The India companion diagnostics market is likely to grow with a CAGR of 14.28% in terms of revenue across the estimated period, capturing a revenue share of $302.28 million by 2028. The base year regarded for the market study is 2021, while the forecast years are from 2022 to 2028.

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The market growth of the country is primarily facilitated by the rapidly developing genomics industry, in addition to the rise in middle-class healthcare facilities.

The number of commercialized predictive biomarker assays has substantially increased, mainly for chronic diseases, in order to assist in the development of targeted treatments. In this regard, companion diagnostics are characterized as an assay or type of biomarker-based test produced simultaneously with the targeted drug development process through the use of a methodology termed drug-diagnostic co-development. Also, companion diagnostics provide critical information for patient classification, thus enabling the efficient and safe usage of associated biological and pharmaceutical treatments.

As an emerging market for genomics, biomarker-based tests are gradually being accepted by numerous oncologists across India. Moreover, the increase in middle-class healthcare facilities and medical centers, as well as the presence of skilled clinicians, plays a pivotal role in fueling the demand and adoption of clinical diagnostics in the country. Government hospitals, including the National Institute of Mental Health and Neurosciences (NIMHANS), Tata Memorial Hospital, and All India Institute of Medical Sciences (AIIMS), are establishing extensive efforts in order to identify novel disease genes and biomarkers, as well. Thus, these factors are set to augment the companion diagnostics market growth in India during the estimated years.

The India companion diagnostics market is segmented into technology, indication, products & services, and end-user. The end-user category comprises reference laboratories, pharmaceutical and biopharmaceutical companies, and other end-users. The pharmaceutical and biopharmaceutical companies segment is linked to companion diagnostic kits and devices with primary applications across pharmaceutical as well as biopharmaceutical firms. These facilities make use of companion diagnostics for the selection of suitable candidates for clinical trials, in addition to monitoring a drug’s efficacy.

The growth of the segment is strengthened by the application of companion diagnostics by these companies throughout the drug development process and the rise in pharmaceutical research and development expenditure.

The other end-users segment constitutes companion diagnostic devices and kits with chief applications across CROs (Contract Research Organizations), physician labs, hospital labs, and others. These end-users utilize companion diagnostics in order to determine treatment efficiency and aid in the identification of appropriate treatments for patients. The segment’s growth is attributable to the increasing adoption of personalized medicine and the surging incidence of cancer.

Some of the major corporations operating in the India companion diagnostics market are Medipoint, Q2 Solutions, Siemens, etc.

Illumina Inc, headquartered in the United States, is a global provider of genetic testing products and array-based as well as sequencing technology. The company also offers whole genome sequencing devices and kits for cancer and genetic tests within the global companion diagnostics marketplace.

The company’s HiSeq 3000/4000 PE (Paired-End) Cluster Kit, through the use of the cBot cluster amplification device, offers reagents for cluster formation. Collectively with HiSeq 3000/4000 SBS Kits, HiSeq 3000/4000 Cluster Kits may produce nearly 1500 Gb (1.5 Tb) of output for individual dual flow cell runs.

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