Dallas, Texas, June 22, 2020 (GLOBE NEWSWIRE) -- The “Global Companion Diagnostics Market Size 2018, By Products & Services (Assays, Kits & Reagents, Software & Services), By Technology (Polymerase Chain Reaction (PCR), Next-Generation Sequencing (NGS), In Situ Hybridization (ISH), Immunohistochemistry (ICH), Others), By Application (Cancer, Cardiovascular Diseases, Infectious Diseases, Neurological Diseases, Others), By Region and Forecast 2019 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
Adroit Market Research report on global companion diagnostics market gives a holistic view of the market from 2015 to 2025, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for historic years from 2015 to 2017, with the base year of estimation as 2018 and forecast from 2019 to 2025. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market based on Porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global companion diagnostics market have been studied in detail.
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The global companion diagnostics market is projected to reach an approximate value of USD 9.2 billion by 2025, growing at a CAGR of 14.2%. Increasing demand for personalized medicine, rise in incidence of cancer, increasing investments in R&D for the development of biomarkers and companion diagnostics tests are factors driving the global companion diagnostics market.
Companion diagnostics (CDx) are tests that are developed alongside drugs in the drug development process in order to determine whether or not the patient is a candidate for the particular therapy. Such tests are increasingly found in the oncology field where the use of very expensive therapies is at stake. There is rapid adoption of companion diagnostic tests in clinical laboratories owing to increase in collaborations between pharmaceutical and diagnostic companies for the development of companion diagnostic tests, which is likely to escalate the growth of the market. For instance, EGFR for lung cancer, KRAS for colon cancer, BCR-ABL for chronic myelogenous leukemia and BRAF for melanoma are some of the major companion diagnostic tests available in the market for tumor detection.
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The global companion diagnostics market has been segmented based on products & services, application, technology, and region. Based on products & services, the global companion diagnostics market is categorized into assays, kits & reagents, and software & services. On the basis of application, the global companion diagnostics market is segmented into cancer, neurological diseases, infectious diseases, cardiovascular diseases, and others. Cancer held majority of the market share in 2018. Technology-wise, the global companion diagnostics market is segregated into polymerase chain reaction (PCR), next-generation sequencing (NGS), immunohistochemistry (ICH), in situ hybridization (ISH), and others.
Geographically, North America dominated the global companion diagnostics market in 2018. Wide availability of companion diagnostics tests and services, favourable reimbursement scenario, increase in volume of clinical trials and drug approval rates, presence of well-established healthcare facilities, and high prevalence of cancer in the region are key factors likely to drive the growth of the market in the next few years.
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Major players operating in the global companion diagnostics market include Qiagen N.V., F. Hoffmann-La Roche, Agilent Technologies Inc., Pfizer, Abbott Laboratories, AstraZeneca, Thermo Fisher Scientific, bioMérieux SA, Myriad Genetics, and Illumina, Inc. among others.
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Major points from Table of Contents:
1. Introduction
2. Research Methodology
3. Market Outlook
4. Companion Diagnostics Market by Products & Services, 2015-2025 (USD Million)
5. Companion Diagnostics Market by Application, 2015-2025 (USD Million)
6. Companion Diagnostics Market by Technology, 2015-2025 (USD Million)
7. Companion Diagnostics Market by Region, 2015-2025 (USD Million)
8. Competitive Landscape
9. Company Profiles
10. Appendix
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