The companion diagnostics industry analysis projects the market to grow at a significant CAGR of 12.45% during the forecast period, 2020-2030
Global Companion Diagnostics Market to Reach $7,536.7 Million by 2030
May 13, 2020, 13:58 ET
NEW YORK, May 13, 2020 /PRNewswire/ -- Key Questions Answered in this Report:
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• What are the long-term and short-term impacts of companion diagnostics on the human health continuum?
• What are the major market drivers, challenges, and opportunities in the global companion diagnostics market?
• What are the key development strategies which are implemented by the major players in order to sustain in the competitive market?
• What are the key regulatory implications in developed and developing regions for the global companion diagnostics market?
• How is the patent landscape in the industry shaping up future technological trends?
• How is each segment of the market expected to grow during the forecast period from 2020 to 2030?
• Who are the leading players with significant offerings to the global companion diagnostics market? What is the expected market dominance for each of these leading players?
• Which companies are anticipated to be highly disruptive in the future, and why?
• What are challenges that are yet to be met by the global companion diagnostics market?
Global Companion Diagnostics Market Forecast, 2020-2030
The companion diagnostics industry analysis projects the market to grow at a significant CAGR of 12.45% during the forecast period, 2020-2030. The global companion diagnostics market generated $1,764.7 million revenue in 2019, in terms of value. The global companion diagnostics market growth has been primarily attributed to the major drivers in this market such as growing incidence of cancer, growing demand for precision medicine, and co development of drug and diagnostics. However, there are significant challenges which are restraining the market growth. These challenges include uncertain reimbursement scenario, weak synchronization between therapeutics and diagnostics in marketing and distribution channels.
Expert Quote
"North America is the leading contributor in the global companion diagnostics market and contributed approximately 56.69% to the global market value in 2019. This region is anticipated to grow at a significant CAGR during the forecast period 2020-2030 and continue dominating the global market in 2030. However, the Asia-Pacific region is expected to grow at the highest CAGR of 20.99% during the forecast period. In addition, the region of Europe also contributed a significant share of 25.95% to the global market in 2019."
Scope of the Market Intelligence on the Global Companion Diagnostics Market
The companion diagnostics research provides a holistic view of the market in terms of various factors influencing it, including regulatory reforms, and technological advancements.
The scope of the report primarily evaluates FDA-approved companion diagnostics products that are commercialized in the U.S. as well as other regions. In addition, the study also includes companion diagnostics products that have received approvals for commercialization from the European Medicines Agency (EMA), Ministry of Health, Labour and Welfare (MHLW) and Pharmaceuticals and Medical Devices Agency (PMDA), and National Medical Products Administration (NMPA; formerly known as China Food and Drug Administration or the CFDA).
Market Segmentation
The global companion diagnostics market segmentation (on the basis of manufacturing) is further segmented on the basis of technology, application, and region.
The global companion diagnostics market segmentation (on the basis of technology) is segmented into polymerase chain reaction (PCR), immunohistochemistry (IHC), in-situ hybridization (ISH), and next-generation sequencing (NGS).
The global companion diagnostics market segmentation (on the basis of application) is segmented into lung cancer, breast cancer, colorectal cancer, leukemia, stomach cancer, and melanoma.
The global companion diagnostics market segmentation (on the basis of region) is segmented into North America, Europe, Asia-Pacific, and Rest-of-the-World.
Key Companies in the Global Companion Diagnostics Market
The key manufacturers who have been contributing significantly to the global companion diagnostics market include Abbott Laboratories, Agilent Technologies, Inc., ARUP Laboratories, bioMérieux S.A., Danaher Corporation, DiaCarta, Inc., F. Hoffmann-La Roche Ltd, ICON plc, Illumina, Inc., Invivoscribe Technologies, Inc., Myriad Genetics, Inc., Novogene Corporation, QIAGEN N.V., Thermo Fisher Scientific Inc among others.
Countries Covered
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Rest-of-Europe
• Asia-Pacific
• China
• Japan
• India
• Australia
• Singapore
• Rest-of-Asia-Pacific
• Rest-of-the-World
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