Press release
Companion Diagnostics Market to Reach US$ 9.30ย Billion by End of 2028, TMR Study
The global ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐จ๐ง ๐๐ข๐๐ ๐ง๐จ๐ฌ๐ญ๐ข๐๐ฌ ๐ฆ๐๐ซ๐ค๐๐ญ, valued at US$ 5.24 billion in 2020, is projected to grow at a CAGR of 9% from 2021 to 2028, reaching US$ 9.30 billion by 2028. Analysts anticipate significant growth driven by increasing incidences of oncology and chronic disorders worldwide. Despite promising revenue opportunities, challenges such as lengthy approval processes and limited reimbursement policies in certain regions may impede market expansion. Companion diagnostics play a crucial role in personalized medicine for cancer patients by assessing their response to targeted drug therapy.๐๐๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ :
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Companion diagnostics are tests that help predict the effectiveness or safety of a therapeutic treatment for individuals with certain diseases. They assist physicians in making treatment decisions by determining the efficacy of a specific drug for a particular patient population. For example, Herceptin (trastuzumab) is used to treat breast cancer patients with the HER2 gene.
These diagnostics are poised for significant growth due to numerous tests in development. They offer the advantage of predicting patient response to therapy, leading to better outcomes and reduced healthcare costs. Additionally, they help avoid generic treatments, lowering the risk of side effects and hospitalizations.
๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐จ๐ง ๐๐ข๐๐ ๐ง๐จ๐ฌ๐ญ๐ข๐๐ฌ ๐๐๐ซ๐ค๐๐ญ: ๐๐๐ฒ ๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ
Technological advancements, increased cancer prevalence worldwide, and ongoing research and development efforts are expected to drive growth in the global companion diagnostics market.
Demand for personalized medicines and expansion of the pharmaceutical industry, along with key mergers and acquisitions, will contribute to market expansion.
The impact of COVID-19 on companion diagnostics is also projected to boost market growth during the forecast period.
The rising prevalence of infectious diseases like HIV will further drive demand for advanced companion diagnostics.
Breast cancer incidence is on the rise globally, particularly in both developing and developed countries, which will significantly impact the market.
Major risk factors for cancer include hereditary factors, aging, obesity, high alcohol consumption, hormone replacement therapy, and cosmetic implants.
Technological advancements leading to faster approval of companion diagnostic tests will be a key driver for market growth.
Regulatory approvals for companion diagnostic assays, with around 44 CDx assays approved by the FDA in 2020 alone, are expected to propel the market forward in the coming years.
๐๐๐ฃ๐จ๐ซ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
Labcorp Drug Development,Agilent Technologies,Myriad Genetic Laboratories, Inc.,Qiagen,Roche Molecular Systems, Inc.,Dako, Inc.,Abbott,Foundation Medicine, Inc.,MolecularMD Corporation,Ventana Medical Systems, Inc.,Illumina, Inc.,Life Technologies Corporation,Invivoscribe Technologies, Inc.,ARUP Laboratories, Inc.,Leica Biosystems,Biogenex Laboratories, Inc.,bioMรฉrieux, Inc.,GE Healthcare,Agendia N.V,Exact Sciences Corp,Genomic Health
๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง:
By Indication
Breast Cancer
Lung Cancer
Colorectal Cancer
Gastric Cancer
Melanoma
Others (HIV, Thalassemia)
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ: ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐จ๐ง ๐๐ข๐๐ ๐ง๐จ๐ฌ๐ญ๐ข๐๐ฌ ๐๐๐ซ๐ค๐๐ญ
North America dominated the global companion diagnostics market in 2020 and is expected to maintain this trend in the forecast period, driven by technological advancements, growing patient population, and increasing cancer prevalence.
The region saw 1,806,590 new cancer cases and 606,520 deaths in 2020, highlighting the demand for companion diagnostics in North America.
Asia Pacific is poised for rapid growth due to rising cancer rates, the COVID-19 pandemic, and advancements in diagnostic products. Breast cancer cases will particularly drive the market.
Increased demand for personalized medicines, along with untapped potential, scientific research, economic growth, and favorable regulatory environments, make Asia Pacific attractive to global players.
๐๐๐ญ ๐๐ก๐ข๐ฌ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐๐ฉ๐จ๐ซ๐ญ, ๐๐ง๐ฌ๐ญ๐๐ง๐ญ๐ฅ๐ฒ:
https://www.transparencymarketresearch.com/checkout.php?rep_id=387<ype=S&utm_source=OpenPR&utm_campaign=MansiR_OpenPR
๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐๐ง๐๐ฌ:
Integration of artificial intelligence and machine learning in companion diagnostics.
Expansion of companion diagnostics beyond oncology to other therapeutic areas.
Shift towards decentralized testing and point-of-care diagnostics.
๐ ๐ฎ๐ญ๐ฎ๐ซ๐ ๐๐ฎ๐ญ๐ฅ๐จ๐จ๐ค:
The Companion Diagnostics Market is poised for continued growth, driven by ongoing technological innovations, expanding applications, and increasing adoption across various disease areas. As precision medicine becomes increasingly mainstream, companion diagnostics will play an indispensable role in optimizing treatment strategies and improving patient outcomes.
๐๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐ญ๐ฎ๐๐ฒ ๐๐จ๐ข๐ง๐ญ๐ฌ:
Market dynamics analysis, including drivers, challenges, opportunities, and trends.
Comprehensive market segmentation analysis.
Regional analysis highlighting growth opportunities and market trends.
Competitive landscape assessment, identifying key players, market strategies, and recent developments.
Future outlook and growth prospects.
๐๐ซ๐จ๐ฐ๐ฌ๐ ๐๐จ๐ซ๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ฒ ๐๐๐:
๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐ข๐ฅ ๐๐ฎ๐ฆ๐ฉ ๐๐๐ซ๐ค๐๐ญ- https://www.globenewswire.com/news-release/2023/01/31/2598865/0/en/Automotive-Oil-Pump-Market-Estimated-to-Grow-at-a-CAGR-Of-4-5-from-2022-to-2031-as-per-TMR-Study.html
๐๐ซ๐๐๐ก๐๐จ๐ฌ๐ญ๐จ๐ฆ๐ฒ ๐๐๐ฏ๐ข๐๐๐ฌ ๐๐๐ซ๐ค๐๐ญ- https://www.globenewswire.com/news-release/2023/01/31/2598797/0/en/Tracheostomy-Devices-Market-Value-to-Exceed-US-291-3-Million-by-2031-as-per-Transparency-Market-Research-Inc.html
๐๐๐จ๐ฎ๐ญ ๐๐ซ๐๐ง๐ฌ๐ฉ๐๐ซ๐๐ง๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก
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๐๐จ๐ง๐ญ๐๐๐ญ:
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