Companion Diagnostics Market: Company Profiles, Segment Size, and Forecast Through 2024-2031 | Agilent Technologies, Inc., Qiagen N.V., Thermo Fisher Scientific, Inc.

The Global Companion Diagnostics Market reached US$ 6.1 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 15.0 billion by 2030. The global companion diagnostics market is expected to exhibit a CAGR of 12.2% during the forecast period (2024-2031).

The Companion Diagnostics market report provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. With a commitment to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Leveraging a combination of qualitative and quantitative research methods, the company offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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The Companion Diagnostics Market is driven by the rising demand for personalized medicine and the increasing adoption of targeted therapies in treating cancer, cardiovascular diseases, and neurological disorders. Companion diagnostics help identify patients who are most likely to benefit from specific drugs or treatments, improving efficacy and reducing adverse effects. Market growth is fueled by advancements in biomarker research, next-generation sequencing (NGS), and liquid biopsy technologies. Additionally, the expanding role of precision oncology, regulatory support for co-developed diagnostics and therapeutics, and increasing investments in molecular diagnostics contribute to the market's expansion.

Forecast Growth Projected:

The Global Companion Diagnostics Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

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List of the Key Players in the Companion Diagnostics Market:

F. Hoffmann-La Roche Ltd., Agilent Technologies, Inc., Qiagen N.V., Thermo Fisher Scientific, Inc., Abbott Laboratories, Inc., Biomerieux SA, Siemens Healthcare, Thermo Fisher Scientific Inc., Danaher Corporation (Beckman Coulter Inc.), Guardant Health and Illumina Inc and others.

Industry Development:

On February 10, 2022, Genetron Holdings Limited, a leading precision oncology company in China specializing in molecular profiling, early cancer screening, and companion diagnostics, announced a collaboration agreement with HUTCHMED (China) Limited. The partnership aims to develop a companion diagnostic (CDx) test for ORPATHYS (savolitinib) in China.

On January 13, 2022, Amoy Diagnostics Co., Ltd. and PREMIA Holdings (HK) Limited announced the commercial launch of the AmoyDx Pan Lung Cancer PCR Panel (PLC Panel) in Japan. The PLC Panel is a reimbursed companion diagnostic for multiple anti-cancer agents. AmoyDx developed and manufactured the panel, while PREMIA led its development in Japan.

Research Methodology

Our research methodology combines both qualitative and quantitative approaches to provide you with a thorough market analysis. We begin by gathering data from trusted industry reports and databases (secondary research), followed by primary research through surveys and interviews with key experts. We then apply advanced statistical tools to analyze the data, uncover trends, and assess market dynamics. Additionally, we use market segmentation and Porter's Five Forces analysis to evaluate competition. This approach ensures that the insights we provide are reliable, actionable, and tailored to support your decision-making process.

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Segment Covered in the Companion Diagnostics Market:

By Product & Services: Assays, Kits & Reagents, Software & Services.

By Technology: Immunohistochemistry (IHC), Polymerase Chain Reaction (PCR), In-situ Hybridization (ISH), Next-generation Sequencing, Others.

By Indications: Cardiovascular, Neurological Diseases, Cancer, Inflammation and Autoimmune Diseases, Others.

By End-User: Pharmaceutical and Biopharmaceutical Companies, Contract Research Organizations, Others.

This Report Covers:

✔ Go-to-market Strategy.

✔ Neutral perspective on the market performance.

✔Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, Market Access, and other significant analysis, as well as development status.

✔Customized regional/country reports as per request and country level analysis.

✔ Potential & niche segments and regions exhibiting promising growth covered.

✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).

Regional Analysis for Companion Diagnostics Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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Frequently asked questions:

➠ What is the global sales value, production value, consumption value, import and export of Companion Diagnostics market?

➠ Who are the global key manufacturers of the Companion Diagnostics Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?

➠ What are the Companion Diagnostics market opportunities and threats faced by the vendors in the global Companion Diagnostics Industry?

➠ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?

➠ What focused approach and constraints are holding the Companion Diagnostics market?

➠ What are the different sales, marketing, and distribution channels in the global industry?

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