Qiagen, Agilent Technologies, Roche Holdings, Myriad Genetics, Seimens Healthineers, and Takeda Pharmaceuticals are some of the big players in the global companion diagnostic market.
The global companion diagnostic market was valued at USD 5.8 billion in 2016. The market is expected to record a CAGR of 35%, to reach almost USD 26 billion by 2022. Companion Diagnostics includes a wide and expanding range of genetic, RNA, and protein measurement tests, to evaluate several diseases.
Latest Developments
Companion diagnostics is witnessing a lot of developments in precision medicines, including precision oncology. Oncomine Dx Target Test was recently approved by the FDA, for the detection of multiple gene mutations for lung cancer. This assay utilizes next-generation sequencing to screen 23 cancer genes. The targeted therapies rely heavily on reliable and accurate diagnostics, which can be fulfilled through collaborations. One such example is Dako/Merck partnership. About 25% of the new drugs, which are personalized medicines, are a link between treatment and diagnostics, approved by the FDA. Such drugs are considered as a profitable source by various companies, for steady growth using companion diagnostics in the near future.
Collaboration between ArcherDX and Celegene is another example of the development of a drug through NGS-based oncology, using companion diagnostics. EMA is also planning to address the guidelines of companion diagnostics for precision medicines in clinical development and post-approval phases, in order to replace its earlier guidelines on co-development of pharmacogenomics markers and assays.
Market Insights
Globally, based on technology development, the in situ hybridization segment accounted for the highest value of USD 1.3 billion in 2016 and is estimated to account for almost USD 5.3 billion by 2022, at a CAGR of 31%. The gene sequencing segment is expected to provide tough competition, as several major companies are switching to NGS methods in therapeutics development. For a long time, in many cancer therapies, the hospitals majorly preferred fluorescence in situ hybridization (FISH), as a reliable accurate procedure. North America has the largest market share, with the Asia-Pacific region estimated to record the highest CAGR of more than 30% for the next five years. The chromogenic in situ hybridization (CISH) and automated silver-enhanced in situ hybridization (SISH) are the recent developments.
For Full Report Click Here: Global Companion Diagnostic Market
In this report, the market has been segmented on the basis of technology, cancer indications, and geography. By technology, the market has been segmented into immunohistochemistry, polymerase chain reaction, in situ hybridization, real-time PCR, gene sequencing, and ‘others’. On the basis of cancer indications, the market has been segmented into lung cancer, breast cancer, colorectal cancer, leukemia cancer, melanoma, and ‘others’. Geographically, the report provides rich insights into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, including documentation of major countries in each region. The major players competing in this market are Qiagen, Dako (Agilent Technologies), Roche Holdings, Myriad Genetics, Seimens Helthineers, Takeda Pharmaceuticals, Abbott Laboratories, Thermo Fisher Scientific, Tacogen, Illumina, and others.
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