DUBLIN--(BUSINESS WIRE)--The "Companion Diagnostics Market by Technology Type, and Indication: Global Opportunity Analysis and Industry Forecast, 2019-2026" report has been added to ResearchAndMarkets.com's offering.
According to the report, the global companion diagnostics market was valued at $ 1,678 million in 2018, and is expected to reach $6,452 million by 2026, growing at a CAGR of 18.3% from 2019 to 2026.
The companion diagnostics market is an emerging market and is anticipated to experience significant growth during the forecast period owing to increase in R&D of targeted therapies, rise in demand for personalized medicine with increase in awareness in emerging economies, discovery of new biomarkers for various conditions, and higher number of unmet needs for the treatment of cancer are majorly driving the companion diagnostics market growth.
Based on technology, the polymerase chain reaction (PCR) segment dominates the global market, and is anticipated to continue this trend during the forecast period. Some key factors driving the market growth are cost effectiveness, high sensitivity, and specificity and can be used for simple automated platforms. However, the next generation sequencing (NGS) segment is expected to experience rapid growth as it is an advanced technique as compared to the PCR with less turnaround times.
Based on indication, the global companion diagnostics market is segmented into oncology, neurology, and others. At present, the oncology segment is the major revenue generating segment and is estimated to experience significant growth during the forecast period.
Some key factors such as higher prevalence of cancer, rise in number of R&D activities for cancer, higher number of unmet need for treatment of cancer, surge in number of FDA approved companion diagnostics, and increase in awareness among the patients about personalized medicine are majorly driving the growth of the oncology segment.
North America accounted for approximately one-half of the global market share in 2018, and is expected to remain dominant throughout the forecast period. This was attributed to the higher usage of companion diagnostics, large presence of key players, increase in number of target population with high number of trained medical professionals.
While, Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to increase in demand for personalized medicine, development in the healthcare infrastructure, and rise in prevalence of different forms of cancer with higher number of unmet needs.
- Based on technology type, the PCR segment held more than one third share in the global market in 2018.
- Based on indication type, the oncology segment exhibits fastest growth and is expected to grow at a CAGR of 18.5% from 2019 to 2026.
- Based on oncology type, the breast cancer segment held largest market share in 2018, and is expected to remain dominant throughout the forecast period.
- Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 20.4% during the forecast period.
Key Topics Covered
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key forces shaping companion diagnostics industry/market
3.2.1. Moderate power of suppliers
3.2.2. High threat of new entrants
3.2.3. Low threat of substitution
3.2.4. Moderate competitive rivalry
3.2.5. Moderate power of buyers
3.3. Parent/peer market overview
3.5. Market evolution/industry roadmap
3.6. Government regulations for companion diagnostics
3.7. Market dynamics
126.96.36.199. Increased popularity of personalized medicine
188.8.131.52. Increase in cases of adverse drug reactions (ADRs)
184.108.40.206. Surge in healthcare expenditure worldwide
220.127.116.11. Technological advancements in diagnostic techniques
18.104.22.168. Unfavorable reimbursement policies in some countries
22.214.171.124. Growth opportunities in emerging markets
126.96.36.199. Increase in incidence of cancer across the globe
3.7.4. Impact analysis
CHAPTER 4: COMPANION DIAGNOSTICS MARKET, BY TECHNOLOGY
4.3. Polymerase chain reaction (PCR)
4.4. Next generation sequencing (NGS)
4.5. In situ hybridization
CHAPTER 5: COMPANION DIAGNOSTICS MARKET, BY INDICATION
CHAPTER 6: COMPANION DIAGNOSTICS MARKET, BY REGION
6.2. North America
CHAPTER 7: COMPETITIVE LANDSCAPE
7.2. Top winning strategies
7.3. Competitive dashboard
7.4. Competitive heatmap
CHAPTER 8: COMPANY PROFILES
8.1. Abbott Laboratories Molecular Inc.
8.2. Agilent (Dako Denmark A/S)
8.3. ARUP Laboratories Inc.
8.5. Danaher Corporation (Leica Microsystems)
8.6. Foundation Medicine Inc.
8.7. Myriad Genetics Inc.
8.8. Roche (Ventana Medical Systems Inc.)
8.9. Thermo Fisher Scientific (Life Technologies Corporation)
8.10. QIAGEN N.V.
For more information about this report visit https://www.researchandmarkets.com/r/wn48wp