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Elevating Patient Care: Companion Diagnostics' Role in Tailored Therapeutics

03-13-2024 12:44 PM CET | Health & Medicine

Press release from: Triton Market Research

Companion Diagnostics Market

Companion Diagnostics Market

According to Triton's Report, the Global Companion Diagnostics Market was valued at $5314.48 million in 2021 and is expected to reach $12740.68 million by 2028, growing at a CAGR of 12.84% during the forecast period 2022-2028.

Read the Market Summary Here:

Tests or assays known as companion diagnostics are used to determine which patients will most likely benefit from a specific course of treatment or medication. Precision medicine frequently uses these tests to customize treatment plans for individual patients based on their unique attributes, such as genetic composition, expression of biomarkers, or other diagnostic standards.

Three primary uses for CDxs are as follows:

Identifying genetic subgroups more likely to benefit from a particular therapeutic

Identifying patients more likely to experience severe side effects from a particular therapeutic

Identifying any unfavorable responses to treatment modifications aimed at improving suitability and safety.

Here's a link to our Regional Report Summary:

A growing number of regulatory authority-approved medications advise or demand CDx to identify patient populations that qualify for the treatment.
Agilent Technologies and Incyte announced a partnership in February 2024 that will combine Agilent's companion diagnostics (CDx) development experience to support the growth and marketing of Incyte's oncology and hematology portfolio.

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As a result, Agilent will be able to add new biomarkers to its portfolio of companion diagnostics, and Incyte will benefit from Agilent's experience in developing IVD assays, obtaining international regulatory approvals, and launching successful businesses to support clinical trials and the possible registration of CDx in the US and Europe.

Besides, Agilent has released several new CDx tests since the release of HercepTest, one of which is the PDL-1 IHC 22C3 franchise, which provides a growing selection of tests for evaluating PDL-1 expression.

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In clinical practice, CDx contributes to better patient outcomes and lower costs by collaborating with therapeutics. Moreover, it contributes to the advancement of clinical research by facilitating targeted therapies and precision medication development, thereby fast-tracking new drug approval. This, in turn, expedites patient access to innovative scientific treatments.

Question & Answer: Companion Diagnostics Market

Question 1: What are the key drivers of the Companion Diagnostics Market?
Answer: Key drivers include advancements in personalized medicine, the increasing demand for precision therapy, growth in the biopharmaceutical sector, and regulatory support for companion diagnostics. Additionally, the rising prevalence of chronic diseases and the need for cost-effective treatment modalities also contribute to market growth.

Question 2: What are the challenges facing the Companion Diagnostics Market?
Answer: Challenges include regulatory hurdles, high development costs, the need for robust clinical validation, and the complexity of developing diagnostics that can be effectively paired with therapeutics. Additionally, there's the challenge of ensuring global access and reimbursement for these tests.

Question 3: What are the trends in the Companion Diagnostics Market?
Answer: Trends include the integration of artificial intelligence and machine learning in diagnostic processes, the expansion of companion diagnostics beyond oncology to other therapeutic areas, and the increasing importance of liquid biopsy tests. There's also a growing focus on developing multiplex assays that can test for multiple biomarkers simultaneously.

Triton Market Research
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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.

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