The global market for Companion Diagnostics is estimated at US$13.3 Billion in 2023 and is projected to reach US$15.4 Billion by 2030, growing at a CAGR of 2.1% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the companion diagnostics market is driven by several factors. The increasing prevalence of cancer and other chronic diseases necessitates the development of targeted therapies, which in turn boosts the demand for companion diagnostics. Regulatory agencies, such as the FDA, are emphasizing the importance of companion diagnostics in the drug approval process, encouraging pharmaceutical companies to incorporate these tests into their clinical development strategies. The rise of precision medicine and the growing adoption of personalized treatment approaches are also propelling market growth. Furthermore, advancements in molecular diagnostics technologies, such as NGS and digital PCR, are enhancing the accuracy and efficiency of companion diagnostics, making them more accessible and reliable. The expansion of biomarker discovery and the increasing use of biomarkers in drug development are generating new opportunities for the market. Additionally, the collaboration between diagnostic companies and pharmaceutical firms is fostering innovation and accelerating the development of new companion diagnostics. These factors collectively contribute to the robust growth and widespread adoption of companion diagnostics, transforming the landscape of personalized medicine and improving patient care.
The growth in the companion diagnostics market is driven by several factors. The increasing prevalence of cancer and other chronic diseases necessitates the development of targeted therapies, which in turn boosts the demand for companion diagnostics. Regulatory agencies, such as the FDA, are emphasizing the importance of companion diagnostics in the drug approval process, encouraging pharmaceutical companies to incorporate these tests into their clinical development strategies. The rise of precision medicine and the growing adoption of personalized treatment approaches are also propelling market growth. Furthermore, advancements in molecular diagnostics technologies, such as NGS and digital PCR, are enhancing the accuracy and efficiency of companion diagnostics, making them more accessible and reliable. The expansion of biomarker discovery and the increasing use of biomarkers in drug development are generating new opportunities for the market. Additionally, the collaboration between diagnostic companies and pharmaceutical firms is fostering innovation and accelerating the development of new companion diagnostics. These factors collectively contribute to the robust growth and widespread adoption of companion diagnostics, transforming the landscape of personalized medicine and improving patient care.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Companion Diagnostics Assay kits & Reagents segment, which is expected to reach US$9.7 Billion by 2030 with a CAGR of a 1.4%. The Companion Diagnostics Software & Services segment is also set to grow at 3.5% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $3.6 Billion in 2023, and China, forecasted to grow at an impressive 1.5% CAGR to reach $2.4 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Companion Diagnostics Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Companion Diagnostics Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Companion Diagnostics Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Abbott Molecular, Agilent Technologies, Inc., bioMérieux SA, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 47 Featured):
- Abbott Molecular
- Agilent Technologies, Inc.
- bioMérieux SA
- Cepheid
- Danaher Corporation
- F. Hoffmann-La Roche Ltd.
- Foundation Medicine Inc.
- Laboratory Corporation of America® Holdings
- Leica Biosystems Nussloch GmbH
- Merck & Co. Inc.
- Myriad Genetics Inc.
- NeoGenomics Laboratories, Inc.
- QIAGEN N.V.
- Quest Diagnostics Inc.
- Thermo Fischer Scientific Inc.
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISCANADAITALYREST OF EUROPEREST OF WORLDIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
UNITED KINGDOM
ASIA-PACIFIC
Companies Mentioned
- Abbott Molecular
- Agilent Technologies, Inc.
- bioMérieux SA
- Cepheid
- Danaher Corporation
- F. Hoffmann-La Roche Ltd.
- Foundation Medicine Inc.
- Laboratory Corporation of America® Holdings
- Leica Biosystems Nussloch GmbH
- Merck & Co. Inc.
- Myriad Genetics Inc.
- NeoGenomics Laboratories, Inc.
- QIAGEN N.V.
- Quest Diagnostics Inc.
- Thermo Fischer Scientific Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 196 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 13.3 Billion |
| Forecasted Market Value ( USD | $ 15.4 Billion |
| Compound Annual Growth Rate | 2.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
