APAC to Dominate Companion Diagnostic Market During Forecast Period

Advantages offered by companion diagnostics and growing significance of companion diagnostics in drug development is expected to drive the growth of global companion diagnostic market

According to TechSci Research report, “Global Companion Diagnostic Market, By Technology (Nanostring Technology, Next-Generation sequencing, In-Situ Hybridization, Immunohistochemistry and Others), By Products (Devices, Kits and Assay), By Indication (Oncology, Respiratory, Orthopedics and Others), By End-User (Pharmaceutical & Biotechnology Companies, Research Laboratories, Contract research organization and others), By Application (Drug Discovery, In-Vitro diagnostics and Others), By Region, Competition, Forecast & Opportunities, 2025”, global companion diagnostic market is expected to grow with an impressive CAGR over the forecast period. Rising application areas of companion diagnostics is one of the major factors contributing to the growth of global companion diagnostic market over the course of next five years. Moreover, growing awareness about the advantages of companion diagnostics coupled with rising importance of personalized medicines worldwide is further expected to propel the demand for global companion diagnostic until 2025. Moreover, rising requirement for next-generation sequencing is anticipated to positively influence the growth of companion diagnostic market across the globe. Additionally, mounting importance of companion diagnostics in drug development coupled with discovery of new biomarkers for various medical conditions are some other factors fueling the growth of global companion diagnostic market during the next five years. Furthermore, high cost of companion diagnostic tests might hamper the growth of global companion diagnostic market in the years to come.

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Global companion diagnostic market is segmented based on technology, products, indication, end-user, application, company and region. Considering the technology, the market is fragmented into nanostring technology, next-generation sequencing, in-situ hybridization, immunohistochemistry and others. The in-situ hybridization technology is anticipated to register rapid growth during the forecast period because when compared to immunochemistry and other techniques, this technology predominantly Fluorescence in-situ hybridization (FISH), is reliable, sensitive, reproducible, accurate, and less affected by tissue fixation and other analytical variables. Moreover, ongoing technological advancements, such as development of bright-field in-situ hybridization techniques, the automated silver-enhanced in-situ hybridization (SISH), and chromogenic in-situ hybridization (CISH), for determining the gene status is further projected to boost the growth of segment over the course of next five years.

NG Biotech, Agilent Technologies, Illumnia, Qiagen, Thermo Fisher Scientific, Roche, Molecular MD, Myriad Genetics, Foundation Medicine, Bayer, Genentech, Abbott, Novartis, Perkin Elmer, Luminex Corporation, Parexel, Quest Diagnostics, Genesys Diagnostics, Danaher, Siemens Healthcare, Biomerieux SA. are among others are the leading players operating in global companion diagnostic market. The market players are adopting several growth strategies to enhance their share in companion diagnostic market.

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“Asia-Pacific is forecast to dominate the global companion diagnostic market until 2025 on account of high incidences of cancer in the region. Moreover, ever-increasing proteomics & genomics research in developing countries such China, India, and Japan are anticipated to contribute to the growth of the companion diagnostic market. Furthermore, growing funding for research along with rising investments by pharmaceutical and biotechnology companies is further expected to boost the regional growth of companion diagnostic market over the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Companion Diagnostic Market By Global Companion Diagnostic Market, By Technology (Nanostring Technology, Next-Generation sequencing, In-Situ Hybridization, Immunohistochemistry and Others), By Products (Devices, Kits and Assay), By Indication (Oncology, Respiratory, Orthopedics and Others), By End-User (Pharmaceutical & Biotechnology Companies, Research Laboratories, Contract research organization and others), By Application (Drug Discovery, In-Vitro diagnostics and Others), By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global companion diagnostic market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global companion diagnostic market.

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