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Global Companion Diagnostic Market By Technology (Nanostring Technology, Next-Generation sequencing, In-Situ Hybridization, Immunohistochemistry and Others), By Products (Devices, Kits and Assay), By Indication (Oncology, Respiratory, Orthopedics and Others), By End-User (Pharmaceutical & Biotechnology Companies, Research Laboratories, Contract research organization and others), By Application (Drug Discovery, In-Vitro diagnostics and Others), By Region, Competition, Forecast & Opportunities, 2025
Global companion diagnostic market size was valued at USD3 billion in 2019 and projected to grow at an impressive CAGR during the forecast period.The key factor responsible for the growth of companion diagnostic market is growing cases of cancer across the globe.
Additionally, increase in requirement for targeted therapy is another major factor which is anticipated to bode well for the growth of companion diagnostic market in the coming years. Moreover, rising number of clinical trials is further anticipated to bolster the market growth until 2025. The global companion diagnostic market is segmented based on technology, products, indication, end-user, application, and region.Based on end user, the market can be segmented into pharmaceutical & biotechnology companies, research laboratories, contract research organization and others.
Out of which, the pharmaceutical & biotechnology companies dominated the market in terms of largest market share until 2019 and is further anticipated to be the fastest-growing application segment in the companion diagnostic market during the next five years as well.This growth can be accredited to widespread use of companion diagnostics in such industries because of their increasing stronghold in drug development sector as well as growing importance of companion diagnostic biomarkers.
Additionally, surge in requirement for personalized medicines coupled with high demand for targeted therapies for treatment of multiple diseases and disorders is further boosting the growth of the segment across the globe. Major players operating in the global companion diagnostic market include NG Biotech, Agilent Technologies, Illumnia, Qiagen, Thermo Fisher Scientific, Roche, Molecular MD, Myriad Genetics, Foundation Medicine, Bayer, Genentech, Abbott, Novartis, Perkin Elmer, Luminex Corporation, Parexel, Quest Diagnostics, Genesys Diagnostics, Danaher, Siemens Healthcare, Biomerieux SA and others.The companies operating in global companion diagnostic market are focussing towards expanding their share in the market.
For instance, these key players are making organic strategies such as new product launches & approvals, among others in order to enrich their consumer base.
• To analyse and forecast the market size of global companion diagnostic market. • To classify and forecast global companion diagnostic market based on technology, products, indication, end-user, application, company and regional distribution. • To identify drivers and challenges for global companion diagnostic market. • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global companion diagnostic market. • To conduct pricing analysis for global companion diagnostic market. • To identify and analyse the profile of leading players operating in global companion diagnostic market. The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of hospitals/clinics across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the hospitals/clinics which could not be identified due to the limitations of secondary research. The analyst examined the new products, technologies and presence of all major players across the globe. The analyst calculated the market size of global companion diagnostic market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Companion diagnostic hospitals/clinics, research institutes and other stakeholders • Government bodies such as regulating authorities and policy makers • Organizations, forums and alliances related to companion diagnostic • Market research and consulting firms The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as hospitals/clinics and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global companion diagnostic market has been segmented into following categories, in addition to the industry trends which have also been detailed below: • Market, By Technology: o Nanostring Technology o Next-Generation sequencing o In-Situ Hybridization o Immunohistochemistry o Others • Market, By Products: o Devices o Kits o Assay • Market, By Indication: o Oncology o Respiratory o Orthopedics o Others • Market, By End-User: o Pharmaceutical & Biotechnology Companies o Research Laboratories o Contract research organization o Others • Market, By Application: o Drug Discovery o In-Vitro diagnostics o Others • Market, By Region: o North America - United States - Mexico - Canada o Europe - Germany - France - United Kingdom - Italy - Spain o Asia-Pacific - China - India - Japan - South Korea - Australia o Middle East and Africa - South Africa - Saudi Arabia - UAE o South America - Brazil - Argentina - Colombia
Company Profiles: Detailed analysis of the major companies present in global companion diagnostic market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
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