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Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
Companion Diagnostics Market: By Application, By Technology, By End-User and Geography
Companion Diagnostics Market: By Application, By Technology, By End-User and Geography
Companion Diagnostics Market size was valued at US$ 8.2 billion in 2023 and is poised to grow at a CAGR of 10.9% from 2024-2030. Companion diagnostics are medical devices, often in-vitro device that provides the information that is essential for safe and effective use of the corresponding drug or biotechnology product. Companion diagnostics are often developed along with drugs to aid in selecting or excluding the patient groups for the treatment with particular drug on basis of their biological characteristics. Companion diagnostics are developed based on biomarkers technology to predict response or severe toxicity of the drugs or biotechnological compounds. Companion diagnostics are majorly used in the oncology area.
The market growth is highly fragmented due to the presence of several established large and small suppliers. The competition in the market will intensify during the forecast period as vendors adopt strategies like M&A to develop new technologies. Product approval and launch will also help to increase the volume of available diagnostic devices in the market. In addition, the vendors also work on differentiating their products based on quality, the accuracy of results, and other value-added services as it will help them to gain a competitive edge over their peers.
Study Period
2024-2030Base Year
2023CAGR
10.9%Largest Market
North-AmericaFastest Growing Market
Asia-Pacific
Some of the factors like improved efficacy and safety profiles of drugs, accelerated drug regulatory approvals, reduced healthcare expenditure and drug development costs, increasing partnerships between market players, government organizations and other research firms over the use of co diagnostics, emergence of new pharmaceuticals and diagnostics are driving the growth of the market. However, due to the regulatory uncertainty, complex clinical trial procedures and intellectual property issues in certain areas are the few issues which are restraining the growth.
Geographically, companion diagnostics market is segmented into five regions: North America, Europe, Latin America, Asia-Pacific and Middle East & Africa. North America expected to be major market for companion diagnostics owing to growth innovative technologies in biomarkers, increase in R&D investment in the region. Asia-Pacific and Europe are expected to grow at a significant rate owing to large patent and consumer base, increasing government initiatives developing healthcare infrastructure, and growing disposable income.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 8.2 billion |
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Market CAGR |
10.9% |
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By Application |
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By Technology |
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By End User |
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By Region |
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The global companion diagnostics market size was valued at US$ 8.2 billion in 2023 and is projected to grow at a CAGR of 10.9% from 2024-2030.
Pfizer Inc., (U.S), F. Hoffmann-La Roche Ltd.(Switzerland), Qiagen Ltd. (Germany), ARUP Laboratories (U.S.), Abbott Laboratories (U.S.), Biogenex Laboratories, Inc. (U.S.)
Asia Pacific is the fastest-growing region for companion diagnostics market
| 1.Executive Summary |
| 2.Global Companion Diagnostics Market Introduction |
| 2.1.Global Companion Diagnostics Market - Taxonomy |
| 2.2.Global Companion Diagnostics Market - Definitions |
| 2.2.1.Application |
| 2.2.2.Technology |
| 2.2.3.End User |
| 2.2.4.Region |
| 3.Global Companion Diagnostics Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Companion Diagnostics Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Companion Diagnostics Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Breast Cancer |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Colorectal Cancer |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Lung Cancer |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Urology |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Melanoma |
| 5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 5.6. Gastric Cancer |
| 5.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.6.3. Market Opportunity Analysis |
| 5.7. Others |
| 5.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.7.3. Market Opportunity Analysis |
| 6.Global Companion Diagnostics Market By Technology, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Immunohistochemistry |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Molecular Diagnostics |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. In-situ Hybridization |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. FISH |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. CISH |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Real-Time PCR |
| 6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 6.7. Gene Sequencing |
| 6.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.7.3. Market Opportunity Analysis |
| 7.Global Companion Diagnostics Market By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Hospitals |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Diagnostic Centres |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Others |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 8.Global Companion Diagnostics Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Companion Diagnostics Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Breast Cancer |
| 9.1.2.Colorectal Cancer |
| 9.1.3.Lung Cancer |
| 9.1.4.Urology |
| 9.1.5.Melanoma |
| 9.1.6.Gastric Cancer |
| 9.1.7.Others |
| 9.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Immunohistochemistry |
| 9.2.2.Molecular Diagnostics |
| 9.2.3.In-situ Hybridization |
| 9.2.4.FISH |
| 9.2.5.CISH |
| 9.2.6.Real-Time PCR |
| 9.2.7.Gene Sequencing |
| 9.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Hospitals |
| 9.3.2.Diagnostic Centres |
| 9.3.3.Others |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Companion Diagnostics Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Breast Cancer |
| 10.1.2.Colorectal Cancer |
| 10.1.3.Lung Cancer |
| 10.1.4.Urology |
| 10.1.5.Melanoma |
| 10.1.6.Gastric Cancer |
| 10.1.7.Others |
| 10.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Immunohistochemistry |
| 10.2.2.Molecular Diagnostics |
| 10.2.3.In-situ Hybridization |
| 10.2.4.FISH |
| 10.2.5.CISH |
| 10.2.6.Real-Time PCR |
| 10.2.7.Gene Sequencing |
| 10.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Hospitals |
| 10.3.2.Diagnostic Centres |
| 10.3.3.Others |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 10.4.6.Rest of EU |
| 11.Asia Pacific (APAC) Companion Diagnostics Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Breast Cancer |
| 11.1.2.Colorectal Cancer |
| 11.1.3.Lung Cancer |
| 11.1.4.Urology |
| 11.1.5.Melanoma |
| 11.1.6.Gastric Cancer |
| 11.1.7.Others |
| 11.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Immunohistochemistry |
| 11.2.2.Molecular Diagnostics |
| 11.2.3.In-situ Hybridization |
| 11.2.4.FISH |
| 11.2.5.CISH |
| 11.2.6.Real-Time PCR |
| 11.2.7.Gene Sequencing |
| 11.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Hospitals |
| 11.3.2.Diagnostic Centres |
| 11.3.3.Others |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Companion Diagnostics Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Breast Cancer |
| 12.1.2.Colorectal Cancer |
| 12.1.3.Lung Cancer |
| 12.1.4.Urology |
| 12.1.5.Melanoma |
| 12.1.6.Gastric Cancer |
| 12.1.7.Others |
| 12.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Immunohistochemistry |
| 12.2.2.Molecular Diagnostics |
| 12.2.3.In-situ Hybridization |
| 12.2.4.FISH |
| 12.2.5.CISH |
| 12.2.6.Real-Time PCR |
| 12.2.7.Gene Sequencing |
| 12.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Hospitals |
| 12.3.2.Diagnostic Centres |
| 12.3.3.Others |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Companion Diagnostics Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Breast Cancer |
| 13.1.2.Colorectal Cancer |
| 13.1.3.Lung Cancer |
| 13.1.4.Urology |
| 13.1.5.Melanoma |
| 13.1.6.Gastric Cancer |
| 13.1.7.Others |
| 13.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Immunohistochemistry |
| 13.2.2.Molecular Diagnostics |
| 13.2.3.In-situ Hybridization |
| 13.2.4.FISH |
| 13.2.5.CISH |
| 13.2.6.Real-Time PCR |
| 13.2.7.Gene Sequencing |
| 13.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Hospitals |
| 13.3.2.Diagnostic Centres |
| 13.3.3.Others |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.Pfizer Inc., (U.S) |
| 14.2.2.F. Hoffmann-La Roche Ltd.(Switzerland) |
| 14.2.3.Qiagen Ltd. (Germany) |
| 14.2.4.ARUP Laboratories (U.S.) |
| 14.2.5.Abbott Laboratories (U.S.) |
| 14.2.6.Biogenex Laboratories, Inc. (U.S.) |
| 14.2.7.Thermo Fisher Scientific (U.S) |
| 14.2.8.Ventana Medical Systems Inc. (U.S) |
| 14.2.9.Myriad Genetics Inc. (U.S) |
| 14.2.10.Danaher (U.S) |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthcare domain, encompassing pharmaceuticals, medical devices, and diagnostics. A graduate in Pharmacy, he possesses a strong foundation in the intricacies of the healthcare sector. He further enhanced his expertise by pursuing an MBA in Pharmaceuticals, equipping him with valuable business acumen. His analytical skills and market insights have contributed to strategic decision-making and enhanced market positioning for various healthcare organizations. Committed to driving innovation and excellence, Muni continues to seek opportunities to improve healthcare delivery through data-driven insights.