DUBLIN, Sept. 24, 2019 /PRNewswire/ -- The "Companion Diagnostics Market by Product & Service (Assay, Kit, Software & Service), Technology (PCR, NGS, ISH, IHC), Indication (Breast, Lung & Colorectal Cancer, Cardiovascular Disease), End-User (Pharma Companies, CRO), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
In this report, the companion diagnostics market is segmented on the basis of product & service, technology, indication, end-user, and region
The companion diagnostics market is projected to reach USD 7,299.4 million by 2024 from USD 3,515.8 million in 2019, at a CAGR of 15.7% during the forecast period.
The growth of the companion diagnostics market is primarily tied to the advantages of companion diagnostics, the growing need for targeted therapy, the growing importance of personalized medicine, the increasing global incidence of cancer, and the growing application areas of companion diagnostics.
The increasing demand for next-generation sequencing, the growing significance of companion diagnostics in drug development, and the increasing number of clinical trials are also expected to present growth opportunities for players in the market.
On the other hand, the high cost of companion diagnostic tests and the uncertain reimbursement scenario in different regions may limit the adoption of these tests, which will have a negative impact on market growth. The shortage of trained professionals may also challenge market growth to a certain extent in the coming years.
Some of the major players in the companion diagnostics market include F. Hoffmann-La Roche AG (Switzerland), Agilent Technologies, Inc. (US), QIAGEN N.V. (Netherlands), Abbott Laboratories, Inc. (US), Almac Group (UK), Danaher Corporation (US), Illumina, Inc. (US), bioMerieux SA (France), Myriad Genetics, Inc., (US), Sysmex Corporation (Japan), Thermo Fisher Scientific Inc. (US), Abnova Corporation (Taiwan), and GUARDANT HEALTH, INC. (US).
Reasons to Buy the Report
This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one, or any combination of the below mentioned five strategies for strengthening their market presence.
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the global companion diagnostics market.
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and service launches in the global companion diagnostics market.
- Market Development: Comprehensive information on the lucrative emerging regions.
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the global companion diagnostics market.
- Competitive Assessment: In-depth assessment of product offered, market shares, growth strategies, and revenue analysis of leading players in the global companion diagnostics market.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Companion Diagnostics: Market Overview
4.2 Asia Pacific: Companion Diagnostics Market, By End User (2018)
4.3 Regional Mix: Companion Diagnostics Market
4.4 Companion Diagnostics Market: Developing vs. Developed Countries
4.5 Geographical Snapshot of the Companion Diagnostics Market
5 Market Overview
5.2 Market Dynamics
126.96.36.199 Advantages of Companion Diagnostics
188.8.131.52 Growing Need for Targeted Therapy
184.108.40.206 Growing Importance of Personalized Medicine
220.127.116.11 Increasing Global Incidence of Cancer
18.104.22.168 Growing Application Areas of Companion Diagnostics
22.214.171.124 High Cost of Companion Diagnostic Tests
126.96.36.199 Uncertain Reimbursement Scenario in Different Regions
188.8.131.52 Increasing Demand for Next-Generation Sequencing
184.108.40.206 Growing Significance of Companion Diagnostics in Drug Development
220.127.116.11 Increasing Number of Clinical Trials
18.104.22.168 Shortage of Trained Professionals
6 Industry Insights
6.2 Industry Trends
6.2.1 Growing Focus on Liquid Biopsy in Companion Diagnostics
6.2.2 Increasing Collaborations
6.3 Regulatory Analysis
6.3.1 North America
6.4 Product Pipeline Analysis
7 Companion Diagnostics Market, By Product & Service
7.2 Assays, Kits, & Reagents
7.2.1 With the Growing Need for Personalized Medicine, the Volume of Companion Diagnostic Tests Performed in Laboratories is Increasing, Which Supports the Adoption of Assays & Kits
7.3 Software & Services
7.3.1 the Need for Effective Data Management Software Within Laboratories is Increasing, Contributing to the Growth of the Companion Diagnostic Software & Services Market
8 Companion Diagnostics Market, By Technology
8.2 Polymerase Chain Reaction (PCR)
8.2.1 Growing Applications of PCR Technologies in the Field of Personalized Medicine and Companion Diagnostics Drive the Growth of This Segment
8.3 Next-Generation Sequencing (NGS)
8.3.1 the NGS Segment is Expected to Grow at the Highest CAGR During the Forecast Period
8.4 in Situ Hybridization (ISH)
8.4.1 Increasing Adoption of ISH is Mainly Due to Advancements in Hybridization and Its Demand in Small-Tumor Diagnostics
8.5 Immunohistochemistry (IHC)
8.5.1 Increasing Demand for User-Friendly and Cost-Effective Technologies in Companion Diagnostics to Drive the Growth of This Segment
8.6 Other Technologies
9 Companion Diagnostics Market, By Indication
9.2.1 Breast Cancer
22.214.171.124 Breast Cancer is the Most Common Cancer Among Women - A Key Factor Contributing to the Large Share of This Market Segment
9.2.2 Lung Cancer
126.96.36.199 Growing Demand for Therapeutic Drugs and Their High Efficacy in the Treatment of Lung Cancer Increase the Adoption of Companion Diagnostics in This Segment
9.2.3 Colorectal Cancer
188.8.131.52 Growing Need for Molecular Profiling of Primary Tumors in Colorectal Cancer to Drive Growth in This Market Segment
9.2.5 Gastric Cancer
184.108.40.206 Increasing Focus of Market Players on the Development of Tests and Kits for Gastric Cancer Indications to Drive Market Growth
9.3 Neurological Diseases
9.3.1 Growing Number of Diagnostic Technologies for the Treatment of Neurological Diseases to Boost the Adoption of Companion Diagnostics in This Segment
9.4 Infectious Diseases
9.4.1 Growing Focus of Companion Diagnostic Players on Orphan Indications to Propel the Growth of This Segment During the Forecast Period
9.5 Cardiovascular Diseases
9.5.1 Growing Demand for Targeted Therapies Due to High Incidence and Mortality Rate of Cardiovascular Diseases to Drive Growth in This Segment
9.6 Other Indications
10 Companion Diagnostics Market, By End User
10.2 Pharmaceutical & Biopharmaceutical Companies
10.2.1 Wide Usage of Companion Diagnostics in Pharmaceutical & Biopharmaceutical Companies Owing to Their Growing Prominence in Drug Development to Drive Market Growth
10.3 Reference Laboratories
10.3.1 Growing Incidence of Diseases Such as Cancer and the Rising Demand for Targeted Therapies to Drive the Growth of This End-User Segment
10.4 Contract Research Organizations
10.4.1 CROs Offer a Complete Range of Companion Diagnostic Services Ranging From Companion Diagnostic Development to Targeted Therapy-Related Clinical Trials
10.5 Other End Users
11 Companion Diagnostics Market, By Region
11.2 North America
220.127.116.11 US is the Largest Market for Companion Diagnostics in North America
18.104.22.168 Government Initiatives to Promote Companion Diagnostics in Various Indications are Expected to Drive Market Growth in Canada
22.214.171.124 Germany is a Major Market for Pharmaceutical and Biotechnology Products in Europe
126.96.36.199 Growth in the Country's Life Science Industry and Increasing Research are Key Factors Driving Market Growth in the UK
188.8.131.52 Switzerland Boasts a Strong Research-Oriented Pharma Industry
184.108.40.206 Increasing Government Funding for Genomics and Personalized Therapeutics R&D is Driving Market Growth
220.127.116.11 Growing Disease Prevalence has Contributed to the Demand for Better, More Powerful Therapeutics in Italy
18.104.22.168 Medical Institutes in Spain are Increasingly Focusing on Cancer Biomarker Research
11.3.7 Rest of Europe
11.4 Asia Pacific
22.214.171.124 Japan Holds the Largest Share of the Market in APAC
126.96.36.199 China is One of the Most Prominent Research Markets, Worldwide
188.8.131.52 Indian Government has Focused on Tackling the Problem of a Growing Cancer Incidence
184.108.40.206 Rising Burden of Geriatric Population has Resulted in Initiatives to Enhance Healthcare Access and Infrastructure
11.4.5 Rest of Asia Pacific
11.5 Latin America
220.127.116.11 Brazil Dominates the Latin American Companion Diagnostics Market
18.104.22.168 Mexico is Emerging as a Prominent Medical Tourism Hub
11.5.3 Rest of Latin America
11.6 Middle East and Africa
11.6.1 Rising Cancer Incidence Rate has Attracted Stakeholder Attention to Regional Markets in MEA
12 Competitive Landscape
12.2 Market Share Analysis
12.3 Competitive Leadership Mapping, 2018
12.4 Vendor Inclusion Criteria
12.5 Vendor Dive
12.5.1 Visionary Leaders
12.5.3 Emerging Companies
12.5.4 Dynamic Differentiators
12.6 Competitive Situations and Trends
12.6.1 Partnerships, Collaboration, and Agreements
13 Company Profiles
13.1 F. Hoffmann-La Roche AG
13.1.1 Business Overview
13.1.2 Products Offered
13.1.3 Recent Developments
13.2 Agilent Technologies Inc.
13.3 QIAGEN N.V.
13.4 Abbott Laboratories Inc.
13.5 Almac Group
13.6 Danaher Corporation
13.7 Illumina Inc.
13.8 bioMerieux S.A.
13.9 Myriad Genetics Inc.
13.10 Sysmex Corporation
13.11 Thermo Fisher Scientific Inc.
13.12 Abnova Corporation
13.13 Guardant Health Inc.
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