Global Companion Diagnostics Market Estimated to Gain $12740.68 Million by 2028

According to Triton's research report, the global companion diagnostics market attained $5314.48 million in 2021 and is estimated to advance at a CAGR of 12.84% by 2028.

A recent study by Triton Market Research titled 'Global Companion Diagnostics Market' comprises the Global Analysis and Forecasts by Consumer (Reference Laboratories, Pharmaceutical and Biopharmaceutical Companies, Other Consumers), Mechanism (Polymerase Chain Reaction, Next Generation Sequencing, In-Situ Hybridization, Immunohistochemistry, Other Mechanisms), Indicator (Neurology, Oncology, Infectious Disease, Other Indicators), Commodity (Software & Services, Assay Kits & Reagents), and Geography (Asia-Pacific, Middle East and Africa, North America, Europe, Latin America).

Companion diagnostics tests have emerged as an ideal solution to gain vital information about a drug's efficiency.

Request a Free Sample of the Global Companion Diagnostics Market Report @ https://www.tritonmarketresearch.com/reports/companion-diagnostics-market#request-free-sample?utm_source=PaidPRNew&utm_medium=OpenPR&utm_campaign=TritonPR

Triton's research report insinuates that the global companion diagnostics market is estimated to witness growth at a CAGR of 12.84% during the forecast years 2022-2028. It is projected to gain revenue worth $12740.68 million by 2028.

Here's a link to our Regional Reports Summary:
https://www.tritonmarketresearch.com/search-report/COMPANION+DIAGNOSTICS+MARKET

Factors such as increasing medication reactions and the high prevalence of cancer cases drive the companion diagnostics market globally. Companion diagnostics help classify patients expected to benefit from a drug, reducing unnecessary intake. This further lowers the cases of adverse side effects. As per estimates, around 2 million people experience side effects from pharmaceutical drugs in the US. Thus, the rising cases of adverse drug reactions are estimated to boost the market.

In contrast, the lack of reimbursement policies and leakage in oncology companion diagnostics negatively impact the companion diagnostics market.

The companion diagnostics market is segmented into consumer, mechanism, indicator, and commodity. The consumer section is divided into reference laboratories, pharmaceutical and biopharmaceutical companies, and other consumers. In terms of mechanism, it is segmented into polymerase chain reaction, next generation sequencing, in-situ hybridization, immunohistochemistry, and other mechanisms. The indicator section is branched into neurology, oncology, infectious disease, and other indicators. Lastly, the commodity segment includes software & services and assay kits & reagents.

North America dominates the companion diagnostics market. The increased focus on precision medicine for therapeutic applications supports the expansion of the studied market. In this regard, the rising prevalence of chronic diseases, such as diabetes and cardiovascular conditions, highlights the demand for precision medicine. Other than this, the rising health consciousness and rollout of various healthcare plans are expected to surge the demand for companion diagnostics, boosting the market on a growth path.

Biocartis, Agilent, Sysmex Corporation, GE Healthcare, Almac Group, Danaher Corporation, bioMerieux, Qiagen, Abbott Laboratories, Genomic Health, Myriad Genetics, Arup Laboratories, Illumina Inc, Roche Diagnostics, and Thermo Fisher Scientific are prominent companies in the companion diagnostics market.

Purchase this report @ https://www.tritonmarketresearch.com/reports/companion-diagnostics-market#purchase-option

Question & Answers: Companion Diagnostics Market

Question 1: What factors drive the companion diagnostics market globally?
Answer: Factors such as increasing medication reactions and the high prevalence of cancer cases drive the companion diagnostics market globally. Companion diagnostics help classify patients expected to benefit from a drug, reducing unnecessary intake. This further lowers the cases of adverse side effects. As per estimates, around 2 million people experience side effects from pharmaceutical drugs in the US. Thus, the rising cases of adverse drug reactions are estimated to boost the market.

Question 2: What factors negatively impact the companion diagnostics market?
Answer: The lack of reimbursement policies and leakage in oncology companion diagnostics negatively impact the companion diagnostics market.

Question 3: Which region dominates the companion diagnostics market?
Answer: North America dominates the companion diagnostics market. The increased focus on precision medicine for therapeutic applications supports the expansion of the studied market. In this regard, the rising prevalence of chronic diseases, such as diabetes and cardiovascular conditions, highlights the demand for precision medicine. Other than this, the rising health consciousness and rollout of various healthcare plans are expected to surge the demand for companion diagnostics, boosting the market on a growth path.

Question 4: Which are the prominent companies in the companion diagnostics market?
Answer: Biocartis, Agilent, Sysmex Corporation, GE Healthcare, Almac Group, Danaher Corporation, bioMerieux, Qiagen, Abbott Laboratories, Genomic Health, Myriad Genetics, Arup Laboratories, Illumina Inc, Roche Diagnostics, and Thermo Fisher Scientific are prominent companies in the companion diagnostics market.

Related Report:

Global Drug Discovery Market-
https://www.tritonmarketresearch.com/reports/drug-discovery-market#report-overview

The global drug discovery market is estimated to grow at a CAGR of 6.50% from 2022 to 2028 while generating $75.89 billion by 2028.

Drug discovery refers to identifying, synthesizing, classifying, screening, and assaying new chemical components that could be used to develop latent drugs.

Factors such as the growing aging population, technological advancements, and surge in healthcare expenditure are driving the growth of the drug discovery market globally.
Additionally, investments by healthcare industries in big data and growing demand for specialty medicines open new avenues for the studied market.

Triton Market Research
196, wards wharf approach
London E16 2EQ
Phone: +44 7441 911839
Email: sales@tritonmarketresearch.com
Website: https://www.tritonmarketresearch.com/

Triton is a leading market research company providing clients with the best online market research data reports.Our offerings include syndicated market insights, customized research reports, and cost-effective consulting services for constructive decision-making.

This release was published on openPR.