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Press Release

Global Companion Diagnostics Market - Expected to Reach $6.5 Billion by 2023 - Research and Markets

Research and Markets
Posted on: 11 Dec 17

The "Global Companion Diagnostics Market Research Report Insights, Opportunity Analysis, Market Shares and Forecast, 2017 - 2023" report has been added to Research and Markets' offering.

The global companion diagnostics market is expected to grow at a CAGR of over 20.1% during the period of 2016-2023 to reach $6.51 billion.

Companion diagnostic tests are used for collecting patient information, dosing requirement, and susceptibility regarding the side effects of any particular drug. Companion diagnostics tests are also known as pharmacogenetic tests. While many drug labels provide guidance on pharmacogenetic testing, certain drugs specifically cancer drugs, require patients to receive a diagnostic test, as the efficacy of these drugs is limited to those with a particular genotype. Major driving forces of companion diagnostics are improved regulatory guidelines, rising cancer incidence across the globe, need for targeted therapies, and increasing collaborations and partnerships for test development. The companion diagnostics market is fastest growing segments of the IVD and clinical lab services markets.

The United States, over half of all FDA approvals for companion diagnostics have occurred since 2010. The closely associated pharmacodiagnostics IVD market is expected to grow annually by over 20%. Approval of CDX- assisted therapies, and high growth of market opened for laboratory tests and IVD products. Global companion diagnostics is facing challenges as prolonged development time of companion diagnostics, increasing duration of the approval, in spite of all challenges there are huge opportunities as process increasing new indication areas, increasing demand for next-generation sequencing, increasing number of clinical trials which will leverage the market of data fabric.

Companies Mentioned

  • ARUP Laboratories Inc
  • Abbott Laboratories, Inc.
  • Agilent Technologies, Inc.
  • Almac Group
  • Danaher Corporation
  • Danaher Corporation
  • F. Hoffmann-La Roche AG
  • GE Healthcare Ltd
  • Genomic Health, Inc.
  • Illumina, Inc
  • Life Technologies Corporation
  • Myriad Genetics, Inc.
  • Qiagen N.V.
  • Sysmex Corporation
  • Thermo Fisher Scientific Inc.

Key Topics Covered:

1. Introduction

2. Market Overview

3. Market Determinants

4. Market Segmentation

5. Competitive Landscape

6. Geographical Analysis

7. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/research/t85l5f/global_companion.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171211005677/en/

Business Wire
www.businesswire.com

Last updated on: 11/12/2017

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