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Companion Diagnostics Market by Technology, Indication, End User - Global Forecast to 2022

Companion Diagnostics Market: Global Forecast until 2022

  • August 2017
  • 178 pages
  • ID: 5048440
In this report:
In 2017, the NGS segment is expected to account for a share of ##.##% of the global companion diagnostics market, by technology, and is projected to grow at a CAGR of ##.##% from USD ##.## million in 2017 to USD ##.## million by 2022.
India and China collectively accounted for ~##% of the global lung cancer cases in 2012; this figure is expected to rise to ##% in 2020.

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Global companion diagnostics market forecasted to grow at Compound annual growth rate of 20.10 percent

The overall companion diagnostics market is estimated to grow ~$6.5B by 2022 from ~$2.6B in 2017, at a compound annual growth rate (CAGR) of 20.10 percent. The increase of this market is mainly driven by the Elements such as improvements in regulatory guidelines, increasing need for targeted therapies, growing cancer incidence across the world, and growing collaborations and alliances for companion diagnostics test development. Nevertheless, uncertain reimbursement scenarios in distinct countries including the U.S., the United Kingdom, Japan (JP), and Australia (AU) are anticipated to limit industry growth.

The assay kits & reagents segment is anticipated to rise at the quickest Compound annual growth rate'

On the basis of product and service, the companion diagnostics market is broken down into assay kits & reagents, and software & services.The assay kits & reagents segment recorded for the biggest market share in 2016 and is anticipated to register the highest CAGR (Compound annual growth rate) during the outlook period.

The important share can be attributed to its wide range of applications in platforms including PCR, NGS, IHC, and ISH.

The oncology segment to lead the overall companion diagnostics market with most important share and quickest Compound annual growth rate

Established on indication, the companion diagnostics market is further filed under oncology, infectious diseases, neurology, and other indications (including cardiovascular, inflammatory, and inherited diseases). In 2016, the oncology segment recorded for the biggest share and is also the quickest increasing segment of the market; this is primarily attributed to the increasing incidence of cancer that enhanced the focus on cancer research and also broadened the role of companion diagnostics in this field.

'"The pharmaceutical and biopharmaceutical companies segment is anticipated to grow at the quickest Compound annual growth rate

On the basis of end user, the pharmaceutical and biopharmaceutical companies segment recorded for the biggest share of the market in 2016.This end-user segment is also anticipated to register the highest compound annual growth rate (CAGR) during the estimate period.

The big share and rise of this market can be attributed to rising and significant application of companion diagnostics in the drug development process.

Asia-Pacific to witness the quickest increase during the outlook period (2017-2022)

North America (NA) held the biggest share of the overall companion diagnostics market in 2016, while Asia-Pac is anticipated to witness the highest increase during 2017 to 2022. Increasing need for tailored therapeutics by the elderly population, growing number of hospitals and diagnostic laboratories, and increasing prevalence of life-threatening diseases are driving the increase of the companion diagnostics market in the Asia Pacific (APAC) area.

Break of primary members taking part was as mentioned below:

• By Company category - Tier 1 - 45.0 percent, Tier 2 - 34.0 percent, and Tier 3 - 21.0 percent

• By Description - C-suite - 14.0 percent, D-level - 10.0 percent, and Others - 76.0 percent

• By Area - North America continent - 40.0 percent, Europe (EU) - 32.0 percent, Asia Pacific (APAC) - 20.0 percent, and rest of the world - 8.0 percent

Some of the main market actors in the companion diagnostics market are F. Hoffmann-La Roche AG, Agilent Technologies (NYSE:A), and QIAGEN N.V. controled the overall companion diagnostics market. Some of the other actors competing in this industry are Thermo Fisher Scientific (NYSE:TMO), Abbott Laboratories, Incorporated, Myriad Genetics, Incorporated, Danaher (NYSE:DHR), Almac Group, and Sysmex Corporation.

Segment Research

The market research examines the companion diagnostics market and aims at estimating market size and upcoming growth potential of this market established on several segments including product and service, type of medical device, application, and area. The industry report also comprises an detailed regulatory study for several areas across the world and competitive review of the top actors in this sector together with their company descriptions, product and service offerings, latest developments, and key industries strategies.

Reasons to Buy the Report

The study will increase established companies as well as new entrants/smaller companies to measure the pulse of the sector, which in turn would help garner a greater share. Companies obtaining the analysis could use one or any combination of the below-mentioned five strategies.

This industry report offers business insights on these pointers:

• Market Uptake: Exhaustive data on product and service portfolios provided by the top actors in the overall companion diagnostics market. The market research examines the overall companion diagnostics market by product and service, technology, indication, end-user, and area

• Product/Service Enhancement/Innovative products: In-depth understanding on upcoming trends and new product/service launches in the overall companion diagnostics market

• Market Development: Highlighted information on the profitable emerging sectors by product and service, type of medical device, application, and area

• industry diversification: Complete information about new product or products consolidations, increasing geographies, recent evolutions, and market investments in the overall companion diagnostics market

• opposing assessment: Detailed assessment of market shares, increase strategies, products, services, and capabilities of leading actors in the overall market.

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