Global Companion Diagnostics Market was valued US$ 3.19 Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of XX % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
A diagnostic is a process of determining disease, condition, and illness, which clarifies a person symptoms & signs that is useful for an individual's treatment. Companion diagnostic is a medical device that provides important information required for the safety & effective use of a biological product. Companion diagnostics are majorly used in the oncology area due to the growing incidence of cancer and their focus on cancer research. The important driving factors of the global companion diagnostics market are the rising demand for targeted therapy and the increasing prevalence of cancer. Rising awareness of personalized medicines, cases of adverse drug reactions, and co-development of drug & diagnostic technology is also boosting the growth market. Increasing demand for next-generation sequencing and emerging applications of companion diagnostics in oncology indication provides key opportunities for companion diagnostics market. However, high cost involved in the development of therapeutics & diagnostic tests, and issues related to intellectual property rights is limiting the market growth. The assay kits & reagents segment accounted for the largest share in the market, owing to its wide range of applications in platforms such as PCR, NGS, IHC, and ISH. Polymerase chain reaction (PCR) is a method widely used in molecular biology to make many copies of a specific DNA segment and is occupied the largest share during the forecast period. Next-generation sequencing (NGS) is the technology that is used to arrange millions of small fragments of DNA in a line at the same time NGS are capable of processing multiple DNA sequences in parallel. NGS is expected to grow at a high CAGR during the forecast period owing to the availability of next-generation sequencing at low cost, technological advancements and high prevalence of cancer cases. The supportive government initiatives to promote precision medicine research, along with the strategic alliances between key market players for companion diagnostics test development is expected to hold the largest share in North America followed by Europe throughout the forecast period. Increasing technological advancements aimed at developing companion diagnostic tests for new indications such as neurology, infectious diseases are also expected to hold the largest share in this region. Europe is rising demand for efficiency in healthcare & strengthening healthcare system and Germany is the largest market in Europe due to the presence of major market players and growing demand for technological advancement in these regions. However, Middle East & Africa are estimated to have a limited but stable growth owing to low healthcare expenditure and demand for primary healthcare services in this region.
The Global Companion Diagnostics Market dynamics are thoroughly studied and explained, which helps reader to understand emerging market trends, drivers, restraints, opportunities, and challenges at global and regional level for the Global Companion Diagnostics Market dynamics.
The Global Companion Diagnostics Market size was valued at US$ XX.XX million in 2018, and is projected to reach US$ XX.XX million by 2026, growing at a CAGR of XX.XX during forecast period.
Global Companion Diagnostics Market: Competition Landscape
The Global Companion Diagnostics Market has the presence of a large number of players. Major players in the Global Companion Diagnostics Market are concentrating on developing new technologies to facilitate the industry with lowest time and low expenditure consuming technologies. In the recent years there are many discoveries in the field of technologies with regards to Global Companion Diagnostics Market, which in turn will help the industry to grow resulting in boost to the competition too. Detailed analysis of competition, new entrants, strategic alliances, mergers and acquisition in the Global Companion Diagnostics Market is covered in the report. The report covers the market leaders and followers in the industry with the market dynamics by region. It will also help to understand the position of each player in the market by region, by segment with their expansion plans, R&D expenditure and organic & in-organic growth strategies. Long term association, strategic alliances, supply chain agreement and mergers & acquisition activities are covered in the report in detail from 2014 to 2019. Expected alliances and agreement in forecast period will give future course of action in the market to the readers. All major & important players are profiled, benchmarked in the report on different parameters that will help reader to gain insight about the market in minimum time.
Objective of the Report:
The objective of the report is to present a comprehensive analysis of Global Companion Diagnostics Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Companion Diagnostics Market dynamics, structure by analyzing the market segments and project the Global Companion Diagnostics Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Companion Diagnostics Market make the report investor’s guide.
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Scope of Global Companion Diagnostics Market:
Global Companion Diagnostics Market, by Product and Service:
• Assay kits & reagents
• Software & service
Global Companion Diagnostics Market, by Technology:
• In situ hybridization
• Polymerase chain reaction
• Next-generation sequencing
• Other technologies
Global Companion Diagnostics Market, by Indications:
• Infectious diseases
• Other indications
Global Companion Diagnostics Market, by End-User:
• Pharmaceutical & biopharmaceutical companies
• Reference laboratories
• Other end users
Global Companion Diagnostics Market, by Region:
• North America
• South America
• Middle East & Africa
Key Player Operating In the Global Companion Diagnostics Market:
• Abbott Laboratories
• Agilent Technologies, Inc.
• ARUP Laboratories
• BioMérieux SA
• Danaher Corporation
• F. Hoffmann-La Roche AG
• Illumina, Inc.
• Invivoscribe Technologies, Inc.
• MolecularMD Corporation
• Myriad Genetics, Inc.
• QIAGEN N.V.
• Thermo Fisher Scientific Inc.
• ArcherDx, Inc.
• Exosome Diagnostics, Inc.
• NeoGenomics, Inc.
• MDxHealth, Inc.
• NanoString Technologies, Inc.
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