GLOBAL COMPANION DIAGNOSTICS MARKET FORECAST 2018-2026

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GLOBAL COMPANION DIAGNOSTICS MARKET FORECAST 2018-2026

The global companion diagnostics market was valued at $2608 million in 2017 & is estimated to generate net revenue of approximately $11980 million by 2026, growing at a CAGR of 18.45%.  Companion diagnostic assess is an in vitro diagnostic device that is used to recognize whether a patient with certain ailments could be aided by a particular drug through the biomarker assessment. The companion diagnostics market is primarily driven by the following factors:

GLOBAL COMPANION DIAGNOSTICS MARKET FORECAST 2018-2026

Global Companion Diagnostics Marketby Products and Services (Assay Kits and Reagents, Software and Service)  by Indication (Oncology, Neurology, Infectious Diseases, Other Indications)  by End User (Pharmaceutical and Biopharmaceutical Companies, Reference Laboratories, Other End Users) by Technology (in Situ Hybridization, Polymerase Chain Reaction, Immunohistochemistry, Next Generation Sequencing, Other Technologies) by Geography.

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The global companion diagnostics market was valued at $2608 million in 2017 & is estimated to generate net revenue of approximately $11980 million by 2026, growing at a CAGR of 18.45%. Companion diagnostic assess is an in vitro diagnostic device that is used to recognize whether a patient with certain ailments could be aided by a particular drug through the biomarker assessment. The companion diagnostics market is primarily driven by the following factors:

  • Rising demand for targeted therapy
  • Increasing prevalence of cancer
  • Growing strategic initiatives for companion diagnostics test development

Companion Diagnostics Market

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The important driver increasing growth in the global companion diagnostics market is the rising demand for targeted therapy. Companion diagnostics are in-vitro diagnostics assays that are designed for predicting the efficacy of treatment with the use of biomarker-based valuations. Targeted therapy attacks specific types of cancer cells and companion diagnostics aid in the identification of candidates who may be benefitted from the targeted therapy.

The product, service and technologies of the companion diagnostics market are used extensively for various purposes. Companion diagnostics assay kits and reagents empower the laboratory to provide timely result by the usage of ready to use solutions. Adoption of software and services provide a platform to support every stage of the development initiative. It also facilitates the development of companion diagnostics by the production of assays. In situ hybridization market deals with the adoption of hybridization technique that localizes the specific sequence of deoxyribonucleic acid or ribonucleic acid within the section of tissue (in situ) by the use of labelled complementary strands of DNA, RNA or modified nucleic acids. Polymerase chain reaction is an indispensable and common technique adopted in clinical and research laboratories for different applications. Increasing research and development activities in immunohistochemistry for companion diagnostics, studies related to immunohistochemistry for biomarkers development. Other technologies in the market include imaging technology, multiplex assay, etc.

Issues related to intellectual property rights and reimbursement are the major factors hindering the companion diagnostics market. The issues related to the intellectual property of the companion diagnostics include patent eligibility, prosecution, enforceability, and patent privacy. For instance, drugs are protected by patents. However, in the case of companion diagnostics biomarkers are considered to be within the public domain thus there is less emphasis on intellectual property rights. Reimbursement issues in companion diagnostics restrict the adoption of companion diagnostic devices and hinder the growth of the global companion diagnostics market during the forecast period.

The Global Companion diagnostics market segments include product and service, end user, indication and technology.

Product and Service are segmented into:

  • Assay kits and reagents
  • Software and service

End users are segmented into:

  • Pharmaceutical and biopharmaceutical companies
  • Reference laboratories
  • Other end users

Indications are segmented into:

  • Oncology
  • Neurology
  • Infectious diseases
  • Other indications

Technology is segmented into:

  • In situ hybridization
  • Polymerase chain reaction
  • Immunohistochemistry
  • Next-generation sequencing
  • Other technologies

This report covers the present market conditions and the growth prospects of the global companion diagnostics market for 2018-2026 and considered the revenue generated through the sales of companion diagnostics for product and service, end user, indication and technology to calculate the market size by considering 2017 as the base year.

Geographically, the global companion diagnostics market has been segmented on the basis of four major regions, which include:

The companion diagnostics market in North America is expected to hold the largest share by 2026 on account of the supportive government initiatives to promote precision medicine research, along with the strategic alliances between key market players for companion diagnostics test development. Personalized medicine is expected to continue deliver the changing treatment paradigms and evolve beyond oncology with the aid of companion diagnostics. On the other hand, the Asia-Pacific market is anticipated to be the fastest-growing region for the companion diagnostics market. Asia-Pacific companion diagnostics market is expected to be on an upsurging trend owing to supportive government imitative to enhance researches on precision medicine, the high prevalence of cancer along with the strategic alliances between key market players for the development of companion diagnostics test.

The Companion Diagnostics Market is segmented based on end-users, which are sub-divided into pharmaceutical and biopharmaceutical companies, reference laboratories and other end users. The market is also segmented on the basis of indications which are sub-divided into oncology, neurology, infectious diseases, and other indications. Pharmaceutical and biopharmaceutical companies market is primarily driven by increasing pharmaceutical R&D spending globally along with the application of companion diagnostics by pharmaceutical and biopharmaceutical companies in the drug development process. The reference laboratories market is primarily driven by increasing collaboration of reference laboratories with pharmaceutical companies for the development of novel companion diagnostics. Oncology market involves companion diagnostics tests being deployed for precise diagnosis of the patients suffering from different types of cancers. Companion diagnostics in neurology offer support for accurate drug discovery and drug development by performing clinical trials. Notable clinical trials for the development of companion diagnostic tests for fast treatment of infectious disease boost the global companion diagnostics market growth by infectious diseases segment.

The major market players of the global companion diagnostics market are:

  • ABBOTT LABORATORIES.
  • DANAHER CORPORATION
  • GENOMIC HEALTH
  • MYRIAD GENETICS, INC.
  • GE HEALTHCARE

Company Profiles covers analysis of important players.

The diagnostics segment of Abbott Laboratories is engaged in manufacturing and marketing diagnostic systems and tests and selling them to blood banks, hospitals, commercial laboratories, clinics, physicians’ offices, government agencies, alternate care testing sites, and plasma protein therapeutic companies from Abbott owned distribution centers, public warehouses or third-party distributors. The products included in the segment are: immunoassay and clinical chemistry systems including ‘ARCHITECT’ and ‘ABBOTT PRISM’; a full line of haematology systems and reagents known as the Cell-Dyn series; the i-STAT point-of-care diagnostic systems and cartridges for blood analysis; and informatics and automation solutions for use in laboratories. The GE Healthcare Systems business offers a range of technologies and services that include diagnostic imaging and clinical systems. Diagnostic imaging structures include computed tomography (CT), digital mammography, X-ray, surgical and interventional imaging magnetic resonance (MR), and molecular imaging technologies. Clinical systems offered by GE Healthcare include incubators, electrocardiography (ECG), bone densitometry, patient monitoring, ultrasound, and infant warmers, respiratory care, and anaesthesia management.

Key Findings of the Global Companion diagnostics market:

  • Oncology market to hold the largest market share in terms of indicator
  • Assay kits and reagents are significantly used in terms of product and service
  • Increasing cancer incidence globally
  • Next-generation sequencing is growing significantly
  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • ONCOLOGY MARKET TO HOLD THE LARGEST MARKET SHARE IN TERMS OF INDICATOR
      • ASSAY KITS AND REAGENTS ARE SIGNIFICANTLY USED IN TERMS OF PRODUCT AND SERVICE
      • RISING INCIDENCE OF CANCER GLOBALLY
      • NEXT GENERATION SEQUENCING IS GROWING SIGNIFICANTLY
  1. MARKET DETERMINANTS
    • MARKET DRIVERS
      • RISING DEMAND FOR TARGETED THERAPY
      • INCREASING PREVALENCE OF CANCER
      • RISING STRATEGIC INITIATIVES FOR COMPANION DIAGNOSTICS TEST DEVELOPMENT
    • MARKET RESTRAINTS
      • ISSUES RELATED TO INTELLECTUAL PROPERTY RIGHTS
      • REIMBURSEMENT ISSUES
    • MARKET OPPORTUNITY
      • FOCUSED ON IMPLEMENTING COMPANION DIAGNOSTICS DUE TO RISING NEW INDICATION AREAS
      • GROWING DEMAND FOR NEXT-GENERATION SEQUENCING
      • ESCALATING NUMBER OF CLINICAL TRIALS IN COMPANION DIAGNOSTICS
    • MARKET CHALLENGES
      • PROLONGED DEVELOPMENT TIME OF COMPANION DIAGNOSTICS
      • LENGTHY APPROVAL PROCESS
  1. MARKET SEGMENTATION
    • MARKET BY PRODUCTS AND SERVICES 2018-2026
      • ASSAY KITS AND REAGENTS
      • SOFTWARE AND SERVICE
    • MARKET BY INDICATION 2018-2026
      • ONCOLOGY
      • NEUROLOGY
      • INFECTIOUS DISEASES
      • OTHER INDICATIONS
    • MARKET BY END USER 2018-2026
      • PHARMACEUTICAL AND BIOPHARMACEUTICAL COMPANIES
      • REFERENCE LABORATORIES
      • OTHER END USERS
    • MARKET BY TECHNOLOGY 2018-2026
      • IN SITU HYBRIDIZATION
      • POLYMERASE CHAIN REACTION
      • IMMUNOHISTOCHEMISTRY
      • NEXT GENERATION SEQUENCING
      • OTHER TECHNOLOGIES
  1. KEY ANALYTICS
    • PORTER’S 5 FORCES ANALYSIS
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTE PRODUCTS
      • BARGAINING POWER OF BUYER
      • BARGAINING POWER OF SUPPLIER
      • INTENSITY OF COMPETITIVE RIVALRY
    • ETYMOLOGY OF COMPANION DIAGNOSTICS
    • SUPPLY CHAIN ANALYSIS
    • KEY BUYING CRITERIA
    • REGULATORY FRAMEWORK
    • ESTIMATION ANALYSIS
  2. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • THE UNITED STATES
      • CANADA
    • EUROPE
      • THE UNITED KINGDOM
      • FRANCE
      • GERMANY
      • SPAIN
      • ITALY
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • INDIA
      • JAPAN
      • AUSTRALIA
      • SOUTH KOREA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST AND AFRICA
  1. COMPANY PROFILES
    • COMPETITIVE LANDSCAPE
    • ABBOTT LABORATORIES.
      • COMPANY OVERVIEW
      • PRODUCT PORTFOLIO
      • SCOT ANALYSIS
      • STRATEGIC INITIATIVES
    • ALMAC GROUP
      • COMPANY OVERVIEW
      • PRODUCT PORTFOLIO
      • SCOT ANALYSIS
      • STRATEGIC INITIATIVES
    • ARUP LABORATORIES
      • COMPANY OVERVIEW
      • PRODUCT PORTFOLIO
      • SCOT ANALYSIS
    • BIOCARTIS
      • COMPANY OVERVIEW
      • PRODUCT PORTFOLIO
      • SCOT ANALYSIS
      • STRATEGIC INITIATIVES
    • BIOMERIEUX S.A
      • COMPANY OVERVIEW
      • PRODUCT PORTFOLIO
      • SCOT ANALYSIS
    • DANAHER CORPORATION
      • COMPANY OVERVIEW
      • PRODUCT PORTFOLIO
      • SCOT ANALYSIS
      • STRATEGIC INITIATIVES
    • GE HEALTHCARE
      • COMPANY OVERVIEW
      • PRODUCTS PORTFOLIO
      • SCOT ANALYSIS
      • STRATEGIC INITIATIVES
    • GENOMIC HEALTH
      • COMPANY OVERVIEW
      • PRODUCT PORTFOLIO
      • SCOT ANALYSIS
      • STRATEGIC INITIATIVES
    • ILLUMINA, INC.
      • COMPANY OVERVIEW
      • PRODUCT PORTFOLIO
      • SCOT ANALYSIS
      • STRATEGIC INITIATIVES
    • MYRIAD GENETICS, INC.
      • COMPANY OVERVIEW
      • PRODUCT PORTFOLIO
      • SCOT ANALYSIS
      • STRATEGIC INITIATIVES
    • QIAGEN N.V.
      • COMPANY OVERVIEW
      • PRODUCT PORTFOLIO
      • SCOT ANALYSIS
      • STRATEGIC INITIATIVES
    • ROCHE DIAGNOSTICS (A HOFFMANN-LA ROCHE AG DIVISON)
      • COMPANY OVERVIEW
      • PRODUCT PORTFOLIO
      • SCOT ANALYSIS
      • STRATEGIC INITIATIVES
    • SYSMEX CORPORATION
      • COMPANY OVERVIEW
      • PRODUCT PORTFOLIO
      • SCOT ANALYSIS
      • STRATEGIC INITIATIVES
    • THERMO FISHER SCIENTIFIC, INC.
      • COMPANY OVERVIEW
      • PRODUCT PORTFOLIO
      • SCOT ANALYSIS
      • STRATEGIC INITIATIVES

TABLE LIST

TABLE  1      GLOBAL COMPANION DIAGNOSTICS MARKET BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE  2      PERSONALIZED THERAPEUTICS APPROVED BY THE FDA

TABLE  3      GLOBAL COMPANION DIAGNOSTICS MARKET BY PRODUCT AND SERVICE 2018-2026 ($ MILLION)

TABLE  4      GLOBAL COMPANION DIAGNOSTICS MARKET IN ASSAY KITS AND REAGENTS BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE  5      GLOBAL COMPANION DIAGNOSTICS MARKET IN SOFTWARE AND SERVICE BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE  6      GLOBAL COMPANION DIAGNOSTICS MARKET BY INDICATION 2018-2026 ($ MILLION)

TABLE  7      GLOBAL COMPANION DIAGNOSTICS MARKET IN ONCOLOGY BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE  8      GLOBAL COMPANION DIAGNOSTICS MARKET IN NEUROLOGY BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE  9      GLOBAL COMPANION DIAGNOSTICS MARKET IN INFECTIOUS DISEASES BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE  10    GLOBAL COMPANION DIAGNOSTICS MARKET IN OTHER INDICATIONS BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE  11    GLOBAL COMPANION DIAGNOSTICS MARKET BY END USER 2018-2026 ($ MILLION)

TABLE  12    GLOBAL COMPANION DIAGNOSTICS MARKET IN PHARMACEUTICAL AND BIOPHARMACEUTICAL COMPANIES BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE  13    GLOBAL COMPANION DIAGNOSTICS MARKET IN REFERENCE LABORATORIES BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE  14    GLOBAL COMPANION DIAGNOSTICS MARKET IN OTHER END USERS BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE  15    GLOBAL COMPANION DIAGNOSTICS MARKET BY TECHNOLOGY  2018-2026 ($ MILLION)

TABLE  16    GLOBAL COMPANION DIAGNOSTICS MARKET IN IN SITU HYBRIDIZATION BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE  17    GLOBAL COMPANION DIAGNOSTICS MARKET IN POLYMERASE CHAIN REACTION BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE  18    GLOBAL COMPANION DIAGNOSTICS MARKET IN IMMUNOHISTOCHEMISTRY BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE  19    GLOBAL COMPANION DIAGNOSTICS MARKET IN NEXT GENERATION SEQUENCING BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE  20    GLOBAL COMPANION DIAGNOSTICS MARKET IN OTHER TECHNOLOGIES BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE  21    GLOBAL COMPANION DIAGNOSTICS MARKET BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE  22    NORTH AMERICA COMPANION DIAGNOSTICS MARKET BY COUNTRIES 2018-2026 ($ MILLION)

TABLE  23    THE UNITED STATES COMPANION DIAGNOSTICS MARKET BY INDICATION 2018-2026 ($ MILLION)

TABLE  24    CANADA COMPANION DIAGNOSTICS MARKET BY INDICATION 2018-2026 ($ MILLION)

TABLE  25    EUROPE COMPANION DIAGNOSTICS MARKET BY COUNTRIES 2018-2026 ($ MILLION)

TABLE  26    THE UNITED KINGDOM COMPANION DIAGNOSTICS MARKET BY INDICATION 2018-2026 ($ MILLION)

TABLE  27    FRANCE COMPANION DIAGNOSTICS MARKET BY INDICATION 2018-2026 ($ MILLION)

TABLE  28    GERMANY COMPANION DIAGNOSTICS MARKET BY INDICATION 2018-2026 ($ MILLION)

TABLE  29    SPAIN COMPANION DIAGNOSTICS MARKET BY INDICATION 2018-2026 ($ MILLION)

TABLE  30    ASIA PACIFIC COMPANION DIAGNOSTICS MARKET BY COUNTRIES 2018-2026 ($ MILLION)

TABLE  31    CHINA COMPANION DIAGNOSTICS MARKET BY INDICATION 2018-2026 ($ MILLION)

TABLE  32    INDIA COMPANION DIAGNOSTICS MARKET BY INDICATION 2018-2026 ($ MILLION)

TABLE  33    JAPAN COMPANION DIAGNOSTICS MARKET BY INDICATION 2018-2026 ($ MILLION)

TABLE  34    AUSTRALIA COMPANION DIAGNOSTICS MARKET BY INDICATION 2018-2026 ($ MILLION)

TABLE  35    REST OF WORLD COMPANION DIAGNOSTICS MARKET BY COUNTRIES 2018-2026 ($ MILLION)

TABLE  36    LATIN AMERICA COMPANION DIAGNOSTICS MARKET BY INDICATION 2018-2026 ($ MILLION)

TABLE  37    MIDDLE EAST AND AFRICA COMPANION DIAGNOSTICS MARKET BY INDICATION 2018-2026 ($ MILLION)

FIGURE LIST          

FIGURE  1    GLOBAL COMPANION DIAGNOSTICS MARKET 2018-2026 ($ MILLION)

FIGURE  2    GROWING NUMBER OF PEOPLE WITH CANCER WORLDWIDE

FIGURE  3    SUPPLY CHAIN ANALYSIS OF COMPANION DIAGNOSTICS INDUSTRY

FIGURE  4    KEY BUYING CRITERIA

FIGURE  5    R&D SPENDING IN BIOPHARMACEUTICAL INDUSTRY GLOBALLY ($ BILLION)

FIGURE  6    NEWLY REGISTERED CLINICAL TRIAL STUDY 2016-2018

FIGURE  7    THE UNITED STATES COMPANION DIAGNOSTICS MARKET 2018-2026 ($ MILLION)

FIGURE  8    CANADA COMPANION DIAGNOSTICS MARKET 2018-2026 ($ MILLION)

FIGURE  9    THE UNITED KINGDOM COMPANION DIAGNOSTICS MARKET 2018-2026 ($ MILLION)

FIGURE  10  FRANCE COMPANION DIAGNOSTICS MARKET 2018-2026 ($ MILLION)

FIGURE  11  GERMANY COMPANION DIAGNOSTICS MARKET 2018-2026 ($ MILLION)

FIGURE  12  SPAIN COMPANION DIAGNOSTICS MARKET 2018-2026 ($ MILLION)

FIGURE  13  ITALY COMPANION DIAGNOSTICS MARKET 2018-2026 ($ MILLION)

FIGURE  14  REST OF EUROPE COMPANION DIAGNOSTICS MARKET 2018-2026 ($ MILLION)

FIGURE  15  CHINA COMPANION DIAGNOSTICS MARKET 2018-2026 ($ MILLION)

FIGURE  16  INDIA COMPANION DIAGNOSTICS MARKET 2018-2026 ($ MILLION)

FIGURE  17  JAPAN COMPANION DIAGNOSTICS MARKET 2018-2026 ($ MILLION)

FIGURE  18  AUSTRALIA COMPANION DIAGNOSTICS MARKET 2018-2026 ($ MILLION)

FIGURE  19  SOUTH KOREA COMPANION DIAGNOSTICS MARKET 2018-2026 ($ MILLION)

FIGURE  20  REST OF ASIA PACIFIC COMPANION DIAGNOSTICS MARKET 2018-2026 ($ MILLION)

FIGURE  21  LATIN AMERICA COMPANION DIAGNOSTICS MARKET 2018-2026 ($ MILLION)

FIGURE  22  MIDDLE EAST AND AFRICA COMPANION DIAGNOSTICS MARKET 2018-2026 ($ MILLION)

FIGURE  23  COMPANY MARKET SHARE OF GLOBAL COMPANION DIAGNOSTICS MARKET 2017 (%)

  1. MARKET SEGMENTATION
    • MARKET BY PRODUCTS AND SERVICES 2018-2026
      • ASSAY KITS AND REAGENTS
      • SOFTWARE AND SERVICE
    • MARKET BY INDICATION 2018-2026
      • ONCOLOGY
      • NEUROLOGY
      • INFECTIOUS DISEASES
      • OTHER INDICATIONS
    • MARKET BY END USER 2018-2026
      • PHARMACEUTICAL AND BIOPHARMACEUTICAL COMPANIES
      • REFERENCE LABORATORIES
      • OTHER END USERS
    • MARKET BY TECHNOLOGY 2018-2026
      • IN SITU HYBRIDIZATION
      • POLYMERASE CHAIN REACTION
      • IMMUNOHISTOCHEMISTRY
      • NEXT GENERATION SEQUENCING
      • OTHER TECHNOLOGIES
  1. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • THE UNITED STATES
      • CANADA
    • EUROPE
      • THE UNITED KINGDOM
      • FRANCE
      • GERMANY
      • SPAIN
      • ITALY
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • INDIA
      • JAPAN
      • AUSTRALIA
      • SOUTH KOREA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST AND AFRICA

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