Companion Diagnostics Market Size was estimated at USD 7.8 billion in 2022 and is poised to reach at 18.2 billion in 2030 anticipated to expand at a compound annual growth rate approx. CAGR of 11.2% for the forecast period of 2023-2030.
The Companion Diagnostics Market Report provides a comprehensive analysis of the global Companion Diagnostics market, highlighting key trends, growth drivers, challenges, and opportunities. The report aims to assist industry stakeholders in making informed decisions and formulating effective strategies.
The Companion Diagnostics Market is a rapidly growing sector in the healthcare industry that holds immense potential for improving patient outcomes and revolutionizing personalized medicine. Companion diagnostics are medical devices or tests that provide information about a patient’s genetic makeup, enabling healthcare professionals to tailor treatment plans specifically to individual patients.
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One of the key drivers behind the growth of this market is the increasing prevalence of chronic diseases such as cancer, cardiovascular disorders, and neurological conditions. These diseases often require targeted therapies that can be more effective when accompanied by companion diagnostics. By identifying specific biomarkers or genetic mutations in patients, companion diagnostics help determine whether a particular therapy will be beneficial or if alternative treatments should be considered.
Moreover, companion diagnostics play a crucial role in drug development and clinical trials. They enable pharmaceutical companies to identify patient populations that are most likely to respond positively to their experimental drugs, thus streamlining the drug development process and reducing costs associated with failed trials.
KEY MARKET SEGMENTS
By Technology Type
- Frequency Immunohistochemistry
- Polymerase Chain Reaction (PCR)
- Next Generation Sequencing (NGS)
- In Situ Hybridization
- Others
By Indication
- Oncology
- Neurology
- Others
Major Players Listed in the Report are as Follows:
Agilent Technologies, Inc., Illumina, Inc., QIAGEN N.V., Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche Ltd., ARUP Laboratories, Abbott, Myriad Genetics, Inc., bioMérieux SA, Invivoscribe, Inc., and others.
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