Global Companion Diagnostics Market (2020 to 2030) - Focus on Technology, Application Area, Country Data and Competitive Landscape - ResearchAndMarkets.com

The "Global Companion Diagnostics Market: Focus on Technology, Application Area, Country Data (12 Countries), and Competitive Landscape - Analysis and Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.

According to this report the global companion diagnostics market was valued at $1,764.7 million in 2019 and is anticipated to grow over $7,536.7 million by 2030.

The global companion diagnostics market growth has been primarily attributed to the major drivers in this market such as the growing incidence of cancer, growing demand for precision medicine, and co-development of drugs and diagnostics. However, there are significant challenges that are restraining the market growth. These challenges include uncertain reimbursement scenario, weak synchronization between therapeutics and diagnostics in marketing and distribution channels.

Key Questions Answered in this Report:

• What are the long-term and short-term impacts of companion diagnostics on the human health continuum?
• What are the major market drivers, challenges, and opportunities in the global companion diagnostics market?
• What are the key development strategies which are implemented by the major players in order to sustain in the competitive market?
• What are the key regulatory implications in developed and developing regions for the global companion diagnostics market?
• How is the patent landscape in the industry shaping up future technological trends?
• How is each segment of the market expected to grow during the forecast period from 2020 to 2030?
• Who are the leading players with significant offerings to the global companion diagnostics market? What is the expected market dominance for each of these leading players?
• Which companies are anticipated to be highly disruptive in the future, and why?
• What are challenges that are yet to be met by the global companion diagnostics market?

The companion diagnostics research provides a holistic view of the market in terms of various factors influencing it, including regulatory reforms, and technological advancements.

The scope of the report primarily evaluates FDA-approved companion diagnostics products that are commercialized in the U.S. as well as other regions. In addition, the study also includes companion diagnostics products that have received approvals for commercialization from the European Medicines Agency (EMA), Ministry of Health, Labour and Welfare (MHLW) and Pharmaceuticals and Medical Devices Agency (PMDA), and National Medical Products Administration (NMPA; formerly known as China Food and Drug Administration or the CFDA).

Research Highlights:

• Lung cancer as an application area is expected to witness a robust CAGR of 13.19% during the forecast period 2020-2030. However, the companion diagnostics market for colorectal cancer as an application area is anticipated to witness the growth of 11.15% during the forecast period 2020-2030.
• F. Hoffmann-La Roche Ltd is currently the largest shareholder in the global companion diagnostics market. Its market dominance is attributed to the company's presence within the market through its manufacturing, led by dedicated products.

Market Dynamics

Drivers

• Growing Incidence of Cancer
  
  
• Growing Demand for Precision Medicine
  
  
• Co-Development of Drugs and Diagnostics
  
  

Restraints

• Uncertain Reimbursement Scenario
  
  
• Companion Diagnostics Leakage in Oncology
  
  
• Weak Synchronization between Therapeutics and Diagnostics in Marketing and Distribution Channels
  
  

Opportunities

• New Indication Areas
  
  
• Next-Generation Sequencing Accelerating Targeted Gene Therapy
  
  
• Data Science for Companion Diagnostics Applications
  
  

Companies Profiled

• Abbott Laboratories
• Agilent Technologies, Inc.
• ARUP Laboratories
• bioMrieux S.A.
• Danaher Corporation
• DiaCarta, Inc.
• F. Hoffmann-La Roche Ltd
• ICON plc (MolecularMD Corporation)
• Illumina, Inc.
• Invivoscribe Technologies, Inc.
• Myriad Genetics, Inc.
• Novogene Corporation
• QIAGEN N.V.
• Thermo Fisher Scientific Inc.

For more information about this report visit https://www.researchandmarkets.com/r/92dgjl

View source version on businesswire.com: https://www.businesswire.com/news/home/20200514005581/en/