According to the report analysis, ‘Global Companion Diagnostics Market – Drivers, Restraints, Opportunities, Trends, and Forecasts: 2018-2024’ states that there are numerous key players which recently performing in the companion diagnostics market more positively for leading the fastest market growth and accounting the highest value of market share across the globe in the coming years while developing the applications of the companion diagnostics and increasing requirement for the next-generation sequencing includes F. Hoffmann-La Roche Ltd, Qiagen N.V., Abbott Laboratories, Myriad Genetics, Agilent Technologies, Inc., BioMerieux S.A., Danaher Corporation (Leica Microsystems AG), Resonance Health Limted, Thermo Fisher Scientific, Inc., Genomic Health, Inc and several others.
The companion diagnostics are the molecular tests that deliver the indispensable information for the security and efficient usage of the corresponding drug. These tests support the healthcare professionals to choose whether a detailed treatment product assistances patient for curing disease, expect drug toxicities, off-target effects of treatment, and several other contrary effects correlated to the drug. It is also effective utilized during the clinical trials to direct the treatment, which can develop therapy comebacks and treatment results. In the present era, there are over 20 appropriate or unfurnished companion diagnostic tests and major of the tests are for cancer treatments targeting mutation.
Furthermore, according to the study of World Health Organization, nearly 14 million new cancer cases were established and is anticipated to increase by around 70% over the next 2 decades. The inclination of snowballing incidence of cancer & infectious diseases is contagious up even in underdeveloped regions owing to the increased acceptance of the Western lifestyle, which is predicted to propel the growth of the companion diagnostics market in near years.
Nonetheless, the companion diagnostics market is flourishing more actively owing to the augmenting patient base for infectious diseases & cancer across the globe, extraordinary acceptance of the companion diagnostics, augmenting requirement for the companion diagnostics, and unindustrialized applications of companion diagnostics. For instance, the low mindfulness &shortage of the professionals to conduct tests and uncomplimentary reimbursement development in advanced &underdeveloped economies are few of the factors hindering the market growth to an extent.
However, in February 2017, the Roche proclaimed the launch of Elecsys AMH Plus immunoassay, the first companion diagnostic to be permitted for the effective usage in fertility. The key market players are acceptance product endorsements that are facilitating them to augment the market share. For instance, in June 2017, the US FDA approved the approval to Thermo Fisher Scientific for NGS-based test recognized as the OncomineDx Target test, which immediately appraises 23 genes clinically associated to NSCLC.
The Global Companion Diagnostics market is predicted to observe an efficient CAGR of 19.6% during the forecast period of 2018-2024. Whereas, the market of companion diagnostics is sectored across the globe which majorly involves North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is set to be the foremost region for the companion diagnostics market growth followed by Europe, Asia Pacific, and Rest of the World. Therefore, in the near future, it is anticipated that the market of companion diagnostics will increase across the globe more significantly over the coming years.
For more information on the research report, refer to below link:
Global Next Generation Cancer Diagnostics Market Size Study, By Technology (NGS, LOAC & RT-PCR), By Application (CTC, Biomarker, Proteomic), By Cancer Type (Lung, Breast), By Function Companion Diagnostics) and Regional Forecasts, 2017-2025
Ankur Gupta, Head Marketing & Communications