Companion Diagnostics Market Set to Grow at 20.1% CAGR and to Reach US$ 6.51 Billion by 2022 Dominated by Pharmaceutical and Biopharmaceutical Companies

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Key factors driving growth of Companion Diagnostics market include increasing lung cancer cases, growing number of genetic testing, rising need for personalized medicines, and regulatory guidelines that support global market. Top-down and bottom-up approaches were used to validate size of the global companion diagnostics market and estimate the size of other dependent submarkets.

The global companion diagnostics market is projected to reach USD 6.51 billion by 2022 from USD 2.61 billion in 2017, at a CAGR of 20.1%. Growth of this market is majorly driven by factors like improvements in regulatory guidelines, growing need for targeted therapies, rising cancer incidence across globe, and increasing collaborations & partnerships for companion diagnostics test development.

Target Audience:
• Pharmaceutical and biotechnology companies
• Diagnostic manufacturers
• Research laboratories and academic institutes
• Research and development (R&D) companies
• Clinical research organizations (CROs)

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Some of the major market players in the companion diagnostics market are F. Hoffmann-La Roche AG (Switzerland), Agilent Technologies, Inc. (U.S.), and QIAGEN N.V. (Netherlands) dominated the global companion diagnostics market. Some of the other players competing in this market are Thermo Fisher Scientific Inc. (U.S.), Abbott Laboratories, Inc. (U.S.), Myriad Genetics, Inc. (U.S.), Danaher Corporation (U.S.), Almac Group (U.S.), and Sysmex Corporation (Japan).

The report analyzes the companion diagnostics market and aims at estimating market size and future growth potential of this market based on various segments such as product and service, type of medical device, application, and region. The report also includes an in-depth regulatory analysis for various regions across the globe and competitive analysis of the key players in this market along with their company profiles, product and service offerings, recent developments, and key market strategies.

Companion Diagnostics Market, By Technology
1 Introduction
2 Polymerase Chain Reaction
3 Immunohistochemistry
4 In Situ Hybridization
5 Next-Generation Sequencing

Companion Diagnostics Market, By End User
1 Introduction
2 Pharmaceutical and Biopharmaceutical Companies
3 Reference Laboratories
4 Other End Users

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Companion diagnostics market is further categorized into oncology, infectious diseases, neurology, and other indications (including cardiovascular, inflammatory, and inherited diseases). In 2016, the oncology segment accounted for the largest share and is also the fastest growing segment of the market; this is primarily attributed to the growing incidence of cancer that enhanced the focus on cancer research and also broadened the role of companion diagnostics in this field.

North America held the largest share of the global companion diagnostics market in 2016, while Asia-Pacific is expected to witness the highest growth during 2017 to 2022. Growing need for tailored therapeutics by the elderly population, increasing number of hospitals and diagnostic laboratories, and growing prevalence of life-threatening diseases are driving the growth of the companion diagnostics market in the Asia-Pacific region.

Break of primary participants was as mentioned below:
1 By Company Type – Tier 1–45%, Tier 2–34%, and Tier 3–21%
2 By Designation– C-level–14%, Director Level–10%, and Others–76%
3 By Region – North America–40%, Europe–32%, Asia-Pacific–20%, and RoW–8%

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