Companion Diagnostics Market to Observe Remarkable Push over 2021-2025

Global companion diagnostics market is slated to gain substantial momentum over the coming years owing to the growing prevalence of chronic diseases and adverse drug reactions. Companion diagnostics tests help identify patients that are most inclined to benefit from a therapeutic product. They also help patients susceptible to an increased risk of serious side effects due to treatment with a particular therapeutic product. Moreover, they monitor a patient’s response to a particular treatment, so health professionals can adjust them to ensure high safety and treatment effectiveness, which will impact industry trends over the forecast period.

The increasing prevalence of adverse drug reactions is a significant driving force for global companion diagnostics market share. ADR is a major public health problem, and a vital cause of mortality and morbidity. According to a study, most ADR cases occurred during hospitalization or admission to internal medicine wards, out of which maximum were preventable. The use of companion diagnostics helps medical professionals detect patients at higher risk of side effects, thereby enabling their safety.

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The consumables segment in the companion diagnostics industry is estimated to depict a substantial CAGR of 19 per cent through the analysis period. This is due to the availability and associated advantages of advanced consumable kits and reagents.

A key growth factor for companion diagnostics market is the increasing pervasiveness of chronic ailments like cancer. Data by the International Agency for Research on Cancer suggests that by the year 2040, the number of cancer patients is estimated to increase to 27.5 million and cancer deaths to 16.3 million owing to the growing elderly population paired with increasing risks of a sedentary lifestyle

Diagnostics laboratories are one of the highest-grossing end-use segments for global companion diagnostics industry, which are estimated to continue their growth trend in the coming years as well.

North America companion diagnostics market is estimated to be the highest revenue contributor due to the presence of well-known private and government hospitals across nations in the region. Well-established hospitals are more likely to adopt advanced medical technologies in a bid to enhance patient care and safety. Countries within the region are also experiencing a growth in geriatric population which implies that the prevalence of chronic diseases and patient admissions are set to rise in the coming years, thus augmenting companion diagnostics market share in the region.

Recently, BrightEdge, a new venture fund by the American Cancer Society, offered funds worth $160 million to blood-diagnostics firm Freenome, which is developing a test for early cancer detection. Increasing funding for diagnostics tests will support segmental growth, thereby driving global companion diagnostics market size.

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Partial Chapter of the Table of Content

Chapter 4. Companion Diagnostics Market, By Product

4.1. Key segment trends

4.2. Instruments

4.2.1. Market size, by region, 2014-2025 (USD Million)

4.3. Consumables

4.3.1. Market size, by region, 2014-2025 (USD Million)

4.4. Services

4.4.1. Market size, by region, 2014-2025 (USD Million)

Chapter 5. Companion Diagnostics Market, By Disease Indication

5.1. Key segment trends

5.2. Breast cancer

5.2.1. Market size, by region, 2014-2025 (USD Million)

5.3. Lung cancer

5.3.1. Market size, by region, 2014-2025 (USD Million)

5.4. Colorectal cancer

5.4.1. Market size, by region, 2014-2025 (USD Million)

5.5. Skin cancer

5.5.1. Market size, by region, 2014-2025 (USD Million)

5.6. Others

5.6.1. Market size, by region, 2014-2025 (USD Million)

Chapter 6. Companion Diagnostics Market, By Technology

6.1. Key segment trends

6.2. Immunohistochemistry

6.2.1. Market size, by region, 2014-2025 (USD Million)

6.3. In Situ Hybridization

6.3.1. Market size, by region, 2014-2025 (USD Million)

6.4. Polymerase Chain Reaction

6.4.1. Market size, by region, 2014-2025 (USD Million)

6.5. Genetic Sequencing

6.5.1. Market size, by region, 2014-2025 (USD Million)

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