Press release
Growth Spikes in the Global Companion Diagnostics Market: Evaluated at $7.34 Billion in 2025, Globally Projected to Reach $19.07 Billion by 2029
Companion Diagnostics Market Size
Exponential Growth Expected in the Companion Diagnostics Market Spanning the Next Few Years, with Developing Trends and Key Market Players
What is the Projected Market Size of the Global Companion Diagnostics Market and Its Growth Rate?
The companion diagnostics market is witnessing substantial growth in the recent years. The key statistics include:
• The market size of $7.34 billion in 2024
• Growth to $8.75 billion in 2025 with a CAGR of 19.3%
• The market to reach $19.07 billion in 2029 at a CAGR of 21.5%
The factors leading to historic growth are increased adoption of personalized medicine, expansion in oncology and cancer therapies, increased pharmaceutical R&D collaboration, precision medicine initiatives, and biomarker discovery. The forecast growth can be attributed to targeted therapy development, evolution of infectious disease diagnostics, increase in rare disease diagnostics, rise of biomarker-based drug development, advent of point-of-care testing, and applications of liquid biopsy.
What is Driving the Growth in the Companion Diagnostics Market?
The increasing number of targeted therapies are a significant factor expected to propel the growth of the companion diagnostics market. Targeted therapy, a pharmacological therapy specifically targeting certain characteristics of cancer cells to inhibit their growth and spread, has been gaining traction. The therapy circulates throughout the body, providing a more targeted effect with often fewer adverse effects than traditional chemotherapy. The surge in targeted therapies, therefore, drives the growth in the companion diagnostics market.
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Who Are the Key Players Driving Companion Diagnostics Market Growth?
The companion diagnostics market is characterised by several major companies, including:
• F Hoffmann-La Roche Ltd.
• Agilent Technologies Inc.
• Qiagen NV
• Thermo Fisher Scientific Inc.
• Abbott Laboratories Inc.
• Biomerieux SA
• Danaher Corporation
• Illumina Inc.
• Siemens Healthcare GmbH
• Bayer AG
What Are The Key Trends In The Companion Diagnostics Market?
Key trends in the forecast period include:
• Advances in immunotherapy and immunology
• AI and machine learning applications in diagnostics
• Novel product innovations
• Adoption of industry 4.0
• Strategic collaborations
What Are The Segments Of The Global Companion Diagnostics Market?
The market for companion diagnostics is segmented by:
• Product and Service: Assays, Kits and Reagents, Software, and Services
• Technology: Polymerase Chain Reaction, Next-Generation Sequencing, In Situ Hybridization, Immunohistochemistry
• Indication: Lung Cancer, Breast Cancer, Colorectal Cancer, Leukemia, Melanoma
• End-User: Pharmaceutical and Biopharmaceutical Companies, Reference Laboratories, Contract Research Organizations
Which Region Leads The Companion Diagnostics Market?
North America was the largest region in the companion diagnostics market in 2024. The report also examines other regions including Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East and Africa.
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What Is Covered In The Companion Diagnostics Market Global Market Report?
- Market Size Analysis: Analyze the Companion Diagnostics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Companion Diagnostics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Companion Diagnostics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Companion Diagnostics Market .
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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