Companion Diagnostics Market- Industry Analysis, Size, Share, Growth Trends and Forecasts (2016 – 2021)

The Global Companion Diagnostic market accounted for USD 5,813 million in 2016 and is estimated to account for USD 26,064 million in 2021 growing at a CAGR of 35%. It is a test that is done to identify the genetic profile of a patient suffering from cancer or other inherited disease for which a specific form of treatment (therapeutics involving monoclonal bodies in most cases) could be administered. It helps in the reduction of the side effects and also increases the efficacy of a particular drug.
Companion diagnostic is a type of in-vitro diagnostic that has seen rapid acceptance among most healthcare professionals because of its sensitivity to predict a drug response and also as it helps to categorize the population of people who will respond to a particular drug. It has seen wide acceptance for indications of different forms of cancer like lung cancer, colorectal cancer, melanoma and others.
The global companion diagnostic market is driven by various factors like manufacturers promoting personalized medicine and targeted therapy, increase cases of adverse drug reaction and co development of drug and diagnostic technology development. However the market is restrained by factors like high cost of drug development and associated clinical trials and reimbursement issues among many countries.

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The global companion diagnostic market is segmented based on the technology used, the applications and the indications. Based on the technology used the market is further segmented into immunohistochemistry, polymerase chain reaction, in-situ hybridization, real time PCR, gene sequencing and others. Based on indications the market is segmented into lung cancer, breast cancer, colorectal cancer, leukemia, melanoma and others.
Based on geography the market is further segmented into North America (USA, Canada, and Mexico), Europe (UK, France, Germany, Spain, Portugal, Italy, Scandinavia, and BENELUX), Asia Pacific (India, China, Japan, Australia, Netherlands, and South Korea), Latin America (Brazil, Argentina), Middle East and Africa (GCC, South Africa and other countries).
Technological advancements like development of NGS , Flow cytometry and other advanced techniques and the companion diagnostic now targeting neurodegenerative disorders and hereditary disorders alo9ng with cancers have great opportunities for the market players to invest in companion diagnostic. However, the number of late-stage failures of therapeutic products being high is a challenge for players of companion diagnostic as well as the delay associated with clinical trial approval. The major players in the market are Qiagen, Abbott, Myriad, Dako, Ventana among many others.

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Major regions, countries, and sub-segments have been analyzed for providing the better understanding of the market scope worldwide. The report studies the market by evaluating the manufacturers, manufacturing chain, contribution in the industry, regulations, prevalent policies and cost structures. The regional markets for the Companion Diagnostics market are analyzed by evaluating the pricing of products, profit generated, logistics, demand, and supply, production capacity, as well as the historical performance of the market in the given region.

The report also provides insights on the competitive landscape of the global Companion Diagnostics industry with the leading players profiled in the report. The Companion Diagnostics market is highly competitive and regulated. The company profiles, trends, tactics, merger & acquisitions, business strategies, financial metrics of the major participants operating in the global Companion Diagnostics market have been reviewed in this study.

Table Of Contents – Major Key Points

1. Introduction
1.1 Report Description
1.2 Study Assumptions
1.3 Market Definitions
1.4 Companion Diagnostics Introduction
1.4.1 Context and Background
1.4.2 Difference between In Vitro Diagnostics and Companion Diagnostics
1.4.3 Labeling Considerations
1.4.4 Classical Drug & In Vitro Diagnostics Development
1.4.5 Companion Diagnostics Regulatory Framework
1.4.5.1 United States Regulation
1.4.5.2 Europe Regulation
1.4.5.3 Rest of World Regulation
2. Research Approach and Methodology
2.1 Introduction
2.2 Analysis Methodology
2.3 Study Phases
2.3.1 Secondary Research
2.3.2 Discussion Guide
2.3.3 Market Engineering & Econometric Modelling
2.3.4 Expert Validation
2.4 Study Timeline
3. Executive Summary
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Dynamics
4.2.1 Drivers
4.2.1.1 Companies promoting personalized medicine and targeted therapy as a new treatment option
4.2.1.2 Increasing cases of adverse drug reaction
4.2.1.3 Co-development of drug and diagnostic technology
4.2.2 Restraint
4.2.2.1 High cost of drug development and associated clinical trials.
4.2.2.2 Reimbursement issues among many countries
4.2.3 Opportunities
4.2.3.1 Technological advancements like Next Generation Sequencing, Flow Cytometry and others
4.2.3.2 Companion diagnostic targeting neurodegenerative and hereditary diseases
4.2.4 Threats
4.2.4.1 Number of late-stage compound failures is high
4.2.5 Porter’s Five Forces Analysis
4.2.5.1 Bargaining Power of Suppliers
4.2.5.2 Bargaining Power of Buyers
4.2.5.3 Threat of New Entrants

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