PLEASANTON CA, Oct. 04, 2021 (GLOBE NEWSWIRE) -- Companion Diagnostics Market by Product (Kits & Reagents, Software & Services, Assay); by Indication (Cancer, Cardiovascular, Infectious Diseases, Neurological Diseases, Others); by End User (Pharmaceutical & Biopharmaceutical Companies, Reference Laboratories, Contract Research Organization, Others); by Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa): Global Forecasts 2021 To 2027 published by AllTheResearch, features an analysis of the current and future scenario of the global Companion Diagnostics Industry.
According to AllTheResearch's Analyst, The Global Companion Diagnostics Market is expected to reach USD 8.5 Billion by 2027, with a growing CAGR of 18.5%.
The report overview includes studying the market scope, leading players like F. Hoffmann-La Roche Ltd.,Agilent Technologies, Inc.,QIAGEN N.V.,Abbott Laboratories, Inc.,Almac Group,Danaher Corporation,Illumina, Inc.,bioMérieux SA,Myriad Genetics, Inc.,Sysmex Corporation,Thermo Fisher Scientific Inc,Abnova Corporation,Guardant Health, Inc,Icon Plc,Biogenex Laboratories, Inc., etc., market segments and sub-segments, market analysis by type, application, geography.
The report covers Leading Countries and analyses the potential of the global Companion Diagnostics industry, providing statistical information about market dynamics, growth factors, major challenges, and market entry strategy Analysis, opportunities, and forecasts. The biggest highlight of the report is to provide companies in the industry with a strategic analysis of the impact of COVID-19.
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The driving factors influencing the growth of companion diagnostics market include increase in demand for genetic therapies, rise in research and development facilities and growing prevalence for chronic diseases such as cancer. Moreover, rapid growth in healthcare spending in terms of government initiatives fuels the growth of the companion diagnostics market. Rise in demand for personalized medicines and precision medicines, rise in demand for innovative diagnostics procedures and increase in R&D infrastructure thrives the growth of companion diagnostics market.
The Global Companion Diagnostics Market Segmentation:
By Product Type
- Kits & Reagents
- Software & Service
- Assay
By Indication Type
- Cancer
- Infectious Diseases
- Cardiovascular Diseases
- Neurological Diseases
- Others
By End User
- Pharmaceutical & Biopharmaceutical Companies
- Reference Laboratories
- Contract Research Organization
- Others
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COVID-19 Impact on the Companion Diagnostics Market Analysis
Lately, early covid-19 diagnosis became important in the market to prevent spread of infection. The most commonly diagnostic test used was PCR. PCR gained huge importance during covid outbreak. In November 2020, TScan Therapeutics signed agreement with Qiagen to develop covid-19 immune response test to prevent the infection. Moreover, Roche developed highly effective & sensitive SARS-CoV-2 antibody test which would provide accurate and fast results. This introduction of diagnostic test kit created huge opportunity for other players in the companion diagnostics market for innovating more precise test across world.
Global Companion Diagnostics Market by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
North America held maximum market share in 2020 about 35% due to high prevalence of chronic diseases like cancer, growing demand for diagnostic procedures, and rise in research practices in terms of genomics and targeted therapy. Moreover, increase in death rate due to cancer in this region drives the demand for companion diagnostics market. Increase in government spending in healthcare, rise in disposable income and growing demand for genetic-based research fuels the growth of the companion diagnostics market across the globe.
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Recent News:
- Qiagen and Sysmex collaborated for the development and commercialization of cancer companion diagnostics to leverage Qiagen’s leadership and Sysmex’s Plasma Safe-SeqS technology for NGS in this field.
- LapCrop launched companion diagnostics test “therascreen” KRAS PCR Mutation analysis to identify small lung cancer who are eligible for treatment with LUMAKRAS developed by Amgen.
Table of Content
- Introduction
- Regulatory Landscape for Companion Diagnostics
- Companion Diagnostics Market by Product
- Companion Diagnostics Market by Indication
- Companion Diagnostics Market by End User
- Regional Analysis
- Competitive Scenario
- Key Global Players
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