Global “Companion Diagnostics Market” Report 2021 (value and volume) by company, regions, product types, end industries, history data and estimate data. Also, Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions. This report focuses on the Companion Diagnostics in the Global market, especially in the United States, Europe, China, Japan, South Korea, North America, India. Companion Diagnostics Market report categorizes the market based on manufacturers, regions, type, and application. Companion Diagnostics Market reports offer a detailed assessment of the Companion Diagnostics including enabling technologies, current market situation, market assumptions, restraining factors.
The Global Companion Diagnostics market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.
The global companion diagnostics market has been estimated at USD 5.8 billion in 2017. The market is expected to register a CAGR of 22.7% during the forecast period (2018-2023). North America accounted for the largest market share, accounting for approximately 35% of the global market in 2017, while the Asia-Pacific region is estimated to register the fastest CAGR over the forecast period (2018-2023).
Personalized Medicines Accelerating Market Demand
One of the major factors driving the growth of the companion diagnostic market is the increasing demand for personalized medicines and awareness about the same among the population. Rising cases of adverse drug reactions related to drugs, due to the lack of efficacy, drive the need for companion diagnostics. With companies increasing their collaborations for better biomarkers and diagnostics to focus on cost regulations, there have been significant number of opportunities of its applications in indications other than cancer, like cardiovascular, neurological, etc. The high rise in capital is the basis for the prosperous future of this market .
High Cost of Development of Therapeutics A Major Hurdle
One of the major hurdles restraining the market includes high cost involved in the development of therapeutics and diagnostic tests. With the high risk of failure in clinical trials, many companies prefer collaborations, in order to minimize their failure rate. But co-development is also expected to be highly expensive. So, for many individual manufacturers, the market seems to involve high-risk investment. Apart from this, several diagnostic companies feel uncertain over eventual agreement on the reimbursement status. All these factors restrict the markets growth globally.
North America Dominates the Market
The global market for companion diagnostics is segmented on the basis of technology type, indication, and geographical regions. By geography, the market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
North America accounted for the largest market share, accounting for approximately 35% of the global market in 2017. The efficacy of several drugs range between 30-75%, and there have been rising cases of side effects related to therapeutics, such as Vioxx and Avandia, which has prompted people to look for alternatives and raised their awareness regarding the benefits of personalized medicine. These factors are driving the North American market. Apart from this, the Asia-Pacific region was estimated to register the fastest CAGR over the forecast period.
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The global Companion Diagnostics market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.
Companion Diagnostics Market Report covers the Top Key-players in 2021:-
- Abbott Laboratories
- Dako (Agilent Technologies)
- Roche Holdings
- Qiagen NV
- Seimens Helthineers
- Takeda Pharmaceuticals
- Myriad Genetics
- Thermo Fisher Scientific
- Illumina Inc.
Highlighted points of Companion Diagnostics Market Size:
- Covers the varying market dynamics of the industry.
- In-depth analysis of market risks, opportunities, limitations, and growth of the market.
- Includes market driving and restraining factors.
- Participants profiles along with product description, overview, and business data.
- Include details of five years of forecast analysis by types, regions, and applications.
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This Companion Diagnostics Market Research/analysis Report Contains Answers to your following Questions
- Which Manufacturing Technology is Used for Companion Diagnostics? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Companion Diagnostics Market? What’s Their Company Profile, Their Product Information, Contact Information?
- What Was Global Market Status of Companion Diagnostics Market? What Was Capacity, Production Value, Cost and PROFIT of Companion Diagnostics Market?
- What Is Current Market Status of Companion Diagnostics Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Companion Diagnostics Market by Taking Applications and Types in Consideration?
- What Are Projections of Global Companion Diagnostics Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What About Import and Export?
- What Is Companion Diagnostics Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Companion Diagnostics Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Companion Diagnostics Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for Companion Diagnostics Industry?
Key Developments in the Companion Diagnostics Market:
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Finally, the report Global Companion Diagnostics Market 2021 describes the Companion Diagnostics industry expansion game plan, the Companion Diagnostics industry knowledge supply, appendix, analysis findings, and the conclusion.
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