Digital Companion Diagnostics Market Latest Innovations, Future Scope and Market Trends
Report Overview @
These tests aim at providing insights into the patient’s likely response pattern to a particular therapy, thereby enabling optimization of appropriate dosing concentrations and course of administration. The increasing importance of personalized medicine and commercialization of targeted therapeutics have driven the demand for companion diagnostics, which in turn is projected to observe a rise in trend of adoption by patients as well as health care service providers.
Companion diagnostics help in cost reduction for drug manufacturers by narrowing the target patient population who are likely to benefit from the targeted therapy. These tests enable physicians to rule out therapeutic options which are not likely to be as effective as a particular targeted drug, and thus eliminate the need for use of higher-priced cancer therapeutics and other unnecessary treatments.
Request Brochure @
The consideration of a defined patient population and resultant higher efficacy of targeted therapeutics further increase the chances of the drug’s approval and aid in streamlining of the drug development process (such as fasten the approval process). In addition, companion diagnostics are important to rule out the possibility of side effects and alleviate health care costs related to management of side effects.
The demand for personalized medicine has been on a rise since the significant development in genomics research and biomarkers. This can be attributed to the efficiency and target-specific nature of personalized medicine with better patient outcomes. In addition, the targeted therapies have minimal or no side effects compared to the conventional therapies.
With the paradigm shift in the drug discovery and development process, pharmaceutical companies are shifting their focus toward the development of novel targeted therapies (genotype or phenotype specific therapies). The adoption of this paradigm shift marked the gradual termination of traditional blockbuster model. Hence, these factors increase the demand and uptake of personalized medicine which in turn drives the growth of the companion diagnostics market.
Request Customization @
Increase in the number of cancer incidence, demand for personalized medicine, and reduction in drug development cost have contributed to augment the growth of the digital companion diagnostics market. However, poor reimbursement policies, and longer developmental and approval phase are factors that are restraining the growth of the market.
The market for digital companion diagnostics can be segmented on the basis of technology, disease indication, end-user, and geography. Based on technology, it is segmented into molecular diagnostics and immunohistochemistry. The molecular diagnostics segment is further sub-segmented into PCR, in situ hybridization, and next generation sequencing. This segment is anticipated to be a fast growing market due to advancement in technology, adoption of precise and accurate techniques by users, and reduction of cost and time associated with use of these methods.
Based on disease indication, the market is segmented into breast cancer, melanoma, lung cancer, colorectal cancer, and infectious disease. The breast cancer segment is estimated to hold a large market size during the forecast period. The major factors fueling growth of this market are rise in global incidence rates of breast cancer, shift toward development of targeted therapies, and increase in acceptance level of the test due to the enhanced specificity and efficiency.
Based on end-user, the market is segmented into hospitals, pharmaceutical companies, and laboratories. Based on geography, the market for digital companion diagnostics has been distributed over North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is estimated to dominate the market due to increase in health care expenditure and rise in demand for personalized treatment.
Key potential players operating in the digital companion diagnostics market are Qiagen N.V., Agilent Technologies, Inc., Agendia N.V., Life Technologies Corporation, GE Healthcare Ltd., Roche Holdings AG, Abbott Laboratories, and Genomic Health, Inc.
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
USA – Canada Toll Free: 866-552-3453
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Digital Companion Diagnostics Market Latest Innovations, Future Scope and Market Trends here
News-ID: 1871819 • Views: 109
More Releases from Transparency Market Research
Wearable EEG Devices Market: Growing incidences of Neurovascular Disorders is Dr …
According to new market research titled 'Wearable EEG Devices Market to 2027 - Global Analysis and Forecasts by Channel and Application.' The global wearable EEG devices market is expected to reach US$ 1,556.35 Mn in 2027 from US$ 745.05 Mn in 2018. The market is projected to grow with a CAGR of 8.7% from 2019-2027. The report provides trends prevailing in the global wearable EEG devices market and the factors
Decentralized Electricity Generation Market - Global Industry Analysis, Share, G …
Global Decentralized Electricity Generation Market: Overview With the increasing installation of smart grids and the rising number of electricity generation resources, the power generation industry has been undergoing a significant change over the recent past. The modification in the grid structure, which permits decentralization of electricity generation, is acting as the main driving force behind the substantial growth of the global market for decentralized electricity generation. The main objective of this research
Global Sucralose Market Outlook In The Developed And Emerging Industry
Sucralose Market Overview Sugar substitute market is witnessing an increasing demand driven by the increasing sales of various sugar substitutes such as natural sweeteners and artificial sweeteners. Sucralose, an artificial sweetener used as a sugar substitute is highly preferred by consumers owing to its zero calorie attribute. Though sucralose is 600 times sweeter than sugar but interestingly it is not identified as the carbohydrate by the human body. Sucralose has its
Flavored Syrup Market - Growth Powered with Latest Development Scenario & Influe …
Flavored Syrup Market Introduction Global syrup market is witnessing a significant demand generated by the food and beverage industry. Consumers' increasing preference for different and personalized flavors in food has driven the syrup manufacturers to produce a wide range of flavored syrups. Flavored syrups contain artificial or natural flavorings mixed along with sugar and water. Obtain Report Details @ https://www.transparencymarketresearch.com/flavored-syrup-market.html Increasing demand of flavored syrups especially among the consumers contributes to the
More Releases for Companion
Companion Diagnostics Market – Growth , Opportunities and Applications
Companion diagnostics are tests to understand which patient can be benefited from a certain drug or what dosage should be prescribed based upon patient’s clinical diagnosis, which provides evidence required for the successful and harmless use of an equivalent drug or biological product to treat the medical condition. These are medical instruments that support doctors to elect which treatment and dosage should be given to patients personalized to their necessity. Companion
A Smart Companion to your TV
Following HELLO’s very successful Kickstarter campaign (1339% funded), Solaborate is launching the new and improved HELLO 2 on Kickstarter, along with HELLO Touch TV, HELLO Creator Edition and 2 Gadget Extensions. A Smart Companion to your TV HELLO 2, like its predecessor, turns any TV into a video communication and collaboration device. HELLO 2 does everything users love about the original even better with Alexa support, home automation (Zigbee), and Android games,
Global Companion Diagnostics Market
The Global Companion Diagnostics (CDx) Market was valued at US$ 1,614.5 million in 2015 and is projected to expand at a CAGR of 12.0% during the forecast period (2016–2024), as highlighted in a new report published by Coherent Market Insights. Development of multiple biomarkers and targeted drug therapy is boosting research and development collaboration among the industry players. This is expected to improve the time to market for companion diagnostic (CDx) test
Global Farm & Companion Animal Health Market
Veterinary healthcare products include pharmaceuticals, nutrition (feed additives) and devices for both companion and livestock animals. Companion animals include pets such as dogs, cats and horses; although in recent years the market has expanded reasonably for avian pets, reptiles and exotic fish. The healthcare products have transformed the health and quality of life for millions of pets across the world. The greatest challenge of maintaining pets is seeking the keenness
Global Companion Diagnostics Market to Grow Globally
Companion diagnostic (CDx) is a diagnostic tool used to determine the suitability of a drug therapy to the patient. It has become a critical part of targeted cancer therapy that allows for development of personalized therapy can be developed and administered to the patient. Whole blood samples, tissues samples, or buccal samples are collected and tested for diagnosis and identification of targeted disease biomarker. CDx is usually utilized in identifying
Global Companion Diagnostics – Growth Companion for Personalized Medicine
Companion Diagnostics: Growth Companion for Personalized Medicine Personalized medicine is the new segment in discussion among healthcare experts around the globe. Also, encouragement from the regulatory bodies such as the FDA and EMEA in erms of providing a defined structure for companion diagnostic development is driving research activities in personalized medicine. Diagnosis at molecular level for each individual is of prime importance to identify the target biomarker before deciding the therapy.