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Global Companion Diagnostics Market

March 17, 2018

Global Companion Diagnostics Market, By Product Type (Assays, Kits, & Reagents and Software & Services), By Technology (Immunohistochemistry, Polymerase Chain Reaction (PCR), Next Generation Sequencing (NGS), In Situ Hybridization, and Others), By Indication (Cancer (Breast Cancer, Lung Cancer, Melanoma, Colorectal Cancer, Gastric Cancer, and Others), Neurological Diseases, Infectious Diseases, Cardiovascular Diseases, and Others), By Region (North America, Latin America, Europe, Asia-Pacific, Middle East and Africa) - Global Forecast, 2020-2025.

Report Code :FMR315      
Pages :210 Pages
Format :   PPT Format   PDF Format

The global companion diagnostics market was valued at US$ xx million in the year 2019. This market is estimated to be valued at US$ xx million in the year 2020, and is expected to reach US$ xx million by the year 2025, with an estimated CAGR of xx% during the forecast period (2020−2025). A companion diagnostic is an in-vitro medical test that helps in matching the patient with an appropriate and specific drug or therapy. This diagnostic test helps healthcare professionals in determining whether a particular therapy is beneficial to patients as well as whether it can outweigh any potential serious side effects or risks.        

 Table 1 Global Companion Diagnostics Market Synopsis

Parameters

Description

Market Value (US$ Mn) for the Period

2018-2025

Base Year

2019

Forecast Period

2020-2025

Market Segmentation (By Product Type)

Assays, Kits, & Reagents and Software & Services

Market Segmentation (By Technology)

Immunohistochemistry, Polymerase Chain Reaction (PCR), Next Generation Sequencing (NGS), In Situ Hybridization, and Others

Market Segmentation (By Indication)

Cancer (Breast Cancer, Lung Cancer, Melanoma, Colorectal Cancer, Gastric Cancer, and Others), Neurological Diseases, Infectious Diseases, Cardiovascular Diseases, and Others

Regions Covered

North America, Latin America, Europe, Asia-Pacific, Middle East and Africa

Key Players Coverage

F. Hoffmann-La Roche AG, Agilent Technologies, Inc., QIAGEN N.V., Abbott Laboratories, Inc., Almac Group, Danaher Corporation, Illumina Inc., Biomérieux SA, Myriad Genetics, Inc., Sysmex Corporation, Thermo Fisher Scientific, Inc., Abnova Corporation, ARUP Laboratories, Inc., Foundation Medicine, Inc., and Guardant Health, Inc., among others.

Key Insights

  • Latest Updates
  • Analyst Views
  • Future Outlook of the Market

Market Dynamics

Growth of the global companion diagnostics market can be attributed to the increasing focus on personalized medicines and the co-development of diagnostic and drug technologies. Additionally, rising incidence of adverse drug reactions due to the lack of efficacy drive the need for companion diagnostics. Moreover, increasing collaborations among companies for the development of better biomarkers and companion diagnostics kits for varied applications like cancer, cardiovascular and neurological disorders are also expected to boost the market growth. For instance, in April 2019, Roche launched a new VENTANA HER2 dual in situ hybridization (ISH) companion diagnostic assay to help identify patients with breast cancer and gastric cancer. Companion diagnostic tests (CDXs) are considered necessary for decision making for the treatment with targeted therapies in case of lung cancer. For example, Cobas EGFR Mutation Test v2 (Roche Molecular Systems) and Thera screen EGFR RGQ PCR Kit (Qiagen), are some of the companion diagnostics available for lung cancer therapies. Moreover, lung cancer is the most common form of cancer, which causes significant mortality globally. As per 2018 report by the World Health Organization, there were an estimated of 2.09 million cases of lung cancer. This led to a rise in the demand for lung cancer companion diagnostics during the forecast period.

Figure 1. PORTER’S Analysis

Note: The above figure is shown for illustrative purposes only, the actual data may vary and will be incorporated in the report.

North America dominates the overall companion diagnostics market, with the U.S. emerging as the major contributor to the market. Companion diagnostics are used as an important treatment decision tool for a number of oncology drugs. In the U.S., companion diagnostic assays are classified as IVD (in vitro diagnostic device) class III products. This represents a high-risk category, and consequently requires the highest level of regulatory control. Thus, due to advance technology, increase in adoption rates, and increasing demand for personalized medicine, the market for companion diagnostics is expected to offer a lucrative growth rate in the U.S. and Canada during the forecast period.

Asia-pacific region is also expected to witness lucrative growth during forecasted period owing to it being a large patient-pool for various diseases leading to key manufacturers to launch their products in this market.

Figure 2. Regional Analysis

 

Note: The above figure shown for illustrative purposes only, the actual data may vary and will be incorporated in the report.

Competitive Landscape

Key players in the global companion diagnostics market include: Danaher Corporation, Agilent Technologies, Inc., QIAGEN N.V., Myriad Genetics, Inc., Abbott Laboratories, Inc., Biomérieux SA, Illumina Inc., Abnova Corporation, Guardant Health, Inc., Almac Group, Sysmex Corporation, Thermo Fisher Scientific, Inc., Foundation Medicine, Inc., and ARUP Laboratories, Inc., among others.

Key market players are focused on launch of new products to expand their product portfolio and increase their market share. For instance, in August 2020, Foundation Medicine launched its FDA-approved companion diagnostic Liquid Biopsy. This test is designed to analyze more than 300 genes and genomic signatures in solid cancers.

Figure 3. Market Share of Key Players, 2019

 

Note: The above figure shown for illustrative purposes only, the actual data may vary and will be incorporated in the report.

By Product Type

  • Assays, Kits, & Reagents
  • Software & Services

By Technology

  • Immunohistochemistry
  • Polymerase Chain Reaction (PCR)
  • Next Generation Sequencing (NGS)
  • In Situ Hybridization (ISH)
  • Others

By Indication

  • Cancer
    • Breast Cancer
    • Lung Cancer
    • Melanoma
    • Colorectal Cancer
    • Gastric Cancer
    • Others
  • Neurological Diseases
  • Infectious Diseases
  • Cardiovascular Diseases
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa
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Note: This report provides an in-depth analysis of the global companion diagnostics market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2025), considering 2019, as the base year.

  • What are the trends adopted by key players in the global companion diagnostics market?
  • What key factors are expected to increase the demand for companion diagnostics market during the forecast period 2020-2025?
  • What are the major challenges inhibiting the growth of the global companion diagnostics market?
  • What is the total market value (US$ Mn) generated in the global companion diagnostics market by technology in 2019, and what are the forecasts by 2025?
  • Which indication is expected to dominate the global companion diagnostics market in the coming years?
  • Which product type contributes highest CAGR (%) in the companion diagnostics market?
  • What was the total revenue generated by the global companion diagnostics market across different regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa) in 2019, along with CAGR (%) for the period (2020-2025)?
  • Who are the key players contributing to the growth of the global companion diagnostics market, and what are the new strategies adopted by them to retain a market share in the industry?
  • What is the competitive strength of the key players in the global companion diagnostics market?
  • What are the major outcomes derived from Porter’s five forces?
  • What are the new products which are going to be approved or launched in the upcoming years, which may have a huge impact on the market?
  • What insights are derived through the analysis of key players on the following parameters: company overview, financial performance, product portfolio, geographical presence, key highlights, and strategies?

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