Amritsar Online

Companion Diagnostics Market to Reach USD 9.9 billion by 2026 – Size, Share, Growth, Emerging Trends, Top 10 Players and Industry Outlook

 Breaking News
  • No posts were found

Companion Diagnostics Market to Reach USD 9.9 billion by 2026 – Size, Share, Growth, Emerging Trends, Top 10 Players and Industry Outlook

May 05
18:41 2022
Companion Diagnostics Market to Reach USD 9.9 billion by 2026 - Size, Share, Growth, Emerging Trends, Top 10 Players and Industry Outlook
Key Players in Companion Diagnostics Market are F. Hoffmann-La Roche Ltd. (Switzerland), Agilent Technologies, Inc. (US), Qiagen N.V. (Germany), Thermo Fisher Scientific, Inc. (US), Abbott Laboratories, Inc. (US), Almac Group (UK), Danaher Corporation (US), Illumina Inc. (US), bioMérieux SA (France).
Companion Diagnostics Market Research Report Gives in Detailed Analysis of Industry Segments, Opportunities, Growth and Size.

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% during the forecast period. Market growth is driven by factors such as the growing significance of companion diagnostics in drug development and rising incidence of cancer and growing adoption of targeted therapies.

Driver: Growing need for targeted medicines

With advances in genetic sequencing and genomics, it is now widely believed that drugs can show varying outcomes in different individuals. A better understanding of the genetic characteristics or biomarkers of an individual can promote the practice of administering ‘the right drug, at the right time, at the right dose, for the right person’. Pharmaceutical and biopharmaceutical companies are continuously attempting to implement patient-selection diagnostic frameworks in the earlier stages of drug development to provide targeted therapies to the right candidate. This further supports the growth of the companion diagnostics market.

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=155571681

Challenge: Lack of awareness of companion diagnostics testing

It is important to build awareness amongst patients, clinicians, and the public regarding the importance of clinical trials. To improve awareness among clinicians, providing special access to reputable, evidence-based latest information on these new cancer medicines can be helpful. To improve public awareness, increasing access to a common and trusted source of truth is necessary. Several publishing houses and industry players provide monthly journals and information leaflets. Stakeholders have also focused on awareness initiatives to ensure patients and providers can access and understand the benefits of companion diagnostics.

This study involved four major activities in estimating the current size of the companion diagnostics market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate segments and subsegments’ market size.

Market Size Estimation:

Both top-down and bottom-up approaches were used to estimate and validate the companion diagnostics market’s total size. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry have been identified through extensive secondary research
  • The revenues generated by leading players operating in the companion diagnostics market have been determined through primary and secondary research
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources

 

In 2020, pharmaceutical & biotechnology companies and reference laboratories segment accounted for the largest share in the market, by end user.

The companion diagnostics market is segmented into pharmaceutical & biotechnology companies, reference laboratories, CROs, and other end users (including physician & hospital laboratories, and academic medical centers). In 2020, pharmaceutical & biotechnology companies accounted for a larger share of the companion diagnostics market. The growing use of companion diagnostics owing to their increasing prominence in drug development, and the increasing importance of companion diagnostic biomarkers.

Request Sample Pages:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=155571681

Key Players in Companion Diagnostics Market:

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

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/companion-diagnostics-market-155571681.html

Related Articles