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Companion Diagnostics Market Size

Report ID: GMI3972
Published Date: Jul 2019
Report Format: PDF

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Companion Diagnostics Market Size

Companion Diagnostics Market size exceeded USD 2 billion in 2018 and is poised to grow at over 19% CAGR between 2019 and 2025. Growing incidences of adverse drug reactions will prove beneficial for the market growth.

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Companion diagnostics help doctors to identify patients at higher risk of side effects from certain medications and thus enable their prevention. Companion diagnostics further helps to adjust drug treatment to avoid hazardous repercussions and enhance clinical outcomes.

Companion Diagnostics Market Report Attributes
Report Attribute	Details
Base Year:	2018
Companion Diagnostics Market Size in 2018:	2 Billion (USD)
Forecast Period:	2019 to 2025
Forecast Period 2019 to 2025 CAGR:	19%
2025 Value Projection:	6.5 Billion (USD)
Historical Data for:	2014 to 2018
No. of Pages:	110
Tables, Charts & Figures:	110
Segments covered:	Product, Disease Indication, Technology, End-use and Region
Growth Drivers:	Increasing drug diagnostic co-development Improving regulatory scenario Growing incidences of adverse drug reaction Increasing prevalence of cancer globally
Pitfalls & Challenges:	High cost of companion diagnostics test in developing and underdeveloped regions

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Increasing prevalence of cancer across the globe will boost the companion diagnostics market demand. Cancer patients react differently to variety of drugs and consequently need personalized therapy. Companion diagnostics provide accurate information about the drug’s effectiveness and safety in different patient group.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The market size of companion diagnostics exceeded USD 2 billion in 2018 and is poised to grow at over 19% CAGR between 2019 and 2025.

North America market size is estimated to expand at more than 18% CAGR during the forecast timeline impelled by increasing prevalence of chronic diseases and growing geriatric population susceptible to these diseases.

Asia Pacific market revenue is anticipated to witness around 20.5% growth through 2025. Government initiatives for providing effective treatment to cancer patients will propel the regional market expansion.

Some of the notable players operating in the market are Roche, Pfizer, Merck, Astra Zeneca, Bristol Myers Squibb, Amgen, Biogen, Eli Lilly, Myriad Genetics, Johnson & Johnson, Becton, Dickinson and Company, and Abbott.

Hospital end-use segment dominated around 40% market share in 2018 owing to increasing patient pool due to high prevalence of chronic disorders.