Global Companion Diagnostic Devices Market : Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023

Some of the factors like improved efficacy and safety profiles of drugs, Accelerated drug regulatory approvals, reduced healthcare expenditure and drug development costs, increasing partnerships between market players, government organizations and other research firms over the use of co diagnostics, emergence of new pharmaceuticals and diagnostics are driving the growth of the global companion diagnostics market. However, due to the regulatory uncertainty, complex clinical trial procedures and intellectual property issues in certain areas are the few issues which are restraining the growth of the global companion diagnostics market.

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Global companion diagnostic tests are segmented on the basis of application, technology, end user and geographical region.

Based on the application, global companion diagnostic tests are segmented as:
Breast Cancer
Colorectal Cancer
Lung Cancer
Urology
Melanoma
Gastric Cancer
Others

Based on the type, global companion diagnostic tests are segmented as:
Screening and Detection Tests
Prognosis Tests
Theranostics Tests
Monitoring Tests
Recurrence Tests

Based on the end-user, global companion diagnostic tests are segmented as:
Hospitals
Diagnostic Centres
Others

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The global companion diagnostic devices market is highly fragmented due to the presence of several established large and small suppliers. The competition in the market will intensify during the forecast period as vendors adopt strategies like M&A to develop new technologies. Product approval and launch will also help to increase the volume of available diagnostic devices in the market. In addition, the vendors also work on differentiating their products based on quality, the accuracy of results, and other value added services as it will help them to gain a competitive edge over their peers.

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Geographically, companion diagnostic devices market is segmented into five regions: North America, Europe, Latin America, Asia-Pacific and Middle East & Africa. North America expected to be major market for companion diagnostics owing to growth innovative technologies in biomarkers, increase in R&D investment in the region. Asia-Pacific and Europe are expected to grow at a significant rate owing to large patent and consumer base, increasing government initiatives developing healthcare infrastructure, and growing disposable income.

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Some of the players in companion diagnostic devices market are F. Hoffmann-La Roche Ltd.(Switzerland), Qiagen Ltd. (Germany), ARUP Laboratories (U.S.), Abbott Laboratories (U.S.), Biogenex Laboratories, Inc. (USA), Thermo Fisher Scientific (U.S), Ventana Medical Systems Inc. (U.S), Myriad Genetics Inc. (U.S), and Danaher (U.S) and others.

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