Global Companion Diagnostics Market - Growth at a CAGR of 22.7% Estimated During the Forecast Period 2020-2026 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Aug 27, 2021--
The “Global Companion Diagnostics Market- Strategies and Market Share and Industry Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global companion diagnostics market was valued at $4116 Million in 2019 and is estimated to generate net revenue of approximately $17853 Million by 2026 growing at a CAGR of 22.7% during the forecast period (2020-2026).
The global companion diagnostics market is primarily driven by significant partnerships and collaborations for companion diagnostics test development. In addition, improvements in regulatory guidelines and the growing need for targeted therapies are also driving the global companion diagnostics market.
Rising cancer incidences across the globe is also fueling the global companion diagnostics market. According to Frontiers Media SA, companion diagnostics is majorly used to improve the predictability of oncology drug development process. Increasing incidences of cancer has driven the adoption of companion diagnostics for developing drugs in cancer treatment.
As per Our World in Data, cancer prevalence of all forms has registered a significant increment over the period of 1990 to 2016. The major cancer types include breast cancer, prostate cancer, stomach cancer cervical cancer, tracheal, bronchus, lung cancer, etc. according to the American Cancer Society (ACS, United States), nearly 14.1 million new cases of cancer were observed (with about 8.2 million cancer deaths) across the globe in 2012. This global cancer burden is expected to increase and reach up to about 21.7 million new cases of cancer (with approximately 13 million cancer deaths) by the end of 2030.
Global companion diagnostics market has been segmented based on product and service, indication, technology, and end user. The indication segment is further sub-segmented into, oncology, neurology, infectious diseases, and other indications. Oncology is the leading segment in terms of revenue in global companion diagnostics market with around 82.72% market share. The dominance of the oncology indication market is primarily attributed by increasing cases of cancer and research activities performed to develop treatment.
Geographically, the companion diagnostics market has been segmented into North America, Europe, Asia Pacific and Rest of World (ROW). North America is estimated to be the largest market share i.e. 34% in terms of revenue. The dominance of North America is attributed towards the presence of a majority of the key players that are offering their products in the market. Key players include Agilent Technologies Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Abbott Laboratories, Inc. (U.S.), GE Healthcare (U.S.) and others. Furthermore, factors such as initiatives in genomics and precision medicines, increasing prevalence of cancer, rising pharmaceutical industries and others are also driving the North America market.
Key Topics Covered:
3. Industry Outlook
4. Market Share Analysis
5. Regulatory Landscape: Companion Diagnostics
6. Analysing Companion Diagnostics
7. Analysing Companion Diagnostics Cross Borders
8. Competitive Landscape
9. Patent Analysis
10. Company Profiling
- Agilent Technologies
- Almac Group
- Danaher Corporation
- GE Healthcare
- Genomic Health
- Illumina Inc.
- Myriad Genetics
- Qiagen N.V.
- Roche Diagnostics
- Sysmex Corporation
- Thermo Fisher Scientific
For more information about this report visit https://www.researchandmarkets.com/r/vykamh
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INDUSTRY KEYWORD: HEALTH ONCOLOGY
SOURCE: Research and Markets
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PUB: 08/27/2021 05:02 AM/DISC: 08/27/2021 05:02 AM