Companion Diagnostics Market Size, Trends and Forecast 2028

IMARC Group, a leading market research company, has recently releases report titled “Companion Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global companion diagnostics market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the companion diagnostics market?

The global companion diagnostics market size reached US$ 5.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.3 Billion by 2028, exhibiting a growth rate (CAGR) of 14.4% during 2023-2028.

What is companion diagnostics?

Companion diagnostics are a range of tests that help to match a patient to a particular therapy or drug. These tests are performed through an in-vitro medical device that offers essential information for the safe and effective use of a corresponding drug or biological product. These tests help in diagnosing different categories of diseases, including infectious, neurological, and cardiovascular diseases. Consequently, companion diagnostics are extensively utilized by laboratories, pharmaceuticals, and research institutes.

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What are the growth prospects and trends in the companion diagnostics industry?

The rising demand for personalized medicine across the globe is majorly driving the companion diagnostics market growth. The rising awareness regarding the discovery of new biomarkers for diverse medical conditions are further contributing to the market growth. In line with this, an increasing number cases of adverse drug reactions (ADRs) due to the lack of efficacy of treatment methods are fueling the market growth. Furthermore, rising research and development (RD) activities for the development of novel diagnostic tests for chronic diseases are creating a positive outlook for the market.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product & Service:

• Assays, Kits and Reagents
• Software and Services

Breakup by Technology:

• Immunohistochemistry (IHC)
• Polymerase Chain Reaction (PCR)
• In-situ Hybridization (ISH)
• Real-time PCR (RT-PCR)
• Gene Sequencing
• Others

Breakup by Indication:

• Cancer
  • Lung Cancer
  • Breast Cancer
  • Colorectal Cancer
  • Gastric Cancer
  • Melanoma
  • Others
• Neurological Diseases
• Infectious Diseases
• Cardiovascular Diseases
• Others

Breakup by End User:

• Pharmaceutical & Biopharmaceutical Companies
• Reference Laboratories
• Contract Research Organizations
• Others

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

• Abbott Laboratories
• Agilent Technologies
• BioMerieux
• Danaher Corporation
• Roche Holding AG
• Myriad Genetics Inc.
• Siemens Healthcare
• Thermo Fisher Scientific Inc.

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