Jersey City, New Jersey, Dec. 12, 2022 (GLOBE NEWSWIRE) -- Verified Market Research® recently published a report, “Companion Diagnostics Market” By Technology Type (Frequency Immunohistochemistry, Polymerase Chain Reaction (PCR), Next Generation Sequencing (NGS)), By Indication (Oncology, Neurology), and By Geography.
As per the deep research carried out by Verified Market Research®, the global Companion Diagnostics Market size was valued at USD 4,009.99 Million in 2021 and is projected to reach USD 12,150.01 Million by 2030, growing at a CAGR of 13.11% from 2023 to 2030.
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Browse in-depth TOC on “Companion Diagnostics Market”
202 - Pages
126 – Tables
37 – Figures
Global Companion Diagnostics Market Overview
Companion diagnostics are often used along with the primary therapeutic agents to evaluate their effects on the body. Companion diagnostics are developed along with the therapeutic agent with which they are used. It helps the healthcare professional to understand the efficacy of therapy in a selected group of patients. It helps in identifying which patients will respond positively to the therapeutic agents and which patients will respond adversely. Based on this data, the physician can identify whether to prescribe that drug to the patient in concern or not. Through such practices, the side effects, risks, and benefits of any drug can be managed effectively.
As the field of genetics and genetic engineering is growing rapidly, the idea of personalized medicine is getting more common. Based on a person's genetic traits, it is now possible to offer the right medicine to the right person at the right time. Many pharmaceutical and biopharmaceutical companies are developing targeted drug therapies as a part of a patient-centric drug development approach. Many third-party companion diagnostic services offer such services to companies with a higher financial burden. Because of this, the challenge of high initial costs has been addressed effectively. These factors collectively are expected to grow the market for companion diagnostics during the forecast period.
NGS-based companion diagnostic tests seek to extract molecular information from each patient’s tumor genome to guide cancer therapy decisions. When compared to other sequencing techniques, next-generation sequencing detects many biomarkers for multiple medication regimens in a quicker time frame. The use of NGS panels for biomarker evaluation in a single test has the potential to aid in the treatment of numerous malignancies.
Verified Market Research® narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The “Global Companion Diagnostics Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.
Key Players
The “Global Companion Diagnostics Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Abbott Laboratories Molecular, Inc., Agilent (Dako Denmark A/S), ARUP Laboratories, Inc., BioMerieux, Danaher Corporation (Leica Microsystems), Foundation Medicine, Inc., Myriad Genetics, Inc., Roche (Ventana Medical Systems, Inc), Thermo Fisher Scientific (Life Technologies Corporation), QIAGEN N.V.
Based on the research, Verified Market Research® has segmented the global Companion Diagnostics Market into Technology Type, Indication, and Geography.
- Companion Diagnostics Market, by Technology Type
- Frequency Immunohistochemistry
- Polymerase Chain Reaction (PCR)
- Next Generation Sequencing (NGS)
- In Situ Hybridization
- Others
- Companion Diagnostics Market, by Indication
- Oncology
- Neurology
- Others
- Companion Diagnostics Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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