Companion Diagnostics Market: Global Market Estimation, Dynamics, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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Companion Diagnostics Market By Application (Breast Cancer, Colorectal Cancer, Lung Cancer, Urology, Melanoma, Gastric Cancer, Others), By Technology (Immunohistochemistry, Molecular Diagnostics, In-situ Hybridization, FISH, CISH, Real-Time PCR, Gene Sequencing), By End-user (Hospitals, Diagnostic Centres, Others) and By Geography

 

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Report

Description

The global Companion Diagnostics Market size was estimated at USD 4.2 Bn in 2021, growing at a CAGR of 13.3% during the forecast period 2022-2028. 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 characters. 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 oncology area. The Global companion diagnostics 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.

Key Developments:

In June 2015, Ventana Medical Systems, Inc. (RocheGroup) has received U.S. FDA approval for its ventana alk cdx assay, companion diagnostics to aid in the identification of patients for, xalkori (crizotinib) (Pfizer’s FDA approved targeted therapy)

In July 2014, AstraZeneca collaborated with Roche to develop a plasma-based companion diagnostic test to support azd9291, for non-small-cell lung cancer

Companion Diagnostics Market

MARKET SUMMARY
-
13.3%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 13.3%
  • Largest Market– North America
  • Fastest Growing Market– Asia-Pacific

  • The report on global companion diagnostics market gives historical, current, and future market sizes (US$ Bn) on the basis of application, technology, end user and geography.
  • The global companion diagnostics market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Key Players
  • Pfizer Inc., (U.S)
  • Qiagen Ltd. (Germany)
  • ARUP Laboratories (U.S.)
  • Abbott Laboratories (U.S.)
  • Biogenex Laboratories, Inc. (U.S.)
Companion Diagnostics Market Dynamics

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.


North-America Got Significant Share

Companion Diagnostics Market

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
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2017-2021) and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Companion Diagnostics Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The companion diagnostics market is projected to expand at a CAGR of 4.2% during the forecast period

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


Report

Company Profile

  • 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.)
  • Thermo Fisher Scientific (U.S)
  • Ventana Medical Systems Inc. (U.S)
  • Myriad Genetics Inc. (U.S)
  • Danaher (U.S)

Description

The global Companion Diagnostics Market size was estimated at USD 4.2 Bn in 2021, growing at a CAGR of 13.3% during the forecast period 2022-2028. 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 characters. 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 oncology area. The Global companion diagnostics 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.

Key Developments:

In June 2015, Ventana Medical Systems, Inc. (RocheGroup) has received U.S. FDA approval for its ventana alk cdx assay, companion diagnostics to aid in the identification of patients for, xalkori (crizotinib) (Pfizer’s FDA approved targeted therapy)

In July 2014, AstraZeneca collaborated with Roche to develop a plasma-based companion diagnostic test to support azd9291, for non-small-cell lung cancer

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