Dublin, Aug. 20, 2020 (GLOBE NEWSWIRE) -- The "Companion Diagnostics Market by Product & Service (Assay, Kit, Software & Service), Technology (PCR, NGS, ISH, IHC), Indication (Breast, Lung & Gastric Cancer, Neurological Disease), End-User (Pharma Companies, CRO), Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global companion diagnostics market is projected to reach USD 6,843.2 million by 2025 from USD 3,727.7 million in 2020, at a CAGR of 12.9% during the forecast period.
The growth of the companion diagnostics industry is tied primarily to its various advantages, the growing need for targeted therapy, the increasing importance of personalized medicine. Moreover, the increasing global incidence of cancer, ever-increasing application areas of companion diagnostics, rising demand for next-generation sequencing, the growing significance of companion diagnostics in drug development, and the increasing number of clinical trials are expected to present growth opportunities for players in the market. However, the high cost of companion diagnostic tests and the uncertain reimbursement scenario in different regions affect market growth to a certain extent during the forecast period.
Cancer segment to witness the highest growth during the forecast period
The cancer segment is estimated to grow at the highest CAGR during the forecast period. This can be attributed primarily to the increasing global incidence of cancer, the growing role of companion diagnostics in personalized medicine treatment for cancer, the rising utility of biomarkers in the diagnosis of cancer, technological advancements in cancer diagnostics at the molecular level, and the availability of funding for cancer research.
Pharmaceutical & biopharmaceutical companies segment to grow at the highest CAGR in the companion diagnostics market, by end-user
The major factors driving the demand for pharmaceutical & biopharmaceutical companies in companion diagnostics are growing prominence in drug development and the growing importance of companion diagnostic biomarkers. The increasing demand for personalized medicine as well as the high demand for targeted therapies for various diseases and disorders are also expected to drive the demand and uptake of companion diagnostics among pharmaceutical & biopharmaceutical companies.
APAC market to witness the highest growth during the forecast period
The Asia Pacific is estimated to be the fastest-growing regional market for companion diagnostics during the forecast period. The high incidence of cancer, growing proteomics & genomics research, increasing research funding, rising investments by pharmaceutical and biotechnology companies, and growing awareness about personalized therapeutics in several APAC countries are some of the major factors driving the growth of this market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Companion Diagnostics Market Overview
4.2 Asia-Pacific: Companion Diagnostics Market, by End-user (2019)
4.3 Regional Mix: Companion Diagnostics Market
4.4 Companion Diagnostics Market: Developed Vs. Developing Countries
4.5 Geographical Snapshot of the Companion Diagnostics Market
5 Market Overview
5.2 Market Dynamics
188.8.131.52 Advantages of Companion Diagnostics
184.108.40.206 Growing Need for Targeted Therapy
220.127.116.11 Growing Importance of Personalized Medicine
18.104.22.168 Increasing Global Incidence of Cancer
22.214.171.124 Growing Application Areas of Companion Diagnostics
126.96.36.199 High Cost of Companion Diagnostic Tests
188.8.131.52 Uncertain Reimbursement Scenario in Different Regions
184.108.40.206 Increasing Demand for Next-Generation Sequencing
220.127.116.11 Growing Significance of Companion Diagnostics in Drug Development
18.104.22.168 Increasing Number of Clinical Trials
22.214.171.124 Impact of the COVID-19 Pandemic
126.96.36.199 Shortage of Trained Professionals
6 Industry Insights
6.2 Industry Trends
6.2.1 Impact of the COVID-19 Pandemic on the Companion Diagnostics Market
6.2.2 Growing Focus on Liquid Biopsy in Companion Diagnostics
6.2.3 Increasing Collaborations
6.3 Regulatory Analysis
6.3.1 North America
6.4 Product Pipeline Analysis
7 Companion Diagnostics Market, by Product & Service
7.2 Impact of COVID-19 on the Demand and Supply of Companion Diagnostic Products & Services
7.3 Assays, Kits, and Reagents
7.3.1 Increasing Volume of Cdx Tests Performed in Laboratories to Support the Adoption of Assays & Kits
7.4 Software & Services
7.4.1 Need for Effective Data Management Software Within Laboratories to Contribute to Market Growth
8 Companion Diagnostics Market, by Technology
8.2 Impact of COVID-19 on the Companion Diagnostic Technology Market
8.3 Polymerase Chain Reaction (Pcr)
8.3.1 Growing Applications of Pcr Technologies in Personalized Medicine and Companion Diagnostics to Drive Growth
8.4 Next-Generation Sequencing (Ngs)
8.4.1 Ngs Segment to Grow at Highest CAGR During Forecast Period
8.5 in Situ Hybridization (Ish)
8.5.1 Advancements in Ish and Its Demand in Small-Tumor Diagnostics to Drive Growth
8.6 Immunohistochemistry (Ihc)
8.6.1 Increasing Demand for User-Friendly and Cost-Effective Technologies in Cdx to Support Growth in this Segment
8.7 Other Technologies
9 Companion Diagnostics Market, by Indication
9.2 Impact of COVID-19 on Various Indications in the Companion Diagnostics Market
9.3.1 Breast Cancer
188.8.131.52 Breast Cancer is the Most Common Cancer Among Women-A Key Factor Contributing to the Large Share of this Market Segment
9.3.2 Lung Cancer
184.108.40.206 Growing Demand for Therapeutic Drugs and Their High Efficacy in the Treatment of Lung Cancer to Increase Cdx Adoption
9.3.3 Colorectal Cancer
220.127.116.11 Growing Need for Molecular Profiling of Primary Tumors in Colorectal Cancer to Drive Growth in this Market Segment
18.104.22.168 Growing Incidence of Melanoma Drives the Demand for Companion Diagnostics
9.3.5 Gastric Cancer
22.214.171.124 Increasing Focus of Market Players on the Development of Tests and Kits for Gastric Cancer Indications to Drive Market Growth
9.4 Infectious Diseases
9.4.1 Growing Focus of Companion Diagnostic Players on Orphan Indications to Propel the Growth of this Segment
9.5 Cardiovascular Diseases
9.5.1 Growing Demand for Targeted Therapies Due to High Incidence of Cardiovascular Diseases to Drive Growth
9.6 Neurological Diseases
9.6.1 Growing Number of Diagnostic Technologies for the Treatment of Neurological Diseases to Boost the Adoption of Companion Diagnostics
9.7 Other Indications
10 Companion Diagnostics Market, by End-user
10.2 Impact of COVID-19 on the End-users in the Companion Diagnostics Market
10.3 Pharmaceutical & Biopharmaceutical Companies
10.3.1 Wide Usage of Cdx in Pharmaceutical & Biopharmaceutical Companies to Drive Market Growth
10.4 Reference Laboratories
10.4.1 Growing Incidence of and Rising Demand for Targeted Therapies to Drive Growth
10.5 Contract Research Organizations
10.5.1 Cros Offer a Complete Range of Companion Diagnostic Services to Targeted Therapy-Related Clinical Trials
10.6 Other End-users
11 Companion Diagnostics Market, by Region
11.2 Impact of COVID-19 on Various Regions in the Companion Diagnostics Market
11.3 North America
11.6 Latin America
11.7 Middle East & Africa
12 Competitive Landscape
12.2 Market Share Analysis
12.3 Competitive Leadership Mapping, 2019
12.4 Vendor Inclusion Criteria
12.5 Vendor Dive
12.5.2 Emerging Leaders
12.5.3 Emerging Companies
12.5.4 Pervasive Players
12.6 Competitive Situations and Trends
12.6.1 Partnerships, Collaborations, and Agreements
13 Company Profiles
13.1 F. Hoffmann-La Roche AG
13.2 Agilent Technologies, Inc.
13.3 Qiagen N.V.
13.4 Thermo Fisher Scientific, Inc.
13.5 Abbott Laboratories, Inc.
13.6 Almac Group
13.7 Danaher Corporation
13.8 Illumina Inc.
13.9 Biomrieux Sa
13.10 Myriad Genetics, Inc.
13.11 Sysmex Corporation
13.12 Abnova Corporation
13.13 Guardant Health, Inc.
13.14 Icon plc
13.15 Biogenex Laboratories, Inc.
13.16 Other Companies
13.16.1 Invivoscribe Technologies
13.16.2 Archerdx, Inc.
13.16.3 Ng Biotech
13.16.4 Q Solutions
13.16.5 Amoy Diagnostics Co. Ltd.
14 Adjacent and Related Markets Chapter
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