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The global companion diagnostics market size reached US$ 5.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 11.7 Billion by 2027, exhibiting a growth rate (CAGR) of 14.78% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Companion diagnostics refer to a combination of tests and therapies that provide essential information about corresponding therapeutic products to deliver safe and effective medical care. These diagnostics also offer an in-depth understanding of disease biology and the mechanism of action (MOA), which help healthcare professionals determine the potential side effects or risks of a therapeutic product on the patient. At present, companion diagnostics are extensively utilized in oncology to deliver targeted therapies and personalized medicines to patients.
The growing prevalence of cancer, in confluence with the escalating demand for in-vitro diagnostics and targeted therapies, represents one of the key factors impelling the global companion diagnostics market growth. Apart from this, personalized healthcare (PHC) and precision medicine are also gaining traction in the treatment of cardiovascular, neurological, infectious and inflammatory diseases, which, in turn, is bolstering the growth of the market. Furthermore, the escalating demand for next-generation sequencing (NGS), the rising number of clinical trials and the increasing focus on the co-development of drugs and diagnostic technologies are contributing to the market growth. The introduction of new biomarkers, rising approvals of companion diagnostics and increasing collaboration between companies to develop novel companion diagnostic products are some of the other factors positively influencing the market growth. Currently, due to the spread of the coronavirus disease (COVID-19), diagnostic service providers are providing test services to healthcare providers. They are also utilizing companion diagnostics to detect the efficacy of COVID-19 drugs among patients undergoing oncology therapies.
IMARC Group provides an analysis of the key trends in each sub-segment of the global companion diagnostics market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product & service, technology, indication and end user.
Breakup by Product & Service:
Breakup by Technology:
Breakup by Indication:
Breakup by End User:
Breakup by Region:
The report has also analysed the competitive landscape of the market with some of the key players being Abbott Laboratories, Agilent Technologies, BioMerieux, Danaher Corporation, Roche Holding AG, Myriad Genetics Inc., Siemens Healthcare and Thermo Fisher Scientific Inc.
|Base Year of the Analysis||2021|
|Segment Coverage||Product & Service, Technology, Indication, End User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Abbott Laboratories, Agilent Technologies, BioMerieux, Danaher Corporation, Roche Holding AG, Myriad Genetics Inc., Siemens Healthcare and Thermo Fisher Scientific Inc.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
The global companion diagnostics market was valued at US$ 5.0 Billion in 2021.
We expect the global companion diagnostics market to exhibit a CAGR of 14.78% during 2022-2027.
The sudden outbreak of the COVID-19 pandemic has led to the rising deployment of companion diagnostics to detect the efficacy of the coronavirus drugs among patients undergoing oncology therapies.
The growing prevalence of cancer, along with the increasing demand for companion diagnostics to deliver targeted therapies and personalized medicines to the patients, is primarily driving the global companion diagnostics market.
Based on the product & service, the global companion diagnostics market has been segregated into assays, kits and reagents and software and services. Currently, assays, kits and reagents hold the largest market share.
Based on the technology, the global companion diagnostics market can be divided into immunohistochemistry (IHC), polymerase chain reaction (PCR), in-situ hybridization (ISH), real-time PCR (RT-PCR), gene sequencing, and others. Among these, polymerase chain reaction (PCR) exhibits a clear dominance in the market.
Based on the indication, the global companion diagnostics market has been segmented into cancer, neurological diseases, infectious diseases, cardiovascular diseases, and others, where cancer currently accounts for the majority of the total market share.
Based on the end user, the global companion diagnostics market can be bifurcated into pharmaceutical & biopharmaceutical companies, reference laboratories, contract research organizations, and others. Currently, pharmaceutical & biopharmaceutical companies hold the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global companion diagnostics market include Abbott Laboratories, Agilent Technologies, BioMerieux, Danaher Corporation, Roche Holding AG, Myriad Genetics Inc., Siemens Healthcare, and Thermo Fisher Scientific Inc.
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