According to the report Global Companion Diagnostics Market, published by Market Data Forecast, the global market is projected to reach USD 8.88 billion by 2021, at a CAGR of 21.6% from 2016 to 2021.
Companion diagnostics is categorized by rising requirement for improved personalized patient treatment that contributes healthcare providers and their patients an assurance about the treatment result in a positive way, differing from traditional treatment procedure.
Companion diagnostic are used to regulate patient personal molecular profile which supports in determining which therapy will work for the patient. This diagnostic procedure requires a biopsied tissue to contact the appearance of biomarker protein or mutant. Companion diagnostics are also used in drug development process by defining Companion biomarker that helps foresee likely response of toxicity. The Global Companion Diagnostics market is recognized to be as a growing need of tailored medications and modified cancer treatment, increasing adoption of companion diagnostic tests by end users such as biotechnology and pharmaceutical, firms and reference laboratories, and encouragement by regulatory bodies such as EMA and FDA to implement developments of companion diagnostic test at the initial phases of drug development techniques.
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Global Companion Diagnostics Market: Drivers & Restraints
Key factors boosting the market growth are increasing adoption of companion diagnostic tests, encouragement from regulatory bodies and emerging advanced technologies such as next-generation sequencing (NGS). To seizure this market, pharmaceutical companies are motivated to enter into the global market through strategic achievements and alliances with NGS platform diagnostic firms. Companion diagnostic market growth is hampered due to lack of skilled professionals and lack of awareness.
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Global Companion Diagnostics Market: Segmentation
- Colorectal Cancer
- Breast Cancer
- Lung Cancer
- Gastric Cancer
- Inflammation and Autoimmune Diseases
- Cardiovascular Diseases
- Central Nervous System Disorders
- Virology Diseases
- Immuno Histochemistry
- Molecular Diagnostics
- In-Situ Hybridization
- Real Time PCR
- Gene Sequencing
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Global Companion Diagnostics Market: Overview
Oncology being the highest revenue creating segment as most of the companion diagnostics has been developed to detect one or the other cancer biomarkers. Molecular diagnostics is segmented into in-situ hybridization, real time PCR and gene sequencing
Companion diagnostics is a relatively new branch of diagnostics that is expected to grow at a fast pace in coming days as well as increased its market demand globally. The applications of Companion diagnostic are to regulate patient personal molecular profile in supporting to determine which therapy will work for the patient. This diagnostic procedure needs a biopsied matter or a tissue to contact the appearance of biomarker protein or mutant. Companion diagnostics are also used in defining Companion biomarker, which helps foresee response of toxicity.
Global Companion Diagnostics Market: Region-wise Outlook
Based on geography the market is analysed under various regions namely, North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa. Due to technical advancement and huge investment on research & development, North America is leading the companion diagnostic market. While Europe and Asia-Pacific are expected to grow at significant growth rate.
Key Questions Answered
- What is the current and future Global Companion Diagnostics Market outlook in global? What trends are affecting the global market?
- What is the competitive landscape and market share of major players in the Global Companion Diagnostics space globally?
- What are the key, high growth markets that Global Companion Diagnostics manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Global Companion Diagnostics currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Companion Diagnostics Market ?
- What are the challenges and barriers that have hindered widespread adoption of Global Companion Diagnostics Market?
- What are the key sustainability strategies adopted by market players ?
Global Companion Diagnostics Market: Key Players
Some of the key participating global players in companion diagnostics market global market are Abbott Molecular Inc., Roche Molecular Systems Inc., Leica Biosystems Nussloch GmbH, bioMérieux Inc., Dako Inc., Qiagen Ltd., ARUP Laboratories, Myriad Genetics Inc.,Biogenex Laboratories Inc., Ventana Medical Systems Inc., Thermo Fisher Scientific Inc. and others.
Reasons to buy Global Companion Diagnostics Market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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