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Companion Diagnostics Market: 2021 Future Set to Massive Growth with High CAGR value

The Companion Diagnostics Market report describes the market overview, segments, applications, commitment, and market trends for the  Medical Devices industry. This market research is achieved by analyzing the growth trend, market status, growth rate, market drivers, opportunities and challenges, limits, channels, vendors, and suppliers. This universal survey research guide is prepared by efficient analysis on key promoters and secondary influencers, market share, top segments, and regional division. Further, examining significant industry patterns, market size, and market share are highlighted in the Companion Diagnostics Market report.

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Key Players:

F. Hoffmann-La Roche AG (Switzerland),

Agilent Technologies, Inc. (US),

QIAGEN N.V. (Germany),

Abbott Laboratories, Inc. (US),

Almac Group (UK),

Danaher Corporation (US),

Illumina, Inc. (US),

bioMérieux SA (France),

Myriad Genetics, Inc., (US),

Sysmex Corporation (Japan),

Thermo Fisher Scientific Inc. (US),

Abnova Corporation (Taiwan),

Guardant Health, Inc. (US),

Icon Plc (Ireland),

and Biogenex Laboratories, Inc. (US)

The companion diagnostics market is expected to reach USD 6.8 billion by 2025 from USD 3.7 billion in 2020, at a CAGR of 12.9%. The growth of the companion diagnostics industry is tied primarily to its various advantages, the growing need for targeted therapy, and the increasing importance of personalized medicine. Moreover, the increasing global incidence of cancer, ever-increasing application areas of companion diagnostics, rising demand for next-generation sequencing, the growing significance of companion diagnostics in drug development, and the increasing number of clinical trials are expected to present growth opportunities for players in the market. However, the high cost of companion diagnostic tests and the uncertain reimbursement scenario in different regions affect market growth to a certain extent during the forecast period.

“Cancer segment to witness the highest growth during the forecast period”

The cancer segment is estimated to grow at the highest CAGR during the forecast period. This can be attributed primarily to the increasing global incidence of cancer, the growing role of companion diagnostics in personalized medicine treatment for cancer, the rising utility of biomarkers in the diagnosis of cancer, technological advancements in cancer diagnostics at the molecular level, and the availability of funding for cancer research.

“Pharmaceutical & biopharmaceutical companies segment to grow at the highest CAGR in the companion diagnostics market, by end-user”

The major factors driving the demand for pharmaceutical & biopharmaceutical companies in companion diagnostics are growing prominence in drug development and the growing importance of companion diagnostic biomarkers. The increasing demands for personalized medicine as well as the high demand for targeted therapies for various diseases and disorders are also expected to drive the demand and uptake of companion diagnostics among pharmaceutical & biopharmaceutical companies.

APAC market to witness the highest growth during the forecast period”

Asia Pacific is estimated to be the fastest-growing regional market for companion diagnostics during the forecast period. The high incidence of cancer, growing proteomics & genomics research, increasing research funding, rising investments by pharmaceutical and biotechnology companies, and growing awareness about personalized therapeutics in several APAC countries are some of the major factors driving the growth of this market.

The break-down of primary participants is as mentioned below:

  • By Company Type – Tier 1: 40%, Tier 2: 25%, and Tier 3: 35%
  • By Designation – C-level: 33%, Director-level: 41%, and Others: 26%
  • By Region – North America: 38%, Europe: 32%, Asia Pacific: 23%, Latin America: 5%, and the Middle East & Africa: 2%

Research Coverage:

This report analyzes the market for various companion diagnostics and their adoption patterns. It aims at estimating the size and future growth potential of the global companion diagnostics market as well as its segments (by product & service, technology, indication, end-user, and region). The report also includes an in-depth competitive analysis of key market players along with their company profiles, product offerings, and recent developments.

Reasons to Buy the Report

This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one, or any combination of the below mentioned five strategies for strengthening their market presence.

  • Market Penetration: Comprehensive information on the product portfolios offered by the top players in the global companion diagnostics market
  • Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and service launches in the global companion diagnostics market
  • Market Development: Comprehensive information on the lucrative emerging regions
  • Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the global companion diagnostics market
  • Competitive Assessment: In-depth assessment of product offered, market shares, growth strategies, and revenue analysis of leading players in the global companion diagnostics market

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Table Of Contents

1 Introduction
1.1 Objectives Of The Study
1.2 Market Definition
1.2.1 Inclusions & Exclusions
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered For The Study
1.4 Currency
Table 1 Standard Currency Conversion Rates
1.5 Limitations
1.6 Stakeholders
1.7 Summary Of Changes

2 Research Methodology
2.1 Research Data
Figure 1 Research Design
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
Figure 2 Primary Sources
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
Figure 3 Breakdown Of Primary Interviews: By Company Type, Designation, And Region
2.2 Market Size Estimation
Figure 4 Market Size Estimation: Revenue Share Analysis
Figure 5 Revenue Share Analysis Illustration
Figure 6 Market Size Approach
Figure 7 Top-Down Approach
2.3 Market Breakdown And Data Triangulation
Figure 8 Data Triangulation Methodology
2.4 Market Share Analysis
2.5 Assumptions For The Study

3 Executive Summary
Figure 9 Companion Diagnostics Market, By Product & Service, 2020 Vs. 2025 (Usd Billion)
Figure 10 Companion Diagnostics Market, By Technology, 2020 Vs. 2025 (Usd Billion)
Figure 11 Companion Diagnostics Market, By Indication, 2020 Vs. 2025 (Usd Billion)
Figure 12 Companion Diagnostics Market, By End User, 2020 Vs. 2025 (Usd Billion)
Figure 13 Geographical Snapshot Of The Companion Diagnostics Market

4 Premium Insights
4.1 Companion Diagnostics Market Overview
Figure 14 Increasing Demand For Targeted Therapies And Personalized Medicine In The Pharmaceutical Industry To Drive Market Growth
4.2 Asia Pacific: Companion Diagnostics Market, By End User (2019)
Figure 15 Pharmaceutical & Biopharmaceutical Companies Commanded The Largest Share Of The Apac Companion Diagnostics Market In 2019
4.3 Regional Mix: Companion Diagnostics Market
Figure 16 Asia Pacific To Witness The Highest Growth In The Forecast Period
4.4 Companion Diagnostics Market: Developed Vs. Developing Countries
Figure 17 Developing Countries To Register Higher Growth During The Forecast Period
4.5 Geographical Snapshot Of The Companion Diagnostics Market
Figure 18 China To Grow At The Highest Cagr During The Forecast Period

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 19 Companion Diagnostics Market: Drivers, Restraints, Opportunities, And Challenges
5.2.1 Drivers
5.2.1.1 Advantages Of Companion Diagnostics
5.2.1.2 Growing Need For Targeted Therapy
5.2.1.3 Growing Importance Of Personalized Medicine
Figure 20 Global Launch Of Personalized Medicine Products, 2008–2016
5.2.1.4 Increasing Global Incidence Of Cancer
Figure 21 Global Cancer Incidence, 2008–2030
5.2.1.5 Growing Application Areas Of Companion Diagnostics
5.2.2 Restraints
5.2.2.1 High Cost Of Companion Diagnostic Tests
5.2.2.2 Uncertain Reimbursement Scenario In Different Regions
Table 2 Companion Diagnostics Reimbursement Scenario Worldwide
5.2.3 Opportunities
5.2.3.1 Increasing Demand For Next-Generation Sequencing
Table 3 Partnerships & Collaborations For Developing Ngs-Based Companion Diagnostic Tests
5.2.3.2 Growing Significance Of Companion Diagnostics In Drug Development
5.2.3.3 Increasing Number Of Clinical Trials
Table 4 List Of Clinical Trials For Companion Diagnostics
5.2.4 Challenges
5.2.4.1 Impact Of The Covid-19 Pandemic
5.2.4.2 Shortage Of Trained Professionals

6 Industry Insights
6.1 Introduction
6.2 Industry Trends
6.2.1 Impact Of The Covid-19 Pandemic On The Companion Diagnostics Market
Figure 22 Impact Of Covid-19 On The Companion Diagnostics Market
6.2.2 Growing Focus On Liquid Biopsy In Companion Diagnostics
6.2.3 Increasing Collaborations
Table 5 Recent Collaborations In The Companion Diagnostics Market
6.3 Regulatory Analysis
6.3.1 North America
6.3.1.1 Us
Table 6 Us: Classification Of Medical Devices
Figure 23 Premarket Notification: 510(K) Approval For Companion Diagnostic Products
6.3.1.2 Canada
6.3.2 Europe
6.3.3 Asia Pacific
6.3.3.1 Australia
6.3.3.2 Japan
Table 7 Japan: Classification Of Medical Devices
6.3.3.3 China
Table 8 China: Time, Cost, And Complexity Of Registration Process
6.3.3.4 India
Figure 24 India: Regulatory Process For Ivd Devices
Table 9 India: Time, Cost, And Complexity Of Registration Process
6.3.4 Brazil
6.4 Product Pipeline Analysis
Table 10 Companion Diagnostics Product Pipeline Analysis, By Market Player: Current Market Scenario

7 Companion Diagnostics Market, By Product & Service
7.1 Introduction
Table 11 Companion Diagnostics Market, By Product & Service, 2017–2019 (Usd Million)
Table 12 Companion Diagnostics Market, By Product & Service, 2020–2025 (Usd Million)
7.2 Impact Of Covid-19 On The Demand And Supply Of Companion Diagnostic Products & Services
7.3 Assays, Kits, And Reagents
7.3.1 Increasing Volume Of Cdx Tests Performed In Laboratories To Support The Adoption Of Assays & Kits
Table 13 Companion Diagnostic Assays, Kits, And Reagents Market, By Country, 2017–2019 (Usd Million)
Table 14 Companion Diagnostic Assays, Kits, And Reagents Market, By Country, 2020–2025 (Usd Million)
7.4 Software & Services
7.4.1 Need For Effective Data Management Software Within Laboratories To Contribute To Market Growth
Table 15 Companion Diagnostic Software & Services Market, By Country, 2017–2019 (Usd Million)
Table 16 Companion Diagnostic Software & Services Market, By Country, 2020–2025 (Usd Million)

8 Companion Diagnostics Market, By Technology
8.1 Introduction
Table 17 Companion Diagnostics Market, By Technology, 2017–2019 (Usd Million)
Table 18 Companion Diagnostics Market, By Technology, 2020–2025 (Usd Million)
8.2 Impact Of Covid-19 On The Companion Diagnostic Technology Market
8.3 Polymerase Chain Reaction (Pcr)
8.3.1 Growing Applications Of Pcr Technologies In Personalized Medicine And Companion Diagnostics To Drive Growth
Table 19 Comparison Of Tissue Sequencing Platforms For The Detection Of Ras/Braf Mutation
Table 20 Major Pcr Tests/Kits Available In The Market
Table 21 Companion Diagnostics Market For Polymerase Chain Reaction, By Country, 2017–2019 (Usd Million)
Table 22 Companion Diagnostics Market For Polymerase Chain Reaction, By Country, 2020–2025 (Usd Million)
8.4 Next-Generation Sequencing (Ngs)
8.4.1 Ngs Segment To Grow At Highest Cagr During Forecast Period
Table 23 Major Ngs Tests/Kits Available In The Market
Table 24 Companion Diagnostics Market For Next-Generation Sequencing, By Country, 2017–2019 (Usd Million)
Table 25 Companion Diagnostics Market For Next-Generation Sequencing, By Country, 2020–2025 (Usd Million)
8.5 In Situ Hybridization (Ish)
8.5.1 Advancements In Ish And Its Demand In Small-Tumor Diagnostics To Drive Growth
Table 26 Major Ish Tests/Kits Available In The Market
Table 27 Companion Diagnostics Market For In Situ Hybridization, By Country, 2017–2019 (Usd Million)
Table 28 Companion Diagnostics Market For In Situ Hybridization, By Country, 2020–2025 (Usd Million)
8.6 Immunohistochemistry (Ihc)
8.6.1 Increasing Demand For User-Friendly And Cost-Effective Technologies In Cdx To Support Growth In This Segment
Table 29 Major Ihc Tests/Kits Available In The Market
Table 30 Companion Diagnostics Market For Immunohistochemistry, By Country, 2017–2019 (Usd Million)
Table 31 Companion Diagnostics Market For Immunohistochemistry, By Country, 2020–2025 (Usd Million)
8.7 Other Technologies
Table 32 Companion Diagnostics Market For Other Technologies, By Country, 2017–2019 (Usd Million)
Table 33 Companion Diagnostics Market For Other Technologies, By Country, 2020–2025 (Usd Million)

9 Companion Diagnostics Market, By Indication
9.1 Introduction
Table 34 Companion Diagnostics Market, By Indication, 2017–2019 (Usd Million)
Table 35 Companion Diagnostics Market, By Indication, 2020–2025 (Usd Million)
9.2 Impact Of Covid-19 On Various Indications In The Companion Diagnostics Market
9.3 Cancer
Figure 25 Breast Cancer To Dominate The Companion Diagnostics Market For Cancer During The Forecast Period
Table 36 Companion Diagnostics Market For Cancer, By Type, 2017–2019 (Usd Million)
Table 37 Companion Diagnostics Market For Cancer, By Type, 2020–2025 (Usd Million)
Table 38 Companion Diagnostics Market For Cancer, By Country, 2017–2019 (Usd Million)
Table 39 Companion Diagnostics Market For Cancer, By Country, 2020–2025 (Usd Million)
9.3.1 Breast Cancer
9.3.1.1 Breast Cancer Is The Most Common Cancer Among Women—A Key Factor Contributing To The Large Share Of This Market Segment
Table 40 Companion Diagnostics Market For Breast Cancer, By Country, 2017–2019 (Usd Million)
Table 41 Companion Diagnostics Market For Breast Cancer, By Country, 2020–2025 (Usd Million)
9.3.2 Lung Cancer
9.3.2.1 Growing Demand For Therapeutic Drugs And Their High Efficacy In The Treatment Of Lung Cancer To Increase Cdx Adoption
Figure 26 Global Lung Cancer Incidence, 2012–2030
Table 42 Companion Diagnostics Market For Lung Cancer, By Country, 2017–2019 (Usd Million)
Table 43 Companion Diagnostics Market For Lung Cancer, By Country, 2020–2025 (Usd Million)
9.3.3 Colorectal Cancer
9.3.3.1 Growing Need For Molecular Profiling Of Primary Tumors In Colorectal Cancer To Drive Growth In This Market Segment
Table 44 Companion Diagnostics Market For Colorectal Cancer, By Country, 2017–2019 (Usd Million)
Table 45 Companion Diagnostics Market For Colorectal Cancer, By Country, 2020–2025 (Usd Million)
9.3.4 Melanoma
9.3.4.1 Growing Incidence Of Melanoma Drives The Demand For Companion Diagnostics
Table 46 Companion Diagnostics Market For Melanoma, By Country, 2017–2019 (Usd Million)
Table 47 Companion Diagnostics Market For Melanoma, By Country, 2020–2025 (Usd Million)
9.3.5 Gastric Cancer
9.3.5.1 Increasing Focus Of Market Players On The Development Of Tests And Kits For Gastric Cancer Indications To Drive Market Growth
Table 48 Companion Diagnostics Market For Gastric Cancer, By Country, 2017–2019 (Usd Million)
Table 49 Companion Diagnostics Market For Gastric Cancer, By Country, 2020–2025 (Usd Million)
9.4 Infectious Diseases
9.4.1 Growing Focus Of Companion Diagnostic Players On Orphan Indications To Propel The Growth Of This Segment
Table 50 Companion Diagnostics Market For Infectious Diseases, By Country, 2017–2019 (Usd Million)
Table 51 Companion Diagnostics Market For Infectious Diseases, By Country, 2020–2025 (Usd Million)
9.5 Cardiovascular Diseases
9.5.1 Growing Demand For Targeted Therapies Due To High Incidence Of Cardiovascular Diseases To Drive Growth
Table 52 Companion Diagnostics Market For Cardiovascular Diseases, By Country, 2017–2019 (Usd Million)
Table 53 Companion Diagnostics Market For Cardiovascular Diseases, By Country, 2020–2025 (Usd Million)
9.6 Neurological Diseases
9.6.1 Growing Number Of Diagnostic Technologies For The Treatment Of Neurological Diseases To Boost The Adoption Of Companion Diagnostics
Table 54 Companion Diagnostics Market For Neurological Diseases, By Country, 2017–2019 (Usd Million)
Table 55 Companion Diagnostics Market For Neurological Diseases, By Country, 2020–2025 (Usd Million)
9.7 Other Indications
Table 56 Companion Diagnostics Market For Other Indications, By Country, 2017–2019 (Usd Million)
Table 57 Companion Diagnostics Market For Other Indications, By Country, 2020–2025 (Usd Million)

10 Companion Diagnostics Market, By End User
10.1 Introduction
Table 58 Companion Diagnostics Market, By End User, 2017–2019 (Usd Million)
Table 59 Companion Diagnostics Market, By End User, 2020–2025 (Usd Million)
10.2 Impact Of Covid-19 On The End Users In The Companion Diagnostics Market
10.3 Pharmaceutical & Biopharmaceutical Companies
10.3.1 Wide Usage Of Cdx In Pharmaceutical & Biopharmaceutical Companies To Drive Market Growth
Table 60 Companion Diagnostics Market For Pharmaceutical & Biopharmaceutical Companies, By Country, 2017–2019 (Usd Million)
Table 61 Companion Diagnostics Market For Pharmaceutical & Biopharmaceutical Companies, By Country, 2020–2025 (Usd Million)
10.4 Reference Laboratories
10.4.1 Growing Incidence Of And Rising Demand For Targeted Therapies To Drive Growth
Table 62 Companion Diagnostics Market For Reference Laboratories, By Country, 2017–2019 (Usd Million)
Table 63 Companion Diagnostics Market For Reference Laboratories, By Country, 2020–2025 (Usd Million)
10.5 Contract Research Organizations
10.5.1 Cros Offer A Complete Range Of Companion Diagnostic Services To Targeted Therapy-Related Clinical Trials
Table 64 Companion Diagnostics Market For Contract Research Organizations, By Country, 2017–2019 (Usd Million)
Table 65 Companion Diagnostics Market For Contract Research Organizations, By Country, 2020–2025 (Usd Million)
10.6 Other End Users
Table 66 Companion Diagnostics Market For Other End Users, By Country, 2017–2019 (Usd Million)
Table 67 Companion Diagnostics Market For Other End Users, By Country, 2020–2025 (Usd Million)

11 Companion Diagnostics Market, By Region

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