According to Stratistics MRC, the Global Companion Diagnostics Market is accounted for $2.62 billion in 2015 and is estimated to reach $9.27 billion by 2022 growing at a CAGR of 19.78% during the forecast period. At present, increasing demand for personalized medicine is mostly contributing to the global companion diagnostics market growth. On the other hand, cost allied with developing drugs could hamper the market. Developing companion diagnostics for several central nervous system conditions and hereditary conditions provide ample of opportunities for players in the market.
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In terms of revenue, Breast cancer commanded the global companion diagnostics market. However, lung cancer is expected to lead the market in future growing at a significant CAGR owing to the discovery of biomarkers that are precise to lung cancer, and the discovery of myriad pertinent companion diagnostics. Molecular diagnostics is highest revenue generating segment and also expected to grow at a faster rate, mainly owing to the use of techniques such as real time PCR, In Situ Hybridization and next generation sequencing.
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North America represented the largest market for companion diagnostics, followed by the Europe. The Asia Pacific and Rest of the World regions are anticipated to witness substantial demand for companion diagnostics in the future. In these regions, enhancing healthcare infrastructure, rising disposable incomes, and unexploited potential for companion diagnostics are cited as the major reasons for the market growth.
Some of the key players in the market include are Roche Diagnostics, Quest Diagnostics Inc.Qiagen N.V., Labcorp, Genomic Health Inc., Dako (Agilent Technologies), Celera, Biomerieux Sa, Abbott Laboratories, Thermo Fisher Scientific, Inc., Danaher Corporation, GE Healthcare, Biogenex Laboratories, Siemens and AstraZeneca.
In Situ Hybridization (ISH)
Polymerase Chain Reaction (PCR)
Next generation sequencing
Rest of Europe
Rest of Asia Pacific
Rest of the World
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