High prevalence of cancer to augment growth of companion diagnostic market
Market Overview:
Companion diagnostics are advanced tool that is widely used in diagnosis of diseases such as lung cancer, breast cancer, gastric cancer, and neurological diseases. Moreover, it also provide important information of the drug such as whether the drug is effective and safe towards particular treatment in patients.
Competitive Landscape: Hoffmann-La Roche AG, Agilent Technologies, Inc, QIAGEN N.V, Abbott Laboratories, Inc., Almac Group, Danaher Corporation, Illumina, Inc, bioMérieux SA, Myriad Genetics, Inc, Sysmex Corporation, Thermo Fisher Scientific Inc, Abnova Corporation, Guardant Health, Inc., Icon Plc, and Biogenex Laboratories, Inc.
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Key Drivers
Growing prevalence of breast cancer, gastric cancer, lung cancer, and neurological diseases is driving growth of the companion diagnostic market. According to the World Health Organization, in 2020, there were 2.3 million women diagnosed with breast cancer and 685 000 deaths globally. As of the end of 2020, there were 7.8 million women alive who were diagnosed with breast cancer in the past 5 years, making it the world’s most prevalent cancer.
Increasing launch of new product for improving treatment efficiency is again fostering growth of the market. For instance, in 2019, Qiagen N.V announced the launch of therascreen PIk3CA RGQ polymerase chain reaction kit approved by the U.S. Food Drug and Administration, used for identifying the breast cancer patients eligible for treatment with PIQRAY, a therapy developed by Novartis.
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Covid-19 Impact Analysis
During the COVID-19 pandemic, early diagnosis of the infection has become important in the market, as it can help to find the right treatment for patients impacted by the virus. In order to get the early diagnosis of COVID-19, the polymerase chain reaction (PCR) test has been greatly conducted by using nasopharyngeal swabs or other upper respiratory tract specimens, including throat swabs. Thus, the market of companion diagnostic market has had witnessed strong growth during a pandemic.
Key Takeaways:
- The companion diagnostic market is expected to exhibit a CAGR of 19.5 % over the forecast period owing to the high prevalence of cancers such as breast and lung cancers.
- North America is expected to gain significant growth over the forecast period owing to the increasing FDA approval in the region. In August 2021, Roche announced U.S. Food and Drug Administration (FDA) approval of the VENTANA MMR RxDx Panel, to personalized healthcare through tests that determine which patients are most likely to benefit from specific and targeted therapies.
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Table Of Contents:
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Application
- Market Snippet, By Technology
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Impact Analysis
- Market Opportunities
- New Product Launches
- Mergers and Acquisitions
- Regulatory Scenario
- Pest Analysis
- Porters Five Forces Model
- Market Dynamics
- Global Companion Diagnostic Market, Impact of COVID-19 Pandemic
- Post COVID-19 Impact
- Implementation diagnosis/testing guidelines
- Implementation of Testing Guidelines in Case of Companion Diagnostics
- Global Companion Diagnostic Market, By Application, 2016–2027 (US$ Mn)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017–2027
- Segment Trends
- Lung Cancer
- Introduction
- Market size and forecast, and Y-o-Y Growth, 2020-2027, (US$ Mn)
- Breast Cancer
- Introduction
- Market size and forecast, and Y-o-Y Growth, 2020-2027, (US$ Mn)
- Colorectal Cancer
- Introduction
- Market size and forecast, and Y-o-Y Growth, 2020-2027, (US$ Mn)
- Gastric Cancer
- Introduction
- Market size and forecast, and Y-o-Y Growth, 2020-2027, (US$ Mn)
- Melanoma
- Introduction
- Market size and forecast, and Y-o-Y Growth, 2020-2027, (US$ Mn)
- Others
- Introduction
- Market size and forecast, and Y-o-Y Growth, 2020-2027, (US$ Mn)
- Cardiovascular Disease
- Introduction
- Market size and forecast, and Y-o-Y Growth, 2020-2027, (US$ Mn)
- Neurological Disease
- Introduction
- Market size and forecast, and Y-o-Y Growth, 2020-2027, (US$ Mn)
- Others
- Introduction
- Market size and forecast, and Y-o-Y Growth, 2020-2027, (US$ Mn)
- Lung Cancer
- Introduction
- Global Companion Diagnostic Market, By Technology, 2016 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017– 2027
- Segment Trends
- Real Time -Polymerase Chain Reaction ( PVR)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 – 2027, (US$ Mn)
- Gene Sequencing
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 – 2027, (US$ Mn)
- Fluorescence in- situ Hybridization
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 – 2027, (US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 – 2027, (US$ Mn)
- Real Time -Polymerase Chain Reaction ( PVR)
- Introduction
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