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Comprehensive Companion Diagnostics Market Forecast 2025-2034: Growth Trends and Strategic Shifts
Companion Diagnostics
Companion Diagnostics Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
There has been substantive expansion in the companion diagnostics market in the past few years. The market value is projected to rise from $7.34 billion in 2024 to $8.69 billion in 2025, which translates to a compound annual growth rate (CAGR) of 18.4%. The historical growth can be linked to the rising acceptance of personalized medicine, advancements in oncology and cancer treatments, enhanced collaborations in pharmaceutical research and development, strategies in precision medicine, and discovery of biomarkers.
Companion Diagnostics Market Size Forecast: What's the Projected Valuation by 2029?
The market size for companion diagnostics is projected to undergo significant expansion in the coming years. The market is predicted to reach $18.78 billion by 2029, with a compound annual growth rate (CAGR) of 21.2%. Factors propelling this growth within the forecast period include the development of targeted therapy, the diagnosis of infectious and rare diseases, the increase in biomarker-based drug development, point-of-care testing, and applications of liquid biopsy. Key trends within this period are likely to be advancements in immunotherapy and immunology, the integration of AI and machine learning in diagnostics, product innovations, the implementation of industry 4.0, and strategic collaborations.
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What Are the Drivers Transforming the Companion Diagnostics Market?
The growth of the companion diagnostics market is expected to be fuelled by the rising number of targeted therapies. Unlike chemotherapy that affects the entire body, targeted therapy is a pharmacological treatment that zeroes in on specific characteristics of cancer cells to prevent their proliferation and disease spread, and often results in fewer side effects. The use of biomarker-based companion diagnostic tests for targeted cancer treatment is gradually becoming a critical component of personalized cancer treatment. For example, as reported by the Personalised Medicine Coalition, a US-based healare organization, in February 2024, the FDA authorized 16 new personalized treatments for patients with rare diseases in 2023, a significant increase from the six approved in 2022. As a result, the rise in targeted therapies contributes to the growth of the companion diagnostics market.
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Which Emerging Trends Are Transforming the Companion Diagnostics Market in 2025?
The advancement in technology is influencing the companion diagnostics market trend significantly. The application of artificial intelligence is enhancing the development of more effective drugs in this market. The constant collection of vast data sets from varying genetic profiles has made the extensive use of AI possible. For instance, Toronto-based start-up Deep Genomics is leveraging artificial intelligence to discover improved treatments for genetic diseases and expedite their induction into clinical trials. The objective is to harness deep learning to investigate the human genome for insights about disease causes and to develop and examine chemical compounds which can be used as cures. Deep learning allows researchers to scrutinize billions of chemical compounds in a statistical model, identifying potential formulations that can be developed into life-saving drugs for people globally.
Which Segments in the Companion Diagnostics Market Offer the Most Profit Potential?
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
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Which Firms Dominate the Companion Diagnostics Market by Market Share and Revenue in 2025?
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 Healare 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 Regions Offer the Highest Growth Potential in the Companion Diagnostics Market?
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.
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