According to the latest report by IMARC Group, titled “Companion Diagnostics Market Share: Global Industry Trends, Size, Growth, Opportunity and Forecast 2022-2027, Offers a comprehensive analysis of the industry, which comprises insights on global companion diagnostics market growth.” The global companion diagnostics market size reached US$ 5.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 11.7 Billion by 2027, exhibiting a growth rate (CAGR) of 14.78% during 2022-2027.
Companion diagnostics are a range of tests that help to match a patient to a particular therapy or drug. These tests are performed through an in-vitro medical device that offers essential information for the safe and effective use of a corresponding drug or biological product. These tests help in diagnosing different categories of diseases, including infectious, neurological, and cardiovascular diseases. Consequently, companion diagnostics are extensively utilized by laboratories, pharmaceuticals, and research institutes.
Global Companion Diagnostics Market Trends:
The rising demand for personalized medicine across the globe is majorly driving the companion diagnostics market growth. The rising awareness regarding the discovery of new biomarkers for diverse medical conditions are further contributing to the market growth. In line with this, an increasing numbercases of adverse drug reactions (ADRs) due to the lack of efficacy of treatment methods are fueling the market growth. Furthermore, rising research and development (RD) activities for the development of novel diagnostic tests for chronic diseases are creating a positive outlook for the market.
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Global Companion Diagnostic Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Abbott Laboratories, Agilent Technologies, BioMerieux, Danaher Corporation, Roche Holding AG, Myriad Genetics Inc., Siemens Healthcare and Thermo Fisher Scientific Inc.
The report has segmented the market on the basis on region, product services, 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:
- Neurological Diseases
- Infectious Diseases
- Cardiovascular Diseases
Breakup by End User:
- Pharmaceutical Biopharmaceutical Companies
- Reference Laboratories
- Contract Research Organizations
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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