Global Companion Diagnostics Market, By Technology (Polymerase Chain Reaction {PCR}, Immunohistochem

Published Date: | Report Code : HC1929336

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Companion Diagnostics Market is projected to register high demand during the forecast period with increasing demand from major technology such as Polymerase Chain Reaction (PCR), Immunohistochemistry (IHC), In Situ Hybridization (ISH), Next-Generation Sequencing (NGS), Others during the forecast period. In the era of drug precision, the healthcare industry is focused on the progress of advanced biomarker-based diagnostics to deliver enhanced treatment outcomes and better patient care. Companion diagnostics in this play an important role especially for market access and clinical development. Companion diagnostics help to determine if the patient will benefit from a certain drug and dosage. These tests help to identify the right treatment for the patient at the right time.

According to Harvard University, even appropriately prescribed drugs cause approximately 1.9 million hospitalizations per year and around 128,000 people die from prescribed drugs. Thus, there is a need for effective drugs. Owing to such requirements, the companion diagnostics market is assured exponential growth.

The growth of the global companion diagnostics market can be attributed to the rising focus on the co-development of diagnostic technologies. Moreover, escalating cases of drug adversity are driving the need for companion diagnostics. Companies have been collaborating for better diagnostics and biomarkers. As a result, there has been increasing in its application base in indications, like cardiovascular, oncology, neurological disorders, and others.

Segment Analysis

Based on technology, the companion diagnostics market is segmented into Polymerase Chain Reaction (PCR), Immunohistochemistry (IHC), In Situ Hybridization (ISH), Next-Generation Sequencing (NGS), and others. The healthcare business has observed numerous positive procedures for parallel development of treatment and its companion diagnostic mainly for oncology. On the side, the commercialization of companion diagnostics for oncology treatment has drawn the attention of several companies in diagnostics and pharmaceuticals to enter this market by developing CDx solutions for non-oncology indications.

Based on indication, the market has been segmented into Oncology diseases (lung cancer, breast cancer, colorectal cancer, stomach cancer, leukemia, melanoma, others), and non-oncology diseases. Based on product type, the market has been divided into assay kits and reagents. The companion diagnostics market has been studied for North America, Eastern Europe, Western Europe, Asia Pacific, Middle East, and Rest of the World. An increasing number of chronic diseases and augmentation in healthcare are some other factors driving the market.

Key Factors Impacting Market Growth:

  • Companion diagnostics reduce healthcare cost
  • Companion diagnostics support personalized therapies
  • Offer a mechanism to collect meaningful data
  • Holds potential to assist and improve drug development

Regional Outlook:

North America, Western Europe, and the Asia Pacific by region are estimated to dominate the companion diagnostics market during the forecast period. These regions have been market leaders for the overall healthcare sector in terms of technological developments and advanced medical treatments. Moreover, government policies have been favorable for the growth of the healthcare infrastructure in these regions. North America and Western Europe have an established healthcare infrastructure for product innovations and early adaptations. This is expected to drive the demand for companion diagnostics market during the forecast period. 

The US, Germany, France, UK, Canada, and Spain have been some of the major markets in the region. Asia Pacific is estimated to register one of the highest CAGR for the companion diagnostics market during the forecast period. This region has witnessed strategic investments by global companies to cater to the growing demand in recent years. China, Japan, India, South Korea, and Australia are amongst some of the key countries for the companion diagnostics market in the region. Other regions including the Middle East, Eastern Europe, and Rest of the World (South America and Africa) are estimated to be emerging markets for the companion diagnostics market during the forecast period.

Companies Covered: Abbott Laboratories, Danaher Corporation, bioMérieuxS.A, ARUP Laboratories, F. Hoffmann-La Roche AG, MolecularMD Corporation, Invivoscribe Technologies, Inc., QIAGENN.V., Thermo Fisher Scientific Inc., and Myriad Genetics, Inc…

Market Segmentation:

By Technology:

  • Polymerase Chain Reaction (PCR)
  • Immunohistochemistry (IHC),
  • In Situ Hybridization (ISH)
  • Next-Generation Sequencing (NGS)
  • Others

By Indication:

  • Oncology Diseases
    • Lung Cancer
    • Breast Cancer
    • Colorectal Cancer
    • Stomach Cancer
    • Leukemia
    • Melanoma
    • Others
  • Non-Oncology Diseases

By Product Type

  • Assay kit
  • Reagents 

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Technology
    • By Indication
    • By Product Type
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Technology
    • By Indication
    • By Product Type
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • Technology
    • By Indication
    • By Product Type
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • Technology
    • By Indication
    • By Product Type
  • Middle East
    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
    • Technology
    • By Indication
    • By Product Type
  • Rest of the World
    • By Region (South America, Africa)
    • By Technology
    • By Indication
    • By Product Type

Reasons to Buy This Report:

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  • Broad scope to cover all the possible segments helping every stakeholder in the market

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