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Companion Diagnostics Global Market Report 2023: Growing Significance of Personalized Medicine Remains a Major Market Driver

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Global Market for Companion Diagnostics

Global Market for Companion Diagnostics
Global Market for Companion Diagnostics

Dublin, March 10, 2023 (GLOBE NEWSWIRE) -- The "Companion Diagnostics: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Companion Diagnostics Market to Reach $13.8 Billion by 2030

In the changed post COVID-19 business landscape, the global market for Companion Diagnostics estimated at US$7.9 Billion in the year 2022, is projected to reach a revised size of US$13.8 Billion by 2030, growing at a CAGR of 7.2% over the analysis period 2022-2030. Assay kits & Reagents, one of the segments analyzed in the report, is projected to record 6.3% CAGR and reach US$8.7 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Software & Services segment is readjusted to a revised 9.1% CAGR for the next 8-year period.

The U.S. Market is Estimated at $2.3 Billion, While China is Forecast to Grow at 6.7% CAGR

The Companion Diagnostics market in the U.S. is estimated at US$2.3 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.4 Billion by the year 2030 trailing a CAGR of 6.7% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.8% and 4.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 2.3% CAGR.

Select Competitors (Total 47 Featured) -

  • Abbott Molecular

  • Agilent Technologies, Inc.

  • bioMerieux SA

  • Cepheid

  • Danaher Corporation

  • F. Hoffmann-La Roche Ltd.

  • Foundation Medicine Inc.

  • Laboratory Corporation of America Holdings

  • Leica Biosystems Nussloch GmbH

  • Merck & Co. Inc.

  • Myriad Genetics Inc.

  • NeoGenomics Laboratories, Inc.

  • QIAGEN N.V.

  • Quest Diagnostics Inc.

  • Thermo Fischer Scientific Inc.

What`s New for 2023?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.

  • Global competitiveness and key competitor percentage market shares

  • Market presence across multiple geographies - Strong/Active/Niche/Trivial

  • Online interactive peer-to-peer collaborative bespoke updates

  • Access to digital archives and Research Platform

  • Complimentary updates for one year

Key Attributes:

Report Attribute

Details

No. of Pages

196

Forecast Period

2020 - 2027

Estimated Market Value (USD) in 2020

$8 Billion

Forecasted Market Value (USD) by 2027

$19.5 Billion

Compound Annual Growth Rate

13.6%

Regions Covered

Global


Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights

  • World Market Trajectories

  • Impact of Covid-19 and a Looming Global Recession

  • Companion Diagnostics: An Introductory Prelude

  • Quashing the One-Size-Fits-All Approach, CDx Wield Great Promise for Streamlined Drug Discovery & Development

  • Broader Scope and Applications Rev Up Growth Opportunities

  • Healthy Growth Projected over the Next Few Years

  • Developed Regions: Key Revenue Contributors

  • Market Witnesses Fast Paced Growth in Developing Regions

  • Northbound Trajectory in R&D Spending Creates Conducive Environment

  • Prevailing Economic Scenario Favors Funding Pattern

  • Companion Diagnostics - Global Key Competitors Percentage Market Share in 2022 (E)

  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Growing Significance of Personalized Medicine Remains a Major Market Driver

  • Emphasis on Improving Targeted Therapies with CDx Tests Steers Momentum

  • Herceptin Lays the Road for Companion Diagnostics

  • Oncology - Dominant Therapy Area for CDx

  • Rising Incidence of Cancer Propels the Need for CDx Tests

  • Technology Advancements to Widen CDx Use Case

  • PCR: Dominant Technology Type for CDx Testing

  • Next-Generation Sequencing (NGS) Gains Widespread Traction in CDx Testing

  • Significant Role of Biomarkers in Companion Diagnostics

  • Critical Healthcare Needs of Aging Population Underpin CDx Sales

  • Regulatory Scenario Favors CDx Market

  • Resolving Prevailing Challenges: Critical for Future Growth of CDx Market

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

A selection of companies mentioned in this report includes

  • Abbott Molecular

  • Agilent Technologies, Inc.

  • bioMerieux SA

  • Cepheid

  • Danaher Corporation

  • F. Hoffmann-La Roche Ltd.

  • Foundation Medicine Inc.

  • Laboratory Corporation of America Holdings

  • Leica Biosystems Nussloch GmbH

  • Merck & Co. Inc.

  • Myriad Genetics Inc.

  • NeoGenomics Laboratories, Inc.

  • QIAGEN N.V.

  • Quest Diagnostics Inc.

  • Thermo Fischer Scientific Inc.

For more information about this report visit https://www.researchandmarkets.com/r/2pu67i

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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