Companion Diagnostics Market Scope
Companion diagnostic is a medical device which provides information about safety and usefulness of a drug to be used as targeted medication. Essentially, this diagnostic is carried out to find patients who are expected to be benefited from a specific therapeutic product. Additionally, it monitors individual’s response to a treatment in order to find out it particular treatment is to be continued or it needs to be changed during course of time.
According to AMA, the Global Companion Diagnostics market is expected to see growth rate of 14.6% Research Analyst at AMA estimates that American Players will contribute to the maximum growth of Global Companion Diagnostics market throughout the predicted period.
F. Hoffmann-La Roche AG (Switzerland), Agilent Technologies Inc. (United States), Qiagen N.V. (Germany), Thermo Fisher Scientific Inc. (United States), Abbott Laboratories Inc. (United States), Biomérieux SA (France), Danaher Corporation (United States), Illumina Inc. (United States), Myriad Genetics (United States), Arup Laboratories Inc. (United States), Sysmex Corporation (Japan), Hologic Inc. (United States) and Novartis AG (Switzerland) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Almac Group (United Kingdom), Guardant Health, Inc. (United States), Almac Group (United Kingdom) and Abnova Corporation (Taiwan).
Segmentation Overview
The study have segmented the market of Global Companion Diagnostics market and Region with country level break-up.
On the basis of geography, the market of Companion Diagnostics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Rise in Focus on Development of Personalized Medicine, Technical Advancement in Companion Diagnostics Devices and Increasing Focus on Liquid Biopsy
Market Growth Drivers:
Increasing Demand for Targeted Therapy Amid Increasing Prevalence of Chronic Disease and Rising in Number People with Cancer Diseases
Challenges:
Lack of Availability of Skilled Personnel
Restraints:
High Cost Associated with Companion Diagnostics Tests and Inadequate Reimbursement Scheme for Companion Diagnostics
Opportunities:
Rise in Demand of Next-Generation Sequencing (NGS) and Growing Number of Clinical Trials Globally
Key Target Audience
Companion Diagnostics Providers, End-user Industries, Potential Investors, Market Research and Consulting Firms, Governments and World Health Organization Bodies and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.