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The global companion diagnostics market size stood at a value of USD 7.37 billion in 2023. The companion diagnostics market is expected to achieve USD 19.54 billion by 2032, growing at a CAGR of 11.4% between the forecast period of 2024 and 2032.
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The companion diagnostics industry is anticipated to grow significantly during the forecast period due to an increase in R&D of targeted therapies for cancer, along with the increasing demand for personalised medicine.
A companion diagnostic is a medical in-vitro device that offers data for the secure and efficient use of a drug and determines its applicability to a specific person. This diagnostic test enables a medical specialist to determine whether a specific therapeutic product helps patients or not, outweighing any severe potential side effects or hazards. The industry can be divided based on its product and services into assay kits and reagents, and software and services.
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The industry can be broadly categorised based on its end-use into:
The industry can be divided based on its technology as polymerase chain reaction, immunohistochemistry, in situ hybridization, and next-generation sequencing, among others.
The industry can be divided based on indication as:
The EMR report looks into the regional companion diagnostics markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
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The increased popularity of personalised medicines, rising cases of adverse drug reactions (ADRs) and higher number of unmet needs for treating cancer are the driving factors, accelerating the growth of the companion diagnostics market. An increase in healthcare expenditure, globally, and technological advancements in diagnostic techniques are propelling the positive growth of the industry. With rising awareness, particularly in developing economies, along with the discovery of new biomarkers for diverse conditions, the industry is witnessing a further growth. The growth of the companion animal diagnostics market will also propel the growth of the overall companion diagnostics industry. The cases of cancer is expected drive the growth of the companion diagnostics industry in the oncology segment. The approval of companion diagnostics by government agencies like the FDA is expected to drive the growth of the industry. Unfavourable reimbursement policies in some countries may affect the companion diagnostics market growth during the forecast period.
The report presents a detailed analysis of the following leading companies in the global companion diagnostics market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
REPORT FEATURES | DETAILS |
---|---|
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product & Service, Technology, Indication, End Use, Region |
Breakup by Product & Service | Assay Kits and Reagents, Software and Services |
Breakup by Technology | Polymerase Chain Reaction, Immunohistochemistry, In Situ Hybridization, Next-Generation Sequencing, Other Technologies |
Breakup by Indication | Oncology, Neurology |
Breakup by End Use | Pharmaceutical and Biopharmaceutical Companies, Reference Laboratories, Other End Users |
Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
Companies Covered | F. Hoffmann-La Roche AG, Agilent Technologies, Inc., Qiagen N.V., Thermo Fisher Scientific Inc., Abbott Laboratories, Inc., Biomérieux SA, Danaher Corporation, Illumina, Inc., Myriad Genetics, Inc, Others |
Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Companion Diagnostics Market Analysis
8.1 Key Industry Highlights
8.2 Global Companion Diagnostics Historical Market (2018-2023)
8.3 Global Companion Diagnostics Market Forecast (2024-2032)
8.4 Global Companion Diagnostics Market by Product and Service
8.4.1 Assay Kits and Reagents
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Software and Services
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Companion Diagnostics Market by Technology
8.5.1 Polymerase Chain Reaction
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Immunohistochemistry
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 In Situ Hybridization
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Next-Generation Sequencing
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Other Technologies
8.6 Global Companion Diagnostics Market by Indication
8.6.1 Oncology
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.1.3 Breakup by Type
8.6.1.3.1 Breast Cancer
8.6.1.3.2 Lung Cancer
8.6.1.3.3 Colorectal Cancer
8.6.1.3.4 Melanoma
8.6.1.3.5 Gastric Cancer
8.6.1.3.6 Other Cancers
8.6.2 Neurology
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.2.3 Breakup by Type
8.6.2.3.1 Infectious Diseases
8.6.2.3.2 Other Indications
8.7 Global Companion Diagnostics Market by End Use
8.7.1 Pharmaceutical and Biopharmaceutical Companies
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Reference Laboratories
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Other End Users
8.8 Global Companion Diagnostics Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.8 Middle East and Africa
8.8.8.1 Historical Trend (2018-2023)
8.8.8.2 Forecast Trend (2024-2032)
9 North America Companion Diagnostics Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Companion Diagnostics Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Companion Diagnostics Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Companion Diagnostics Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Companion Diagnostics Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 F. Hoffmann-La Roche Ltd
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Agilent Technologies, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Thermo Fisher Scientific, Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Abbott Laboratories, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Illumina, Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Companion Diagnostics Market: Key Industry Highlights, 2018 and 2032
2. Global Companion Diagnostics Historical Market: Breakup by Product and Service (USD Million), 2018-2023
3. Global Companion Diagnostics Market Forecast: Breakup by Product and Service (USD Million), 2024-2032
4. Global Companion Diagnostics Historical Market: Breakup by Technology (USD Million), 2018-2023
5. Global Companion Diagnostics Market Forecast: Breakup by Technology (USD Million), 2024-2032
6. Global Companion Diagnostics Historical Market: Breakup by Indication (USD Million), 2018-2023
7. Global Companion Diagnostics Market Forecast: Breakup by Indication (USD Million), 2024-2032
8. Global Companion Diagnostics Historical Market: Breakup by End Use (USD Million), 2018-2023
9. Global Companion Diagnostics Market Forecast: Breakup by End Use (USD Million), 2024-2032
10. Global Companion Diagnostics Historical Market: Breakup by Region (USD Million), 2018-2023
11. Global Companion Diagnostics Market Forecast: Breakup by Region (USD Million), 2024-2032
12. North America Companion Diagnostics Historical Market: Breakup by Country (USD Million), 2018-2023
13. North America Companion Diagnostics Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Europe Companion Diagnostics Historical Market: Breakup by Country (USD Million), 2018-2023
15. Europe Companion Diagnostics Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Asia Pacific Companion Diagnostics Historical Market: Breakup by Country (USD Million), 2018-2023
17. Asia Pacific Companion Diagnostics Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Latin America Companion Diagnostics Historical Market: Breakup by Country (USD Million), 2018-2023
19. Latin America Companion Diagnostics Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Middle East and Africa Companion Diagnostics Historical Market: Breakup by Country (USD Million), 2018-2023
21. Middle East and Africa Companion Diagnostics Market Forecast: Breakup by Country (USD Million), 2024-2032
22. Global Companion Diagnostics Market Structure
The global companion diagnostics market attained a USD 7.37 billion in 2023.
The market is projected to grow at a CAGR of 11.4% in the forecast period of 2024-2032.
The major market drivers include advancements in diagnostic techniques, the increasing popularity of personalised medicines, the surging approvals of companion diagnostics by government agencies, the discovery of new biomarkers for diverse conditions, and rising cases of cancer.
Increase in healthcare expenditure, globally, and rising cases of adverse drug reactions (ADRs) are the key trends propelling the market growth.
North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are the major regions in the market.
The leading products and services of companion diagnostics are assay kits and reagents and software and services.
The major technologies of the product are polymerase chain reaction, immunohistochemistry, in situ hybridisation, and next-generation sequencing, among other technologies.
The significant indications of companion diagnostics are oncology and neurology.
The major end-use segments for the market include pharmaceutical and biopharmaceutical companies and reference laboratories, among other end users.
The major players in the market are F. Hoffmann-La Roche Ltd, Agilent Technologies, Inc., Thermo Fisher Scientific, Inc., Abbott Laboratories, Inc., and Illumina, Inc., among others.
The global companion diagnostics market attained a value of USD 7.37 billion in 2023 driven by the increasing popularity of personalised medicines. Aided by the increasing in healthcare expenditure, globally, and technological advancements in diagnostic techniques, the market is expected to further grow at CAGR of 11.4% in the forecast period of 2024-2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of products and services, the market is divided into assay kits and reagents and software and services. Based on the technologies, the industry can be segmented into polymerase chain reaction, immunohistochemistry, in situ hybridization, and next-generation sequencing, among other technologies. On the basis of indication, the market is bifurcated into oncology and neurology. Oncology is sub-divided into breast cancer, lung cancer, colorectal cancer, melanoma, and gastric cancer, among other cancers whereas neurology is further divided into infectious diseases and other indications. Based on end-use sector, the market can be categorised into pharmaceutical and biopharmaceutical companies and reference laboratories, among other end users. The major regional markets for the product are North America, Latin America, Europe, the Asia Pacific, and the Middle East and Africa. The key players in the above industry include 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.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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