advantages including cost-effectiveness, scalability, and flexibility. By doing away with the requirement for on-premises infrastructure, cloud-based solutions enable businesses to access software from any place or device that has an internet connection. Small and medium-sized businesses (SMEs) find cloud-based solutions especially appealing due to their scalability and accessibility.
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TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SHARE ANALYSIS
In 2022, the market was led by the cloud segment based on deployment mode. This may be ascribed to the rise in developments in cloud-based infrastructure, as cloud technology offers a number of advantages including easy access to diverse apps from far-off locations, virtual reservations, and other creative solutions.
In 2022, the travel and expenditure management software market was dominated by North America. This is explained by the region’s rapid adoption of cloud-based technology. On the other hand, the Asia-Pacific area is growing faster. This is explained by the rise in small-, medium-, and large-scale technological companies in the area.
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Key Players:
AvidXchange IncorporatedORACLE CORPORATIONKDSInterplx IncApptricity Corp.ExpensifyTripActionsSAP ConcurCoupa Software Inc8commonPurchase Chapters:
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
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–  e-passport market was valued at USD 28.8 Billion in 2022, and is projected to reach USD 256.2 Billion by 2032, growing at a CAGR of 24.8% from 2023 to 2032.
–  Honeymoon Travel market size is expected to reach USD 1413 Million by 2029, growing at a CAGR of 5.5% from 2023 to 2029.
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To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.
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Artificial Intelligence

Automating Efficiency: Saudi Arabia Warehouse Automation Market Gears Up for 14.2% CAGR, Driven by E-commerce Boom and Vision 2030: Ken Research

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GURUGRAM, India, Feb. 22, 2024 /PRNewswire/ — The Kingdom of Saudi Arabia’s warehouse automation market is on a trajectory for exponential growth, fueled by a surging e-commerce sector and ambitious national goals outlined in Vision 2030. Ken Research’s comprehensive report, Saudi Arabia Warehouse Automation Market Outlook to 2028: Automating the Path to Progress, sheds light on this dynamic market, poised for a remarkable 14.2% CAGR in the coming years. This press release summarizes the key findings and offers valuable insights for investors, logistics companies, and technology providers seeking to capitalize on this flourishing landscape. 

Market Overview: 
Several key factors are propelling the Saudi Arabian warehouse automation market towards a bright future: 
E-commerce Boom: The exponential growth of e-commerce is driving demand for efficient and high-throughput warehouse operations, necessitating automation solutions. Vision 2030: The government’s ambitious Vision 2030 plan emphasizes logistics sector development, creating a conducive environment for automation adoption. Rising Labor Costs: Increasing labor costs are prompting companies to seek automation solutions for cost-efficiency and productivity gains. Increased Demand for Storage: Growing population and economic diversification are leading to higher storage requirements, making automation crucial for efficient space utilization. Interested to Know More about this Report, Request a Free Sample Report
Segmentation Spotlight: 
Ken Research provides a detailed segmentation of the market, allowing you to pinpoint your target audience effectively: 
By Technology: Automated Storage and Retrieval Systems (ASRS) dominate the market, followed by Automated Guided Vehicles (AGVs) and robots. By Application: E-commerce and retail sectors are the primary adopters, followed by manufacturing, healthcare, and automotive industries. By Solution Provider: Global players like Honeywell, Siemens, and Vanderlande compete alongside regional players like Fawaz Refrigeration and Nesma & Partners Contracting Company. Competitive Landscape: 
The market features a mix of established players and emerging entrants: 
Global players: Honeywell, Siemens, Vanderlande, Swisslog, and Knapp. Regional players: Fawaz Refrigeration, Nesma & Partners Contracting Company, Abdullah Hashim Abunayyan Trading Company, and Al-Obeikan Group. Start-ups: Innovative start-ups are offering customized and cost-effective automation solutions. Recent Developments: 
Investment in automation: Major logistics companies and government entities are investing heavily in warehouse automation solutions. Focus on cloud-based solutions: Cloud-based warehouse management systems (WMS) are gaining traction for improved scalability and flexibility. Adoption of collaborative robots (cobots): Cobots are increasingly used for tasks requiring human-robot collaboration. Visit this Link :- Request for custom report
Future Outlook: 
The Saudi Arabian warehouse automation market is expected to witness exciting developments in the coming years: 
Growing demand for advanced technologies: Technologies like artificial intelligence (AI) and machine learning (ML) will be integrated for optimized operations. Rise of integrated solutions: Integrated automation solutions encompassing hardware, software, and services will gain popularity. Focus on sustainability: Environmentally friendly automation solutions will be increasingly sought after. Challenges to Address: 
Despite its promising future, the market faces some hurdles: 
High initial investment costs: The upfront costs of automation implementation can be a barrier for some companies. Lack of skilled workforce: Training and upskilling the workforce to operate and maintain automated systems is crucial. Data security concerns: Addressing data security concerns associated with connected automation systems is essential. Why This Report Matters: 
This report empowers various stakeholders to navigate the Saudi Arabian warehouse automation market: 
Investors: Identify lucrative investment opportunities across different technologies and segments. Logistics companies: Gain insights into emerging trends, optimize their operations, and improve efficiency. Technology providers: Tailor their offerings to meet specific market needs and expand their reach. Government entities: Formulate policies that support market growth and achieve Vision 2030 goals. Request free 30 minutes analyst call
Taxonomy
By Product Category
Semi-AutomatedFully AutomatedBy Product Component
Conveyor System/ Sortation SystemAutomated Storage & Retrieval SystemWarehouse Management SystemAMR/AGVOthers (Pick-to-Light and Put-to-Light Systems and automated packaging: wedging, volume reduction, personalization and more)Automatic Identification and Data Capture (AIDC)By Automated Technology
HardwareSoftwareBy End-User
E-CommerceRetail (Supermarkets, Hypermarket, Consumer Durables & More)3PL/LogisticsOthers (Health & Beauty, Pharma, Furnishing)For More Insights On Market Intelligence, Refer To The Link Below: –
Saudi Arabia Warehouse Automation Market
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MDO PET Films Market in UAE Outlook to 2027 Driven by increasing population, food and beverage demand and pharmaceutical consumption
Rise in cross-border shopping, with 58% of online purchases made from overseas vendors due to reliable shipping methods, and favorable pricing are the key drivers of e-commerce in the country. The growth of e-commerce in the UAE will boost the demand for packaging materials, especially tapes which are manufactured via MDO PET Films.
UAE Movers Market Outlook to 2028 Driven by Real Estate and Infrastructure Development and Growing Expatriate Population in the Country
Future market size for UAE Movers set for substantial growth from 2022 to 2028. Launch of over 10,000 new townhouses and villas in May 2022, with handover expected by 2025, indicating a surge in property developments and increased demand for moving services. Ongoing urban development projects, including new residential communities and commercial centers, anticipated to boost the demand for professional movers.
South Korea Warehouse Automation Market Outlook to 2027 Driven By increasing demand from end-user industries and factors such as increasing labor cost and labor shortage in the country
According to Ken Research estimates, the Market Size of South Korea Warehousing has shown increasing trend from 2019 to 2022. South Korea’s strategic location as a gateway between Europe, Asia, and Africa makes it an attractive hub for trade. The country has been actively promoting foreign trade and industrialization, attracting international companies to set up manufacturing facilities and distribution centers. This leads to an increased demand for warehousing services to support import, export, and local supply chains.
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