Companion Diagnostics Market Overview A companion diagnostic is a medical device, often an in vitro device, which provides information that is essential for the safe and effective use of a corresponding drug or biological product. The test helps a health care professional determine whether a particular therapeutic product’s benefits to patients will outweigh any potentially serious side effects or risks.
Several factors significantly boosting the growth of the global Companion Diagnostics market such as advantages of companion diagnostics, the increasing need for targeted therapy, the rising importance of personalized medicine, and the ever-increasing application areas of companion diagnostics. Additionally, other important factors such as increasing demand for next-generation sequencing, the rising importance of companion diagnostics in drug development, and a large number of clinical trials are further propelling the growth of this market progressively.
Furthermore, the companion diagnostics market is anticipated to experience noteworthy growth throughout the forecast period due to growth in R&D of targeted therapies, the discovery of new biomarkers for numerous conditions, and a large number of unmet needs for the treatment of cancer are majorly escalating the growth of the global Companion Diagnostics market.
On the downside, poor reimbursement policies, and longer developmental and approval phases are factors that are hampering the growth of the Companion Diagnostics Market.
Covid-19 Impact on Companion Diagnostics Market In addition, the current Companion Diagnostics Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Companion Diagnostics Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.
Companion Diagnostics Market Segment Overview Based on the Technology, the Polymerase Chain Reaction (PCR) segment has the largest share of the global Companion Diagnostics market. The large share of this segment can be primarily attributed to the easy use and extensive availability of PCR kits & reagents in companion diagnostic testing. In addition, other factors such as rising applications of PCR in the high-throughput detection of mutants with a limited or low allele frequency of genes and high turnaround time of PCR as compared to other technologies are further support to the growth of this segment.
By End User, the Pharmaceutical & Biopharmaceutical Companies is an important segment in the market. This is because of the widespread usage of companion diagnostics in these industries due to their increasing prominence in drug development and the rising importance of companion diagnostic biomarkers. In addition to this, the escalating demand for personalized medicine as well as the huge demand for targeted therapies for several diseases and disorders are also projected to boost the demand and acceptance of companion diagnostics among pharmaceutical & biopharmaceutical companies.
Companion Diagnostics Market, By Product & Service
· Assay kits & Reagents
· Software & Services
Companion Diagnostics Market, By Technology
· Polymerase Chain Reaction (PCR)
· In Situ Hybridization (ISH)
· Next-Generation Sequencing (NGS)
· Immunohistochemistry (IHC)
· Others
Companion Diagnostics Market, By Indication
- Cardiovascular
- Neurological Diseases
- Cancer
- Breast Cancer
- Lung Cancer
- Colorectal Cancer
- Melanoma
- Gastric Cancer
- Infectious Diseases
- Others
Companion Diagnostics Market, By End User
· Pharmaceutical & Biopharmaceutical Companies
· Reference Laboratories
· CROs
· Others
Companion Diagnostics Market Regional Overview
In terms of region, North America is expected to dominate the global Companion Diagnostics Market. This is because of the rising incidence of cancer, increasing health care expenditure, and rising demand for personalized treatment in this region. Similarly, the companion diagnostics market in the Asia Pacific is anticipated to grow at a significant rate over the forecast period. The growth of the market in this region is mainly attributed to the increasing prevalence of cancer, remarkable growth in research funding, and rise in proteomics & genomics research. Moreover, increasing investments by pharmaceutical and biotechnology companies, and growing awareness about personalized therapeutics in many APAC countries are anticipated to propel the growth of the Asia Pacific market.
Companion Diagnostics Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Companion Diagnostics Market Competitor overviewSome key developments and strategies adopted by manufacturers in Companion Diagnostics are highlighted below.
· In August 2021, Riken Genesis Co., Ltd., Amoy Diagnostics Co., Ltd., and Precision Medicine Asia Co., Ltd. announced that the Ministry of Health, Labour and Welfare (MHLW) has approved the AmoyDx® Pan Lung Cancer PCR Panel as a companion diagnostic for TEPMETKO® a Merck KGaA, Darmstadt, Germany product that received approval by the Japanese MHLW in March 2020. TEPMETKO (tepotinib) is approved for use in patients with unresectable, advanced or recurrent non-small cell lung cancer with MET gene exon 14 skipping alterations.
· In August 2021, QIAGEN and OncXerna Therapeutics, Inc., a precision medicine company using an innovative RNA-expression based biomarker platform to predict patient responses to its targeted oncology therapeutic candidates, announced signing a master companion diagnostics (CDx) agreement to develop a NGS CDx for OncXerna’s product candidate, Navicixizumab, and a non-exclusive license to the Xerna™ TME panel.
Companion Diagnostics Market, Key Players
· F. Hoffmann-La Roche AG
· Agilent Technologies, Inc.
· QIAGEN N.V.
· Abbott Laboratories, Inc.
· Almac Group
· Danaher Corporation
· Illumina, Inc.
· bioMérieux SA (France),
· Myriad Genetics, Inc.,
· Sysmex Corporation
· Thermo Fisher Scientific Inc.
· Abnova Corporation
· Guardant Health, Inc.
· Icon Plc
· Biogenex Laboratories, Inc.
List of Figures
Figure 1: Global Companion Diagnostics Market Revenue Breakdown (USD Billion, %) by Region, 2019 & 2027
Figure 2: Global Companion Diagnostics Market Value Share (%), By Segment 1, 2019 & 2027
Figure 3: Global Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 4: Global Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 5: Global Companion Diagnostics Market Value Share (%), By Segment 2, 2019 & 2027
Figure 6: Global Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 7: Global Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 8: Global Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 9: Global Companion Diagnostics Market Forecast (USD Billion), by Others, 2016-2027
Figure 10: Global Companion Diagnostics Market Value Share (%), By Segment 3, 2019 & 2027
Figure 11: Global Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 12: Global Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 13: Global Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 14: Global Companion Diagnostics Market Forecast (USD Billion), by Others, 2016-2027
Figure 15: Global Companion Diagnostics Market Value (USD Billion), by Region, 2019 & 2027
Figure 16: North America Companion Diagnostics Market Value Share (%), By Segment 1, 2019 & 2027
Figure 17: North America Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 18: North America Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 19: North America Companion Diagnostics Market Value Share (%), By Segment 2, 2019 & 2027
Figure 20: North America Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 21: North America Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 22: North America Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 23: North America Companion Diagnostics Market Forecast (USD Billion), by Others, 2016-2027
Figure 24: North America Companion Diagnostics Market Value Share (%), By Segment 3, 2019 & 2027
Figure 25: North America Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 26: North America Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 27: North America Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 28: North America Companion Diagnostics Market Forecast (USD Billion), by Others, 2016-2027
Figure 29: North America Companion Diagnostics Market Forecast (USD Billion), by U.S., 2016-2027
Figure 30: North America Companion Diagnostics Market Forecast (USD Billion), by Canada, 2016-2027
Figure 31: Latin America Companion Diagnostics Market Value Share (%), By Segment 1, 2019 & 2027
Figure 32: Latin America Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 33: Latin America Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 34: Latin America Companion Diagnostics Market Value Share (%), By Segment 2, 2019 & 2027
Figure 35: Latin America Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 36: Latin America Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 37: Latin America Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 38: Latin America Companion Diagnostics Market Forecast (USD Billion), by Others, 2016-2027
Figure 39: Latin America Companion Diagnostics Market Value Share (%), By Segment 3, 2019 & 2027
Figure 40: Latin America Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 41: Latin America Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 42: Latin America Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 43: Latin America Companion Diagnostics Market Forecast (USD Billion), by Others, 2016-2027
Figure 44: Latin America Companion Diagnostics Market Forecast (USD Billion), by Brazil, 2016-2027
Figure 45: Latin America Companion Diagnostics Market Forecast (USD Billion), by Mexico, 2016-2027
Figure 46: Latin America Companion Diagnostics Market Forecast (USD Billion), by Rest of Latin America, 2016-2027
Figure 47: Europe Companion Diagnostics Market Value Share (%), By Segment 1, 2019 & 2027
Figure 48: Europe Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 49: Europe Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 50: Europe Companion Diagnostics Market Value Share (%), By Segment 2, 2019 & 2027
Figure 51: Europe Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 52: Europe Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 53: Europe Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 54: Europe Companion Diagnostics Market Forecast (USD Billion), by Others, 2016-2027
Figure 55: Europe Companion Diagnostics Market Value Share (%), By Segment 3, 2019 & 2027
Figure 56: Europe Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 57: Europe Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 58: Europe Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 59: Europe Companion Diagnostics Market Forecast (USD Billion), by Others, 2016-2027
Figure 60: Europe Companion Diagnostics Market Forecast (USD Billion), by U.K., 2016-2027
Figure 61: Europe Companion Diagnostics Market Forecast (USD Billion), by Germany, 2016-2027
Figure 62: Europe Companion Diagnostics Market Forecast (USD Billion), by France, 2016-2027
Figure 63: Europe Companion Diagnostics Market Forecast (USD Billion), by Italy, 2016-2027
Figure 64: Europe Companion Diagnostics Market Forecast (USD Billion), by Spain, 2016-2027
Figure 65: Europe Companion Diagnostics Market Forecast (USD Billion), by Russia, 2016-2027
Figure 66: Europe Companion Diagnostics Market Forecast (USD Billion), by Rest of Europe, 2016-2027
Figure 67: Asia Pacific Companion Diagnostics Market Value Share (%), By Segment 1, 2019 & 2027
Figure 68: Asia Pacific Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 69: Asia Pacific Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 70: Asia Pacific Companion Diagnostics Market Value Share (%), By Segment 2, 2019 & 2027
Figure 71: Asia Pacific Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 72: Asia Pacific Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 73: Asia Pacific Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 74: Asia Pacific Companion Diagnostics Market Forecast (USD Billion), by Others, 2016-2027
Figure 75: Asia Pacific Companion Diagnostics Market Value Share (%), By Segment 3, 2019 & 2027
Figure 76: Asia Pacific Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 77: Asia Pacific Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 78: Asia Pacific Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 79: Asia Pacific Companion Diagnostics Market Forecast (USD Billion), by Others, 2016-2027
Figure 80: Asia Pacific Companion Diagnostics Market Forecast (USD Billion), by China, 2016-2027
Figure 81: Asia Pacific Companion Diagnostics Market Forecast (USD Billion), by India, 2016-2027
Figure 82: Asia Pacific Companion Diagnostics Market Forecast (USD Billion), by Japan, 2016-2027
Figure 83: Asia Pacific Companion Diagnostics Market Forecast (USD Billion), by Australia, 2016-2027
Figure 84: Asia Pacific Companion Diagnostics Market Forecast (USD Billion), by Southeast Asia, 2016-2027
Figure 85: Asia Pacific Companion Diagnostics Market Forecast (USD Billion), by Rest of Asia Pacific, 2016-2027
Figure 86: Middle East & Africa Companion Diagnostics Market Value Share (%), By Segment 1, 2019 & 2027
Figure 87: Middle East & Africa Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 88: Middle East & Africa Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 89: Middle East & Africa Companion Diagnostics Market Value Share (%), By Segment 2, 2019 & 2027
Figure 90: Middle East & Africa Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 91: Middle East & Africa Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 92: Middle East & Africa Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 93: Middle East & Africa Companion Diagnostics Market Forecast (USD Billion), by Others, 2016-2027
Figure 94: Middle East & Africa Companion Diagnostics Market Value Share (%), By Segment 3, 2019 & 2027
Figure 95: Middle East & Africa Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 96: Middle East & Africa Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 97: Middle East & Africa Companion Diagnostics Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 98: Middle East & Africa Companion Diagnostics Market Forecast (USD Billion), by Others, 2016-2027
Figure 99: Middle East & Africa Companion Diagnostics Market Forecast (USD Billion), by GCC, 2016-2027
Figure 100: Middle East & Africa Companion Diagnostics Market Forecast (USD Billion), by South Africa, 2016-2027
Figure 101: Middle East & Africa Companion Diagnostics Market Forecast (USD Billion), by Rest of Middle East & Africa, 2016-2027
List of Tables
Table 1: Global Companion Diagnostics Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 2: Global Companion Diagnostics Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 3: Global Companion Diagnostics Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 4: Global Companion Diagnostics Market Revenue (USD Billion) Forecast, by Region, 2016-2027
Table 5: North America Companion Diagnostics Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 6: North America Companion Diagnostics Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 7: North America Companion Diagnostics Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 8: North America Companion Diagnostics Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 9: Europe Companion Diagnostics Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 10: Europe Companion Diagnostics Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 11: Europe Companion Diagnostics Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 12: Europe Companion Diagnostics Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 13: Latin America Companion Diagnostics Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 14: Latin America Companion Diagnostics Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 15: Latin America Companion Diagnostics Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 16: Latin America Companion Diagnostics Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 17: Asia Pacific Companion Diagnostics Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 18: Asia Pacific Companion Diagnostics Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 19: Asia Pacific Companion Diagnostics Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 20: Asia Pacific Companion Diagnostics Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 21: Middle East & Africa Companion Diagnostics Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 22: Middle East & Africa Companion Diagnostics Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 23: Middle East & Africa Companion Diagnostics Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 24: Middle East & Africa Companion Diagnostics Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Research Process
Data Library Research are conducted by industry experts who offer insight on
industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager
and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Primary Research
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary Research
Secondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size Estimation
Both, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
