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Companion Diagnostic Market

The Companion Diagnostic Market is Expected to Foresee Significant Growth. The U.S. to lead the growth!

The Companion Diagnostics Market is expected to witness a CAGR of around 16% during the forecast period Companion diagnostic is a diagnostic test used as a companion to a therapeutic drug to determine its applicability to a specific person. In addition, the companion diagnostic market has tremendous growth due to the increasing incidence of cancer, growing regular demand for precious medicine, chronic diseases, and new and advanced developments. For instance, according to the data published by the American Cancer Society (ACS), in January 2020, around 1.8 million new cancer cases were diagnosed and 606,520 cancer deaths in the United States. 

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Based on indication, the companion diagnostic market is segmented into breast cancer, lung cancer, colorectal cancer, gastric cancer, and others. Among these, the breast cancer category is anticipated to witness a significant growth rate during the forecast period. This is mainly due to the rise in the number of cases of breast cancer among middle-aged women across the globe. Moreover, to surge the awareness of the early diagnosis of breast cancer also maintain the growth of this market. For instance, in 2020, there were 2.3 million women diagnosed with breast cancer and 685 000 deaths globally. As of the end of 2020, there were 7.8 million women alive who were diagnosed with breast cancer in the past 5 years, making it the world’s most prevalent cancer.

Based on technology, the companion diagnostic market is segmented into real-time-polymerase chain reaction (RT-PCR), gene sequencing, fluorescence in situ hybridization, and others. The real-time-polymerase chain reaction (RT-PCR) category is supposed to witness a considerable growth rate during the forecast period. RT-PCR may be used to look for certain changes in a gene or chromosome, which may help in the diagnosis of a genetic condition, or a disease such as cancer including lung cancer, colorectal cancer, breast cancer, etc. Moreover, PCR kits serve as a tool that is easily available, ready to use, and have a tendency to give effective and accurate results as well as optimized for a specific condition. For instance, in January 2020, the Centers for Medicare & Medicaid Services (CMS) expanded its coverage of next-generation sequencing as a diagnostic tool for patients with germline (inherited) breast cancer.

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For a better understanding of the market, the report provides a detailed analysis of major regions and countries including North America (U.S., Canada, Rest of North America); Europe (Germany, U.K., France, Spain, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, Rest of Asia-Pacific) and Rest of World. In 2020, North America accounted for a significant market share. The rising growth of this market in the region is mainly due to the presence of many cancer patients, well-settled healthcare infrastructures, and the availability of a high number of hospitals & healthcare clinics in the region. Moreover, the availability of major key players and manufacturers progressively increases its capacity to meet the growing global demand for gloves. These factors also contribute to the growth of this market. For instance, according to the American Cancer Society (CMS), in 2022, around 99,780 new melanomas will be diagnosed (about 57,180 in men and 42,600 in women). About 7,650 people are expected to die of melanoma in the U.S.

Some of the major companies operating in the companion diagnostic market include Labcorp Drug Development, Agilent Technologies, Myriad Genetic Laboratories Inc., Qiagen NV, Roche Molecular Systems Inc., Abbott Laboratories, Foundation Medicine Inc., Ventana Medical Systems Inc., Illumina Inc., and Life Technologies Corporation.

Companion Diagnostic Market Segmentation

Market Insight, By Indication

  • Breast Cancer
  • Lung Cancer
  • Colorectal Cancer
  • Gastric Cancer
  • Others

Market Insight, Technology

  • Real Time-Polymerase Chain Reactions
  • Gene Sequencing
  • In situ Hybridization
  • Others

Market Insight, By Region

  • North America Companion Diagnostic Market
    • U.S.
    • Canada
    • Rest of North America
  • Europe Companion Diagnostic Market
    • Germany
    • U.K.
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia-Pacific Companion Diagnostic Market
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • Rest of the World Companion Diagnostic Market

Top Company Profiles

  • Labcorp Drug Development
  • Agilent Technologies
  • Myriad Genetic Laboratories Inc
  • Qiagen
  • Roche Molecular Systems Inc
  • Abbott
  • Foundation Medicine Inc
  • Ventana Medical Systems Inc
  • Illumina Inc
  • Life Technologies Corporation

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