Companion Diagnostics: World Market Outlook 2019-2024 - Increasing Demand for Next-Generation Sequencing Prompts Opportunity
DUBLIN, Sept. 24, 2019 /PRNewswire/ -- The "Companion Diagnostics Market by Product & Service (Assay, Kit, Software & Service), Technology (PCR, NGS, ISH, IHC), Indication (Breast, Lung & Colorectal Cancer, Cardiovascular Disease), End-User (Pharma Companies, CRO), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
http://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
In this report, the companion diagnostics market is segmented on the basis of product & service, technology, indication, end-user, and region
The companion diagnostics market is projected to reach USD 7,299.4 million by 2024 from USD 3,515.8 million in 2019, at a CAGR of 15.7% during the forecast period.
The growth of the companion diagnostics market is primarily tied to the advantages of companion diagnostics, the growing need for targeted therapy, the growing importance of personalized medicine, the increasing global incidence of cancer, and the growing application areas of companion diagnostics.
The increasing demand for next-generation sequencing, the growing significance of companion diagnostics in drug development, and the increasing number of clinical trials are also expected to present growth opportunities for players in the market.
On the other hand, the high cost of companion diagnostic tests and the uncertain reimbursement scenario in different regions may limit the adoption of these tests, which will have a negative impact on market growth. The shortage of trained professionals may also challenge market growth to a certain extent in the coming years.
Some of the major players in the companion diagnostics market include F. Hoffmann-La Roche AG (Switzerland), Agilent Technologies, Inc. (US), QIAGEN N.V. (Netherlands), Abbott Laboratories, Inc. (US), Almac Group (UK), Danaher Corporation (US), Illumina, Inc. (US), bioMerieux SA (France), Myriad Genetics, Inc., (US), Sysmex Corporation (Japan), Thermo Fisher Scientific Inc. (US), Abnova Corporation (Taiwan), and GUARDANT HEALTH, INC. (US).
Reasons to Buy the Report
This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one, or any combination of the below mentioned five strategies for strengthening their market presence.
-- Market Penetration: Comprehensive information on the product portfolios
offered by the top players in the global companion diagnostics market.
-- Product Development/Innovation: Detailed insights on the upcoming
trends, R&D activities, and service launches in the global companion
diagnostics market.
-- Market Development: Comprehensive information on the lucrative emerging
regions.
-- Market Diversification: Exhaustive information about new products,
growing geographies, and recent developments in the global companion
diagnostics market.
-- Competitive Assessment: In-depth assessment of product offered, market
shares, growth strategies, and revenue analysis of leading players in
the global companion diagnostics market.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Companion Diagnostics: Market Overview
4.2 Asia Pacific: Companion Diagnostics Market, By End User (2018)
4.3 Regional Mix: Companion Diagnostics Market
4.4 Companion Diagnostics Market: Developing vs. Developed Countries
4.5 Geographical Snapshot of the Companion Diagnostics Market
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Advantages of Companion Diagnostics
5.2.1.2 Growing Need for Targeted Therapy
5.2.1.3 Growing Importance of Personalized Medicine
5.2.1.4 Increasing Global Incidence of Cancer
5.2.1.5 Growing Application Areas of Companion Diagnostics
5.2.2 Restraints
5.2.2.1 High Cost of Companion Diagnostic Tests
5.2.2.2 Uncertain Reimbursement Scenario in Different Regions
5.2.3 Opportunities
5.2.3.1 Increasing Demand for Next-Generation Sequencing
5.2.3.2 Growing Significance of Companion Diagnostics in Drug Development
5.2.3.3 Increasing Number of Clinical Trials
5.2.4 Challenges
5.2.4.1 Shortage of Trained Professionals
6 Industry Insights
6.1 Introduction
6.2 Industry Trends
6.2.1 Growing Focus on Liquid Biopsy in Companion Diagnostics
6.2.2 Increasing Collaborations
6.3 Regulatory Analysis
6.3.1 North America
6.3.1.1 US
6.3.1.2 Canada
6.3.2 Europe
6.3.3 APAC
6.3.3.1 Australia
6.3.3.2 Japan
6.3.3.3 China
6.3.3.4 India
6.3.4 Brazil
6.4 Product Pipeline Analysis
7 Companion Diagnostics Market, By Product & Service
7.1 Introduction
7.2 Assays, Kits, & Reagents
7.2.1 With the Growing Need for Personalized Medicine, the Volume of Companion Diagnostic Tests Performed in Laboratories is Increasing, Which Supports the Adoption of Assays & Kits
7.3 Software & Services
7.3.1 the Need for Effective Data Management Software Within Laboratories is Increasing, Contributing to the Growth of the Companion Diagnostic Software & Services Market
8 Companion Diagnostics Market, By Technology
8.1 Introduction
8.2 Polymerase Chain Reaction (PCR)
8.2.1 Growing Applications of PCR Technologies in the Field of Personalized Medicine and Companion Diagnostics Drive the Growth of This Segment
8.3 Next-Generation Sequencing (NGS)
8.3.1 the NGS Segment is Expected to Grow at the Highest CAGR During the Forecast Period
8.4 in Situ Hybridization (ISH)
8.4.1 Increasing Adoption of ISH is Mainly Due to Advancements in Hybridization and Its Demand in Small-Tumor Diagnostics
8.5 Immunohistochemistry (IHC)
8.5.1 Increasing Demand for User-Friendly and Cost-Effective Technologies in Companion Diagnostics to Drive the Growth of This Segment
8.6 Other Technologies
9 Companion Diagnostics Market, By Indication
9.1 Introduction
9.2 Cancer
9.2.1 Breast Cancer
9.2.1.1 Breast Cancer is the Most Common Cancer Among Women - A Key Factor Contributing to the Large Share of This Market Segment
9.2.2 Lung Cancer
9.2.2.1 Growing Demand for Therapeutic Drugs and Their High Efficacy in the Treatment of Lung Cancer Increase the Adoption of Companion Diagnostics in This Segment
9.2.3 Colorectal Cancer
9.2.3.1 Growing Need for Molecular Profiling of Primary Tumors in Colorectal Cancer to Drive Growth in This Market Segment
9.2.4 Melanoma
9.2.5 Gastric Cancer
9.2.5.1 Increasing Focus of Market Players on the Development of Tests and Kits for Gastric Cancer Indications to Drive Market Growth
9.3 Neurological Diseases
9.3.1 Growing Number of Diagnostic Technologies for the Treatment of Neurological Diseases to Boost the Adoption of Companion Diagnostics in This Segment
9.4 Infectious Diseases
9.4.1 Growing Focus of Companion Diagnostic Players on Orphan Indications to Propel the Growth of This Segment During the Forecast Period
9.5 Cardiovascular Diseases
9.5.1 Growing Demand for Targeted Therapies Due to High Incidence and Mortality Rate of Cardiovascular Diseases to Drive Growth in This Segment
9.6 Other Indications
10 Companion Diagnostics Market, By End User
10.1 Introduction
10.2 Pharmaceutical & Biopharmaceutical Companies
10.2.1 Wide Usage of Companion Diagnostics in Pharmaceutical & Biopharmaceutical Companies Owing to Their Growing Prominence in Drug Development to Drive Market Growth
10.3 Reference Laboratories
10.3.1 Growing Incidence of Diseases Such as Cancer and the Rising Demand for Targeted Therapies to Drive the Growth of This End-User Segment
10.4 Contract Research Organizations
10.4.1 CROs Offer a Complete Range of Companion Diagnostic Services Ranging From Companion Diagnostic Development to Targeted Therapy-Related Clinical Trials
10.5 Other End Users
11 Companion Diagnostics Market, By Region
11.1 Introduction
11.2 North America
11.2.1 US
11.2.1.1 US is the Largest Market for Companion Diagnostics in North America
11.2.2 Canada
11.2.2.1 Government Initiatives to Promote Companion Diagnostics in Various Indications are Expected to Drive Market Growth in Canada
11.3 Europe
11.3.1 Germany
11.3.1.1 Germany is a Major Market for Pharmaceutical and Biotechnology Products in Europe
11.3.2 UK
11.3.2.1 Growth in the Country's Life Science Industry and Increasing Research are Key Factors Driving Market Growth in the UK
11.3.3 Switzerland
11.3.3.1 Switzerland Boasts a Strong Research-Oriented Pharma Industry
11.3.4 France
11.3.4.1 Increasing Government Funding for Genomics and Personalized Therapeutics R&D is Driving Market Growth
11.3.5 Italy
11.3.5.1 Growing Disease Prevalence has Contributed to the Demand for Better, More Powerful Therapeutics in Italy
11.3.6 Spain
11.3.6.1 Medical Institutes in Spain are Increasingly Focusing on Cancer Biomarker Research
11.3.7 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.1.1 Japan Holds the Largest Share of the Market in APAC
11.4.2 China
11.4.2.1 China is One of the Most Prominent Research Markets, Worldwide
11.4.3 India
11.4.3.1 Indian Government has Focused on Tackling the Problem of a Growing Cancer Incidence
11.4.4 Australia
11.4.4.1 Rising Burden of Geriatric Population has Resulted in Initiatives to Enhance Healthcare Access and Infrastructure
11.4.5 Rest of Asia Pacific
11.5 Latin America
11.5.1 Brazil
11.5.1.1 Brazil Dominates the Latin American Companion Diagnostics Market
11.5.2 Mexico
11.5.2.1 Mexico is Emerging as a Prominent Medical Tourism Hub
11.5.3 Rest of Latin America
11.6 Middle East and Africa
11.6.1 Rising Cancer Incidence Rate has Attracted Stakeholder Attention to Regional Markets in MEA
12 Competitive Landscape
12.1 Overview
12.2 Market Share Analysis
12.3 Competitive Leadership Mapping, 2018
12.4 Vendor Inclusion Criteria
12.5 Vendor Dive
12.5.1 Visionary Leaders
12.5.2 Innovators
12.5.3 Emerging Companies
12.5.4 Dynamic Differentiators
12.6 Competitive Situations and Trends
12.6.1 Partnerships, Collaboration, and Agreements
12.6.2 Acquisitions
13 Company Profiles
13.1 F. Hoffmann-La Roche AG
13.1.1 Business Overview
13.1.2 Products Offered
13.1.3 Recent Developments
13.2 Agilent Technologies Inc.
13.3 QIAGEN N.V.
13.4 Abbott Laboratories Inc.
13.5 Almac Group
13.6 Danaher Corporation
13.7 Illumina Inc.
13.8 bioMerieux S.A.
13.9 Myriad Genetics Inc.
13.10 Sysmex Corporation
13.11 Thermo Fisher Scientific Inc.
13.12 Abnova Corporation
13.13 Guardant Health Inc.
For more information about this report visit https://www.researchandmarkets.com/r/xgrqf1
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
View original content:http://www.prnewswire.com/news-releases/companion-diagnostics-world-market-outlook-2019-2024---increasing-demand-for-next-generation-sequencing-prompts-opportunity-300924337.html
SOURCE Research and Markets
