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Companion Diagnostic Technologies Market Focusing On the Trends in Technology and Diagnosis of Various Indications Which Are Driving the Growth

02-06-2019 09:53 AM CET | Health & Medicine

Press release from: Allied Market Research

Companion Diagnostic Technologies Market

Companion Diagnostic Technologies Market

The World Companion Diagnostic Market is expected to reach $ 3.5 billion by 2020 and is expected to grow at an annual CAGR of 20% from 2014 to 2020.
Companion diagnostic (CD) is an in vitro diagnostic technique that provides information about the patient's response to a specific treatment. Companion diagnosis helps identify patients who can benefit from a particular treatment, resulting in better treatment outcomes and lower health care spending. CD can also help identify patient pools that are most responsive to treatment. Therefore, we exclude therapies that are not effective. It also reduces costs by protecting patients from side effects caused by ineffective therapy.

As the incidence of cancer increases and the side effects of drugs and personalized therapies increase, research and development efforts are under way to focus on the development of targeted therapies. The technological advances and discoveries of new biomarkers are also driving the growth of this market. However, coordinating co-diagnosis and therapeutic development is a challenge for this market. Nonetheless, significant investments have been made in the research and development of targeted therapies that require companion diagnostics due to increased cancer, cardiovascular disease, and central nervous system and which may be opportunities for growth in this market.

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Ten leading companies dealing in companion diagnostics have been profiled and are
• Qiagen
• Dako (Agilent Technologies)
• Roche
• Abbott Laboratories Inc.
• bioMerieux
• Ventana Medical Systems
• Myriad Genetics Inc.
• Leica Microsystems
• Resonance Health Ltd and Life Technologies.

The key strategy followed by majority of the companies is collaborations with pharmaceutical companies for developing companion diagnostics for their pipeline drugs.

The accompanying diagnostic diagnostics market is divided into oncology, cardiovascular, CNS, autoimmune & inflammation, virology and others. Currently, the vast majority of companion diagnostics are developed for cancer, so it is a major revenue generating segment in the entire CD display market. Companion diagnosis has been developed for breast cancer, lung cancer, colorectal cancer, stomach cancer and melanoma.

Companion diagnosis for breast cancer is the most common breast cancer incidence because of the increased incidence of breast cancer and the development of many companion diagnoses to detect HER / neu biomarkers for breast cancer. Currently, there is little or no accompanying diagnosis for cardiovascular disease, central nervous system conditions, inflammation and autoimmune diseases and viral diseases, and most of them are in the development stage. However, as more and more biomarkers are discovered, the development of new companion diagnostics will increase.

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The technology-specific companion diagnostic market is divided into immunohistochemistry and molecular diagnostics. Molecular diagnostics is the most preferred technology, and next-generation sequencing and real-time PCR are expected to drive growth in this market due to advances in these technologies. The market is followed by North America and Europe due to significant improvements in medical awareness, significant investment in research and development, and an increase in cancer and other disease incidence in the region. However, LAMEA is expected to increase at a significant rate due to the increased incidence of cancer in this region. There is also a growing awareness of medical care in the region. The use of companion diagnostics will therefore continue to increase.

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About Us:

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.


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