Global Companion Diagnostics (CDx) Market: Focus on Technology, Indication, Country-wise Analysis, Regulatory Framework, and Competitive Landscape - Analysis and Forecast, 2018-2025
In the era of precision medicine, the healthcare industry is focused on the development of advanced biomarker-based diagnostics to deliver improved patient care and enhance treatment outcome. The increasing prevalence of chronic disorders and improving regulatory framework for supporting drug-diagnostic co-development models are promoting the growth of the companion diagnostics market. Thereby, the advent of precision medicine approach and development of precision diagnostics are improving quality of life of the patients and reducing economic, societal, and clinical burden.
Presently, companion diagnostic (CDx) solutions are developed based on four technologies which include Immunohistochemistry (IHC), In Situ Hybridization (ISH), Next Generation Sequencing (NGS), and Polymerase Chain Reaction (PCR). Till date, the healthcare industry has witnessed a number of successful procedures for parallel development of drug and its companion diagnostic, but mostly for oncology. However, successful commercialization and approval of companion diagnostics for multiple cancer types, including lung cancer, breast cancer, leukemia, colorectal cancer, gastric cancer, ovarian cancer, and melanoma, have further drawn the attention of several pharmaceutical and diagnostic companies to venture into this lucrative market by developing CDx solutions for non-oncology indications, including neurodegenerative diseases, infectious diseases, metabolic disorders, and cardiovascular diseases. Further, several players are now focusing on the development of multiple biomarker-based CDx development, which is anticipated to enhance the growth of NGS-based companion diagnostics market.
The purpose of this study is to gain a holistic view of the companion diagnostics market in terms of various influencing factors, such as recent trends, regulatory frameworks, and technological advancements in the market. The scope of this report constitutes a detailed study of the technologies associated with the global companion diagnostics market. The market has been segmented into ‘technology’, ‘indication’, and ‘region’. The report presents the reader with an opportunity to unlock comprehensive insights with respect to the market and helps in forming well-informed strategic decisions. The research uncovers some of the substantial parameters that must be taken into consideration before entering into the market.
This research report aims at answering various aspects of the global companion diagnostics market with the help of the key factors driving the market, the restraints, and the challenges that can possibly inhibit the overall market growth, and the current growth opportunities that are going to shape the future trajectory of the market expansion. The report includes an in-depth examination of the key players and recent developments taking place in this market. Moreover, the report includes chapters on market dynamics (market drivers, opportunities, and challenges) and industry analysis as well.
The research study highlights the factors governing the industry attractiveness with Porter’s Five Forces for a comprehensive understanding of the global companion diagnostics market. Moreover, the study includes detailed product mapping, market estimation, and analysis of key trends in multiple geographical regions, growth of companion diagnostics market in each region for different cancer types, and the key strategies and developments by the prominent companion diagnostics manufacturers.
The answers to the following key questions can be derived from this report:
- What are the major market drivers, challenges, and opportunities in the global companion diagnostics market?
- What are the underlying structures resulting in the emerging trends within the companion diagnostics industry?
- What was the market value of the leading segments and sub-segments of the global companion diagnostics systems market in 2017?
- How will each segment of the global companion diagnostics market grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2025?
- What are the influencing factors that may affect the market share of the key players?
- How will the industry evolve during the forecast period 2018- 2025?
- What are the key developmental strategies which are being implemented by the key players to sustain in this competitive market?
- What are the key technologies in companion diagnostics market? What are the major benefits of each technology?
- How has the market been segmented on the basis of indication? Which indication is dominating the global companion diagnostics market and its reason?
- What is the market share of the companies by CDx technologies which include Immunohistochemistry (IHC), In Situ Hybridization (ISH), Next Generation Sequencing (NGS), and Polymerase Chain Reaction (PCR)?
- Who are the key manufacturers in the companion diagnostics market and what are their contributions?
- What is the scope of each companion diagnostic technology in North America, Europe, and Asia-Pacific?
- What are the key regulatory implications in developed and developing regions for companion diagnostics?
- What is the growth potential of companion diagnostics in each region?
- Which companion diagnostic technology is having most promising growth and in which indication type?
The key manufacturers who have been contributing significantly to the companion diagnostics market include Abbott Laboratories, Agilent Technologies, Inc., ARUP Laboratories, bioMérieux S.A., Danaher Corporation, F. Hoffmann-La Roche AG, Illumina, Inc., Invivoscribe Technologies, Inc., MolecularMD Corporation, Myriad Genetics, Inc., QIAGEN N.V., Thermo Fisher Scientific Inc., among others.
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