Worldwide Companion Diagnostics Industry to 2028: Increase in Incidence of Medication Reactions and Increasing Prevalence of Cancer Cases and Fatalities Drives Growth

DUBLIN, March 1, 2023 /PRNewswire/ -- The "Global Companion Diagnostics Market 2022-2028" report has been added to  ResearchAndMarkets.com's offering.

The global companion diagnostics market is projected to progress with a CAGR of 12.84% during the forecast period 2022-2028.

The prominent factors fueling the global market's growth include a surge in medication reaction incidence, increasing cancer cases, and the growing use of precision medicines. Additionally, the ongoing research and investments in next generation gene-sequencing are expected to create affluent opportunities for the market.

However, a weak reimbursement framework and common cases of leakage in oncology companion diagnostics are expected to restrict the studied market's growth over the forecast period.

Regional Outlook

The global companion diagnostics market covers North America, Asia-Pacific, Latin America, Europe, and the Middle East and Africa regions.

The Asia-Pacific is anticipated to emerge as the fastest-growing region over the forecast period. The region's growth can be attributed to the tremendous growth in precision medicine technology. Moreover, initiatives undertaken to promote the R&D of precision medicine are supporting the market's growth. In this regard, diagnostic and pharma companies are collaborating to offer an international platform to facilitate access to precision medicine. Thus, as mentioned above, these factors are expected to widen the scope and growth of the companion diagnostics market in the upcoming years.

Competitive Outlook

The prominent companies thriving in the companion diagnostics market are Sysmex Corporation, Almac Group, Arup Laboratories, Biocartis, Abbott Laboratories, bioMerieux, GE Healthcare, Genomic Health, Danaher Corporation, Illumina Inc, Myriad Genetics, Qiagen, Roche Diagnostics, Thermo Fisher Scientific, and Agilent.

Abbott Laboratories is a pharmaceutical company engaged in developing and marketing healthcare products. It also offers diagnostic systems, neuro-modulation devices, medical devices, and other products. The company provides these products under multiple brand names, including Similar, Oxepa, Alinity, and FreeStyle, among others.

It offers products to consumers, wholesalers, retailers, healthcare facilities, government agencies, laboratories, and ambulatory surgery centers. Abbott operates across North America, Latin America, the Middle and Africa, and Asia-Pacific.

Key Topics Covered:

1. Global Companion Diagnostics Market - Summary

2. Industry Outlook
2.1. Impact of Covid-19 on the Companion Diagnostics Market
2.2. Key Insights
2.2.1. Commercial Success of Precision Medicine Treatment
2.2.2. Adoption of Predictive Biomarkers
2.2.3. Fusion of Computer Science and Biology
2.3. Porter's Five Forces Analysis
2.4. Key Buying Impact Analysis
2.4.1. Cost
2.4.2. Availability
2.4.3. Sensitivity & Specificity
2.4.4. Efficacy
2.5. Market Attractiveness Index
2.6. Vendor Scorecard
2.7. Industry Components
2.8. Regulatory Framework
2.9. Key Market Strategies
2.9.1. Acquisitions
2.9.2. Product Launches
2.9.3. Contracts & Agreements
2.10. Market Drivers
2.10.1. Increase in Incidence of Medication Reactions
2.10.2. Increasing Prevalence of Cancer Cases and Fatalities
2.10.3. Rising Prevalence of Precision Medicines
2.11. Market Challenges
2.11.1. Weak Reimbursement Framework
2.11.2. Common Cases of Leakage in Oncology Companion Diagnostics
2.12. Market Opportunity
2.12.1. Ongoing Research and Investments in Next Generation Gene-Sequencing

3. Global Companion Diagnostics Market Outlook - by Mechanism
3.1. In-Situ Hybridization
3.2. Polymerase Chain Reaction
3.3. Immunohistochemistry
3.4. Next Generation Sequencing
3.5. Other Mechanisms

4. Global Companion Diagnostics Market Outlook - by Indicator
4.1. Oncology
4.2. Neurology
4.3. Infectious Diseases
4.4. Other Indicators

5. Global Companion Diagnostics Market Outlook - by Consumer
5.1. Pharmaceutical and Biopharmaceutical Companies
5.2. Reference Laboratories
5.3. Other Consumers

6. Global Companion Diagnostics Market Outlook - by Commodity
6.1. Assay Kits and Reagents
6.2. Software and Services

7. Global Companion Diagnostics Market - Regional Outlook

8. Competitive Landscape
8.1. Abbott Laboratories
8.2. Almac Group
8.3. Arup Laboratories
8.4. Biocartis
8.5. Biomerieux
8.6. Danaher Corporation
8.7. GE Healthcare
8.8. Genomic Health
8.9. Illumina Inc
8.10. Myriad Genetics
8.11. Qiagen
8.12. Roche Diagnostics
8.13. Sysmex Corporation
8.14. Thermo Fisher Scientific
8.15. Agilent

9. Research Methodology & Scope

For more information about this report visit https://www.researchandmarkets.com/r/xqrlfn-companion?w=5

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