Press Release
Press Release
As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
According to a new report by EMR titled, ‘Global Companion Diagnostics Market Report and Forecast 2021-2026’, the global companion diagnostics market stood at a value of around USD 2.1 billion in 2020. The industry is further expected to grow at a CAGR of 26% between 2021 and 2026 to attain a value of USD 8.4 billion by 2026.
The global companion diagnostics market is being driven by the rapid advancement in the field of drug and diagnostic technologies and the growing consumer preference for personalised medicines. The growing incidences of infectious diseases and cancer are supporting the industry further. The polymerase chain reaction or PCR segment, among other technologies, dominated the global industry owing to its cost-effectiveness, and high specificity and sensitivity, further making it useful for simple automated platforms. The North America dominated the industry, within which the United States served as the major contributor to the industry.
The increasing investment in industry-leading capabilities and R&D to accelerate innovation and address emerging healthcare needs is aiding the growth of the global companion diagnostics market further. In March 2021, Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, and QIAGEN N.V. (NYSE: QGEN), a leading global provider of molecular diagnostics and sample preparation technologies, unanimously approved Thermo Fisher’s proposal to acquire QIAGEN for €39 per share in cash, expanding specialty diagnostics portfolio with attractive molecular diagnostics capabilities, including infectious disease testing, and complementing leading life sciences offering with innovative solutions and technologies. Further, the recent outbreak of coronavirus in China, which is spreading quickly across the globe, is leading manufacturers to offer quick solutions. QIAGEN is quickly responding and providing solutions to restrict the spread of the coronavirus and in February 2021, the company announced worldwide shipments of QIAstat-Dx test kits to detect novel coronavirus SARS-CoV-2, as this newly developed QIAstat-Dx Respiratory Panel test kits can quickly differentiate novel coronavirus from 21 other pathogens implicated in serious respiratory syndromes. Such developments are expected to further aid the growth of the global companion diagnostics market over the forecast period.
Market Breakup by Product and Service, End Use, Technology, Indication, and Region:
Key Findings of the Report:
Key Offerings of the Report:
The major players in the global companion diagnostics market are F. Hoffmann-La Roche AG, Agilent Technologies, Inc., Qiagen N.V., Thermo Fisher Scientific Inc., Abbott Laboratories, Inc., Biomérieux SA, Danaher Corporation, Illumina, Inc., and Myriad Genetics, Inc, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
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