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GLOBAL COMPANION DIAGNOSTICS MARKET WORTH USD 6.53 BILLION BY 2024

Mourya
Mourya
The report "COMPANION DIAGNOSTICS MARKET": By Type (Iodinated Contrast, Gadolinium-Based Contrast Media, Microbubble Contrast Media, Barium-Based Contrast Media); By Strategic Analysis (Value Chain Analysis, Pricing Analysis, Opportunities Analysis); By Technology (Polymerase Chain Reaction, Sequencing-Based, In Situ Hybridization, Immunohistochemistry); By Indication (Oncology, Neurology, Infectious Diseases); By End-Users (Pharmaceutical and Biopharmaceutical Companies, Reference Laboratories, Cathode-Ray Oscilloscope); & By Geography - Forecast (2018-2024). Envision intelligence estimates that the Companion Diagnostics market size is projected to reach USD 6.53 Billion by the end of 2024 with a CAGR of 26.3%. Download Free Sample Brochure at https://www.envisioninteligence.com/industry-report/companion-diagnostics-market/ Companion Diagnostics evaluate the efficacy and safety of a drug and also optimum dosage for treatment. These are developed based on companion biomarkers, which helps to predict severe toxicity. It is used as a companion to a therapeutic drug to determine its applicability to a specific person. Growing need for targeted therapies, improvements in regulatory guidelines, increasing collaborations and partnerships for companion diagnostics test development, growing role of theranostics in disease treatment, increasing significance of personalized medicine, next-generation sequencing and technological innovations, and developments in predictive biomarkers are driving the companion diagnostics market share during the forecast period. As per companion diagnostics market report, Oncology Segment holds the largest market share and also fastest growing segment Oncology segment is expected to be the fastest growing segment which is extensively used for detecting breast cancer, rising number of clinical trials targeting cancer biomarkers for lung, prostate cancers, and breast, reduction in cost of drug discovery for companion diagnostic test in oncology. Based on technology, Polymerase Chain Reaction reckons holds the largest value of companion diagnostics market Polymerase chain reaction segment holds the largest market share and Next-generation sequencing is expected to have the highest CAGR due to its ease of use and it does not require many samples for biomarker identification. Based on End-User, the pharmaceutical & Bio Pharmaceutical Companies segment is expected to expand the companion diagnostics market by 2020 The Pharmaceutical & Bio Pharmaceutical segment reckons for the largest market share due to the wide use of companion diagnostic kits among pharmaceutical, bio pharmaceutical companies, and development of drug launch continue to concern the pharmaceutical sector. Due to current escalating costs of drug discovery the value of companion diagnostics market is expected to grow at a high rate. North America holds the largest market share and is expected to grow at a high rate during the forecast period owing to the presence of key players. The U.S captures a dominant market share about 44.3% and is expected to have a stunning growth during the forecast period. Asia-Pacific is expected to have the highest CAGR during the forecast period due to the increasing number of hospitals and diagnostic laboratories and growing prevalence of life-threatening diseases. The key players of the global companion diagnostics market include: Hoffmann-La Roche AG Agilent Technologies, Inc. Qiagen N.V. Abbott Laboratories, Inc. Biomérieux SA