StemCell Therapy

Dublin, Dec. 30, 2020 (GLOBE NEWSWIRE) -- The "Companion Diagnostics Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

The growth of the global companion diagnostics market can be attributed to the rising focus on personalized medicine and the co-development of drug and diagnostic technologies. Additionally, rising cases of adverse drug reactions related to drugs, due to the lack of efficacy, drive the need for companion diagnostics.

One of the major factors driving the growth of the companion diagnostics market is the increasing demand for personalized medicines and awareness about the same, among the population. With companies increasing their collaborations for better biomarkers and diagnostics, in order to focus on cost regulations, there has been a significant number of opportunities for its applications in indications, like cancer, cardiovascular, and neurological disorders.

Key Market Trends

Application in Lung Cancer is expected to Dominate the Market over the Forecast Period

Companion diagnostic tests (CDXs) are considered mandatory in decision-making for treatment with targeted therapies in lung cancer. The emergence of immunotherapy has also given rise to the development of CDXs. Therascreen EGFR RGQ PCR Kit (Qiagen) and Cobas EGFR Mutation Test v2 (Roche Molecular Systems) are some of the many companion diagnostics available for lung cancer therapies.

Moreover, lung cancer is the most common form of cancer, and causes most cancer-related deaths, globally, as per the 2018 report by the World Health Organization. This translates to more demand for lung cancer companion diagnostics, which is expected to help the market growth.

North America Captured the Largest Market Share and is Expected to Retain its Dominance

North America dominated the overall companion diagnostics market, with the United States emerging as the major contributor to the market. The use of companion diagnostics is considered as an important treatment decision tool for a number of oncology drugs, which is also reflected in the way the FDA classifies these assays, in relation to risk.

In the United States, companion diagnostic assays are classified as IVD class III products, which represents a high-risk category, and consequently, the highest level of regulatory control. Hence, owing to high healthcare technology adoption rates and increasing demand for personalized medicine, the US companion diagnostics market is expected to register a substantial growth rate, during the forecast period.

Competitive Landscape

The presence of major market players, such as Abbott Laboratories, Agilent Technologies Inc., F Hoffmann-La Roche Ltd, Biomerieux SA, and Qiagen NV, is increasing the overall competitive rivalry of the market studied.

However, the issues associated with the high development cost and poor reimbursement are affecting the market negatively. Moreover, the rising focus of companies toward personalized medicine, co-development activities, and increased cases of adverse drug reactions is expected to boost the competitive rivalry in the market studied.

Key Topics Covered:

1 INTRODUCTION1.1 Study Deliverables1.2 Study Assumptions1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS4.1 Market Overview4.2 Market Drivers4.2.1 Companies Promoting Personalized Medicine and Targeted Therapy as a New Treatment Option4.2.2 Increasing Cases of Adverse Drug Reactions4.2.3 Co-development of Drug and Diagnostic Technology4.3 Market Restraints4.3.1 High Cost of Drug Development and Associated Clinical Trials4.3.2 Reimbursement Issues among Many Countries4.4 Industry Attractiveness - Porter's Five Forces Analysis

5 MARKET SEGMENTATION5.1 By Technology5.1.1 Immunohistochemistry (IHC)5.1.2 Polymerase Chain Reaction (PCR)5.1.3 In-situ Hybridization (ISH)5.1.4 Real-time PCR (RT-PCR)5.1.5 Gene Sequencing5.1.6 Other Technologies5.2 By Indication5.2.1 Lung Cancer5.2.2 Breast Cancer5.2.3 Colorectal Cancer5.2.4 Leukemia5.2.5 Melanoma5.2.6 Other Indications5.3 By Geography

6 COMPETITIVE LANDSCAPE6.1 Company Profiles6.1.1 Abbott Laboratories6.1.2 Agilent Technologies Inc.6.1.3 F Hoffmann-La Roche Ltd6.1.4 Biomerieux SA6.1.5 Qiagen NV6.1.6 Siemens Healthcare6.1.7 Thermo Fisher Scientific Inc.6.1.8 Danaher Corporation (Beckman Coulter Inc.)

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/7z4nt2

Story continues

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

See the article here:
Global Companion Diagnostics Market Growth, Trends, and Forecasts Report 2020-2025: Companies Promoting Personalized Medicine and Targeted Therapy as...

This entry was posted on January 2, 2021 at 5:54 pm and is filed under Personalized Medicine. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed. |