Companion Diagnostics Market is predicted to reach USD 5.71 billion at a CAGR of 11.90% during the forecast period:

Market Research Future (MRFR) has published a cooked research report on the “Global Companion Diagnostics Market” that contains information from 2023 to 2030. The Companion Diagnostics Market is estimated to register a CAGR of 11.90% during the forecast period of 2023 to 2030.

MRFR recognizes the following companies as the key players in the global Companion Diagnostics Market— Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Agilent Technologies Inc., QIAGEN, Abbott, bioMérieux SA, Leica Biosystems Nussloch GmbH, Illumina Inc., Myriad Genetics Inc., and ArcherDX Inc.

Companion Diagnostic Market Highlights

The global Companion Diagnostics Market is accounted to register a CAGR of 11.90% during the forecast period and is estimated to reach USD 5.71 Billion by 2030.

The Companion Diagnostics (CDx) market refers to a segment within the medical diagnostics industry that involves the development and commercialization of diagnostic tests or assays that are specifically designed to identify biomarkers or genetic mutations associated with a particular disease or condition. These tests are developed in conjunction with targeted therapies, such as drugs or biologics, to help healthcare professionals determine which patients are likely to respond to a specific treatment.

Segment Analysis

The global Companion Diagnostics Market has been segmented based on technology and end user.

On the basis of technology, the market is segmented into Polymerase Chain Reaction (PCR), Next-Generation Sequencing (NGS), In Situ Hybridization (ISH) and Immunohistochemistry (IHC). PCR is a widely used molecular biology technique that amplifies a specific segment of DNA. It allows researchers to make millions of copies of a particular DNA sequence, making it easier to detect and analyze genetic material.

Based on end user, the market has been segmented into Pharmaceutical & Biopharmaceutical Companies, Contract Research Organizations and Laboratories. Pharmaceutical and biopharmaceutical companies develop therapeutic drugs and treatments for various diseases, and companion diagnostics are instrumental in identifying patients who are most likely to benefit from these treatments.

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Companion Diagnostics Market Research Report

Regional Analysis

The global Companion Diagnostics Market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Companion Diagnostics Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Companion Diagnostics Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Companion Diagnostics Market comprises of Middle East, Africa, and Latin America.

North America, particularly the United States, has been a significant market for Companion Diagnostics. The region's well-established healthcare infrastructure, favorable reimbursement policies, and a strong focus on precision medicine have contributed to the growth of the CDx market.

European countries have also been adopting Companion Diagnostics, although the market adoption has been more varied compared to North America. Countries like Germany, France, and the United Kingdom have shown significant interest in personalized medicine and have contributed to the growth of the CDx market in the region.

The Asia-Pacific region has shown substantial potential for growth in the Companion Diagnostics market. Countries like China, Japan, South Korea, and India are increasingly embracing personalized medicine and targeted therapies, which drives the demand for companion diagnostics.

Furthermore, the rest of the world's Companion Diagnostics Market is divided into the Middle East, Africa, and Latin America. However, as personalized medicine gains more prominence and healthcare infrastructure improves in these regions, the demand for companion diagnostics is likely to increase.

Key Findings of the Study

·        The global Companion Diagnostics Market is expected to reach USD 5.71 Billion by 2030, at a CAGR of 11.90% during the forecast period.

·        North America, particularly the United States, has been a significant market for Companion Diagnostics. The region's well-established healthcare infrastructure, favorable reimbursement policies, and a strong focus on precision medicine have contributed to the growth of the CDx market.

·        Based on end user, the market has been segmented into Pharmaceutical & Biopharmaceutical Companies, Contract Research Organizations holding the largest market in 2022.

·        Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Agilent Technologies Inc., QIAGEN, Abbott, bioMérieux SA, Leica Biosystems Nussloch GmbH, Illumina Inc., Myriad Genetics Inc. and ArcherDX Inc.