Companion Diagnostics Market Expected to Achieve 21.5% CAGR by 2029: Growth Forecast Insights

Stay ahead with our updated market reports featuring the latest on tariffs, trade flows, and supply chain transformations.

How Large Will the Companion Diagnostics Market Size By 2025?
In the past few years, the companion diagnostics market has witnessed a significant expansion. It is projected to rise from $7.34 billion in 2024 to $8.75 billion in 2025, boasting a compound annual growth rate (CAGR) of 19.3%. The historical growth is driven by the widespread adoption of personalized medicine, advancements in oncology and cancer treatments, enhanced collaboration in pharmaceutical research and development, precision medicine programs, and the discovery of biomarkers.

How Big Is the Companion Diagnostics Market Size Expected to Grow by 2029?
The market size of companion diagnostics is projected to experience substantial growth in the coming years, reaching $19.07 billion in 2029 at a compound annual growth rate (CAGR) of 21.5%. The predicted growth during this period can be associated with the development of targeted therapy, detection of infectious diseases, rising diagnostics for rare diseases, enhancements in biomarker-based drug development, point-of-care testing, and applications of liquid biopsy. Prevailing trends during this forecast period encompass advancements in immunotherapy and immunology, the use of artificial intelligence and machine learning in diagnostic procedures, innovative product developments, the implementation of industry 4.0, as well as strategic collaborations.

View the full report here:
https://www.thebusinessresearchcompany.com/report/companion-diagnostics-global-market-report

Which Key Market Drivers Powering Companion Diagnostics Market Expansion and Growth?
The growth of the companion diagnostics market is poised to be driven by the increasing number of targeted therapies. Unlike chemotherapy, targeted therapy is a type of pharmacological therapy that specifically targets the unique aspects of cancer cells to inhibit disease proliferation and often has fewer side effects because the drugs circulate throughout the body with a more focused effect. The employment of companion diagnostic tests based on biological markers for targeted cancer therapy is increasingly becoming an integral element of personalized cancer treatment. The Personalised Medicine Coalition, a healTH*Care organization based in the US, reported in February 2024 that the FDA approved 16 new personalized treatments for patients with rare diseases in 2023, a significant increase from the previous year's six. As such, the rise in targeted therapies is driving the expansion of the companion diagnostics market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7038&type=smp

Which Fast-Growing Trends Are Poised to Disrupt the Companion Diagnostics Market?
Advancements in technology have emerged as a significant trend in the companion diagnostics market sector. The use of artificial intelligence is revolutionizing the development of more effective drugs for companion diagnostics. The vast data sets continuously collated from varied genetic profiling have paved the way for the extensive use of AI. For example, Deep Genomics, a company based in Toronto, leverages artificial intelligence to discover superior remedies for genetic diseases and expedite their entry into clinical trials. The endgame is to exploit deep learning to delve into the human genome in search of knowledge about disease causes and the development and testing of chemical compounds that could be potential treatments. Using a computer model, deep learning enables researchers to examine billions of chemical combinations in the quest for hopeful formulations that could be molded into life-saving medicine beneficial for individuals all over the globe.

What Are the Emerging Segments in the Companion Diagnostics Market?
The companion diagnostics market covered in this report is segmented -

1) By Product And Service: Assays, Kits And Reagents, Software And Services
2) By Technology: Polymerase Chain Reaction, Next-Generation Sequencing, In Situ Hybridization, Immunohistochemistry
3) By Indication: Lung Cancer, Breast Cancer, Colorectal Cancer, Leukemia, Melanoma
4) By End-User: Pharmaceutical And Biopharmaceutical Companies, Reference Laboratories, Contract Research Organizations

Subsegments:
1) By Assays: Polymerase Chain Reaction (PCR) Assays, Immunohistochemistry (IHC) Assays, Next-Generation Sequencing (NGS) Assays, In Situ Hybridization (ISH) Assays
2) By Kits And Reagents: Diagnostic Kits, Detection Reagents, Control Reagents
3) By Software And Services: Data Analysis Software, Interpretation Software, Custom Development Services, Consulting and Support Services

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=7038&type=smp

Who Are the Global Leaders in the Companion Diagnostics Market?
Major companies operating in the companion diagnostics market include F Hoffmann-La Roche Ltd., Agilent Technologies Inc., Qiagen NV, Thermo Fisher Scientific Inc., Abbott Laboratories Inc., Abnova Corp., Amoy Diagnostics Co. Ltd., ARUP Laboratories, Bayer AG, Biomerieux SA, Danaher Corporation, Guardant Health Inc., Illumina Inc., Myriad Genetics Inc., Siemens HealTH*Care GmbH, Almac Group, Caris Life Sciences, Cepheid Inc., Diaceutics plc, Epic Sciences Inc., Foundation Medicine Inc., Genomic Health Inc., Grail Inc., Hologic Inc., HTG Molecular Diagnostics Inc., Inivata Ltd., Invivoscribe Inc., MolecularMD Corporation, Natera Inc., NeoGenomics Laboratories Inc., Personal Genome Diagnostics Inc., Precision Therapeutics Inc., Prometheus Laboratories Inc., Sividon Diagnostics GmbH, Sysmex Corporation, Ventana Medical Systems, Vermillion Inc.

Which are the Top Profitable Regional Markets for the Companion Diagnostics Industry?
North America was the largest region in the companion diagnostics market in 2024. The regions covered in the companion diagnostics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=7038

This Report Supports:
1. Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2. Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3. Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4. Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Learn More About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.