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Global Companion Diagnostics Market Report 2022: Sector to Reach $11.7 Billion by 2027 at a CAGR of 15.22%
DUBLIN, March 30, 2023 /PRNewswire/ -- The "Companion Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global companion diagnostics market size reached US$ 5.0 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 11.7 Billion by 2027, exhibiting a CAGR of 15.22% during 2021-2027.
- Abbott Laboratories
- Agilent Technologies
- Danaher Corporation
- Roche Holding AG
- Myriad Genetics Inc.
- Siemens Healthcare
- Thermo Fisher Scientific Inc.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Companion diagnostics refer to a combination of tests and therapies that provide essential information about corresponding therapeutic products to deliver safe and effective medical care.
These diagnostics also offer an in-depth understanding of disease biology and the mechanism of action (MOA), which help healthcare professionals determine the potential side effects or risks of a therapeutic product on the patient. At present, companion diagnostics are extensively utilized in oncology to deliver targeted therapies and personalized medicines to patients.
The growing prevalence of cancer, in confluence with the escalating demand for in-vitro diagnostics and targeted therapies, represents one of the key factors impelling the global companion diagnostics market growth. Apart from this, personalized healthcare (PHC) and precision medicine are also gaining traction in the treatment of cardiovascular, neurological, infectious and inflammatory diseases, which, in turn, is bolstering the growth of the market.
Furthermore, the escalating demand for next-generation sequencing (NGS), the rising number of clinical trials and the increasing focus on the co-development of drugs and diagnostic technologies are contributing to the market growth.
The introduction of new biomarkers, rising approvals of companion diagnostics and increasing collaboration between companies to develop novel companion diagnostic products are some of the other factors positively influencing the market growth.
Currently, due to the spread of the coronavirus disease (COVID-19), diagnostic service providers are providing test services to healthcare providers. They are also utilizing companion diagnostics to detect the efficacy of COVID-19 drugs among patients undergoing oncology therapies.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global companion diagnostics market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product & service, technology, indication and end user.
Breakup by Product & Service:
- Assays, Kits and Reagents
- Software and Services
Breakup by Technology:
- Immunohistochemistry (IHC)
- Polymerase Chain Reaction (PCR)
- In-situ Hybridization (ISH)
- Real-time PCR (RT-PCR)
- Gene Sequencing
Breakup by Indication:
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Gastric Cancer
- Neurological Diseases
- Infectious Diseases
- Cardiovascular Diseases
Breakup by End User:
- Pharmaceutical & Biopharmaceutical Companies
- Reference Laboratories
- Contract Research Organizations
Key Questions Answered in This Report:
1. What was the size of the global companion diagnostics market in 2021?
2. What is the expected growth rate of the global companion diagnostics market during 2022-2027?
3. What has been the impact of COVID-19 on the global companion diagnostics market?
4. What are the key factors driving the global companion diagnostics market?
5. What is the breakup of the global companion diagnostics market based on the product & service?
6. What is the breakup of the global companion diagnostics market based on the technology?
7. What is the breakup of the global companion diagnostics market based on the indication?
8. What is the breakup of the global companion diagnostics market based on the end user?
9. What are the key regions in the global companion diagnostics market?
10. Who are the key players/companies in the global companion diagnostics market?
For more information about this report visit https://www.researchandmarkets.com/r/rqr82l
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SOURCE Research and Markets