Companion Diagnostics Global Market Report 2023: Growing Significance of Personalized Medicine Remains a Major Market Driver


Dublin, March 10, 2023 (GLOBE NEWSWIRE) -- The "Companion Diagnostics: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Companion Diagnostics Market to Reach $13.8 Billion by 2030

In the changed post COVID-19 business landscape, the global market for Companion Diagnostics estimated at US$7.9 Billion in the year 2022, is projected to reach a revised size of US$13.8 Billion by 2030, growing at a CAGR of 7.2% over the analysis period 2022-2030. Assay kits & Reagents, one of the segments analyzed in the report, is projected to record 6.3% CAGR and reach US$8.7 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Software & Services segment is readjusted to a revised 9.1% CAGR for the next 8-year period.

The U.S. Market is Estimated at $2.3 Billion, While China is Forecast to Grow at 6.7% CAGR

The Companion Diagnostics market in the U.S. is estimated at US$2.3 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.4 Billion by the year 2030 trailing a CAGR of 6.7% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.8% and 4.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 2.3% CAGR.

Select Competitors (Total 47 Featured) -

  • Abbott Molecular
  • Agilent Technologies, Inc.
  • bioMerieux SA
  • Cepheid
  • Danaher Corporation
  • F. Hoffmann-La Roche Ltd.
  • Foundation Medicine Inc.
  • Laboratory Corporation of America Holdings
  • Leica Biosystems Nussloch GmbH
  • Merck & Co. Inc.
  • Myriad Genetics Inc.
  • NeoGenomics Laboratories, Inc.
  • QIAGEN N.V.
  • Quest Diagnostics Inc.
  • Thermo Fischer Scientific Inc.

What`s New for 2023?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year

Key Attributes:

Report AttributeDetails
No. of Pages196
Forecast Period2020 - 2027
Estimated Market Value (USD) in 2020$8 Billion
Forecasted Market Value (USD) by 2027$19.5 Billion
Compound Annual Growth Rate13.6%
Regions CoveredGlobal


Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Companion Diagnostics: An Introductory Prelude
  • Quashing the One-Size-Fits-All Approach, CDx Wield Great Promise for Streamlined Drug Discovery & Development
  • Broader Scope and Applications Rev Up Growth Opportunities
  • Healthy Growth Projected over the Next Few Years
  • Developed Regions: Key Revenue Contributors
  • Market Witnesses Fast Paced Growth in Developing Regions
  • Northbound Trajectory in R&D Spending Creates Conducive Environment
  • Prevailing Economic Scenario Favors Funding Pattern
  • Companion Diagnostics - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Growing Significance of Personalized Medicine Remains a Major Market Driver
  • Emphasis on Improving Targeted Therapies with CDx Tests Steers Momentum
  • Herceptin Lays the Road for Companion Diagnostics
  • Oncology - Dominant Therapy Area for CDx
  • Rising Incidence of Cancer Propels the Need for CDx Tests
  • Technology Advancements to Widen CDx Use Case
  • PCR: Dominant Technology Type for CDx Testing
  • Next-Generation Sequencing (NGS) Gains Widespread Traction in CDx Testing
  • Significant Role of Biomarkers in Companion Diagnostics
  • Critical Healthcare Needs of Aging Population Underpin CDx Sales
  • Regulatory Scenario Favors CDx Market
  • Resolving Prevailing Challenges: Critical for Future Growth of CDx Market

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

A selection of companies mentioned in this report includes

  • Abbott Molecular
  • Agilent Technologies, Inc.
  • bioMerieux SA
  • Cepheid
  • Danaher Corporation
  • F. Hoffmann-La Roche Ltd.
  • Foundation Medicine Inc.
  • Laboratory Corporation of America Holdings
  • Leica Biosystems Nussloch GmbH
  • Merck & Co. Inc.
  • Myriad Genetics Inc.
  • NeoGenomics Laboratories, Inc.
  • QIAGEN N.V.
  • Quest Diagnostics Inc.
  • Thermo Fischer Scientific Inc.

For more information about this report visit https://www.researchandmarkets.com/r/2pu67i

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Attachment

 
Global Market for Companion Diagnostics

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