Companion Diagnostics Market Production Analysis and Geographical Market Performance Forecast to 2028 | Abbott, Danaher Corporation, Invivoscribe

According to the latest report by Quince Market Insights, the Companion Diagnostics Market is projected to register high demand during the forecast period with increasing demand from major technology such as Polymerase Chain Reaction (PCR), Immunohistochemistry (IHC), In Situ Hybridization (ISH), and Next-Generation Sequencing (NGS) during the forecast period. In the era of drug precision, the healthcare industry is focused on the progress of advanced biomarker-based diagnostics to deliver enhanced treatment outcomes and better patient care. Companion diagnostics play a particularly important role in market access and clinical development in this respect. Companion diagnostics help determine whether a given drug and dosage will benefit the patient. These tests help in identifying the right treatment at the right time for the patient.

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Even properly prescribed drugs cause about 1.9 million hospitalizations per year and around 128,000 people die from prescribed drugs, according to Harvard University. Thus effective drugs are needed. The market for the companion diagnostics is assured of exponential growth due to such requirements.

The growth of the global diagnostic companion market may be attributed to the increasing focus on the co-developmentof diagnostic technologies. In addition, the need for companion diagnostics is driven by the escalating cases of drug adversity. Companies have worked together for better diagnoses and biomarkers. As a result, its application base has been increasing in indications such as cardiovascular, oncological, neurological and other disorders.

Segmentation for better understanding of this market and its growth prospects:

Based on technology, the companion diagnostics market is segmented into Polymerase Chain Reaction (PCR), Immunohistochemistry (IHC), In Situ Hybridization (ISH), Next-Generation Sequencing (NGS), and others. The healthcare business has observed numerous positive methods for parallel treatment development and its diagnostic companion mainly for oncology. On the other hand, the marketing of oncology treatment companion diagnostics has drawn the attention of several diagnostic and pharmaceutical companies to enter this market through the development of CDx solutions for non-oncology indications.

Based on indication, the market has been segmented into Oncology diseases (lung cancer, breast cancer, colorectal cancer, stomach cancer, leukemia, melanoma, others), and non-oncology diseases. Based on product type, the market has been divided into assay kits and reagents. The companion diagnostics market has been studied for North America, Eastern Europe, Western Europe, Asia Pacific, Middle East, and Rest of the World. An increasing number of chronic diseases and augmentation in healthcare are some other factors driving the market.

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Significant Factors Impacting Market Growth:

o Companion diagnostics reduce healthcare cost
o Companion diagnostics support personalized therapies
o Offer a mechanism to collect meaningful data
o Holds potential to help and improve drug development

Regional distribution and analysis to understand growth patterns:

North America, Western Europe, and the Asia Pacific by region are estimated to dominate the companion diagnostics market during the forecast period. These regions were the market leaders in terms of technological developments and advanced medical treatments for the overall healthcare sector. In addition, government policies were favorable to the growth of health-care infrastructure in these regions. North America and Western Europe have an established healthcare infrastructure for product innovations and early adaptations. This is expected to drive the demand for companion diagnostics market during the forecast period.

The US, Germany, France, UK, Canada, and Spain have been some of the major markets in the region. Asia Pacific is estimated to register one of the highest CAGR for the companion diagnostics market during the forecast period. This region has witnessed planned investments by global companies to cater to the growing demand in recent years. China, Japan, India, South Korea, and Australia are amongst some of the key countries for the companion diagnostics market in the region. Other regions including the Middle East, Eastern Europe, and Rest of the World (South America and Africa) are estimated to be emerging markets for the companion diagnostics market during the forecast period.

Companies Covered: Abbott Laboratories, Danaher Corporation, bioMérieuxS.A, ARUP Laboratories, F. Hoffmann-La Roche AG, MolecularMD Corporation, Invivoscribe Technologies, Inc., QIAGENN.V, Thermo Fisher Scientific Inc., and Myriad Genetics, Inc.

Market Segmentation:

By Technology:

Polymerase Chain Reaction (PCR)
Immunohistochemistry (IHC),
In Situ Hybridization (ISH)
Next-Generation Sequencing (NGS)
Others

By Indication:

Oncology Diseases
Lung Cancer
Breast Cancer
Colorectal Cancer
Stomach Cancer
Leukemia
Melanoma
Others
Non-Oncology Diseases

By Product Type

Assay kit
Reagents 

By Region:

North America
By Country (US, Canada, Mexico)
By Technology
By Indication
By Product Type
Western Europe
By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
By Technology
By Indication
By Product Type
Eastern Europe
By Country (Russia, Turkey, Rest of Eastern Europe)
Technology
By Indication
By Product Type
Asia Pacific
By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
Technology
By Indication
By Product Type
Middle East
By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
Technology
By Indication
By Product Type
Rest of the World
By Region (South America, Africa)
By Technology
By Indication
By Product Type

Reasons to Buy This Report:

Market size estimation of the companion diagnostics market on a regional and global basis
The unique research design for market size estimation and forecast
Profiling of major companies operating in the market with key developments
Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:
By Segment
By Sub-segment
By Region/Country

Contact:
Quince Market Insights
Ajay D. (Knowledge Partner)
Office No- A109,
Pune, Maharashtra 411028
Phone: +91 - 9850603687 / 7972869557
Email: sales@quincemarketinsights.com
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This release was published on openPR.