LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global companion diagnostics market since 2014 and the market is poised to grow by USD 4.12 billion during 2019-2023, progressing at a CAGR of nearly 25% during the forecast period. Request Free Sample Pages
Read the 128-page research report with TOC on "Companion Diagnostics Market Analysis Report by End-User (Life science, Health centers, and Others), by Geography (Americas, EMEA, and APAC), and Segment Forecasts, 2019 – 2023."
The market is driven by the rising use of personalized medicine. In addition, the increasing occurrence of breast cancer is anticipated to further boost the growth of the companion diagnostics market.
The rising use of personalized medicine will be one of the major drivers in the global companion diagnostics market. Various kinds of diseases can be treated in a more efficient and improved way with the help of personalized medicines, which are a multi-faceted method of patient care. It also offers the potential to distinguish diseases at an earlier stage, which makes it easier for practitioners to treat the health conditions effectively. The popularity of personalized medicine can further be attributed to its specificity in treating a disease based on an individual’s genetic characteristics. The fact that personalized medicines increase the quality of clinical practice owing to its targeted care pathway and reduced overall cost of healthcare make them a viable choice for companion diagnostics. These factors will boost the global market during the forecast period of 2019-2023.
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Major Five Companion Diagnostics Market Companies:
Abbott operates the businesses under various segments such as established pharmaceuticals, nutritionals, diagnostics, vascular, and others. The company offers a wide range of companion diagnostics. Some of the products offered by the company are PathVysion HER-2 DNA Probe Kit and Vysis ALK Break Apart FISH Probe Kit.
Agilent Technologies operates the business under three segments, which include life sciences and applied markets; diagnostics and genomics; and Agilent crossLab. The company’s key offerings include HercepTest Kits and EGFR pharmDx Kits.
F. Hoffmann-La Roche
F. Hoffmann-La Roche operates the business operations under the pharmaceuticals division and the diagnostics division. The product offered by the company is VENTANA ALK (D5F3) CDx Assay which is used to provide timely results using fully automated, ready-to-use reagents.
QIAGEN operates the business under two segments, which include consumables and related and instrumentation. The company’s key offerings include therascreen EGFR RGQ PCR Kit and therascreen KRAS test.
Thermo Fisher Scientific
Thermo Fisher Scientific operates the businesses under the following segments: life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and services. The company’s key offering in the companion diagnostics market includes the Oncomine Dx Target Test.
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Companion Diagnostics End-User Outlook (Revenue, USD Million, 2019 - 2023)
- Life Science
- Health Centers
Companion Diagnostics Regional Outlook (Revenue, USD Million, 2019 - 2023)
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