Companion Diagnostics Market Size, Share, By Offerings (Products and Services), Technology (Polymerase Chain Reaction (PCR), Next-generation Sequencing (NGS), Immunohistochemistry (IHC), Fluorescence In Situ Hybridization (FISH), and, Others), Therapeutic

Companion Diagnostics Market Size, Share, By Offerings (Products and Services), Technology (Polymerase Chain Reaction (PCR), Next-generation Sequencing (NGS), Immunohistochemistry (IHC), Fluorescence In Situ Hybridization (FISH), and, Others), Therapeutic Area (Oncology, Immunology, Neurology, Autoimmune, Cardiovascular, Infectious Disease, and Others), End-User (Pharmaceutical & Biotechnological Companies, Contract Research Laboratories, Diagnostics Laboratories, and Others), and Region - Trends, Analysis, and Forecast till 2035

Companion diagnostics market is projected to grow from US$ 3.6 Billion in 2020 to US$ 9.8 billion by 2029. Rising number of approvals for companion diagnostic devices by health authorities for treatment of different diseases is a key factor driving growth of the companion diagnostics market. In addition, in 2017, for instance, US FDA approved a companion diagnostic genetic test to select patients with metastatic colorectal cancer for treatment with the drug Vectibix. Furthermore, increasing number of cases of cancer over the globe is other factor expected to fuel growth of the target market. Increasing demand for next-generation sequencing (NGS) and clinical trials to boost the adoption of companion diagnostics are in turn factors expected to create lucrative opportunities for the players operating in the companion diagnostics market.

Key Highlights:

• In May 2018, for instance, QIAGEN N.V. and Freenome Inc.; major players of the target market, has collaborated in order to improve companion diagnostic development.

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Key Market Insights from the report:

The companion diagnostics market accounted for US$ 3.6 Billion in 2020 and is projected to register a CAGR of 11.9% over the forecast period. The market report has been segmented on the basis of technology, therapeutic area, and region.

• By technology, the in situ hybridization (ISH) is a segment accounted for major revenue share in 2018, owing to its excellent properties such as reliability, reproducibility, sensitivity, and accuracy in comparison to other techniques.
• By therapeutic area, the oncology segment is accounted for major revenue share in 2018 due to increasing prevalence of various types of cancer, surge in cancer research, and rise in geriatric population globally.
• By region, North America companion diagnostics market accounted for major revenue share in the companion diagnostics market and is further anticipated to maintain its dominance over the forecast period. This is attributed to presence of well established companion diagnostics brands in the countries in the region. Well-developed healthcare infrastructure and increasing number of product approvals by the US FDA and Health Canada in the region are some major factors expected to support growth of the North America market over the forecast period. The market in Europe is expected to account for second-highest revenue share in 2018.

Segmentation:

By Offering:

• Product
• Assays
• Test Kits and Reagent
• Services
• Development Services
• Analytical and Clinical Validation

By Technology

• Polymerase Chain Reaction (PCR)
• Next-generation Sequencing (NGS)
• Immunohistochemistry (IHC)
• Fluorescence in Situ Hybridization (FISH)
• Others

By Therapeutic Area:

• Oncology
• Immunology
• Neurology
• Autoimmune
• Cardiovascular
• Infectious Disease
• Others

By End-User:

• Pharmaceutical & Biotechnological Companies
• Contract Research Laboratories
• Diagnostics Laboratories
• Others

By Region:

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• Indonesia
• Malaysia
• South Korea
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Argentina
• Rest of Latin America
• Middle East & Africa
• GCC
• Israel
• South Africa
• Rest of Middle East & Africa

Companion Diagnostics Market By Competitive Landscape

• Foundation Medicine, Inc.
• F. Hoffmann-La Roche Ltd
• Agilent Technologies, Inc.
• QIAGEN
• Thermo Fisher Scientific Inc.
• Abbott
• Illumina, Inc
• Myriad Genetics, Inc.
• BIOMÉRIEUX
• BioGenex
• Guardant Health
• Labcorp
• Quest Diagnostics Incorporated
• Sysmex Corporation

Key Questions Answered in This Report

What was the size of the Companion Diagnostics Market in 2024?

2. What is the expected growth rate of the Companion Diagnostics Market during 2025-2035?

3. What are the key factors driving the Companion Diagnostics Market?

4. What is the breakup of the Companion Diagnostics Market based on the distribution channel?

5. What are the key regions in the Companion Diagnostics Market?

6. Who are the key players/companies in the Companion Diagnostics Market?

7. What are the drivers, restraints, and opportunities in the Companion Diagnostics Market?