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Global Companion Diagnostics Markets, 2021-2027: Quashing the One-Size-Fits-All Approach, CDx Wield Great Promise for Streamlined Drug Discovery & Development - ResearchAndMarkets.com

August 24, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Aug 24, 2021--

The “Companion Diagnostics - Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.

Global Companion Diagnostics Market to Reach $9.2 Billion by 2027

Amid the COVID-19 crisis, the global market for Companion Diagnostics estimated at US$3.4 Billion in the year 2020, is projected to reach a revised size of US$9.2 Billion by 2027, growing at a CAGR of 15.1% over the period 2020-2027.

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Assay kits & Reagents, one of the segments analyzed in the report, is projected to record 14.3% CAGR and reach US$6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software & Services segment is readjusted to a revised 16.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1 Billion, While China is Forecast to Grow at 14.6% CAGR

The Companion Diagnostics market in the U.S. is estimated at US$1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.6 Billion by the year 2027 trailing a CAGR of 14.6% over the analysis period 2020 to 2027.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.5% and 13% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11.1% CAGR.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • An Introductory Prelude
  • Quashing the One-Size-Fits-All Approach, CDx Wield Great Promise for Streamlined Drug Discovery & Development
  • Broader Scope and Applications Rev Up Growth Opportunities
  • Healthy Growth Projected over the Next Few Years
  • Developed Regions: Key Revenue Contributors
  • Market Witnesses Fast Paced Growth in Developing Regions
  • Northbound Trajectory in R&D Spending Creates Conducive Environment
  • Prevailing Economic Scenario Favors Funding Pattern

2. FOCUS ON SELECT PLAYERS (Total 80 Featured)

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  • Abbott Molecular
  • Agilent Technologies, Inc.
  • bioMerieux SA
  • Cepheid
  • Danaher Corporation
  • F. Hoffmann-La Roche Ltd.
  • Foundation Medicine Inc.
  • Laboratory Corporation of America Holdings
  • Leica Biosystems Nussloch GmbH
  • Merck & Co. Inc.
  • Myriad Genetics Inc.
  • NeoGenomics Laboratories, Inc.
  • QIAGEN N.V.
  • Quest Diagnostics Inc.
  • Thermo Fischer Scientific Inc.

3. MARKET TRENDS & DRIVERS

  • Growing Significance of Personalized Medicine Remains a Major Market Driver
  • Emphasis on Improving Targeted Therapies with CDx Tests Steers Momentum
  • Herceptin Lays the Road for Companion Diagnostics
  • Oncology - Dominant Therapy Area for CDx
  • Rising Incidence of Cancer Propels the Need for CDx Tests
  • Technology Advancements to Widen CDx Use Case
  • PCR: Dominant Technology Type for CDx Testing
  • Next-Generation Sequencing (NGS) Gains Widespread Traction in CDx Testing
  • Significant Role of Biomarkers in Companion Diagnostics
  • Critical Healthcare Needs of Aging Population Underpin CDx Sales
  • Regulatory Scenario Favors CDx Market
  • Resolving Prevailing Challenges: Critical for Future Growth of CDx Market

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

  • Total Companies Profiled: 80

For more information about this report visit https://www.researchandmarkets.com/r/ehu8mm

View source version on businesswire.com:https://www.businesswire.com/news/home/20210824005540/en/

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KEYWORD:

INDUSTRY KEYWORD: BIOTECHNOLOGY HEALTH MEDICAL DEVICES

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 08/24/2021 08:34 AM/DISC: 08/24/2021 08:34 AM

http://www.businesswire.com/news/home/20210824005540/en