Global Companion Diagnostics Market: By Product & Service: Assay Kits and Reagents, Software and Services; By Technology: Polymerase Chain Reaction, Immunohistochemistry, In Situ Hybridization, Next-Generation Sequencing, Other Technologies; By Indication: Oncology, Neurology; By End Use: Pharmaceutical and Biopharmaceutical Companies, Reference Laboratories, Other End Users; By Region: North America, Europe, Asia Pacific, Latin America, Middle East & Africa; Historical Production and Consumption (2015-2019); Production and Consumption Forecast (2020-2025); SWOT Analysis: Porter’s Five Forces Analysis: Competitive Landscape & Supplier Analysis : Events and Developments

Global Companion Diagnostics Market Key Insights:

Market Outlook

The global companion diagnostics market size stood at a value of USD 2.1 billion in 2019. The companion diagnostics market is expected to achieve USD 8.4 billion by 2025, growing at a CAGR of 26% between the forecast period of 2020 and 2025. 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.

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Properties and Applications

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.

The industry can be broadly categorised based on its end-use into:

• Pharmaceutical and Biopharmaceutical Companies 
• Reference Laboratories 
• Other

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:

• Oncology 
• Breast Cancer
• Lung Cancer
• Colorectal Cancer
• Melanoma
• Gastric Cancer
• Other Cancers
• Neurology 
• Infectious Diseases 
• Other Indications

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.

Market Analysis

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.

Competitive Landscape

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:

• 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

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.

Key Questions Answered in the Global Companion Diagnostics Market Report:

• How has the global companion diagnostics market performed in the previous years (2015-2019)?
• What is the forecast assessment of the industry for 2020-2025?
• What are the major drivers for the historical (2015-2019) and forecast (2020-2025) periods?
• What are the major constraints for the historical (2015-2019) and forecast (2020-2025) periods?
• What are the major demand indicators of the global industry?
• Who are the key manufacturers in the global companion diagnostics market?
• What is the degree of competition in the global industry?
• What are the major events and developments taking place within the industry globally?

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