Market Research Reports Companion Diagnostics Market | Page 2

mesylate ) and BCR-ABL LDT and DAKO C-KIT PharmDx , Herceptin ( trastuzumab ) and DAKO Herceptest ; and Nolvaldex ( tamoxifen ) and laboratorydeveloped estrogen receptor positive test .
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Market Dynamics :
Companion diagnostics are beneficial for pharmaceutical companies who face challenges with respect to high drug development cost , safety and outcome of clinical trials , and long product approval time . Companion diagnostics lowers development costs , improves time to market and enhances drug safety by enabling rapid identification of target biomarker and the most effective drug therapy . For patients , the technology provides better treatment outcomes and lower morbidity risk . Use of technologies such as PCR , immunohistochemistry , and gene sequencing has enabled accurate diagnosis and determination of targeted cancer therapy . As the CDx tests also aid in revealing the off-target effects of a drug along with identification of a molecular target , CDx have become and indispensable tool for oncologists .
Market Taxonomy :
This report segments the global companion diagnostics market on the basis of application , technology , and geography . On the basis of application , the market is categorized into breast cancer , lung cancer , colorectal cancer , gastric cancer , melanoma , and others . On the basis of technology , the market is segmented into immunohistochemistry , real-time PCR , gene sequencing , Fluorescence in situ hybridization ( FISH ), and others . For comprehensive understanding of market dynamics , the global companion diagnostics market is analyzed across key geographical regions namely North America , Europe , Asia Pacific , Latin America , Africa , and Middle East . Each of these regions is analyzed on basis of market