Global Companion Diagnostics Market Report 2021: Market to Reach $9.2 Billion by 2027 - U.S. Market is Estimated at $1 Billion, While China is Forecast to Grow at 14.6% CAGR

Dublin, Aug. 24, 2021 (GLOBE NEWSWIRE) -- The "Companion Diagnostics - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Companion Diagnostics Market to Reach $9.2 Billion by 2027

Amid the COVID-19 crisis, the global market for Companion Diagnostics estimated at US$3.4 Billion in the year 2020, is projected to reach a revised size of US$9.2 Billion by 2027, growing at a CAGR of 15.1% over the period 2020-2027.

Assay kits & Reagents, one of the segments analyzed in the report, is projected to record 14.3% CAGR and reach US$6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software & Services segment is readjusted to a revised 16.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1 Billion, While China is Forecast to Grow at 14.6% CAGR

The Companion Diagnostics market in the U.S. is estimated at US$1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.6 Billion by the year 2027 trailing a CAGR of 14.6% over the analysis period 2020 to 2027.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.5% and 13% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11.1% CAGR.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• 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

2. FOCUS ON SELECT PLAYERS (Total 80 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.

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

• Total Companies Profiled: 80

For more information about this report visit https://www.researchandmarkets.com/r/yn4tyo

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