Companion Diagnostic Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product and Services (Kits and Reagents, Assays, Software, and Services), By Technology (PCR, NGS, In-Situ Hybridization, Immunohistochemistry, and Others), By Disease Indication (Oncology, Neurology, Cardiology, Infectious Diseases, and Others), By Application (In-Vitro Diagnostics

Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format

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Companion Diagnostic Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product and Services (Kits and Reagents, Assays, Software, and Services), By Technology (PCR, NGS, In-Situ Hybridization, Immunohistochemistry, and Others), By Disease Indication (Oncology, Neurology, Cardiology, Infectious Diseases, and Others), By Application (In-Vitro Diagnostics

Forecast Period2024-2028
Market Size (2022)USD 5.63 Billion
CAGR (2023-2028)11.76%
Fastest Growing SegmentOncology
Largest MarketNorth America
MIR Biotechnology

Market Overview

Key Market Drivers

Increasing Demand for NGS-Based Technology

Companion Diagnostics for the Targeted Cancer Drugs

MIR Segment1

Advancements in The Latest Technologies

Rising Use of Personalized Medicine

Key Market Challenges

Lack of Awareness and High Cost of Companion Diagnostics Techniques

MIR Regional

Lack of Resources in Underdeveloped Nations

Key Market Trends

Growing Importance of Promotional Activities

Growing advancements in biologics

Segmental Insights

Technology Insights

The Polymerase Chain Reaction (PCR) segment is currently dominating the market share and is expected to experience significant growth throughout the forecast period. This can be attributed to its cost-effectiveness, high sensitivity, and specificity, which are crucial factors driving the expansion of the market. Moreover, PCR can be employed on simple automated platforms, further enhancing its appeal. Furthermore, PCR plays a vital role in determining the sequencing of unknown etiologies for various diseases, making it an indispensable driver of this segment. Its ability to accurately identify the genetic makeup of pathogens contributes to better understanding and diagnosis of diseases.

End User Insights

The companion diagnostics market is fragmented into various segments, including Pharmaceutical & Biotechnology Companies, Research Laboratories, Contract Research Organizations, and Others. Among these, the Pharmaceutical & Biotechnology Companies segment holds the largest market share. This can be attributed to the growing utilization of companion diagnostics in drug development and the increasing significance of companion diagnostic biomarkers. Companion diagnostics play a crucial role in personalized medicine, helping to identify patients who are most likely to benefit from a specific treatment. This not only improves patient outcomes but also enhances the efficiency and effectiveness of the drug development process. With advancements in technology and the increasing focus on precision medicine, the demand for companion diagnostics is expected to further rise in the coming years.

Regional Insights

Recent Developments

  • In August 2022, theU.S. FDA granted premarket approval for Thermo Fisher Scientific's Oncomine DxTarget Test as a companion diagnostic (CDx) to identify patients with HER2(ERBB2) activating mutations (SNVs & Exon 20 Insertion) in non-small-celllung cancer (NSCLC), who may be suitable candidates for ENHERTU(fam-trastuzumab deruxtecan-nxki).
  • In February 2022,Genetron Holdings Limited, a prominent precision oncology platform company inChina specializing in molecular profiling tests, early cancer screeningproducts, and companion diagnostics development, entered into a collaborationagreement with HUTCHMED (China) Limited to develop a companion diagnostic(CDx).
  • In January 2022,Amoy Diagnostics Co. Ltd and PREMIA Holdings (HK) Limited launched the AmoyDxPan Lung Cancer PCR Panel (the "PLC Panel") in Japan as a reimbursedcompanion diagnostic for multiple anti-cancer agents.

Key Market Players

  • Abbott Laboratories Inc.
  • Agilent Technologies Inc.
  • F.Hoffmann-La Roche Ltd
  • Biomerieux SA
  • Qiagen NV
  • Siemens Healthcare
  • Thermo Fisher Scientific Inc.
  • Danaher Corporation (Beckman Coulter Inc.)
  • Myriad Genetics Inc.
  • Illumina Inc.

 By Product and Services

By Technology

By Disease Indication

By Application

By End User

By Region

 
  • Kits and Reagents
  • Assays
  • Software
  • Services
  • PCR
  • NGS
  • In-Situ Hybridization
  • Immunohistochemistry
  • Others
  • Oncology
  • Neurology
  • Cardiology
  • Infectious Diseases
  • Others
  • In-Vitro Diagnostics
  • Drug Discovery
  • Others
  • Pharmaceutical & Biotechnology Companies
  • Research Laboratories
  • Contract Research Organization Others
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

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