openPR Logo
Press release

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: https://www.tritonmarketresearch.com/reports/companion-diagnostics-market#report-overview?utm_source=PaidPRNew&utm_medium=OpenPR&utm_campaign=TritonPR

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: https://www.tritonmarketresearch.com/search-report/Companion+Diagnostics+Market

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.

Request a Free Sample of the Companion Diagnostics Market @ https://www.tritonmarketresearch.com/reports/companion-diagnostics-market#request-free-sample

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.

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

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
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.

Permanent link to this press release:

Copy
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 Elevating Patient Care: Companion Diagnostics' Role in Tailored Therapeutics here

News-ID: 3427640 • Views:

More Releases from Triton Market Research

Asia-Pacific Dermatology Devices Market Forecast 2023-2030: Trends and Growth Analysis
Asia-Pacific Dermatology Devices Market Forecast 2023-2030: Trends and Growth An …
The Asia-Pacific Dermatology Devices Market is experiencing significant growth, driven by increasing awareness and prevalence of skin disorders. Countries within this market include China, Japan, South Korea, India, Australia & New Zealand, ASEAN countries, and the Rest of Asia-Pacific. According to a research report by Triton, the market is expected to grow at a compound annual growth rate (CAGR) of 13.36% from 2023 to 2030. Read the Market Summary Here: https://www.tritonmarketresearch.com/reports/asia-pacific-dermatology-devices-market#report-overview?utm_source=PaidPRNew&utm_medium=OpenPR&utm_campaign=TritonPR
Future Insights: Middle East and Africa Dermatology Devices Market Forecast 2023-2030
Future Insights: Middle East and Africa Dermatology Devices Market Forecast 2023 …
The MIDDLE EAST AND AFRICA DERMATOLOGY DEVICES MARKET is poised for substantial growth, driven by the rising prevalence of skin disorders and increasing demand for advanced dermatological treatments. The market includes countries such as the United Arab Emirates, Saudi Arabia, Turkey, South Africa, and the Rest of the Middle East & Africa. According to Triton's research report, the dermatology devices market in this region is expected to advance at a
Expanding Scope of the Global Membranes Market in 2024-2032
Expanding Scope of the Global Membranes Market in 2024-2032
According to Triton's research report, the global membranes market generated $XX million in 2023 and is expected to generate a CAGR of 6.74% in revenue over the forecasting years 2024-2032. A recent study by Triton Market Research titled Global Membranes Market includes the Global Analysis and Forecasts by Material (Polymeric, Ceramic, Other Materials), Technology(Reverse Osmosis (RO), Nanofiltration (NF), Ultrafiltration (UF), Microfiltration (MF), Other Technologies), End-User (Utilities, Commercial, Industrial, Residential, Other End-Users),
Europe Synthetic Leather Market Size & Forecast to 2030
Europe Synthetic Leather Market Size & Forecast to 2030
Triton Market Research states that the Europe Synthetic Leather Market is poised for significant expansion, with an anticipated compound annual growth rate (CAGR) of 7.23% in revenue from 2023 to 2030. Read the Market Summary Here: https://www.tritonmarketresearch.com/reports/europe-synthetic-leather-market#report-overview?utm_source=PaidPRNew&utm_medium=OpenPR&utm_campaign=TritonPR This growth is driven by increasing consumer preference for cruelty-free and sustainable alternatives to genuine leather, as well as advancements in synthetic leather technology. Countries leading this market include Spain, Italy, France, Germany, the

All 5 Releases


More Releases for Companion

Companion Animal Drugs - Key Market Statistics
Companion animals are pets kept primarily for company, entertainment, and safety. Owners of companion animals consider them to be family, friends, and confidants. Dogs, cats, birds, rabbits, horses, goats, gerbils, rats, mice, and amphibians, others are considered as companion animals. Read Report Overview - https://www.transparencymarketresearch.com/companion-animal-specialty-drugs-market.html According to the American Society for the Prevention of Cruelty to Animals (ASPCA) defines companion animal to be domesticated or domestically-bred whose emotional, physical, social, and behavioral
Companion Animal Vaccine – Improving The Health Of Companion Animals In A Cost …
The companion animal vaccines market is expected to witness significant growth during the forecast period due to launch of vaccines for companion animals. For instance, in December 2017, Zoetis Inc. announced the launch of Vanguard CIV H3N2/H3N8, the latest vaccine in the company’s canine influenza virus (CIV) portfolio. The new bivalent vaccine helps protect dogs against the two strains of the virus known to be circulating in the U.S. Moreover, the
Companion Diagnostics Market - Easing of Regulatory Policies to Drive Global Dem …
Companion diagnostics include two types of tests namely tests which are developed along with target drugs and the other developed after the commercialization of drugs. Companion diagnostics combined with targeted therapeutics are being seen as a major breakthrough in the personalized medicine field. Companies operating in the companion diagnostics market are seeking an effective growth strategy in the development of this concept drug-diagnostic interaction as the healthcare sector is shifting
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 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.
Companion diagnostics Market: Companion diagnostic are used to determine patient …
The few companion diagnostics are already available in the market for specific types of cancer and many are already under clinical development. Companion diagnostics test depends on finding a specific biomarker in the patient and hence biomarker presence or absence determines whether or not the patient will respond to the treatment. This test require a biopsied tissue to access the expression of biomarker protein or mutant or aberrant genes. Companion