Companion Diagnostics Market Challenges, Trend, Share, Industry Growth, Drivers, Key Companies by 2027
The Companion Diagnostics Market study relies heavily on both qualitative and quantitative to generate, interpret and analyze raw data about the target market, product or services offered and prominent market players operating in the Companion Diagnostics Market for the forecast period, 2021 – 2027. The new intelligence study further digs deep to extract all data pertaining to aspects such as production capability, spending power, customer preference and potential customers to offer usable business information.
Increasing emphasis on personalized medicine should pave the way for companion diagnostics because it forms an integral part of personalized medicine. Owing to increased identification, care, and surveillance of a variety of illnesses, biomarkers and companion diagnostics have seen strong demand. Such diagnostic assessments increase the product development cycle by rising and growing the research and development costs and raising the approval rates of the drug.
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The strategic growth research technique adopted by the subject matter experts behind this study full weighs upon the product application, product types and important industry terminologies and definition to help business owners to build a robust business plan as well as a progressive map for their product and services. Moreover, the agile methods to assess various factors including demand and supply status, consumption volume, customer preference, spending capacity and import and export trends work as a boon to those diversifying in a new line of product. To triangulate the different aspects of data on the Companion Diagnostics market critical data are showcased intellectually through resources such as infographics, charts, and tables.
Companies profiled in the global Companion Diagnostics market:
Agilent Technologies, Foundation Medicine, Myriad Genetic Laboratories, Thermo Fisher Scientific, Johnson & Johnson, Arup Laboratories, Abbott, MolecularMD, BioMérieux, and Illumina, among others.
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- Based on technology, genetic sequencing generated a revenue of USD 0.47 billion in 2019. It projected to rise with a CAGR of 17.6% in the forecast period due to the highly technological sequencing methods that allow the detection of mutations, fusions, alterations in copy numbers, tumor mutation burden, microsatellite instability, etc.
- The skin cancer disease indication expected to grow with a CAGR of 18.1% in the forecasted period attributable to the increasing skin cancer incidence due to medication side effects and prolonged sensitivity to toxic sun rays are helping doctors to manage patients with skin cancer.
- The hospital application is the major contributor to the Companion Diagnostics Market. The hospital application of the North America region is the major shareholder of the market and held around 59.5% of the market in the year 2019, due to the availability of established hospital infrastructure, and qualified professionals increase the inclination of patients towards hospitals coupled with the growing patient pool due to a high incidence of chronic diseases would be helpful for the growth of the market.
The global Companion Diagnostics market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global In-Vitro Fertilization market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.
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For the purpose of this report, Emergen Research has segmented into the global Companion Diagnostics Market based on the technology, disease indication, application, and region:
- Technology Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- In Situ Hybridization
- Polymerase Chain Reaction
- Genetic Sequencing
- Disease Indication Outlook (Volume, Kilotons; 2017-2027, Revenue, USD Billion; 2017-2027)
- Breast Cancer
- Lung Cancer
- Colorectal Cancer
- Skin Cancer
- Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Diagnostic Laboratories
Key point summary of the report:
- The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
- It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
- The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
- It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
- Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
- The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
- The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
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