Companion Diagnostics Market - What Factors Will Grow The Market In Upcoming Years?

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Companion Diagnostics Market worth $9.9 billion by 2026 https://www.marketsandmarkets.com/Market-Reports/companion-diagnostics-market155571681.html

The report "Companion Diagnostics Market by Product (Assays, Kits, Software & Services), Technology (PCR, NGS, ISH, IHC), Indication (Breast, Blood, Lung, Colorectal Cancer, Neurology Diseases), End User (Pharma Companies, CROs), Region - Global Forecast to 2026", the global companion diagnostics market is projected to reach USD 9.9 billion by 2026 from USD 5.5 billion in 2021, at a CAGR of 12.6%.

Browse 322 market data Tables and 51 Figures spread through 331 Pages and in-depth TOC on "Companion Diagnostics Market by Product (Assays, Kits, Software & Services), Technology (PCR, NGS, ISH, IHC), Indication (Breast, Blood, Lung, Colorectal Cancer, Neurology Diseases), End User (Pharma Companies, CROs), Region - Global Forecast to 2026" The policy programs to provide effective care to patients with cancer, high drug development activity, structured regulatory framework in the region, and large patient pool undergoing advanced medical testing. Emerging economies such as China, Japan, and India are providing lucrative opportunities for the players operating in the companion diagnostics market.

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Objectives of the Study: • The assays, kits & reagents segment accounted for the largest share The companion diagnostics market is segmented into assays, kits & reagents, and software & services. The assays, kits & reagents accounted for the largest share of the companion diagnostics market in 2020, mainly due to the availability of a wide range of products and increasing use of assays and kits in different therapeutic areas.

• PCR segment to register the highest growth rate The companion diagnostics market is segmented into polymerase chain reaction (PCR), next-generation sequencing (NGS), in situ hybridization (ISH), immunohistochemistry (IHC), and other technologies. In 2020, the PCR segment accounted for the largest share of the companion diagnostics market. Factors such as the ease of use and widespread availability of PCR kits & reagents in companion diagnostic testing, and growing applications of PCR in the highthroughput detection of mutants with a limited or low allele frequency of genes.

• Cancer segment to register the highest growth rate • The pharmaceutical & biotechnology companies segment accounted for the largest share • North America is the largest regional Speak to Analyst: https://www.marketsandmarkets.com/

This report categorizes the companion diagnostics market into the following segments and subsegments:

By Product & Service • Assays, Kits & Reagents • Software & Services

By Technology • Polymerase Chain Reaction • Next-generation Sequencing • In Situ Hybridization • Immunohistochemistry • Other Technologies

By Indication • Cancer ` • Neurological Disorders • Cardiovascular Diseases • Infectious Diseases • Other Indications

By End User • Pharmaceutical & Biopharmaceutical Companies • Reference Laboratories • Contract Research Organizations • Other End Users

The major players operating in this market are F. Hoffmann-La Roche Ltd., Agilent Technologies, Inc., Qiagen N.V., Thermo Fisher Scientific, Inc., Abbott Laboratories, Inc., Almac Group, Danaher Corporation, Illumina Inc., bioMérieux SA, Myriad Genetics, Inc., Sysmex Corporation, Abnova Corporation, Guardant Health, Inc., ICON Plc, BioGenex Laboratories, Inc., Invivoscribe Technologies, ArcherDX, Inc., NG Biotech, Q² Solutions, Amoy Diagnostics Co., Ltd., Abacus Diagnostica Oy, Asuragen Inc., SAGA Diagnostics, Meso Scale Diagnostics, LLC., and Creative Biolabs and Among Others

Companies Insight In 2020, F. Hoffmann-La Roche Ltd. held the leading position in the companion diagnostics market. The company’s leading position in this market can be attributed to its strong global sales and distribution network, enabling it to market its products in various countries effectively. In addition, F. Hoffmann-La Roche Ltd. invests a significant amount of its revenue on R&D. This enables the company to develop and launch new products in the market. Roche adopts inorganic growth strategies to increase its dominance in this market. For instance, in September 2021, the company acquired TIB Molbiol Group (Germany). This acquisition strengthened its broad portfolio of molecular diagnostics solutions with the addition of a wide range of assays for infectious diseases, such as the identification of SARS-CoV-2 variants.

In 2020, Agilent Technologies, Inc. accounted for the second-largest share of the companion diagnostics market. The company’s leading position in this market can be attributed to its strong sales and distribution network globally, enabling it to market its products in various countries effectively. Agilent Technologies invests a significant amount of its revenue in R&D, enabling it to develop and launch new products in the market. In October 2021, the company announced that its PD-L1 IHC 22C3 pharmDx assay was labeled for use in TNBC in the European Union.

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