Selbyville, Delaware, July 16, 2019 (GLOBE NEWSWIRE) --
The Companion Diagnostics Market revenue is set to rise from US$ 2 billion in 2018 to around US$ 6.5 billion by 2025, according to a 2019 Global Market Insights, Inc. report. Growing adoption of drug diagnostics co-development model to identify individual’s response to treatment options will augment companion diagnostics market growth. Companion diagnostics are being developed along with the drug and used to check its effectiveness as well as associated adverse reactions. Moreover, complementary diagnostic tests enable monitoring of drug response over the entire treatment course. They further provide access to person’s genetic, proteomic and metabolomics data resulting in better outcomes. Aforementioned advantages of drug diagnostic co-development will augment companion diagnostics market revenue.
Improving regulatory scenario that facilitates entry of products will render a significant positive impact on companion diagnostics market growth. Innovative products are being developed by players in the market to identify appropriate drug diagnostic combination. Regulatory bodies ensure that effective and safe drugs are available across the globe. In 2017, FDA approved 16 new drugs with companion diagnostics. Thus, FDA product approvals will further stimulate companion diagnostics manufacturers to develop new entities thereby boosting companion diagnostics market. However, high cost will hamper drug diagnostics co-development market growth to some extent.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/3972
Instruments segment was valued more than USD 1.2 billion revenue in 2018 and it is predicted to witness substantial growth over forthcoming years. Emphasis on R&D activities undertaken by industry players for development of innovative instruments that assist in accurate diagnosis will drive the segment. Technologically advanced instruments require less amount of media and reagents and delivers results in precise time. These instruments are used for multiple companion diagnostics test such as non-small cell lung cancer, melanoma, breast, colorectal and ovarian cancers. Aforementioned benefits of instruments and their wide range of applications will surge its demand in healthcare facilities.
Breast cancer application segment of companion diagnostics market is anticipated to witness around 19% growth in coming years. Increasing prevalence of breast cancers will augment demand for companion diagnostics for effective and accurate treatment. According to CDC, in 2016, 245,299 incidences of breast cancer were reported in the U.S. alone. Large patient pool will augment demand for companion diagnostics as standard drugs are not always effective in all patients. HER2 protein is associated with breast cancer and often used as biomarker. Thus, rising prevalence of cancer will increase demand for companion diagnostics, thereby driving segment growth.
Immunohistochemistry segment was valued around USD 500 million in 2018 and it is predicted to witness robust growth over forecast timeframe. Immunohistochemistry involves identification of antigens through antigen antibody binding principle. This technology further enables evaluation of drug contingency with significant accuracy. Effective results obtained with the usage of immunohistochemistry technology will augment its preference, thereby propelling immunochemistry technology segment growth.
Browse key industry insights spread across 110 pages with 101 market data tables & 9 figures & charts from the report, “Companion Diagnostics Market Size By Products (Instruments, Consumables, Services), By Disease Indication (Breast cancer, Lung cancer, Colorectal cancer, Skin cancer) By Technology (Immunohistochemistry, In Situ Hybridization, Polymerase Chain Reaction, Genetic Sequencing), By End-use(Hospitals, Diagnostic Laboratories) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, India, China, Japan, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Competitive Market Share & Forecast, 2019 - 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/companion-diagnostics-market
Diagnostic laboratories end user segment of companion diagnostics market is anticipated to witness around 19.5% CAGR over the forecast timeframe. Increasing government funding and growing awareness pertaining to advantages of early diagnosis will escalate number of diagnostics procedures. Additionally, these laboratories provide disease specific diagnostics for several types of cancers, that will prove beneficial for segment growth. Moreover, diagnostics laboratories incorporate technologically superior devices providing efficient results. Aforementioned factors will prove beneficial for segmental growth.
North America companion diagnostics market was valued around USD 800 million in 2018 owing to high disposable income and availability of developed healthcare infrastructure. Robust research activities aimed at development of targeted drugs and therapies will augment demand for companion diagnostics in the region. Demographic trends such as rising geriatric population susceptible to chronic disorders and consequent increase in disease prevalence will support the industry growth.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/3972
Notable industry players operational in companion diagnostics market share are Roche, Pfizer, Merck, Astra Zeneca, Bristol Myers Squibb, Amgen, Biogen, Eli Lilly, Myriad Genetics, Johnson & Johnson, Becton, Dickinson and Company and Abbott. The players are implementing strategic initiatives such as geographic expansions, product launches, collaborations, acquisitions and mergers to acquire potential market share. New product approvals will positively impact the industry. For instance, In January 2018, Myriad company received FDA agreement for BRACAnalysis CDx as companion diagnostic for Lynparza that is used for patients suffering from metastatic breast cancer. In June 2016, Roche company received FDA approval for cobas EGFR Mutation Test v2, used to identify patients suffering from metastatic non-small cell lung cancer.
Browse Related Reports:
1. Anti-snoring Treatment Market Size By Type (Device {Mandible Advancement Devices, Tongue Stabilizing Devices, Nasal Devices, Continuous Positive Airway Pressure (CPAP) Devices, Chin straps}, Surgery {Uvulopalatopharyngoplasty , Tonsillectomy, Pillar Procedure, Radiofrequency Palatoplasty}), By Distribution Channel (Hospitals, Clinics, Retail Pharmacies, E-Commerce), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, China, Japan, India, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Competitive Market Share & Forecast, 2019 – 2025
https://www.gminsights.com/industry-analysis/anti-snoring-treatment-market
2. Bone Growth Stimulators Market Size By Product (Bone Growth Stimulation Devices {External Bone Growth Stimulators [Combined Magnetic Field Devices, Capacitive Coupling Devices, Pulsed Electromagnetic Field Devices], Implanted Bone Growth Stimulators, Ultrasonic Bone Growth Stimulators}, Bone Morphogenetic Proteins, Platelet-Rich Plasma), By End-use (Hospitals, Ambulatory Surgical Centers), By Application (Spinal Fusion Surgeries, Delayed Union & Non-union Bone Fractures, Oral And Maxillofacial Surgeries), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, France, UK, Spain, Italy, China, India, Japan, Australia, Singapore, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Competitive Market Share & Forecast, 2019 – 2025
https://www.gminsights.com/industry-analysis/bone-growth-stimulators-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.