Global Companion Diagnostics Market Report 2018-2022 - Improvements in Regulatory Guidelines is a Major Market Driver
DUBLIN, March 21, 2018 /PRNewswire/ --
The "Companion Diagnostics Market by Technology, Indication, and End User - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The global Companion Diagnostics market is projected to reach USD 6.51 Billion by 2022 from USD 2.61 Billion in 2017, at a CAGR of 20.1%.
The growth of market is majorly driven by the factors such as improvements in regulatory guidelines, growing need for targeted therapies, rising cancer incidence across the globe, and increasing collaborations and partnerships for companion diagnostics test development.
The report analyzes the companion diagnostics market by product & service, technology, indication, end user, and region.
On the basis of product & service, the assay kits & reagents segment accounted for the largest share in 2016, owing to its wide range of applications in platforms such as PCR, NGS, IHC, and ISH.
Based on technology, the polymerase chain reaction segment accounted for the largest share in 2016. The large share of this segment can be attributed to the advantages of PCR such as its ease of use and easy availability of kits & reagents with a quick turnaround time as compared to other technologies.
Based on indication, the global market is further categorized into oncology, infectious diseases, neurology, and other indications (including cardiovascular, inflammatory, and inherited diseases). In 2016, the oncology segment accounted for the largest share and is also the fastest growing segment of the market; this is primarily attributed to the growing incidence of cancer that enhanced the focus on cancer research and also broadened the role of companion diagnostics in this field.
On the basis of end user, the pharmaceutical and biopharmaceutical companies segment accounted for the largest share of the market in 2016. This end-user segment is also expected to register the highest CAGR during the forecast period. The largest share and growth of this market can be attributed to increasing and significant application of companion diagnostics in the drug development process.
In 2016, North America dominated the market, and this is primarily attributed to the presence of a structured regulatory framework in the region, large number of drug development activities, and the development and launch of several companion diagnostic products in recent years. The Asia-Pacific region is expected to witness the highest CAGR during the forecast period, owing to the growing need of tailored therapeutics for the elderly population; increasing number of hospitals and diagnostic laboratories; and growing prevalence of life-threatening diseases are driving the growth of the market in this regional segment.
However, uncertain reimbursement scenarios in different countries such as the U.S., U.K., Japan, and Australia are expected to limit market growth. In 2016, F. Hoffmann-La Roche AG (Switzerland), Agilent Technologies, Inc. (U.S.), and QIAGEN N.V. (Netherland) dominated the global companion diagnostics market. Some of the other players competing in this market are Thermo Fisher Scientific Inc. (U.S.), Abbott Laboratories, Inc. (U.S.), Myriad Genetics, Inc. (U.S.), Danaher Corporation (U.S.), Almac Group (U.S.), and Sysmex Corporation (Japan).
Market Dynamics
Drivers
- Improvements in Regulatory Guidelines
- Growing Need for Targeted Therapies
- Rising Cancer Incidence Worldwide
- Increasing Collaborations and Partnerships for Companion Diagnostics Test Development
Restraint
- Uncertain Reimbursement Scenarios in Different Regions
Opportunities
- Increasing Demand for Next-Generation Sequencing
- Increasing Number of Clinical Trials to Boost the Adoption of Companion Diagnostics
- Emerging Applications of Companion Diagnostics in Other Cancer Indications, Neurological Disorders, Infectious Diseases, and Cardiovascular Diseases
Challenge
- Intellectual Property Rights Protection Issues
Key Topics Covered
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.2.1 Markets Covered
1.2.2 Years Considered in the Report
1.3 Currency
1.4 Limitations
1.5 Stakeholders
2 Research Methodology
2.1 Market Size Estimation
2.2 Data Triangulation
2.2.1 Key Data From Secondary Sources
2.2.2 Key Data From Primary Sources
2.2.2.1 Key Industry Insights
2.2.3 Assumptions for the Study
3 Executive Summary
4 Premium Insights
4.1 Global Companion Diagnostics Market Overview
4.2 Global Market, By Indication
4.3 Global Market, By Product & Services
4.4 Global Market, By Technology
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraint
5.2.3 Opportunities
5.2.4 Challenge
6 Companion Diagnostics Market, By Product & Service
6.1 Introduction
6.2 Assay Kits and Reagents
6.3 Software & Services
7 Companion Diagnostics Market, By Technology
7.1 Introduction
7.2 Polymerase Chain Reaction
7.3 Immunohistochemistry
7.4 In Situ Hybridization
7.5 Next-Generation Sequencing
7.6 Other Technologies
8 Companion Diagnostics Market, By Indication
8.1 Introduction
8.2 Oncology
8.2.1 Breast Cancer
8.2.2 Lung Cancer
8.2.3 Colorectal Cancer
8.2.4 Melanoma
8.2.5 Gastric Cancer
8.2.6 Other Cancers
8.3 Neurology
8.4 Infectious Diseases
8.5 Other Indications
9 Companion Diagnostics Market, By End User
9.1 Introduction
9.2 Pharmaceutical and Biopharmaceutical Companies
9.3 Reference Laboratories
9.4 Other End Users
10 Companion Diagnostics Market, By Region
10.1 Introduction
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Europe
10.3.1 Germany
10.3.2 France
10.3.3 U.K.
10.3.4 Rest of Europe
10.4 Asia-Pacific
10.5 Rest of the World
11 Competitive Landscape
11.1 Introduction
11.2 Market Ranking Analysis
11.3 Competitive Leadership Mapping
11.3.1 Visionary Leaders
11.3.2 Innovators
11.3.3 Dynamic Differentiators
11.3.4 Emerging Companies
11.4 Competitive Benchmarking
11.4.1 Strength of Product Portfolio (For 25 Players)
11.4.2 Business Strategy Excellence (For 25 Players)
12 Company Profiles
12.1 F. Hoffmann-La Roche AG
12.2 Agilent Technologies, Inc.
12.3 Qiagen N.V.
12.4 Thermo Fisher Scientific Inc.
12.5 Abbott Laboratories, Inc.
12.6 Biomrieux SA
12.7 Danaher Corporation
12.8 Illumina, Inc.
12.9 Myriad Genetics, Inc.
12.10 Arup Laboratories Inc.
12.11 Sysmex Corporation
12.12 Hologic Inc.
12.13 Novartis AG
12.14 Almac Group
12.15 Abnova Corporation
For more information about this report visit https://www.researchandmarkets.com/research/z9dvxs/global_companion?w=5
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article