Companion Diagnostics Market Report Overview

The research draws upon predictions from prominent organizations and market statistics. Within the Companion Diagnostics Market research, there's an intricate examination at global, regional, and country levels, accompanied by a competitive outlook throughout the forecast timeframe and evaluations of individual company worth. The Companion Diagnostics market report comprehensively addresses growth factors, existing market shares, technological advancements, applications, and the extent of regional presence, all projected until 2030.

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Companion Diagnostics Market Value

Global Companion Diagnostics Market size was valued at USD 4.71 Bn in 2022 and Companion Diagnostics market revenue is expected to reach USD 11.02 Bn by 2029, at a CAGR of 12.9 % over the forecast period.

Market Dynamics for Companion Diagnostics

Increasing the number of companion diagnostic testing facilities will accelerate market expansion.

The industry is also being driven by the expansion of companion diagnostic testing facilities. Companion diagnostics is predicted to grow as a result of specialised laboratories' expansion of their capacity and capabilities to fulfil the growing demand. These labs have the tools and knowledge required to carry out intricate molecular analysis, guaranteeing fast and precise findings for medical professionals. Market expansion is fueled by regulatory bodies like the European Medicines Agency (EMA) and the U.S. Food and Drug Administration (FDA) approving new companion diagnostics. Regulatory approval gives companion diagnostics credibility regarding their accuracy and clinical usefulness.

Companion Diagnostics Market Report Extent and Research Approach

The report concerning the Companion Diagnostics market presents both qualitative and quantitative analyses of market development factors, constraints, opportunities, and challenges within the global market landscape. The Companion Diagnostics market research was executed by segmenting the market into primary categories, further divided into various sub-segments. The report provides an analysis of the market on a regional basis, encompassing dynamics and the size of the Companion Diagnostics market.

The research conducted by MMR in the Companion Diagnostics industry integrates primary and secondary research methods, lending authenticity to the report. Employing a bottom-up approach, the estimation of both global and regional Companion Diagnostics market sizes was undertaken. MMR's report emerges from a comprehensive study that utilized a range of methodologies including PESTLE, PORTER, and SWOT analyses. These models were employed to illuminate the vital financial considerations that Companion Diagnostics market players should prioritize when formulating marketing strategies for both consumer and industrial markets.

Companion Diagnostics Regional Market Analysis

Throughout the projected period, North America is expected to possess the highest proportion of the companion diagnostics market.

North America, and the US in particular, dominated the companion diagnostics market in 2022. In particular for many cancer medications, companion diagnostic tests are regarded as an important tool for treatment decisions; this categorization is consistent with the FDA's risk assessment methodology. In the pharmaceutical industry, companion diagnostic tests have become more popular, increasing the chances of clinical success, despite the difficulties caused by the COVID-19 pandemic. Apart from their use in oncology, these tests are in great demand for the diagnosis of COVID-19 cases. The new coronavirus's appearance prompted increased research and development into diagnostic tests. A COVID-19 testing laboratory was constructed in the United States by MiraDx in 2022.

Companion Diagnostics Market Divisibility :

by Technology

PCR
NGS

by End-Use

Hospitals & Clinics
Diagnostic Laboratories
Research Institutions
Pharmaceutical Companies

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Companion Diagnostics Market Key Comapnies

1. Roche Diagnostics
2. Thermo Fisher Scientific
3. Agilent Technologies
4. Abbott Laboratories
5. Qiagen
6. Myriad Genetics, Inc,
7. Illumina
8. Danaher Corporation
9. Biogenex Laboratories
10. Bio-Rad Laboratories
11. Foundation Medicine
12. Genomic Health
13. NanoString Technologies
14. Guardant Health
15. Invivoscribe

Table of content for the Companion Diagnostics Market includes: 

Part 01: Executive Summary

Part 02: Scope of the Companion Diagnostics Market Report

Part 03: Global Companion Diagnostics Market Landscape

Part 04: Global Companion Diagnostics Market Sizing

Part 05: Global Companion Diagnostics Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Key Questions answered in the Companion Diagnostics Market Report are:

• What is Companion Diagnostics?
• What is the expected CAGR of the Companion Diagnostics market during the forecast period?
• Which factor is expected to create growth opportunities for the Companion Diagnostics Market?
• What factors are affecting the Companion Diagnostics market growth?
• Which region held the largest share of the global Companion Diagnostics market?
• What key trends are expected to emerge in the Companion Diagnostics market during the forecast?

Key offerings:

• Market Share, Size, and Forecast by Revenue|2023-2029
• Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
• Market Segmentation- A detailed analysis of each segment and their sub-segments
• Competitive Landscape - Leading key players and other prominent key players.

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