Introduction:

companion diagnostics market is projected to grow from US$ 3.6 Billion in 2020 to US$ 9.8 billion by 2029 and is projected to register a CAGR of 11.9% over the forecast period.

A companion diagnostic is a medical device that is used as an in-vitro device to offer information on the drug's safety and efficacy. This is a type of test that can help a healthcare expert determine whether or not a medicinal product is effective. It also aids in the examination of major side effects and hazards. A companion diagnostic is an in vitro medical device that offers information necessary for the safe and effective use of a medication or biological product. This diagnostic test aids a physician in determining whether a medicinal product is beneficial to patients and can balance any potential serious side effects or hazards. The companion diagnostics market is expected to grow significantly over the forecast period, owing to increased R&D of targeted therapies, increased demand for personalised medicine with increased awareness in emerging economies, discovery of new biomarkers for various conditions, and a higher number of unmet needs for cancer treatment.

One of the primary factors driving the growth of the companion diagnostics market is the increase in the number of application areas of companion diagnostics around the world. The increased use of these tests by pharmaceutical companies due to their ability to shorten clinical trial timeframes and the growing demand for tailored medicine are driving market growth. The rise in the occurrence of cancer, as well as the rise in the popularity of companion diagnostics due to the economic benefits offered by oncology Companion Diagnostics (CDx) assays, have influenced the industry. In addition, the companion diagnostics market benefits from an increase in population, the growing relevance of tailored medicine, and an increase in healthcare spending. In addition, the surge in demand for next-generation sequencing and the number of clinical trials increases the profit potential. With developments in genetic sequencing and genomics, it is now widely assumed that medications can produce varied results in different people. With a better understanding of an individual's genetic features or biomarkers, the practise of providing "the right drug, at the right time, at the right amount, for the right person" can become more common. Pharmaceutical and biopharmaceutical businesses are always seeking to incorporate patient-selection diagnostic frameworks in the early stages of drug development in order to give tailored medicines to the appropriate patients. This boosts the market for companion diagnostics even further.

Rising number of approvals by health authorities

Rising number of approvals by health authorities for companion diagnostic devices for the treatment of different diseases is a key factor to driving growth of companion diagnostics market. In 2017, for instance, US FDA approved a companion diagnostic genetic test to select patients with metastatic colorectal cancer for treatment with the drug Vectibix. In addition, increasing number of cases of cancer over the globe is other factor expected to fuel growth of the target market over the forecast period. Moreover, continuous innovations in companion diagnostics by manufacturers operating in this market are expected to boost the demand for companion diagnostics and in turn fuel growth of the market in near future. However, high costs associated with the development of companion diagnostics devices is major factor expected to hamper growth of the companion diagnostics market over the forecast period. Increasing demand for next-generation sequencing (NGS) and clinical trials to boost the adoption of companion diagnostics are some factors expected to create lucrative opportunity for the key players operating in the companion diagnostics market over the forecast period.

The companion diagnostics market is segmented based on technology, therapeutic area, and region.

On the basis of technology, the companion diagnostics market is segmented into polymerase chain reaction (PCR), immune histo chemistry (IHC), in situ hybridization (ISH), and next-generation Sequencing. On the basis of therapeutic area, the  market is segmented into oncology, cardiovascular, central nervous system, auto immune and inflammation, and virology. Oncology therapeutic area sub-segmented into breast cancer, lung cancer, colorectal cancer, and gastric cancer.

Regional Insights:

For detailed understanding of market dynamics, the companion diagnostics market is analyzed across key regions viz North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Each of these regions is analyzed on the basis of market findings across major countries in these regions for a macro-level understanding of the market. The market in North America is expected to account for major revenue share in the companion diagnostics market, in 2019, followed by markets in other region. This is attributed to presence of well established companion diagnostics brands in the countries in the region. Presences of well-developed healthcare infrastructure in this region are some major factors expected to support growth of the North America market over the forecast period. Europe companion diagnostics market accounted for second-highest market share in the market followed by Asia Pacific, in 2018.

Attribute	Details
Base year for estimation	2020
Forecast period	2020 – 2029
Market representation	Revenue in USD Million & CAGR from 2020 – 2029
Market Segmentation	By Technology- Polymerase Chain Reaction (PCR), Immuno-Histo Chemistry (IHC), In Situ Hybridization (ISH), and Next-Generation Sequencing By Therapeutic Area– Oncology (Breast Cancer, Lung Cancer, Colorectal Cancer, and Gastric Cancer), Cardiovascular, Central Nervous System, Auto Immune and Inflammation, and Virology
Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at , regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the Companion Diagnostics Market report based on Technology, Therapeutic Area and Region.

Companion Diagnostics Market, By Region:

 

• North America
  • U.S.
    • Canada
    • Europe
      • • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa

Some of the prominent players operating in the companion diagnostics market include Roche Diagnostics GmbH, Agilent Technologies, Inc., QIAGEN N.V., Abbott Laboratories Inc., Ventana Medical Systems, Inc., bioMerieux Inc., Myriad Genetics, Inc., Leica Microsystems GmbH, Resonance Health Ltd., and Thermo Fisher Scientific Inc. Technological advancements in the product as well as in manufacturing process, product launches, and strategic partnerships are some trends witnessed in the companion diagnostics market. In May 2016, for instance, QIAGEN N.V. collaborated with Array BioPharma to develop and commercialize a companion diagnostic test. 

• Roche Diagnostics GmbH
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• Agilent Technologies, Inc.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• QIAGEN N.V.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Abbott Laboratories Inc.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Ventana Medical Systems, Inc.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Myriad Genetics, Inc.
  •  Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

1. Research Objective and Assumption
   • Research Objectives
   • Assumptions
   • Abbreviations
2. Market Preview
   • Report Description
     • Market Definition and Scope
   • Executive Summary
     • Market Snippet, By Technology
     • Market Snippet, By Therapeutic Area
     • Market Snippet, By Region
   • Opportunity Map Analysis
3. Market Dynamics, Regulations, and Trends Analysis
   • Market Dynamics
     • Drivers
     • Restraints
     • Market Opportunities
   • Market Trends
   • Product Launch
   • Merger and Acquisitions
   • Impact Analysis
   • PEST Analysis
   • Porter’s Analysis
4. Market Segmentation, By Technology, 2019 – 2029, (US$ Mn)
   • Overview
     • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
     • Y-o-Y Growth Analysis (%), 2019 – 2029
     • Segment Trends
   • Polymerase Chain Reaction (PCR)
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
   • Immuno Histo Chemistry (IHC)
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
   • In Situ Hybridization (ISH)
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
   • Next-Generation Sequencing
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
5. Market Segmentation, Therapeutic Area, 2019 – 2029, (US$ Mn)
   • Overview
     • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
     • Y-o-Y Growth Analysis (%), 2019 – 2029
     • Segment Trends
   • Oncology (Breast Cancer, Lung Cancer, Colorectal Cancer, and Gastric Cancer)
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
   • Cardiovascular
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
   • Central Nervous System
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
   • Auto Immune and Inflammation
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
   • Virology
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
6. Global Market, By Region, 2019 – 2029, (US$ Mn)
   • Overview
     • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029

1. Y-o-Y Growth Analysis (%), 2019 – 2029
   • Regional Trends
   • North America
     • Market Size and Forecast (US$ Mn), By Technology, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Therapeutic Area, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
       • U.S.
       • Canada
   • Europe
     • Market Size and Forecast (US$ Mn), By Technology, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Therapeutic Area, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
       • Germany
       • UK
       • France
       • Russia
       • Italy
       • Rest of Europe
   • Asia Pacific
     • Market Size and Forecast (US$ Mn), By Technology, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Therapeutic Area, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
       • China
       • India
       • Australia
       • Japan
       • South Korea
       • Rest of Asia Pacific
   • Latin America
     • Market Size and Forecast (US$ Mn), By Technology, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Therapeutic Area, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
       • Brazil
       • Mexico
       • Rest of Latin America
   • Middle East
     • Market Size and Forecast (US$ Mn), By Technology, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Therapeutic Area, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
       • GCC
       • Israel
       • Rest of Middle East
   • Africa
     • Market Size and Forecast (US$ Mn), By Technology, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Therapeutic Area, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
       • South Africa
       • Central Africa
       • North Africa
2. Competitive Landscape
   • Heat Map Analysis
   • Company Profiles
     • Roche Diagnostics GmbH.
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
     • Agilent Technologies, Inc.
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
     • QIAGEN N.V.
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
     • Abbott Laboratories Inc.
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
     • Ventana Medical Systems, Inc.
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
     • bioMerieux, Inc.
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
     • Myriad Genetics, Inc.
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
     • Leica Microsystems GmbH
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
     • Resonance Health Ltd.
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
     • Thermo Fisher Scientific Inc.
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
   • Analyst Views
3. Section
   • Research Methodology
   • About Us
   • Contact