Global Companion Diagnostic
Market Report
2024
Global Companion Diagnostic market size was USD 5.71 Billion in 2022 and it is forecasted to reach USD 14.31 Billion by 2030. Companion Diagnostic Industry's Compound Annual Growth Rate will be 13.6% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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Global Companion Diagnostic market size was USD 5.71 Billion in 2022 and it is forecasted to reach USD 14.31 Billion by 2030. Companion Diagnostic Industry's Compound Annual Growth Rate will be 13.6% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Companion Diagnostic Market Sales Revenue 2022 | $ 5.71 Billion |
Global Companion Diagnostic Market Sales Revenue 2030 | $ 14.31 Billion |
Global Companion Diagnostic Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 13.6% |
Market Split by Indication |
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Market Split by End User |
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Market Split by Technology |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Companion Diagnostic Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The companion diagnostic is a medical device, which provides information that is essential for the safe and effective use of a corresponding drug or biological product. Companion diagnostics are typically highly tailored or targeted drug treatment. It helps a healthcare professional to know whether the benefits of a drug or treatment for a patient will balance any serious side effects or risks. Furthermore, companion diagnostics are used for oncology treatment and other types of companion diagnostics include mandatory complete blood count (CBC) for administration of clozapine, a drug used in the treatment of severe schizophrenia.
Increasing demand for companion diagnostics in cancer drugs is the major factor expected to drive the growth of the companion diagnostics market. increasing incidences of cancer. A growing number of targeted anticancer drugs are developing under development companion diagnostics. Additionally, A number of drugs–diagnostic co-development programs and the use of several targeted cancer drugs are guided by a CDx. For instance, according to the World Health Organization (WHO), in 2022, there were 2.26 million new cases of people diagnosed with breast cancer and 2.21 million issues of people diagnosed with lung cancer worldwide. Furthermore, the increasing prevalence of cancer and the popularity of companion diagnostics are due to the benefits of oncology Companion Diagnostics assay. This is expected to drive the growth of the companion diagnostics market.
High cost associated with the companion diagnostic tests. Companion diagnostics are a higher cost of therapy than other diagnostic tests. companion diagnostics may be available but at a significantly higher cost, making them unaffordable for many patients. Furthermore, the other cost-required option available such as chemotherapy is likely to hamper the growth of the companion diagnostics market.
The COVID-19 pandemic has led to supply chain disruptions leading to supply shortages or lower demand in the Companion Diagnostics market. The lockdown and restrictions related to social distancing implemented in these COVID-19 countries had negatively affected the supply chain of these products. Furthermore, clinical trials in oncology have also been affected by the coronavirus. However, the market is booming after the significant efforts taken by governments, healthcare practitioners, and market stakeholders to recover from losses caused due to pandemic.
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In June 2021, Labcorp and OmniSeq, has launched of OmniSeq INSIGHTsm, a comprehensive genomic and immune profiling, tissue-based test that integrates next-generation sequencing (NGS) technology. This is designed to advance precision oncology and improve patient outcomes.
Top Companies Market Share in Companion Diagnostic Industry: (In no particular order of Rank)
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In 2022, North America dominated the companion diagnostics market and largest market share in terms of revenue. This is due to the increasing prevalence of cancer and the adoption of advanced CDx assays in the region. For instance, according to the National Cancer Institute, an estimated 1,806,590 new cases of cancer were diagnosed in the U.S. in 2020. In addition, increasing affordable treatment and well-established healthcare infrastructure in the region. Furthermore, the number of clinical trials, research activities, and rising healthcare investment by the government. These all factors affect the growth of the companion diagnostics market in this region.
The current report Scope analyzes Companion Diagnostic Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Companion Diagnostic Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Companion Diagnostic Industry growth. Companion Diagnostic market has been segmented with the help of its Indication, End User Technology, and others. Companion Diagnostic market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The oncology segment held the largest revenue market share in 2022
The cancer segment dominated the companion diagnostics market in 2022. This is attributed to companion diagnostics increasing demand for the oncology drug development process and the rising prevalence of cancer, R&D activities for cancer. In addition, increasing unmet needs for cancer treatment, FDA-approved companion diagnostics, and growing awareness about personalized medicine among patients. Furthermore, widely used companion diagnostics in several forms of cancers such as blood cancer, breast cancer, lung cancer, and colorectal cancer, which is affecting the growth of this segment in the companion diagnostics market.
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This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities for each application of Companion Diagnostic from 2019 to 2031. This will also help to analyze the demand for Companion Diagnostic across different end-use industries. Our research team will also help acquire additional data such as Value Chain, Patent analysis, Company Evaluation Quadrant (Matrix), and much more confidential analysis and data insights.
Some of the key End User of Companion Diagnostic are:
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Companion Diagnostic market report 2024 Edition by contacting our team.
Research Associate at Cognitive Market Research
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.
Anushka is a highly motivated and detail-oriented research analyst with a passion for uncovering valuable insights from data. Her expertise in Market Research and business intelligence has equipped her with the skills necessary to analyze complex information and provide strategic recommendations. She thrives in dynamic environments where her analytical abilities and research expertise can contribute to informed decision-making for businesses
I played a pivotal role in conducting market research and competitive analysis. I have a demonstrated ability to synthesize diverse data sources, identify trends, and translate findings into actionable recommendations. My collaborative approach facilitated effective communication of insights, fostering a data-driven culture within the organization. I am committed to maintaining excellence through continuous learning and staying ahead of industry trends. Regular participation in conferences and professional development opportunities keeps my skills sharp and relevant.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Companion Diagnostic Market is witnessing significant growth in the near future.
In 2023, the Cancer segment accounted for noticeable share of global Companion Diagnostic Market and is projected to experience significant growth in the near future.
The Pharmaceutical & Biopharmaceutical Companies segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Abbott Laboratories Molecular Inc , ARUP Laboratories Inc and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Indication | Cancer, Infectious Diseases, Neurological Diseases, Others |
End User | Pharmaceutical & Biopharmaceutical Companies, Reference Laboratories, Others |
Technology | Polymerase Chain Reaction, In-situ Hybridization, Immunohistochemistry, Next Generation Gene Sequencing, Others |
List of Competitors | Abbott Laboratories Molecular Inc, Agilent, ARUP Laboratories Inc, BioMerieux, Danaher Corporation, Foundation Medicine Inc, Myriad Genetics Inc, Roche, Thermo Fisher Scientific, QIAGEN N.V. |
This chapter will help you gain GLOBAL Market Analysis of Companion Diagnostic. Further deep in this chapter, you will be able to review Global Companion Diagnostic Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Companion Diagnostic Market Trends North America Companion Diagnostic Technological Road Map North America Companion Diagnostic Market Drivers North America Companion Diagnostic Market Restraints North America Companion Diagnostic Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
You can purchase only the Executive Summary Asia Pacific Market (2019 vs 2024 vs 2031)
Chapter 5 South America Market Analysis
You can purchase only the Executive Summary South America Market (2019 vs 2024 vs 2031)
Chapter 6 Middle East and Africa Market Analysis
You can purchase only the Executive Summary Middle East and Africa Market (2019 vs 2024 vs 2031)
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Indication Analysis 2019 -2031, will provide market size split by Indication. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Indication Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by End User Analysis 2019 -2031
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Chapter 12 Market Split by Technology Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Companion Diagnostic market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Cancer have a significant impact on Companion Diagnostic market? |
What are the key factors affecting the Cancer and Infectious Diseases of Companion Diagnostic Market? |
What is the CAGR/Growth Rate of Pharmaceutical & Biopharmaceutical Companies during the forecast period? |
By type, which segment accounted for largest share of the global Companion Diagnostic Market? |
Which region is expected to dominate the global Companion Diagnostic Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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