Oncology Companion Diagnostic Market Size, Trends, Analysis, and Outlook By Product & Services (Product, Service ), By Technology (Polymerase chain reaction (PCR), Next-generation sequencing (NGS), Immunohistochemistry (IHC), In situ hybridization (ISH),

Oncology Companion Diagnostic Market Size, Trends, Analysis, and Outlook By Product & Services (Product, Service ), By Technology (Polymerase chain reaction (PCR), Next-generation sequencing (NGS), Immunohistochemistry (IHC), In situ hybridization (ISH), Fluorescence in situ hybridization (FISH), Others), By Disease Type (Breast cancer, Non-small cell lung cancer, Colorectal cancer, Leukemia, Melanoma, Prostate cancer, Others), By End-user (Hospital, Pathology/Diagnostic laboratory, Academic medical center), by Region, Country, Segment, and Companies, 2024-2030

The global Oncology Companion Diagnostic market size is poised to register 13.7% growth from 2024 to 2030, presenting significant growth prospects for companies operating in the industry. The industry study analyzes the global Oncology Companion Diagnostic market across By Product & Services (Product, Service ), By Technology (Polymerase chain reaction (PCR), Next-generation sequencing (NGS), Immunohistochemistry (IHC), In situ hybridization (ISH), Fluorescence in situ hybridization (FISH), Others), By Disease Type (Breast cancer, Non-small cell lung cancer, Colorectal cancer, Leukemia, Melanoma, Prostate cancer, Others), By End-user (Hospital, Pathology/Diagnostic laboratory, Academic medical center).

The Oncology Companion Diagnostic Market is experiencing growth driven by the increasing adoption of companion diagnostics in precision oncology and personalized cancer treatment, and the advancements in molecular diagnostics and genomic profiling technologies for biomarker identification and patient stratification. Oncology companion diagnostics are in vitro diagnostic tests that help healthcare providers identify patients who are likely to benefit from specific targeted therapies or immunotherapies based on their tumor molecular profiles or genetic mutations. Key trends shaping its future include the development of multiplex and next-generation sequencing (NGS) panels for comprehensive tumor profiling and biomarker discovery, the integration of liquid biopsy and circulating tumor DNA (ctDNA) assays for non-invasive cancer detection and treatment monitoring, and the customization of companion diagnostic assays with regulatory-approved companion drugs and therapeutic combinations for companion diagnostic-guided therapy selection. Moreover, factors such as the increasing investment in precision oncology and biomarker-driven drug development, the regulatory approvals of companion diagnostics for targeted cancer therapies and breakthrough oncology drugs, and the collaborations between diagnostic companies and pharmaceutical manufacturers to co-develop companion diagnostic assays are expected to drive market growth in 2024 and beyond.

Oncology Companion Diagnostic Market Drivers, Trends, Opportunities, and Growth Opportunities

This comprehensive study discusses the latest trends and the most pressing challenges for industry players and investors. The Oncology Companion Diagnostic market research analyses the global market trends, key drivers, challenges, and opportunities in the industry. In addition, the latest Future of Oncology Companion Diagnostic survey report provides the market size outlook across types, applications, and other segments across the world and regions. It provides data-driven insights and actionable recommendations for companies in the Oncology Companion Diagnostic industry.

Key market trends defining the global Oncology Companion Diagnostic demand in 2024 and Beyond

The industry continues to remain an attractive hub for opportunities for both domestic and global vendors. As the market evolves, factors such as emerging market dynamics, demand from end-user sectors, a growing patient base, changes in consumption patterns, and widening distribution channels continue to play a major role.

Oncology Companion Diagnostic Market Segmentation- Industry Share, Market Size, and Outlook to 2030

The Oncology Companion Diagnostic industry comprises a wide range of segments and sub-segments. The rising demand for these product types and applications is supporting companies to increase their investment levels across niche segments. Accordingly, leading companies plan to generate a large share of their future revenue growth from expansion into these niche segments. The report presents the market size outlook across segments to support Oncology Companion Diagnostic companies scaling up production in these sub-segments with a focus on expanding into emerging countries.

Key strategies adopted by companies within the Oncology Companion Diagnostic industry

Leading Oncology Companion Diagnostic companies are boosting investments to capitalize on untapped potential and future possibilities across niche market segments and surging demand conditions in key regions. Further, companies are leveraging advanced technologies to unlock opportunities and achieve operational excellence. The report provides key strategies opted for by the top 10 Oncology Companion Diagnostic companies.

Oncology Companion Diagnostic Market Study- Strategic Analysis Review

The Oncology Companion Diagnostic market research report dives deep into the qualitative factors shaping the market, empowering you to make informed decisions-

• Industry Dynamics: Porter's Five Forces analysis to understand bargaining power, competitive rivalry, and threats that impact long-term strategy formulation.
• Strategic Insights: Provides valuable perspectives on key players and their approaches based on comprehensive strategy analysis.
• Internal Strengths and Weaknesses: Develop targeted strategies to leverage strengths, address weaknesses, and capitalize on market opportunities.
• Future Possibilities: Prepare for diverse outcomes with in-depth scenario analysis. Explore potential market disruptions, technology advancements, and economic changes.

Oncology Companion Diagnostic Market Size Outlook- Historic and Forecast Revenue in Three Cases

The Oncology Companion Diagnostic industry report provides a detailed analysis and outlook of revenue generated by companies from 2018 to 2023. Further, with actual data for 2023, the report forecasts the market size outlook from 2024 to 2030 in three case scenarios- low case, reference case, and high case scenarios.

Oncology Companion Diagnostic Country Analysis and Revenue Outlook to 2030

The report analyses 22 countries worldwide including the key driving forces and market size outlook from 2021 to 2030. In addition, region analysis across Asia Pacific, Europe, the Middle East, Africa, North America, and South America is included in the study. For each of the six regions, the market size outlook by segments is forecast for 2030.

North America Oncology Companion Diagnostic Market Size Outlook- Companies plan for focused investments in a changing environment

The US continues to remain the market leader in North America, driven by a large consumer base, the presence of well-established providers, and a strong end-user industry demand. Leading companies focus on new product launches in the changing environment. The US economy is expected to grow in 2024 (around 2.2% growth in 2024), potentially driving demand for various Oncology Companion Diagnostic market segments. Similarly, Strong end-user demand is encouraging Canadian Oncology Companion Diagnostic companies to invest in niche segments. Further, as Mexico continues to strengthen its trade relations and invest in technological advancements, the Mexico Oncology Companion Diagnostic market is expected to experience significant expansion, offering lucrative opportunities for both domestic and international stakeholders.

Europe Oncology Companion Diagnostic Market Size Outlook-Companies investing in assessing consumers, categories, competitors, and capabilities

The German industry remains the major market for companies in the European Oncology Companion Diagnostic industry with consumers in Germany, France, the UK, Spain, Italy, and others anticipated to register a steady demand throughout the forecast period, driving the overall market prospects. In addition, the proactive approach of businesses in identifying and leveraging new growth prospects positions the European Oncology Companion Diagnostic market for an upward trajectory, fostering both domestic and international interest. Leading brands operating in the industry are emphasizing effective marketing strategies, innovative product offerings, and a keen understanding of consumer preferences.

Asia Pacific Oncology Companion Diagnostic Market Size Outlook- an attractive hub for opportunities for both local and global companies

The increasing prevalence of indications, robust healthcare expenditure, and increasing investments in healthcare infrastructure drive the demand for Oncology Companion Diagnostic in Asia Pacific. In particular, China, India, and South East Asian Oncology Companion Diagnostic markets present a compelling outlook for 2030, acting as a magnet for both domestic and multinational manufacturers seeking growth opportunities. Similarly, with a burgeoning population and a rising middle class, India offers a vast consumer market. Japanese and Korean companies are quickly aligning their strategies to navigate changes, explore new markets, and enhance their competitive edge. Our report utilizes in-depth interviews with industry experts and comprehensive data analysis to provide a comprehensive outlook of 6 major markets in the region.

Latin America Oncology Companion Diagnostic Market Size Outlook- Continued urbanization and rising income levels

Rising income levels contribute to greater purchasing power among consumers, spurring consumption and creating opportunities for market expansion. Continued urbanization and rising income levels are expected to sustainably drive consumption growth in the medium to long term.

Middle East and Africa Oncology Companion Diagnostic Market Size Outlook- continues its upward trajectory across segments

Robust demand from Middle Eastern countries including Saudi Arabia, the UAE, Qatar, Kuwait, and other GCC countries supports the overall Middle East Oncology Companion Diagnostic market potential. Fueled by increasing healthcare expenditure of individuals, growing population, and high prevalence across a few markets drives the demand for Oncology Companion Diagnostic.

Oncology Companion Diagnostic Market Company Profiles

The global Oncology Companion Diagnostic market is characterized by intense competitive conditions with leading companies opting for aggressive marketing to gain market shares. The report presents business descriptions, SWOT analysis, growth strategies, and financial profiles. Leading companies included in the study are Abbott, Agilent Technologies Inc, ARUP Laboratories, bioMérieux SA, F. Hoffmann-La Roche Ltd, Illumina Inc, Invivoscribe Inc, Myriad Genetics Inc, QIAGEN N.V., Roche Ltd, Thermo Fisher Scientific Inc

Recent Oncology Companion Diagnostic Market Developments

The global Oncology Companion Diagnostic market study presents recent market news and developments including new product launches, mergers, acquisitions, expansions, product approvals, and other updates in the industry.

Oncology Companion Diagnostic Market Report Scope

Parameters: Revenue, Volume Price

Study Period: 2023 (Base Year); 2018- 2023 (Historic Period); 2024- 2030 (Forecast Period)

Currency: USD; (Upon request, can be provided in Euro, JPY, GBP, and other Local Currency)

Qualitative Analysis

• Pricing Analysis
• Value Chain Analysis
• SWOT Profile
• Market Dynamics- Trends, Drivers, Challenges
• Porter’s Five Forces Analysis
• Macroeconomic Impact Analysis
• Case Scenarios- Low, Base, High

Market Segmentation:

By Product & Service

Product

-Instrument

-Consumables

-Software

Service

By Technology

Polymerase chain reaction (PCR)

Next-generation sequencing (NGS)

Immunohistochemistry (IHC)

In situ hybridization (ISH)/Fluorescence in situ hybridization (FISH)

Others

By Disease Type

Breast cancer

Non-small cell lung cancer

Colorectal cancer

Leukemia

Melanoma

Prostate cancer

Others

By End-user

Hospital

Pathology/Diagnostic laboratory

Academic medical center

Geographical Segmentation:

• North America (3 markets)
• Europe (6 markets)
• Asia Pacific (6 markets)
• Latin America (3 markets)
• Middle East Africa (5 markets)

Companies

Abbott

Agilent Technologies Inc

ARUP Laboratories

bioMérieux SA

F. Hoffmann-La Roche Ltd

Illumina Inc

Invivoscribe Inc

Myriad Genetics Inc

QIAGEN N.V.

Roche Ltd

Thermo Fisher Scientific Inc

Formats Available: Excel, PDF, and PPT