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Companion Diagnostics Market

Publisher Fortune Business Insights Pvt. Ltd.
Published Sep 01, 2024
Length 135 Pages
SKU # FOB19185712

Description

Companion Diagnostics Market



Growth Factors of Companion Diagnostics Market

The companion diagnostics market size was valued at USD 8.51 billion in 2023, and the market is now projected to grow from USD 9.38 billion in 2024 to USD 22.37 billion by 2032, exhibiting a CAGR of 11.5% during the forecast period of 2024-2032.

The COVID-19 pandemic decreased global need for accomplice diagnostics. In 2020, there has been a drop in non-COVID checking out, ensuing in lower revenue. In 2021, the market had large boom due to comfortable constraints, together with live-at-home orders in numerous nations, and the creation of new diagnostic exams for cancer and persistent illnesses. In 2022, the market stabilized due to extended income of associate diagnostics merchandise and is projected to upward thrust significantly throughout the forecast duration.

The companion diagnostics industry is experiencing a surge in new product approvals, leading to the adoption of various tests and boosting market growth. Key manufacturers are developing novel tests, such as Illumina's TruSight oncology test and Agilent Technologies' PD-LI IHC 22C3 pharmDx assays. These tests assess tumor biomarkers and identify molecular profiles of cancer patients, thereby boosting market growth. Additionally, regulatory approvals from regulatory bodies for companion diagnostics assays are also driving companion diagnostics market growth.

Clinicians employ Next-Generation Sequencing (NGS) to pick out most cancers-inflicting genes in surgically excised tumors. The NGS technique yields super results in a brief time frame and is enhancing with technological developments. The Centers for Disease Control and Prevention (CDC) said that subsequent-era sequencing has advanced from studies to medical utilization within the ultimate five years. Key manufacturers are developing enhanced testing solutions and forming collaborations to advance NGS systems in the industry. Next-generation sequencing may discover genetic abnormalities and aid with illness treatment, making it a key trend in the companion diagnostics industry.

Comprehensive Analysis of Companion Diagnostics Market

Market was dominated by polymerase chain reaction technology, with key players like QIAGEN N.V. and Thermo Fisher Scientific Inc. introducing new PCR kits. The cancer segment is expected to dominate due to increasing cancer prevalence and the focus on advanced tests. The neurology segment is expected to grow at the highest CAGR due to the progression of Central Nervous System diseases. Fujirebio launched Lumipulse G ß-Amyloid 1-42 Plasma and Lumipulse G ß-Amyloid 1-40 Plasma assays for LUMIPULSE G. Pharmaceutical & biopharmaceutical companies generated the highest revenue, with collaborations with companion diagnostic manufacturers like Burning Rock Biotech Limited and IMPACT Therapeutics.

The North America region lead the companion diagnostics market share by benefitting a market size of USD 2.94 billion in 2023 due to the location's dominance is attached to extra rates of maximum cancers and persistent illnesses, in addition to prolonged use of CDx assessments.

F. Hoffmann-La Roche Ltd, Agilent Technologies, Inc., and Abbott are leading gamers in the customized medication market because of new product launches and acquisitions. Agilent Technologies received Resolution Bioscience in April 2021, increasing its capabilities in next-technology sequencing-based totally totally cancer diagnostics. Other key players embody Illumina, Guardant Health, Thermo Fisher Scientific, BIOMERIEUX, QIAGEN. Illumina has partnered with biotechnology agencies to increase associate diagnostics for fine-in-elegance therapeutics.

In February 2024, F. Hoffmann-La Roche Ltd teamed with PathAl to develop Al-enabled pathology algorithms for associate diagnostics.

Segmentation Table

ATTRIBUTE DETAILS

Study Periods 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR 11.5% from 2024-2032

Unit Value (USD billion)

Segmentation By Technology

- Polymerase Chain Reaction

- Immunohistochemistry

- In-situ Hybridization

- Next Generation Gene Sequencing

- Others

By Indication

- Cancer

- Neurological Diseases

- Infectious Diseases

- Others

By End-user

- Pharmaceutical & Biopharmaceutical Companies

- Reference Laboratories

- Contract Research Organizations (CROs)

By Geography

- North America (By Technology, By Indication, By End-user, By Country)
  • U.S.
  • Canada
- Europe (By Technology, By Indication, By End-user, By Country/Sub-Region)
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Scandinavia
  • Rest of Europe
- Asia Pacific (By Technology, By Indication, By End-user, By Country/Sub-Region)
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
- Latin America (By Technology, By Indication, By End-user, By Country/Sub-Region)
  • Brazil
  • Mexico
  • Rest of Latin America
- Middle East & Africa (By Technology, By Indication, By End-user, By Country/Sub-Region)
  • GCC
  • South Africa
  • Rest of Middle East & Africa


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Table of Contents

135 Pages
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
3.4. Market Trends
4. Key Insights
4.1. Incidence of Cancer, Key Countries, 2023
4.2. Technological Advancements of Companion Diagnostics
4.3. New Product Launches, By Key Players
4.4. Key Industry Developments – Mergers & Acquisition
4.5. Impact of COVID-19 on the Market
5. Global Companion Diagnostics Market Analysis, Insights and Forecast, 2019-2032
5.1. Market Analysis, Insights and Forecast – By Technology
5.1.1. Polymerase Chain Reaction
5.1.2. Immunohistochemistry
5.1.3. In-situ Hybridization
5.1.4. Next Generation Gene Sequencing
5.1.5. Others
5.2. Market Analysis, Insights and Forecast – By Indication
5.2.1. Cancer
5.2.2. Neurological Diseases
5.2.3. Infectious Diseases
5.2.4. Others
5.3. Market Analysis, Insights and Forecast – By End-user
5.3.1. Pharmaceutical & Biopharmaceutical Companies
5.3.2. Reference Laboratories
5.3.3. Contract Research Organization
5.4. Market Analysis, Insights and Forecast – By Region
5.4.1. North America
5.4.2. Europe
5.4.3. Asia Pacific
5.4.4. Latin America
5.4.5. Middle East and Africa
6. North America Companion Diagnostics Market Analysis, Insights and Forecast, 2019-2032
6.1. Market Analysis, Insights and Forecast – By Technology
6.1.1. Polymerase Chain Reaction
6.1.2. Immunohistochemistry
6.1.3. In-situ Hybridization
6.1.4. Next Generation Gene Sequencing
6.1.5. Others
6.2. Market Analysis, Insights and Forecast – By Indication
6.2.1. Cancer
6.2.2. Neurological Diseases
6.2.3. Infectious Diseases
6.2.4. Others
6.3. Market Analysis, Insights and Forecast – By End-user
6.3.1. Pharmaceutical & Biopharmaceutical Companies
6.3.2. Reference Laboratories
6.3.3. Contract Research Organization
6.4. Market Analysis, Insights and Forecast – By Country
6.4.1. U.S.
6.4.2. Canada
7. Europe Companion Diagnostics Market Analysis, Insights and Forecast, 2019-2032
7.1. Market Analysis, Insights and Forecast – By Technology
7.1.1. Polymerase Chain Reaction
7.1.2. Immunohistochemistry
7.1.3. In-situ Hybridization
7.1.4. Next Generation Gene Sequencing
7.1.5. Others
7.2. Market Analysis, Insights and Forecast – By Indication
7.2.1. Cancer
7.2.2. Neurological Diseases
7.2.3. Infectious Diseases
7.2.4. Others
7.3. Market Analysis, Insights and Forecast – By End-user
7.3.1. Pharmaceutical & Biopharmaceutical Companies
7.3.2. Reference Laboratories
7.3.3. Contract Research Organization
7.4. Market Analysis, Insights and Forecast – By Country/ Sub-Region
7.4.1. Germany
7.4.2. U.K
7.4.3. France
7.4.4. Italy
7.4.5. Spain
7.4.6. Scandinavia
7.4.7. Rest of Europe
8. Asia Pacific Companion Diagnostics Market Analysis, Insights and Forecast, 2019-2032
8.1. Market Analysis, Insights and Forecast – By Technology
8.1.1. Polymerase Chain Reaction
8.1.2. Immunohistochemistry
8.1.3. In-situ Hybridization
8.1.4. Next Generation Gene Sequencing
8.1.5. Others
8.2. Market Analysis, Insights and Forecast – By Indication
8.2.1. Cancer
8.2.2. Neurological Diseases
8.2.3. Infectious Diseases
8.2.4. Others
8.3. Market Analysis, Insights and Forecast – By End-user
8.3.1. Pharmaceutical & Biopharmaceutical Companies
8.3.2. Reference Laboratories
8.3.3. Contract Research Organization
8.4. Market Analysis, Insights and Forecast – By Country/ Sub-Region
8.4.1. China
8.4.2. India
8.4.3. Japan
8.4.4. Australia
8.4.5. Southeast Asia
8.4.6. Rest of Asia Pacific
9. Latin America Companion Diagnostics Market Analysis, Insights and Forecast, 2019-2032
9.1. Market Analysis, Insights and Forecast – By Technology
9.1.1. Polymerase Chain Reaction
9.1.2. Immunohistochemistry
9.1.3. In-situ Hybridization
9.1.4. Next Generation Gene Sequencing
9.1.5. Others
9.2. Market Analysis, Insights and Forecast – By Indication
9.2.1. Cancer
9.2.2. Neurological Diseases
9.2.3. Infectious Diseases
9.2.4. Others
9.3. Market Analysis, Insights and Forecast – By End-user
9.3.1. Pharmaceutical & Biopharmaceutical Companies
9.3.2. Reference Laboratories
9.3.3. Contract Research Organization
9.4. Market Analysis, Insights and Forecast – By Country/ Sub-Region
9.4.1. Brazil
9.4.2. Mexico
9.4.3. Rest of Latin America
10. Middle East & Africa Companion Diagnostics Market Analysis, Insights and Forecast, 2019-2032
10.1. Market Analysis, Insights and Forecast – By Technology
10.1.1. Polymerase Chain Reaction
10.1.2. Immunohistochemistry
10.1.3. In-situ Hybridization
10.1.4. Next Generation Gene Sequencing
10.1.5. Others
10.2. Market Analysis, Insights and Forecast – By Indication
10.2.1. Cancer
10.2.2. Neurological Diseases
10.2.3. Infectious Diseases
10.2.4. Others
10.3. Market Analysis, Insights and Forecast – By End-user
10.3.1. Pharmaceutical & Biopharmaceutical Companies
10.3.2. Reference Laboratories
10.3.3. Contract Research Organization
10.4. Market Analysis, Insights and Forecast – By Country/ Sub-Region
10.4.1. GCC
10.4.2. South Africa
10.4.3. Rest of Middle East & Africa
11. Competitive Analysis
11.1. Global Market Share Analysis (2023)
11.2. Company Profiles
11.2.1. Abbott
11.2.1.1. Overview
11.2.1.2. Products & Services
11.2.1.3. SWOT Analysis
11.2.1.4. Recent Developments
11.2.1.5. Strategies
11.2.1.6. Financials (Based on Availability)
11.2.2. F. Hoffmann-La Roche Ltd
11.2.2.1. Overview
11.2.2.2. Products & Services
11.2.2.3. SWOT Analysis
11.2.2.4. Recent Developments
11.2.2.5. Strategies
11.2.2.6. Financials (Based on Availability)
11.2.3. Agilent Technologies, Inc.
11.2.3.1. Overview
11.2.3.2. Products & Services
11.2.3.3. SWOT Analysis
11.2.3.4. Recent Developments
11.2.3.5. Strategies
11.2.3.6. Financials (Based on Availability)
11.2.4. Illumina, Inc.
11.2.4.1. Overview
11.2.4.2. Products & Services
11.2.4.3. SWOT Analysis
11.2.4.4. Recent Developments
11.2.4.5. Strategies
11.2.4.6. Financials (Based on Availability)
11.2.5. Guardant Health
11.2.5.1. Overview
11.2.5.2. Products & Services
11.2.5.3. SWOT Analysis
11.2.5.4. Recent Developments
11.2.5.5. Strategies
11.2.5.6. Financials (Based on Availability)
11.2.6. Thermo Fisher Scientific Inc.
11.2.6.1. Overview
11.2.6.2. Products & Services
11.2.6.3. SWOT Analysis
11.2.6.4. Recent Developments
11.2.6.5. Strategies
11.2.6.6. Financials (Based on Availability)
11.2.7. BIOMERIEUX
11.2.7.1. Overview
11.2.7.2. Products & Services
11.2.7.3. SWOT Analysis
11.2.7.4. Recent Developments
11.2.7.5. Strategies
11.2.7.6. Financials (Based on Availability)
11.2.8. QIAGEN
11.2.8.1. Overview
11.2.8.2. Products & Services
11.2.8.3. SWOT Analysis
11.2.8.4. Recent Developments
11.2.8.5. Strategies
11.2.8.6. Financials (Based on Availability)
11.2.9. Myriad Genetics, Inc.
11.2.9.1. Overview
11.2.9.2. Products & Services
11.2.9.3. SWOT Analysis
11.2.9.4. Recent Developments
11.2.9.5. Strategies
11.2.9.6. Financials (Based on Availability)

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