Companion Diagnostics Market To Rise At A Steady Growth Rate In The Coming Years
Companion diagnostics is an in-vitro diagnostics device which provide information about therapeutic responses of patients for a specific treatment. The global companion diagnostics market report has been segmented on the basis of technology, therapeutic area, and region.
Increasing prevalence of various diseases such as cancer, neurological disorders, cardiovascular diseases is expected to drive the companion diagnostics market growth over the forecast period. Increasing number of clinical trials is expected to boost the adoption of companion diagnostics. Rising number of strategic collaborations for development of companion diagnostics test is expected to propel the market growth over the forecast period.
Based on technology, the global companion diagnostics market is segmented based on polymerase chain reaction (PCR), immunohistochemistry (IHC), in situ hybridization (ISH), and next-generation sequencing. The polymerase chain reaction (PCR) segment accounts major share of the market as the tests can be rapidly performed and it is easy to use as compared to other technologies.
Therapeutic area segment includes oncology, cardiovascular, central nervous system, auto immune & inflammation and virology. The oncology segment in global companion diagnostics market is expected to witness rapid growth rate owing to increasing incidence of cancer globally.
Regional segmentation includes North America, Europe, Latin America, Asia Pacific and Middle East and Africa. North America contributes major market share and expected to maintain its dominance over the forecast period owing to increasing number of approval for companion diagnostics and implementation of well-structured regulatory policies for the approval of the devices in the region. Asia Pacific region is expected to witness rapid growth rate over the forecast period. Countries like India, China, is expected to support the growth of Asia Pacific, owing to the improving healthcare infrastructure and increasing prevalence of chronic diseases in the region.
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Some prominent players in the global companion diagnostics market are Roche Diagnostics, Agilent Technologies, Inc., QIAGEN N.V., Abbott Laboratories Inc., Ventana Medical Systems, Inc., bioMerieux, Myriad Genetics, Inc., Leica Microsystems GmbH, Resonance Health Ltd., and Thermo Fisher Scientific.
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