Introduction of the Companion Diagnostics Market Report

Companion diagnostics are the devices which is crucial for the safe and effective use of a medicinal product to identify before and/or during treatment. Companion diagnostics are predictive biomarker assays linked to the use of a specific drug, most often developed in parallel to the drug using the drug-diagnostic co-developed model. The successful development and commercialization of personalized medicines have elevated the growth of the market.

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Market Dynamic

Key Drivers and Emerging Trends

Companion diagnostics play an important role in the effective and safe use of a corresponding drug. Greater patient access and better clinical utility evidence have facilitated the acceleration of diagnostics in the medical world. There is an emerging consensus that diagnostics appear to offer a set of tools, which helps the biopharmaceutical players address and overcome the problems, which has drastically changed the landscape of the market. Furthermore, strategic initiatives by the key players in the market have helped develop the novel techniques that have pushed the pace of market. For instance, in 2021, INOVIO pharmaceuticals inc. and QIAGEN have strategically collaborated for the development novel diagnostic for immunotherapy in HPV-associated cervical dysplasia. The collaboration aims to utilize QIAGEN’s bioinformatic expertise to further the predictive power of the biomarker signature developed by INOVIO, which is expected to shift the paddles for the market.

In addition, the rising adoption and availability of personalized medicines for diseases like Brineura, for the treatment of CLN2 type batten disease, Rydapt for acute myeloid leukaemia, is likely to continue to pave the road towards growth, which can be an opportunity for the market.

Restraint in the Companion Diagnostics Market

However, high cost in the advancement and infrastructure for research and development is the factor that is hampering the market.

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Offering – Segment Analysis

Based on the offering, the product segment is anticipated to dominate the market over the forecast period. This is due to the emergence of highly sensitive technologies such as NGS for cancer diagnosis. Leading companies such as Roche, Illumina and ThermoFisher Scientific are expected to see lucrative growth opportunities in the coming decades due to increased use of cancer diagnostic equipment due to the rising disease burden.

Disease Type – Segment Analysis

Based on the disease type, NSCLC segment is likely to dominate the market over the forecast period. This is due to the high incidence rate of NSCLC coupled with a rise in the development of oncology diagnostic tests for the disease. For instance, In May 2020, the FDA approved FoundationOne CDx assay for use with Capmatinib to treat metastatic NSCLC, which has contributed to the growth of the market.

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Regional – Segment Analysis:

Based on the region, North America is expected to dominate the market over the forecast period. Funding and grants provided by bodies, such as the National Cancer Institute (NCI), to accelerate precision therapy development which has positively influenced the market. Effective regulations pertaining to the approval of oncology companion diagnostic tests for cancer coupled with accelerated R&D for integrated and personalized medicine in the U.S. have driven the market.

Top Market Players

Various notable players operating in the market, include, Agilent Technologies, Inc., Illumina, Inc., QIAGEN, Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche Ltd., ARUP Laboratories., Abbott, Myriad Genetics, Inc., BioMérieux SA, Invivoscribe, Inc., among others. 

Key Developments:

• • In 2020, Thermo Fisher Scientific Inc. and Agios Pharmaceuticals strategic partnership was made to codevelop a second companion diagnostics platform for oncology.

Segments covered in the Report:

The global companion diagnostics market has been segmented based on offering, technology, disease type, end-use and regions. Based on offering, the market is segmented into product and service. Based on technology, the market is segmented into PCR, NGS, IHC, FISH and others. Based on disease type, the market is segmented into breast cancer, NSCLC, melanoma, colorectal and others. Based on end-use the market is segmented into hospitals, pathology and diagnostic labs, academic medical center and others. 

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Key questions answered in this research report:

• • At what pace is global companion diagnostics market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in companion diagnostics market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global companion diagnostics market?
  • Which offering generated maximum revenues in 2019 and identify the most promising offering during the forecast period?
  • What are the various technology areas of global companion diagnostics market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Offering, By Technology, By Disease Type, By End-Use, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Agilent Technologies, Inc., Illumina, Inc., QIAGEN, Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche Ltd., ARUP Laboratories., Abbott, Myriad Genetics, Inc., BioMérieux SA, Invivoscribe, Inc., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Companion Diagnostics Market by Offering

• • Solution
  • Service

Global Companion Diagnostics Market by Technology

• • PCR
  • NGS
  • IHC
  • FISH
  • Others

Global Companion Diagnostics Market by Disease Type

• • Breast Cancer
  • NSCLC
  • Melanoma
  • Colorectal
  • Others

Global Companion Diagnostics Market by End-Use

• • Hospitals
  • Pathology and Diagnostic Labs
  • Academic Medical Center
  • Others

Global Companion Diagnostics Market by Region

• • North America Companion Diagnostics Market (Option 1: As a part of the free 25% customization)
    • North America Companion Diagnostics Market by Offering
    • North America Companion Diagnostics Market by Technology
    • North America Companion Diagnostics Market by Disease Type
    • North America Companion Diagnostics Market by End-Use
    • US Companion Diagnostics Market All-Up
    • Canada Companion Diagnostics Market All-Up
  • Europe Companion Diagnostics Market (Option 2: As a part of the free 25% customization)
    • Europe Companion Diagnostics Market by Offering
    • Europe Companion Diagnostics Market by Technology
    • Europe Companion Diagnostics Market by Disease Type
    • Europe Companion Diagnostics Market by End-Use
    • UK Companion Diagnostics Market All-Up
    • Germany Companion Diagnostics Market All-Up
    • France Companion Diagnostics Market All-Up
    • Spain Companion Diagnostics Market All-Up
    • Rest of Europe Companion Diagnostics Market All-Up
  • Asia-Pacific Companion Diagnostics Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Companion Diagnostics Market by Offering
    • Asia-Pacific Companion Diagnostics Market by Technology
    • Asia-Pacific Companion Diagnostics Market by Disease Type
    • Asia-Pacific Companion Diagnostics Market by End-Use
    • China Companion Diagnostics Market All-Up
    • India Companion Diagnostics Market All-Up
    • Japan Companion Diagnostics Market All-Up
    • Rest of APAC Companion Diagnostics Market All-Up
  • RoW Companion Diagnostics Market (Option 4: As a part of the free 25% customization)
    • RoW Companion Diagnostics Market by Offering
    • RoW Companion Diagnostics Market by Technology
    • RoW Companion Diagnostics Market by Disease Type
    • RoW Companion Diagnostics Market by End-Use
    • Brazil Companion Diagnostics Market All-Up
    • South Africa Companion Diagnostics Market All-Up
    • Saudi Arabia Companion Diagnostics Market All-Up
    • UAE Companion Diagnostics Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Companion Diagnostics Market All-Up

Major Players Operating in the Companion Diagnostics (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Agilent Technologies, Inc.
  • Illumina, Inc.
  • QIAGEN
  • Thermo Fisher Scientific, Inc.
  • Hoffmann-La Roche Ltd.
  • ARUP Laboratories.
  • Abbott
  • Myriad Genetics, Inc.
  • BioMérieux SA
  • Invivoscribe, Inc.