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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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