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

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

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• Global Market for Companion Diagnostics

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