Companion Diagnostic Market Expected to Boost the Global Industry by 2023

A companion diagnostic device is a special type of invitro medical device that provides information, which is necessary for the effective and safe use of an analogous drug or biological product. Companion diagnostics are developed simultaneously with drugs to help include or exclude a certain group of patients for treatment with a particular drug based on their biological characteristics, which determines patients who respond and those who dont respond to the therapy. The factors that fuel the growth of the global companion diagnostic market are improvements in regulatory guidelines, growing need for patient specific therapies, and increasing incidence of cancer worldwide. However, uncertain reimbursement policies restrain the market growth. The increasing number of clinical trials to boost the adoption of companion diagnostics can prove as an opportunity for the market growth.

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The market is segmented on the basis of product, technology, indication, end users, and region. Based on product, the market is segmented into assay kits and reagents. Based on technology, the market is classified into polymerase chain reaction, immunohistochemistry, in situ hybridization, next-generation sequencing, and other technologies. Based on indication, the market is segmented into oncology, neurology, infectious diseases, and other indications. Oncology is further divided into breast cancer, lung cancer, colorectal cancer, melanoma, gastric cancer, and other cancers. Based on end user, the market is segmented into pharmaceutical & biopharmaceutical companies, laboratories, and other. Based on region, it has been analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key players that operate in the market are Abbott Laboratories, Agilent Technologies, Danaher Corporation, Illumina Inc., Myriad Genetics, Inc., Qiagen, F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific, Inc., Sysmex Corporation, and Novartis AG.

Key Benefits

• The study provides an in-depth analysis of the global companion diagnostic market with current trends and future estimations to elucidate imminent investment pockets.
• It presents a quantitative analysis from 2016 to 2023 to enable stakeholders to capitalize on prevailing market opportunities.
• Key players have been profiled and their strategies thoroughly analyzed, which predicts the competitive outlook of the market.
• Extensive analysis of the market by devices helps understand the availability of various forms of companion diagnostic technologies in the market.
• By region, the market has been analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Companion Diagnostic Market Key Segments:

By Product

• Assay Kits
• Reagents

By Technology

• Polymerase Chain Reaction
• Immunohistochemistry
• In Situ Hybridization
• Next-Generation Sequencing
• Other Technologies

By Indication

• Oncology

o Breast Cancer
o Lung Cancer
o Colorectal Cancer
o Melanoma
o Gastric Cancer
o Other Cancers

• Neurology
• Infectious diseases
• Other indications

By End User

• Pharmaceutical & Biopharmaceutical Companies
• Laboratories
• Other

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