Companion Diagnostics Market drivers of growth analyzed in a new research report
Date: 2020-03-03   Author: Rahul Varpe  Category: #news

Companion Diagnostics Market drivers of growth analyzed in a new research report

Companion Diagnostics Market will exceed USD 6.5 billion by 2025; as per a new research report. Increasing incidences of cancer across the globe will prove beneficial for companion diagnostics market growth over the forthcoming years. Lung, breast, colorectal and skin are some of the most common forms of cancer. According to WHO, in 2018 nearly 9.6 million people died of cancer. Mortality and burden associated with cancer can be drastically reduced if diagnosed at early stages and patient specific treatment is provided. As a result, demand for targeted therapies is prevailing the field of oncology thereby augmenting the companion diagnostics market growth.

Increasing cases of adverse drug reactions (ADRs) will escalate companion diagnostics industry growth. Adverse drug reaction occurred due to incompatibility of certain patients to standard therapy and can have life threatening consequences. As companion diagnostics enables prevention of ADRs and associated complications by development of personalized therapy, its demand will increase with growing incidences of adverse drug events. However, high cost of companion diagnostics may hamper business growth to certain extent.

Request sample copy of this report @ https://www.decresearch.com/request-sample/detail/3972

Consumables segment will witness around 19% CAGR over the forecast period owing to availability of advanced consumable kits, reagent and associated advantages. For instance, Roche diagnostics developed VENTANA ALK (D5F3) CDx Assay portfolio that provides reliable results enabling timely diagnostic decisions and therapeutic choices. Moreover, consumables are bought frequently and needed in large quantity that should augment the segment growth in the coming years.

Breast cancer segment accounted for more than 30% revenue share in 2018. As reported by WHO, in 2018, around 627,000 women died of breast cancer and the number is predicted to increase in near future. Changing lifestyle, favorable demographic trends are predicted to contribute to growing incidences. In such scenario companion diagnostic tests serve the best purpose by allowing efficient treatment of breast cancer by analyzing individual needs and response to different drugs.

Polymerase chain reaction (PCR) is projected to experience more than 18% growth in foreseeable future. Polymerase chain reaction is well suited and most widely used DNA replication technique. In companion diagnostic test, patient's genomic makeup is analyzed to predict drug response. PCR provides promising result by rapid amplification of DNA fragment. Aforementioned factor application of PCR along with ease of use associated with this technique will drive the segment growth.

Make Inquiry about this report @ https://www.decresearch.com/inquiry-before-buying/3972

Hospital segment was valued around USD 800 million in 2018. Availability of advanced infrastructure and skilled healthcare professionals for drug diagnostic co-development will augment the segment growth. Rising government support for curbing the cost associated with chronic diseases such as cancer will further impact the hospital end user segment growth.

North America companion diagnostic market will experience more than 18% CAGR over the analysis time frame owing to increasing research and development practices and growing prevalence of chronic diseases. Furthermore, increased levels of patient awareness regarding benefits of targeted therapies and availability of advanced healthcare facilities will enhance demand of companion diagnostic tests augmenting regional growth.

Some of the notable industry players operational in the companion diagnostic market include: Abbott, Agilent Technologies, bioMerieux, Foundation Medicine, Illumina, MolecularMD (ICON), Myriad Genetic Laboratories, Johnson & Johnson, Qiagen, Roche, Thermo Fisher Scientific and Ventana Medical Systems. These industry players adopt strategic initiatives such as acquisitions and new product launches to sustaining industry competition. For instance, in July 2019, Foundation Medicine received FDA approval for FoundationOneCDx that will be used for LYNPARZA, a first line maintenance treatment in ovarian cancer.

Browse more reports: -

Vitreoretinal Surgery Devices Market: - https://www.americanewshour.com/2020/03/03/vitreoretinal-surgery-devices-market-share-research-by-applications-and-regions-for-2019-2025/251630/

Ablation Devices Market: - https://www.americanewshour.com/2020/03/03/ablation-devices-market-trends-research-and-projections-for-2019-2025/251641/



About Author


Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for algosonline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

Read More

More from Rahul


Post Recommendents

Hotstar announces availability of Disney+ content for Indian users
Author: Saipriya Iyer

The content from Disney+, a subscription video on-demand streaming service, is officially available on Hotstar, an Indian over-the-top streaming service, after a slight delay.

Var...


Oxygen Cylinders and Concentrators Market Research Report By Current & Future Trends, Statistics To 2025
Author: Rahul Varpe

The Oxygen Cylinders and Concentrators Market is projected to expand from its present industry value of over $2.7 billion to more than $5 billion over the analysis timeframe.


According to the study with title ‘Global Oxygen...


Antidiabetics Market is set to record 10.6% CAGR during forecast time
Author: Rahul Varpe

The size of the Antidiabetics Market was accrued at USD 54.6 billion in 2017 and is presumed to accumulate over USD 110 billion by the year 2024. According to research, the Antidiabetics Market is expected to grow with a CAGR of 10.6% during the p...