APAC to Dominate Companion Diagnostic Market During Forecast Period
Advantages offered by companion
diagnostics and growing significance of companion diagnostics in drug
development is expected to drive the growth of global companion diagnostic
market
According
to TechSci Research report, “Global Companion
Diagnostic Market, By Technology (Nanostring Technology, Next-Generation
sequencing, In-Situ Hybridization, Immunohistochemistry and Others), By
Products (Devices, Kits and Assay), By Indication (Oncology, Respiratory,
Orthopedics and Others), By End-User (Pharmaceutical & Biotechnology
Companies, Research Laboratories, Contract research organization and others),
By Application (Drug Discovery, In-Vitro diagnostics and Others), By Region,
Competition, Forecast & Opportunities, 2025”, global
companion diagnostic market is expected to grow with an impressive CAGR over
the forecast period. Rising
application areas of companion diagnostics is one of the major factors contributing
to the growth of global companion diagnostic market over the
course of next five years. Moreover, growing awareness about the advantages of
companion diagnostics coupled with rising importance of personalized medicines
worldwide is further expected to propel the demand for global companion
diagnostic until 2025. Moreover, rising requirement for next-generation
sequencing is anticipated to positively influence the growth of companion diagnostic
market across the globe. Additionally, mounting importance of companion
diagnostics in drug development coupled with discovery of new biomarkers for
various medical conditions are some other factors fueling the growth of global companion
diagnostic market during the next five years. Furthermore, high cost of
companion diagnostic tests might hamper the growth of global companion
diagnostic market in the years to come.
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Global
companion diagnostic market is segmented based on technology, products,
indication, end-user, application,
company and region. Considering the technology, the market is
fragmented into nanostring technology, next-generation sequencing, in-situ
hybridization, immunohistochemistry and others. The in-situ hybridization technology
is anticipated to register rapid growth during the forecast period because when
compared to immunochemistry and other techniques, this technology predominantly
Fluorescence in-situ hybridization (FISH), is reliable, sensitive, reproducible,
accurate, and less affected by tissue fixation and other analytical variables. Moreover,
ongoing technological advancements, such as development of bright-field in-situ
hybridization techniques, the automated silver-enhanced in-situ hybridization
(SISH), and chromogenic in-situ hybridization (CISH), for determining the gene
status is further projected to boost the growth of segment over the course of
next five years.
NG
Biotech, Agilent Technologies, Illumnia, Qiagen, Thermo Fisher Scientific,
Roche, Molecular MD, Myriad Genetics, Foundation Medicine, Bayer, Genentech,
Abbott, Novartis, Perkin Elmer, Luminex Corporation, Parexel, Quest Diagnostics,
Genesys Diagnostics, Danaher, Siemens Healthcare, Biomerieux SA. are among
others are the leading players operating in global companion diagnostic market.
The market players are adopting several growth
strategies to enhance their share in companion diagnostic market.
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“Asia-Pacific is
forecast to dominate the global companion diagnostic market until 2025 on
account of high incidences of cancer in the region. Moreover, ever-increasing
proteomics & genomics research in developing countries such China, India, and
Japan are anticipated to contribute to the growth of the companion diagnostic market.
Furthermore, growing funding for research along with rising investments by
pharmaceutical and biotechnology companies is further expected to boost the regional
growth of companion diagnostic market over the course of next five years.”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Global Companion Diagnostic Market By Global
Companion Diagnostic Market, By Technology (Nanostring Technology,
Next-Generation sequencing, In-Situ Hybridization, Immunohistochemistry and
Others), By Products (Devices, Kits and Assay), By Indication (Oncology,
Respiratory, Orthopedics and Others), By End-User (Pharmaceutical &
Biotechnology Companies, Research Laboratories, Contract research organization
and others), By Application (Drug Discovery, In-Vitro diagnostics and Others), By
Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global companion
diagnostic market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global companion diagnostic market.
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