Global Companion Diagnostics Market Global :Demand Analysis & Opportunity Outlook 2022 :Top keyplayers are Agilent Technologies, Inc. , QIAGEN N.V., Abbott Laboratories Inc., Oxford Biodynamics Limited, and Siemens Healthcare

Description

The Global Companion Diagnostics Market was valued at US$ XX billion in 2016 and is expected to grow at around XX% CAGR to reach nearly US$ XX billion by 2022. A companion diagnostic is a medical device which can predict and monitor a patient's biological reaction to a corresponding drug or medicinal product. Increasing demand for personalized medicine has resulted in significant growth of the companion devices market. Companion diagnostics can be of different types like polymerase chain reaction, immunohistochemistry, in-situ hybridization test, gene sequencing, etc. Most companion diagnostics are being developed in the oncology domain although there are products in other areas also.

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End Users

In the current market, the end users of companion diagnostics are mainly patients with serious and difficult to treat medical conditions for which the effect of drugs is difficult to predict. However, with increasing demand for personalized medicine, it can be expected that, very soon, the end users will include patients with minor diseases who desire a personalized approach. Companion diagnostics are also being used by drug manufacturers in order to reduce drug research and testing costs.

Market Dynamics

One of the important growth drivers for the companion diagnostics market is the rising demand for personalised medicine. High prevalence of diseases like cancer, heart ailments, AIDS, etc where patient specific treatment may be required is driving up demand for companion diagnostics. Improvement in technology has enabled better products to be introduced in the market. The potential of companion diagnostics to reduce drug research and testing costs means that the market will see steady growth for the next few years. Increased partnerships between major drug developers and developers of companion diagnostics will help fuel further growth of the market.

The companion diagnostics market also faces some restraints such as lack of awareness in markets with growth potential, unclear regulations, and hesitation on the part of large drug manufacturers to pair their drugs with companion diagnostics. Hence firms in the market will have to generate awareness about their products and build ties with more drug manufacturers.

Market Segmentation

The market for companion diagnostics can be segmented based on type of technology used, type of disease being targeted, end users and geography. Based on type of technology used, companion diagnostics market can be segmented as polymerase chain reaction, immunohistochemistry, in-situ hybridization test, gene sequencing, etc. Based on type of disease being targeted, the market segments are oncology, cardiovascular diseases, neurology, infectious diseases, etc. Based on end users, the market can be divided as drug pharmaceuticals, hospitals and individual patients.

Regional/Geographic Analysis

Geographically, the companion diagnostics market can be divided into North America, Europe, Asia-Pacific (APAC), and Latin America, Middle East and Africa (LAMEA) regions. Currently North America accounts for the largest share of the market. However, there is considerable growth potential in the APAC region due to growing population and prevalence of diseases.

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Key Players

Some of the key players in the companion diagnostics market are Agilent Technologies, Inc. (U.S.), QIAGEN N.V. (Netherlands), Abbott Laboratories Inc. (U.S.), Oxford Biodynamics Limited, and Siemens Healthcare.

Report Contents Regional Analysis Report Highlights

Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market - Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players

North America
US and Canada

Latin America
Mexico, Brazil, Argentina and Rest of Latin America

Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe

Eastern Europe
Russia
Poland
Rest of Eastern Europe

Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific

Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

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Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage

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