The growing incidences of cancer cases are likely to surge the demand for companion diagnostic market share cancer biomarkers that can generate significant revenue in the coming period. The rising need for targeted therapy is recognized as another salient cause that may strengthen the industry. In addition, the growing number of clinical trials is anticipated to present various growth opportunities, which is expected to develop trade during the assessment period.

As per the assessment performed by Market Research Future (MRFR), the global companion diagnostics market size is anticipated to acquire a market value of USD 8,081.50 million while expanding at a CAGR of 20.29% by 2027. The increasing demand for personalized medicine is anticipated to be a significant factor that is expected to develop companion diagnostic technologies and augment the market during the review period.

Key Players

Some of the eminent players of the global companion diagnostics market are Thermo Fisher Scientific Inc. (US), F. Hoffmann-La Roche Ltd (Switzerland), Agilent Technologies, Inc. (the US), bioMérieux SA (France), QIAGEN (Germany), Abbott (US), Leica Biosystems Nussloch GmbH (Germany), Myriad Genetics, Inc. (the US), Illumina, Inc. (the US), ArcherDX, Inc. (the US), and NG Biotech (France).

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Segmentation:

The global companion diagnostics market, as per the study conducted by MRFR experts, had been segmented in the report based on products & services, technology, indication, and end users.

By Products & Services

Kits & Reagents
Assays
Software & Services

By Technology

Next-Generation Sequencing (NGS)
Polymerase Chain Reaction (PCR)
Immunohistochemistry
In-situ Hybridization
Other technologies

By Indication

Neurological Diseases
Cancer
Cardiovascular Diseases
Infectious Diseases
Others

By End-user

Contract Research Organizations
Laboratories
Pharmaceutical & Biopharmaceutical Companies
Others

Regional Analysis

As per the companion diagnostics market report by MRFR, the global market has been segmented into North America, Asia-Pacific, Europe, and the Middle East & Africa.

North America is anticipated to dominate the global market during the review period owing to the growing demand for personalized medicine. The increasing prevalence of chronic illness among the expanding populace is predicted to be another salient cause that can strengthen the market during the review period. As per the America Cancer Society records, by 2020, 1.8 million Americans are likely to be infected by the disease, which is likely to benefit the market in the coming time.

Europe is projected to be the second-largest market during the review period owing to the growing acceptance of companion diagnostics. The favorable reimbursement policies for companion diagnostics tests are predicted to develop the regional market during the review period.

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APAC is anticipated to be the fastest-growing region due to the increasing adoption of technologies in the healthcare sector. The growing funding in R&D and rising incidence of cancer, and the rising awareness about personalized therapeutics are other salient causes that can propel the regional market during the review period.

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