Companion Diagnostics Market Anlysis with Inputs form Industry Experts 2018 to 2026 With Key Vendors Like Abbott Laboratories Inc., Agilent Technologies Inc., Danaher Corporation, GE Healthcare, Qiagen N.V., Roche Diagnostics

Pharmaceutical companies need to constantly innovate and integrate latest technological breakthroughs in order to sustain in the companion diagnostics market, given the looming threat of new technologies posing threat to existing product portfolio and research pipeline. Novartis AG focuses on R&D for biomarkers with the help of its partner SomaLogic, Inc., once they begin the process of finalizing the drug candidate. Such pre-work is now part of the routine of drug development, something that was an alien practice till around a decade ago. The U.S. FDA released a draft guideline for companion diagnostics in July 2016, providing a structure for the pharmaceutical companies to co-develop CDx test along with the drug therapies.

Download PDF Brochure of This Business Research Report : https://www.coherentmarketinsights.com/insight/request-pdf/109

The global companion diagnostics market was valued at US$ 1,614.5 million in 2015 and is expected to witness a robust CAGR of 12.0% during the forecast period (2016 – 2024).

Market Dynamics - Companion Diagnostics Market

Companion diagnostics are beneficial for pharmaceutical companies who face challenges with respect to high drug development cost, safety and outcome of clinical trials, and long product approval time. Companion diagnostics lowers development costs, improves time to market and enhances drug safety by enabling rapid identification of target biomarker and the most effective drug therapy. For patients, the technology provides better treatment outcomes and lower morbidity risk. Use of technologies such as PCR, immunohistochemistry, and gene sequencing has enabled accurate diagnosis and determination of targeted cancer therapy. As the CDx tests also aid in revealing the off-target effects of a drug along with identification of a molecular target, CDx have become and indispensable tool for oncologists.

Low Cost And Clinical Benefits Of Companion Diagnostics Is Expected To Drive Growth Of The Market

The ecosystem of pharmaceuticals industry is one of the major factors driving growth of the companion diagnostics market. The providers of healthcare products and services, and patients who utilize these products and services is expected to be benefitted by a collaborative approach. The innovation of CDx helped drug developers in reducing the development costs, developing highly effective therapeutic products, and improving the time to market by identifying the effectiveness of a drug against particular biomarkers. Moreover, better treatment outcomes and lower morbidity risk are benefits offered to the patients. Also, accurate diagnosis and determination of targeted cancer therapy has become much easier due to advanced technologies such as PCR, immunohistochemistry, and gene sequencing.

Competitive Analysis

Key companies covered as a part of this study include Abbott Laboratories, Inc., Agilent Technologies, Inc., Danaher Corporation, GE Healthcare, Qiagen N.V., Roche Diagnostics, Myriad Genetics, Inc., bioMérieux SA, Illumina, Inc. and Siemens Healthcare.

Request For Customization Of This Business Research Report : https://www.coherentmarketinsights.com/insight/request-customization/109

Market Taxonomy

This report segments the global companion diagnostics market on the basis of application, technology, and geography. On the basis of application, the market is categorized into breast cancer, lung cancer, colorectal cancer, gastric cancer, melanoma, and others. On the basis of technology, the market is segmented into immunohistochemistry, real-time PCR, gene sequencing, Fluorescence in situ hybridization (FISH), and others. For comprehensive understanding of market dynamics, the global companion diagnostics market is analyzed across key geographical regions namely North America, Europe, Asia Pacific, Latin America, Africa, and Middle East. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

Detailed Segmentation:

Global Companion Diagnostics Market, By Application:
Breast Cancer
Lung Cancer
Colorectal Cancer
Gastric Cancer
Melanoma
Others

Global Companion Diagnostics Market, By Technology:
Immunohistochemistry
Real-time PCR
Gene Sequencing
FISH
Others

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave, #3200
Seattle, WA 98154
Tel: +1–206–701–6702
Email: sales@coherentmarketinsights.com

This release was published on openPR.