Global Companion Diagnostics Market, By Product and Services (Assay Kits and Reagents, Software & Services), Technology (Polymerase Chain Reaction, Molecular Diagnostics, FISH, CISH, Immunohistochemistry, Real-time PCR, Next-Generation Sequencing, Gene Sequencing, In Situ Hybridization), Indication (Oncology, Neurology, Infectious Diseases), Application (Colorectal Cancer, Breast Cancer, Lung Cancer, Melanoma, Urology, Gastric Cancer), End Users (Pharmaceutical and Biopharmaceutical Companies, Reference Laboratories), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Companion Diagnostics Market
The companion diagnostics market is expected to witness market growth at a rate of 13.85% in the forecast period of 2021 to 2028. Data Bridge Market Research report on companion diagnostic market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in healthcare sector globally is escalating the growth of companion diagnostics market.
A companion diagnostic refers to a medical device that is utilized as in- vitro device that provides information about safety and effectiveness of drug. This is a kind of test that can assist a healthcare professional in determining the beneficial effect of therapeutic products. It also helps in analyzing the serious side effects and risks.
The rise in number of application areas of companion diagnostics across the globe acts as one of the major factors driving the growth of companion diagnostics market. The rise in adoption rate of these assays by pharmaceutical manufacturers owning to their ability to reduce clinical trial timelines, and increase in need for targeted therapy accelerate the market growth. The increase in popularity of companion diagnostic because of economic benefits offered by oncology Companion Diagnostics (CDx) assays, and rise in the prevalence of cancer further influence the market. Additionally, rise in population, growing importance of personalized medicine and surge in healthcare expenditure positively affects the companion diagnostics market. Furthermore, increase in demand for next-generation sequencing and rise in number of clinical trials extend profitable opportunity to the market players in the forecast period of 2021 to 2028.
On the other hand, high cost associated with the companion diagnostic tests and uncertain reimbursement scenario in different regions are expected to obstruct the market growth. Shortage of trained professionals is projected to challenge the companion diagnostics market in the forecast period of 2021-2028.
This companion diagnostics market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on companion diagnostics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Companion Diagnostics Market Scope and Market Size
The companion diagnostic market is segmented on the basis of product and services, technology, indication, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of product and services, the companion diagnostics market is segmented into assay kits and reagents, and software & services.
- On the basis of technology, the companion diagnostics market is segmented into polymerase chain reaction, molecular diagnostics, FISH, CISH, immunohistochemistry, real-time PCR, next-generation sequencing, gene sequencing, and in situ hybridization.
- On the basis of indication, the companion diagnostics market is segmented into oncology, neurology and infectious diseases. Oncology is further segmented into breast cancer, lung cancer, colorectal cancer, gastric cancer, and melanoma.
- On the basis of application, the companion diagnostics market is segmented into colorectal cancer, breast cancer, lung cancer, melanoma, urology, and gastric cancer.
- On the basis of end users, the companion diagnostics market is segmented into pharmaceutical and biopharmaceutical companies and reference laboratories.
Global Companion Diagnostics Market Country Level Analysis
The companion diagnostics market is analyzed and market size insights and trends are provided by country, product and services, technology, indication, application and end-user as referenced above.
The countries covered in the companion diagnostics market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the companion diagnostics market because of the development of novel technologies and products for the prevention, detection, and treatment of cancer. Asia-Pacific is expected to witness significant growth during the forecast period of 2021 to 2028 due to the presence of effective regulations pertaining to the approval of oncology companion diagnostic tests for cancer in the region.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The companion diagnostics market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for companion diagnostics market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the companion diagnostis market. The data is available for historic period 2010-2019.
Competitive Landscape and Companion Diagnostics Market Share Analysis
The companion diagnostics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to companion diagnostics market.
The major players covered in the companion diagnostics market report are F. Hoffmann-La Roche Ltd., Qiagen, Abbott, Almac Group, Agilent Technologies, Inc., Clinical Lab Products, Myriad Genetics, Inc., Leica Biosystems Nussloch GmbH, Resonance Health, ARUP Laboratories, Life Technologies Tm, Sysmex Corporation, Thermo Fisher Scientific Inc., Illumina, Inc., Hologic, Inc., Abnova Corporation, bioMérieux SA, and Siemens Healthcare Private Limited, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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