Companion Diagnostic Market, by Application (Lung Cancer, Breast Cancer, Colorectal Cancer, Gastric Cancer, Melanoma, and Others), by Technology (Real Time-Polymerase Chain Reaction (PCR), Gene Sequencing, Fluorescence in situ Hybridization, and Others),

Companion Diagnostic Market, by Application (Lung Cancer, Breast Cancer, Colorectal Cancer, Gastric Cancer, Melanoma, and Others), by Technology (Real Time-Polymerase Chain Reaction (PCR), Gene Sequencing, Fluorescence in situ Hybridization, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Companion diagnostic is a diagnostic tool used by healthcare professionals to determine whether a particular therapeutic product is the suitability for the patient to outweigh any potential side effects of the therapeutic product. Companion diagnostic is advancing the course of patient care in the field of oncology sue to proper evaluation of therapeutic product and its efficiency towards the cancer patients. All the patients suffering from cancer are not able to be treated with immunotherapy. In such cases, companion diagnostics play an important role in helping physicians to identify the efficient targeted therapy for such cancer patients.
Market Dynamics
Robust product pipeline, increasing approval of companion diagnostic procedures, and high outsourcing of funds by companies for the development of companion diagnostic are the factors driving the global companion diagnostic market growth. For instance, in March 2021, F. Hoffmann-La Roche Ltd received the U.S. Food and Drug Administration (FDA) approval for the VENTANA PD-L1 (SP142) Assay, which is the first companion diagnostic to aid in identifying triple-negative breast cancer (TNBC) patient eligible for treatment with the Roche cancer immunotherapy Tecentriq (atezolizumab) plus chemotherapy.
Moreover, increasing incidence of cancer globally is also driving growth of the global companion diagnostic market. For instance, in September 2018, according to the Globocan 2018 report, Europe held the second position in new cancer cases and accounted for 23% and around 3,911,317 new cases of cancer.
Increasing investment in the research and development by pharmaceutical and biotechnological companies targeting major chronic diseases such as cancer, cardiovascular disease, neurological disease, and respiratory disease is expected to drive the companion diagnostic market growth over the forecast period. For instance, in 2018, Abbott Molecular, Inc received approval from the U.S. Food Drug and Administration for Abbott real time IDHI, an in vitro polymerase chain reaction assay for detection of IDHI R123 mutations for identifying acute myeloid leukemia with treatment therapy of TIBSOVO.
Key features of the study:
This report provides in-depth analysis of the global companion diagnostic market, and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2022 - 2028), considering 2021 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new drug launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global companion diagnostic market based on the following parameters – company overview, financial performance, drugs portfolio, market presence, distribution strategies, key developments, strategies, and future plans
Key companies covered as a part of this study include 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, Guardant Health, Inc., Icon Plc, and Biogenex Laboratories, Inc
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future drug launches, drug class up-gradation, market expansion, and marketing tactics
The global companion diagnostic market report caters to various stakeholders in this industry including investors, suppliers, device manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global companion diagnostic market
Detailed Segmentation:
Global Companion Diagnostic Market, By Application :
Lung Cancer
Breast Cancer
Colorectal Cancer
Gastric Cancer
Melanoma
Others
Global Companion Market, By Technology :
Real Time- Polymerase Chain Reactions (PCR)
Gene Sequencing
Fluorescence in-situ Hybridization
Others
Global Companion Diagnostic Market , By Region:
North America
By Application:
Lung Cancer
Breast Cancer
Colorectal Cancer
Gastric Cancer
Others
Others
By Technology :
Real Time Polymerase Chain Reaction (PCR)
Generation Sequencing
Fluorescence in- situ Hybridization
Others
By Country:
U.S.
Canada
Latin America
By Application:
Lung Cancer
Breast Cancer
Colorectal Cancer
Gastric Cancer
Others
Others
By Technology :
Real Time Polymerase Chain Reaction (PCR)
Generation Sequencing
Fluorescence in- situ Hybridization
Others
By Country:
Brazil
Mexico
Argentina
Rest of Latin America
Europe
By Application:
Lung Cancer
Breast Cancer
Colorectal Cancer
Gastric Cancer
Others
Others
By Technology :
Real Time Polymerase Chain Reaction (PCR)
Generation Sequencing
Fluorescence in- situ Hybridization
Others
By Country:
Germany
U.K.
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
By Application:
Lung Cancer
Breast Cancer
Colorectal Cancer
Gastric Cancer
Others
Others
By Technology :
Real Time Polymerase Chain Reaction (PCR)
Generation Sequencing
Fluorescence in- situ Hybridization
Others
By Country:
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
By Application:
Lung Cancer
Breast Cancer
Colorectal Cancer
Gastric Cancer
Others
Others
By Technology :
Real Time Polymerase Chain Reaction (PCR)
Generation Sequencing
Fluorescence in- situ Hybridization
Others
By Country/Region:
GCC
Israel
Rest of Middle East
Africa
By Application:
Lung Cancer
Breast Cancer
Colorectal Cancer
Gastric Cancer
Others
Others
By Technology :
Real Time Polymerase Chain Reaction (PCR)
Generation Sequencing
Fluorescence in- situ Hybridization
Others
By Country/Region:
South Africa
Central Africa
North Africa
Company Profiles
Hoffmann-La Roche AG *
Company Overview
Product Portfolio
Financial Performance
Key Highlights
Market Strategies
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
Guardant Health, Inc
Icon Plc
Biogenex Laboratories, Inc.
“*” marked represents similar segmentation in other categories in the respective section.