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Companion Diagnostics for Oncology Market Research Report Information By Products & Services (Assays, Kits & Reagents and Software & Services), Technology (Polymerase Chain Reaction (PCR) and Next-Generation Sequencing (NGS), Indication (Lung Cancer, Breast Cancer, Colorectal Cancer, Gastric Cancer, Melanoma), End User (Pharmaceutical & Biopharmaceutical Companies, Contract Research Organizations, Laboratories) - Forecast till 2032


ID: MRFR/HC/8942-CR | 139 Pages | Author: Kinjoll Dey| February 2021

Global Companion Diagnostics for Oncology Market Overview


Companion Diagnostics for Oncology Market was valued at USD 2.5 Billion in 2032 and is expected to register a CAGR of 21.1% during the forecast period of 2023 to 2032.


Companion Diagnostics for Oncology Market


Companion diagnostic (CDx) is a diagnostic testing kit majorly used by pharmaceutical companies for the development of personalized medicine. CDx tests provide information about the effective use of a corresponding therapeutic product by analyzing the genetic material. With the rise in cancer prevalence, coupled with increasing strategic initiatives, there has been a huge demand for companion diagnostics in the oncology area. The growing prevalence of cancer across the globe is increasing the preference for targeted therapy, which is affecting the demand for CDx tests. According to Cancer Research UK, there were 17 million new cases of cancer across the world in 2018, in which lung and breast cancer accounted for the largest share, followed by colorectal and prostate cancer.


Market Dynamics


The key factors driving the companion Diagnostics for Oncology market growth are increasing R&D and drug-diagnostic co-development, growing preference for personalized medicine, increasing global incidence of cancer, and increasing product approvals by major players. However, the lack of reimbursement in developing regions may hamper the companion Diagnostics for Oncology market growth. The entry of market players in evolving economies creates an opportunity to drive the companion diagnostics for oncology market.


Major market players are focusing on various growth strategies such as product launches, product advancements, and business expansions to cater to the growing need for personalized medicine. These product launches and business expansion drive the growth of the companion diagnostics for oncology market. For instance, in March 2020, Thermo Fisher signed a strategic agreement with Janssen Services to co-develop a companion diagnostic product related to oncology, which will support clinical trial enrollment globally. In March 2019, Roche launched the Ventana PD-L1 (SP142) Assay in Europe as the first companion diagnostic to identify triple-negative breast cancer patients eligible for treatment with Tecentriq. Similarly, in March 2019, Roche received the US FDA approval for its Ventana PD-L1 (SP142) assay approved as the first companion diagnostic to identify triple-negative breast cancer patients eligible for the treatment with Tecentriq in combination with Abraxane. Furthermore, in April 2018, Illumina entered a collaboration with Bristol Myers Squibb Company to utilize Illumina’s next-generation sequencing technology to develop and globally commercialize companion diagnostics for Bristol-Myers Squibb Company’s oncology immunotherapies, and the growing prevalence of cancer across the globe is increasing the preference for targeted therapy which is affecting the demand for CDx tests.


Companion Diagnostics for Oncology Market Share, By Products & Services, 2019 (%)Companion Diagnostics for Oncology Market


Source: MRFR Analysis


Companion Diagnostics for Oncology Market Segment Insights


Global Companion Diagnostics for Oncology Market has been divided based on Products & Services, Technology, Indication, and End User.


Companion Diagnostics for Oncology Product & Service Insights


Global Companion Diagnostics for Oncology Market, on the basis of product & service, has been segmented into assays, kits & reagents and software & services. The assays, kits, & reagents segment is expected to be the largest of 62.1% in 2019 and is projected to be the fastest market owing to their continuous requirement by end users.


Companion Diagnostics for Oncology Technology Insights


Based on technology, the global companion diagnostics for oncology market is segmented into polymerase chain reaction (PCR) and next-generation sequencing (NGS). By technology, polymerase chain reaction (PCR) held a larger market share of 53.8% in 2019, whereas the NGS segment accounted for a CAGR of 25.05% during the forecast period of 2020 to 2027.


Companion Diagnostics for Oncology Indication Insights


The global companion diagnostics for oncology market, on the basis of indication, has been segmented into breast cancer, lung cancer, colorectal cancer, gastric cancer, melanoma, and others. The breast cancer segment accounted for the largest market share in 2019, owing to the huge population suffering from cancer across the globe.


Companion Diagnostics for Oncology End-User Insights


The global companion diagnostics for oncology market, on the basis of end user, is segmented into pharmaceutical & biopharmaceutical companies, laboratories, contract research organizations, and others. The pharmaceutical & biopharmaceutical companies segment accounted for the largest share of 38.2% in 2019, owing to the rising adoption of companion diagnostics for oncology techniques among researchers and clinicians.


Companion Diagnostics for Oncology Market Share, By Region, 2019 (%)Companion Diagnostics for Oncology Market


Source: MRFR Analysis


Companion Diagnostics for Oncology Regional Insights


Global Companion Diagnostics for Oncology Market based on region is segmented into four main regions, including the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas accounted for the major share in 2019, whereas Asia-Pacific is projected to be the fastest-growing region during the forecast period.


In the global companion diagnostics for oncology market, the Americas held the largest share of 37.3% in 2019. The market growth in the Americas is due to the high prevalence rate of cancer and other chronic disorders and rising healthcare expenditure. According, to the National Institutes of Health, it was estimated that 1,735,350 new cases of cancer were diagnosed in the US in 2018. Additionally, the American Cancer Society estimated that 1.8 million new cancer cases would be diagnosed in 2020 in the US.


Europe acquired the second-largest market share in 2019. The market is expected to register a sturdy growth rate during the forecast period due to the presence of a large number of companies, growing research and development activities to develop targeted drug therapy for a cancer patient, and rising per capita income increases the preference for personalized medicine. According to the European Journal of Cancer, there were around 3.9 million new cases and 1.9 million deaths from cancer in Europe in 2018. The increasing cancer population supports market growth in this region.


Asia-Pacific is anticipated to be the fastest-growing regional market during the forecast period. The rapid growth of the Asia-Pacific regional market is due to the rising number of cancer patients and the growing presence of market players. According to the Global Cancer Observatory, around 1,157,294 cases of cancer were reported in India in 2018. Additionally, growing research funding, rising investments by pharmaceutical and biotechnology companies and growing awareness about personalized therapeutics in several APAC countries are expected to drive the growth of the Asia-Pacific market.


The Middle East & Africa accounted for the least value of USD 82.64 million in 2019. The companion diagnostics for oncology market in countries such as Kuwait, the UAE, and Saudi Arabia are likely to show steady growth due to increasing cancer cases, rising drug discovery, and increasing preference for personalized medicines. Also, the growing number of hospitals and research laboratories and increasing investment by healthcare companies in this region drives the growth of the market in Middle East & Africa.


Key Players


The Prominent Players in the Global Companion Diagnostics for Oncology Market are



Companion Diagnostics for Oncology Market Segmentation


Companion Diagnostics for Oncology Products & Services Outlook



  • Assays, Kits & Reagents

  • Software & Services


Companion Diagnostics for Oncology Technology Outlook



  • Polymerase Chain Reaction (PCR)

  • Next-Generation Sequencing (NGS)


Companion Diagnostics for Oncology Indication Outlook



  • Lung Cancer

  • Breast Cancer

  • Colorectal Cancer

  • Gastric Cancer

  • Melanoma

  • Others


Companion Diagnostics for Oncology End User Outlook



  • Pharmaceutical & Biopharmaceutical Companies

  • Contract Research Organizations

  • Laboratories 

  • Others


Companion Diagnostics for Oncology Regional Outlook



  • Americas

    • North America

      • US

      • Canada



    • Latin America



  • Europe

    • Western Europe

      • Germany

      • UK

      • France

      • Italy

      • Spain

      • Rest of Western Europe



    • Eastern Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Rest of Asia-Pacific



  • Middle East & Africa

    • Middle East

    • Africa




Intended Audience



  • Medical device companies

  • Contract research organizations

  • Research & development organizations

  • Academic institutes

Report Attribute/Metric Details
  Market Size  2030: USD 2.5 Billion
  CAGR  21.1% (2022-2020)
  Base Year  2021
  Forecast Period   2023-2032
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Products & Services, Technology, Indication, End User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Agilent Technologies Inc., Illumina, Inc., F. Hoffmann-La Roche Ltd, BioMérieux SA, Foundation Medicine, Archer Dx, Qiagen, Thermo Fisher Scientific Inc., Amoy Dx, and Abbott.
  Key Market Opportunities   The entry of market players in evolving economies
  Key Market Drivers ·  Increasing R&D and drug-diagnostic co-development ·  Growing preference for personalized medicine ·  Increasing global incidence of cancer ·  Increasing product approvals


Frequently Asked Questions (FAQ) :

Companion diagnostic (CDx) is a diagnostic testing kit majorly used by pharmaceutical companies for the development of personalized medicine. CDx tests provide information about the effective use of a corresponding therapeutic product by analyzing the genetic material.

Companion Diagnostics for Oncology Market was valued at USD 2.5 Billion in 2032.

Companion Diagnostics for Oncology Market is expected to register a CAGR of 21.1% during the forecast period of 2023 to 2032

The key factors driving the market growth are increasing R&D and drug-diagnostic co-development, growing preference for personalized medicine, increasing global incidence of cancer, and increasing product approvals by major players.

Global Companion Diagnostics for Oncology Market, based on region, is segmented into four main regions, including the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is accounted for a major market share in 2019, whereas Asia-Pacific is projected to be the fastest-growing regional market during the forecast period.

The Prominent Players in the Global Companion Diagnostics for Oncology Market are Agilent Technologies Inc., Illumina, Inc., F. Hoffmann-La Roche Ltd, BioMérieux SA, Foundation Medicine, Archer Dx, Qiagen, Thermo Fisher Scientific Inc., Amoy Dx, and Abbott.

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