Companion diagnostics Market to Record an Exponential CAGR by 2021

Companion Diagnostics are used in diagnosing the treatment response of the patient. Companion diagnostic is now gaining importance for personalized treatment medicine and drug discovery. Companion diagnostic are used to determine patient personal molecular profile which helps in deciding which therapy will work for the patient. The few companion diagnostics are already available in the market for specific types of cancer and many are already under clinical development.

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Companion diagnostics test depends on finding a specific biomarker in the patient and hence biomarker presence or absence determines whether or not the patient will respond to the treatment. This test require a biopsied tissue to access the expression of biomarker protein or mutant or aberrant genes. Companion diagnostics are also used in drug development process by determining Companion biomarker that help predict likely response of toxicity.

Companion diagnostics market is growing due to continuous advancement in medical technology both for the diagnosis and the treatment of patients. Rise in the prevalence of diseases like cancer & HIV is fueling to the growth of companion diagnostics as it assist in determining the patient specific dose and drugs.

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Awareness among physician and patient about the drug toxicity is helping the market to dive further however in developing countries due to less awareness it is not as much in practice as in developed countries but the developing countries with huge population like India & china have a huge potential to pool in the market share. Lack of skilled professionals in the developing countries and lack of awareness is hampering the growth of companion diagnostics in developing countries. Other challenges in the development of companion diagnostics is the logistic issues raised so as to develop companion diagnostics and drug together.

Oncology being the highest revenue generating segment and most of the companion diagnostic have been developed to detect one or the other cancer biomarkers.

Companion diagnostics has developed its space in drug discovery and diagnostics by identifying the biomarkers. Companion Diagnostic test includes biomarker test which helps in making a better decision making in therapy use. The goal of diagnostic drug is specially linked to therapeutic drug and increasing its safety and efficacy. However it is difficult to find the predictive biomarker in the early stage of development of drugs, can only be established after a significant number of patients much beyond the usual number in Phase III trials.

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Some of the key market players in companion diagnostic market are Qiagen, Abbott, Genomic Health, Roche Holdings, Life Technologies, Thermo Fischer Scientific, Myriad Genetics, Agilent Technologies, Amgen, Sysmex, Myriad Genetics, Protagen Diagnostics to name a few.

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