Europe Companion Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Europe Companion Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The growth of the companion diagnostics market can be attributed to the increasing focus on personalized medicine and co-development of drug and diagnostic technologies. In addition, rising cases of adverse drug reactions related to drugs drive the need for companion diagnostics. The European market is driven by factors, such as improved efficacy/safety profiles of drugs, accelerated drug regulatory approvals, reduced healthcare expenditure and drug development costs, and increasing partnerships between market players and government organizations.

Oncology is one of the primary areas that has significantly benefitted due to the advent of companion diagnostics. Companion diagnostics have been highly beneficial in identifying patients with specific biomarkers that are predictive of responses. Companion diagnostics has the power to predict the response of any particular therapy targeted for a specific person, which, in turn, results in better patient treatments and the reduction of healthcare expenditure.

Key Market TrendsImmunohistochemistry Segment is Estimated to Register Robust Growth over the Forecast Period.

Immunohistochemistry (IHC) is the process of detecting antigens or proteins in tissue cells, by leveraging the principle of antibodies binding to specific antigens. Developing rigorous IHC assays for companion diagnostics, especially across oncology drug pipeline, has been a significant step and priority for many top pharmaceutical companies. The use of the therapeutic humanized monoclonal antibody, trastuzumab, for the treatment of metastatic breast cancer, was the first to involve the IHC-based companion diagnostics, i.e., the Hercep Test marketed by Genentech (Roche). This test was used to identify patients who overexpress the HER-2 receptor, and thus, target a specific group of patients who are likely to show clinical efficacy to the drug administered.

Competitive Landscape

The market is dominated by a few global players that compete primarily on the basis of technological innovations. Key market players include Abbott Laboratories, Agilent Technologies, Beckman Coulter Inc. (Danaher Corporation), BioMerieux SA, F. Hoffmann-La Roche AG, Qaigen Inc., Siemens Healthineers, and Thermo Fisher Scientific Inc., among others.

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• The market estimate (ME) sheet in Excel format
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Companies Mentioned

Abbott Laboratories
Agilent Technologies
Beckman Coulter Inc. (Danaher Corporation)
BioMerieux SA
F. Hoffmann
La Roche AG
Qaigen Inc.
Siemens Healthineers
Thermo Fisher Scientific Inc.

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