North America Companion Diagnostics Market 2022-2028
MARKET OUTLOOK
According to Triton Market Research, the companion diagnostics market in North America is evaluated to attain a compound annual growth rate of 12.96% over the forecasting years 2022 to 2028. The United States and Canada shape the market in the region.
In Canada, several public and private initiatives are expected to widen the scope of the studied market, despite limited healthcare policy. For instance, the Alliance for Innovation in Molecular Diagnostics is working to improve the companion diagnostics innovation environment. The initiatives also aim to decrease the lack of clarity on how decision-makers prioritize the CDx tests by highlighting the interprovincial regulations that deter CDx development and adoption.
Furthermore, HTA agencies, government agencies, and hospitals strive to promote CDx applications by providing reimbursements. Above all, innovative clinical trials, increased R&D investments, and healthcare plans are anticipated to fuel the Canadian companion diagnostics market’s growth over the forecast period.
In the US, the rapid evolution of diagnostics technologies and investments are increasing the demand for advanced diagnostic testing. Moreover, the recent developments favoring comprehensive CDx tests to gain the necessary information to make therapeutic decisions are responsible for propelling the companion diagnostics market on a growth path.
COMPETITIVE OUTLOOK
The notable companies thriving in the companion diagnostics market include Almac Group, GE Healthcare, Roche Diagnostics, Sysmex Corporation, and Abbott Laboratories.
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