The Global Companion Diagnostics Market is growing rapidly and expected to grow at a CAGR of 6.1% during the forecast period.
Companion diagnostics are the tests and tools used to determine the effect of drug molecule on the particular patients and also the potential patients who can be benefited by a specific treatment. The use of companion diagnostic treatments is an exciting field of medical development. The potential value of companion diagnostics for patients is safer treatment with improved outcomes. The focus of medicine has always been on the wellbeing of the individual patient but with medicine becoming an increasing burden on taxpayers, reducing the cost of quality care is now of prime importance. Companion diagnostics offer an innovative way to achieve a better quality of care at a reduced price. Globally the market for companion diagnostics is growing rapidly.
There are various factors which support the growth of the market, these include increasing costs of the drug discovery and development, rising need for the assessment of the efficacy and safety of the drugs, desperate need for the specific medication for rare and chronic disorders, and technological advancements in the companion diagnostics devices. Furthermore, increase in the demand for diagnostic devices for early detection tumors in case of cancer also boost the market growth.
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On the other hand, there are some factors which hinder the growth of the market such as lack of awareness in the developing nations and lack of skilled professionals.
The major participants of this market are Abbott (U.S.), Agilent Technologies (U.S.), ARUP Laboratories (U.S.), F. Hoffmann-La Roche AG. (Germany), Myriad Genetics Inc. (U.S.), QIAGEN N.V. (Germany), and Thermo Fisher Scientific Inc. (U.S.).
December, 2016 Agilent Technologies announced the acquisition of Multiplicom N.V., a Leading European Diagnostics Company. The acquisition of Multiplicom significantly strengthens our presence in the genomics market
August, 2016 Abbott announced the introduction of its new “Alinity”, a family of next generation systems across immunoassay, clinical chemistry, point of care, haematology, blood and plasma screening and molecular diagnostics.
May, 2016 Myriad completes acquisition of Sividon Diagnostics. With this deal, company believes to strengthen its market leading oncology portfolio of high value personalized medicine products.
Sep. 2017 – Thermo Fisher Scientific (US) a leading global provider of biotechnology product development announced partnership with the Institute of Pathology Heidelberg (IPH). The initiative focuses on forging strategic collaborations with leading, European-based organizations that can lead studies using Thermo Fisher’s Oncoming portfolio of research panels destined for development as Companion Diagnostics to help drive precision oncology in the region.
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The global companion diagnostics market has been segmented on the basis of technology which comprises of Polymerase chain reaction (PCR), In-situ hybridization, and immunohistochemistry. On the basis of application, market is segmented into cancer, infectious diseases, cardiovascular diseases, CNS diseases, and others. On the basis of end user, market is segmented into pharmaceutical & biotech companies, clinical laboratories, CRO, and other.
1.2 Scope of Study
1.3 Research Objective
1.4 Assumptions & Limitations
1.5 Market Structure
2 Research Methodology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
3 Market Dynamics
3.5 Macroeconomic Indicators
4 Market Factor Analysis
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