Market Study Report LLC Companion Diagnostics Market

MarketStudyReport.com Adds New Companion Diagnostics Market 2019 – 2025 research report
providing information and data By Product, By Disease Indication, By Technology, By End-use,
Industry Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast
spreading across 110 Pages with table and figures in it.
Companion Diagnostics Market will exceed USD 6.5 billion by 2025; as per a new research
report. Increasing incidences of cancer across the globe will prove beneficial for companion
diagnostics market growth over the forthcoming years. Lung, breast, colorectal and skin are
some of the most common forms of cancer. According to WHO, in 2018 nearly 9.6 million
people died of cancer. Mortality and burden associated with cancer can be drastically reduced if
diagnosed at early stages and patient specific treatment is provided. As a result, demand for
targeted therapies is prevailing the field of oncology thereby augmenting the companion
diagnostics market growth.
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Increasing cases of adverse drug reactions (ADRs) will escalate companion diagnostics industry
growth. Adverse drug reaction occurred due to incompatibility of certain patients to standard
therapy and can have life threatening consequences. As companion diagnostics enables
prevention of ADRs and associated complications by development of personalized therapy, its
demand will increase with growing incidences of adverse drug events. However, high cost of
companion diagnostics may hamper business growth to certain extent.
Breast cancer segment accounted for more than 30% revenue share in 2018. As reported by
WHO, in 2018, around 627,000 women died of breast cancer and the number is predicted to
increase in near future. Changing lifestyle, favorable demographic trends are predicted to
contribute to growing incidences. In such scenario companion diagnostic tests serve the best
purpose by allowing efficient treatment of breast cancer by analyzing individual needs and
response to different drugs.
North America companion diagnostic market will experience more than 18% CAGR over the
analysis time frame owing to increasing research and development practices and growing
prevalence of chronic diseases. Furthermore, increased levels of patient awareness regarding
benefits of targeted therapies and availability of advanced healthcare facilities will enhance
demand of companion diagnostic tests augmenting regional growth.
Consumables segment will witness around 19% CAGR over the forecast period owing to
availability of advanced consumable kits, reagent and associated advantages. For instance, Roche
diagnostics developed VENTANA ALK (D5F3) CDx Assay portfolio that provides reliable
results enabling timely diagnostic decisions and therapeutic choices. Moreover, consumables are
bought frequently and needed in large quantity that should augment the segment growth in the
coming years.
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