Companion Diagnostics Market - Growth, Trends, and Forecasts 2020-2025: Rising Focus on Personalized Medicine and the Co-Development of Drug and Diagnostic Technologies - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Companion Diagnostics Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

The growth of the global companion diagnostics market can be attributed to the rising focus on personalized medicine and the co-development of drug and diagnostic technologies. Additionally, rising cases of adverse drug reactions related to drugs, due to the lack of efficacy, drive the need for companion diagnostics.

One of the major factors driving the growth of the companion diagnostics market is the increasing demand for personalized medicines and awareness about the same, among the population. With companies increasing their collaborations for better biomarkers and diagnostics, in order to focus on cost regulations, there has been a significant number of opportunities for its applications in indications, like cancer, cardiovascular, and neurological disorders.

Key Market Trends

Application in Lung Cancer is expected to Dominate the Market over the Forecast Period

Companion diagnostic tests (CDXs) are considered mandatory in decision-making for treatment with targeted therapies in lung cancer. The emergence of immunotherapy has also given rise to the development of CDXs. Therascreen EGFR RGQ PCR Kit (Qiagen) and Cobas EGFR Mutation Test v2 (Roche Molecular Systems) are some of the many companion diagnostics available for lung cancer therapies.

North America Captured the Largest Market Share and is Expected to Retain its Dominance

North America dominated the overall companion diagnostics market, with the United States emerging as the major contributor to the market. The use of companion diagnostics is considered as an important treatment decision tool for a number of oncology drugs, which is also reflected in the way the FDA classifies these assays, in relation to risk.

Competitive Landscape

The presence of major market players, such as Abbott Laboratories, Agilent Technologies Inc., F Hoffmann-La Roche Ltd, Biomerieux SA, and Qiagen NV, is increasing the overall competitive rivalry of the market studied.

Key Topics Covered:

1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Companies Promoting Personalized Medicine and Targeted Therapy as a New Treatment Option

4.2.2 Increasing Cases of Adverse Drug Reactions

4.2.3 Co-development of Drug and Diagnostic Technology

4.3 Market Restraints

4.3.1 High Cost of Drug Development and Associated Clinical Trials

4.3.2 Reimbursement Issues among Many Countries

4.4 Industry Attractiveness - Porter's Five Forces Analysis

5 MARKET SEGMENTATION

5.1 By Technology

5.1.1 Immunohistochemistry (IHC)

5.1.2 Polymerase Chain Reaction (PCR)

5.1.3 In-situ Hybridization (ISH)

5.1.4 Real-time PCR (RT-PCR)

5.1.5 Gene Sequencing

5.1.6 Other Technologies

5.2 By Indication

5.2.1 Lung Cancer

5.2.2 Breast Cancer

5.2.3 Colorectal Cancer

5.2.4 Leukemia

5.2.5 Melanoma

5.2.6 Other Indications

5.3 By Geography

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

6.1.1 Abbott Laboratories

6.1.2 Agilent Technologies Inc.

6.1.3 F Hoffmann-La Roche Ltd

6.1.4 Biomerieux SA

6.1.5 Qiagen NV

6.1.6 Siemens Healthcare

6.1.7 Thermo Fisher Scientific Inc.

6.1.8 Danaher Corporation (Beckman Coulter Inc.)

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/l6rxe