Companion Diagnostics Market Size, Share, Trends, Growth Outlook

Companion Diagnostics Market is estimated to increase at a Compounded Annual Growth Rate of 10.9% CAGR over the forecast period from 2024 to 2030

The Companion Diagnostics Market study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments- By Products and Services (Assays, Kits & Reagents, Software & Services), By Technology (Polymerase Chain Reaction, Next-generation Sequencing, In Situ Hybridization, Immunohistochemistry, Others), By Indication (Cancer, Neurological Disorders, Cardiovascular Diseases, Infectious Diseases, Others), By End-User (Pharmaceutical & Biopharmaceutical Companies, Reference Laboratories, Contract Research Organizations, Others).

An Introduction to Companion Diagnostics Market in 2024

Companion diagnostics are medical devices, tests, or assays used to identify biomarkers or molecular signatures that can predict a patient's response to a specific therapeutic intervention, such as a drug or targeted therapy. In 2024, companion diagnostics play a crucial role in personalized medicine and precision oncology by guiding treatment decisions, optimizing drug selection, and improving patient outcomes. These diagnostics are developed in conjunction with targeted therapies or biologics and are used to stratify patient populations based on their likelihood of responding to a particular treatment. Companion diagnostics may utilize various technologies, including immunohistochemistry, fluorescence in situ hybridization (FISH), polymerase chain reaction (PCR), and next-generation sequencing (NGS), to detect specific genetic mutations, protein expression patterns, or other molecular alterations associated with disease pathology or treatment response. With advancements in molecular profiling, bioinformatics, and regulatory frameworks, companion diagnostics offer increased accuracy, sensitivity, and specificity for predicting treatment responses and guiding personalized treatment plans for patients with cancer and other complex diseases. As the era of precision medicine continues to evolve, companion diagnostics remain essential tools for tailoring therapeutic interventions to individual patients and improving the efficacy and safety of medical treatments.

Market Trend: Integration of Companion Diagnostics in Precision Medicine

A significant trend in the companion diagnostics market is the integration of companion diagnostics in precision medicine. Companion diagnostics are tests that help healthcare providers identify patients who are most to benefit from a particular therapy, based on their genetic or molecular characteristics. With the advancement of precision medicine approaches, there is a growing recognition of the importance of companion diagnostics in guiding treatment decisions and optimizing patient outcomes. Pharmaceutical companies increasingly develop companion diagnostics alongside targeted therapies to ensure that treatments are administered to the right patients, at the right time, with the highest likelihood of success. This trend towards integrating companion diagnostics into precision medicine approaches reshapes the diagnostic landscape, offering opportunities for personalized and targeted healthcare interventions.

Market Driver: Increasing Adoption of Targeted Therapies

A key driver fueling the companion diagnostics market is the increasing adoption of targeted therapies. Targeted therapies are drugs or treatments that selectively target specific molecules or pathways involved in disease progression, offering greater efficacy and fewer side effects compared to traditional treatments. Companion diagnostics play a crucial role in the development and utilization of targeted therapies by identifying patients who are most to respond to these treatments based on their genetic or molecular profiles. As pharmaceutical companies continue to invest in the development of targeted therapies for various diseases, there is a corresponding demand for companion diagnostics to ensure optimal patient selection and treatment outcomes. The increasing adoption of targeted therapies drives the growth and demand for companion diagnostics in the healthcare industry.

Market Opportunity: Expansion into Oncology and Immunotherapy

An opportunity within the companion diagnostics market lies in the expansion into oncology and immunotherapy. Oncology and immunotherapy are rapidly evolving fields of medicine, with a growing number of targeted therapies and immunomodulatory drugs being developed for the treatment of cancer and other immune-related disorders. Companion diagnostics play a critical role in identifying biomarkers and patient populations that are most to respond to these innovative therapies, guiding treatment selection and improving patient outcomes. By expanding into the oncology and immunotherapy sectors, diagnostic companies can capitalize on the growing demand for companion diagnostics in these therapeutic areas, while also contributing to advancements in personalized cancer care and immunotherapy approaches. Investing in the development of companion diagnostics tailored for oncology and immunotherapy treatments presents a significant opportunity for growth and differentiation in the companion diagnostics market.

Companion Diagnostics Market Share Analysis: Next-generation Sequencing (NGS) Technology is the fastest growing segment over the forecast period to 2030

In the Companion Diagnostics Market, the Next-generation Sequencing (NGS) Technology segment emerges as the fastest-growing segment. This growth is driven by several key factors. Firstly, NGS technology offers unparalleled capabilities for comprehensive genomic analysis, enabling the identification of genetic mutations, biomarkers, and therapeutic targets with high precision and efficiency. As precision medicine gains momentum in both human and veterinary healthcare, there's an increasing demand for advanced diagnostic tools that can provide personalized treatment strategies tailored to individual patients, including companion animals. NGS technology facilitates the development of companion diagnostics by enabling the simultaneous analysis of multiple genetic markers associated with various diseases, including cancer, neurological disorders, cardiovascular diseases, and infectious diseases. Additionally, the declining costs of NGS technology and the continuous advancements in sequencing platforms have made genomic profiling more accessible and cost-effective, driving its widespread adoption in companion diagnostics. Moreover, pharmaceutical and biopharmaceutical companies are increasingly incorporating companion diagnostics into their drug development pipelines to improve patient stratification and therapeutic outcomes, further fueling the demand for NGS-based assays and services. With its ability to revolutionize diagnostic approaches and facilitate personalized medicine in veterinary healthcare, the Next-generation Sequencing (NGS) Technology segment is experiencing rapid growth and is poised to continue its expansion in the market.

Companion Diagnostics Competitive Analysis

The market research study provides in-depth insights into leading companies including the SWOT analyses, product profile, financial details, and recent developments acrossAbbott Laboratories Inc, Agilent Technologies Inc, Almac Group, bioMérieux SA, Danaher Corp, F. Hoffmann-La Roche AG, Illumina Inc, Myriad Genetics Inc, QIAGEN, Sysmex Corp, Thermo Fisher Scientific Inc

Companion Diagnostics Market Segmentation

By Products and Services
Assays
Kits & Reagents
Software & Services
By Technology
Polymerase Chain Reaction
Next-generation Sequencing
In Situ Hybridization
Immunohistochemistry
Others
By Indication
Cancer `
Neurological Disorders
Cardiovascular Diseases
Infectious Diseases
Others
By End-User
Pharmaceutical & Biopharmaceutical Companies
Reference Laboratories
Contract Research Organizations
Others
Geographical Analysis
North America (United States, Canada, Mexico)
Europe (Germany, France, United Kingdom, Spain, Italy, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)

Companion Diagnostics Market Companies

Abbott Laboratories Inc
Agilent Technologies Inc
Almac Group
bioMérieux SA
Danaher Corp
F. Hoffmann-La Roche AG
Illumina Inc
Myriad Genetics Inc
QIAGEN
Sysmex Corp
Thermo Fisher Scientific Inc

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• Benefit from tailored solutions and expert consultation based on report insights, providing personalized strategies aligned with specific business needs.

TABLE OF CONTENTS

1 Introduction to 2024 Companion Diagnostics Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Covered
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain

2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations

3 Executive Summary
3.1 Global Companion Diagnostics Market Size Outlook, $ Million, 2021 to 2030
3.2 Companion Diagnostics Market Outlook by Type, $ Million, 2021 to 2030
3.3 Companion Diagnostics Market Outlook by Product, $ Million, 2021 to 2030
3.4 Companion Diagnostics Market Outlook by Application, $ Million, 2021 to 2030
3.5 Companion Diagnostics Market Outlook by Key Countries, $ Million, 2021 to 2030

4 Market Dynamics
4.1 Key Driving Forces of Companion Diagnostics Industry
4.2 Key Market Trends in Companion Diagnostics Industry
4.3 Potential Opportunities in Companion Diagnostics Industry
4.4 Key Challenges in Companion Diagnostics Industry

5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Companion Diagnostics Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook

6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts

7 Global Companion Diagnostics Market Outlook by Segments
7.1 Companion Diagnostics Market Outlook by Segments, $ Million, 2021- 2030
By Products and Services
Assays
Kits & Reagents
Software & Services
By Technology
Polymerase Chain Reaction
Next-generation Sequencing
In Situ Hybridization
Immunohistochemistry
Others
By Indication
Cancer `
Neurological Disorders
Cardiovascular Diseases
Infectious Diseases
Others
By End-User
Pharmaceutical & Biopharmaceutical Companies
Reference Laboratories
Contract Research Organizations
Others

8 North America Companion Diagnostics Market Analysis and Outlook To 2030
8.1 Introduction to North America Companion Diagnostics Markets in 2024
8.2 North America Companion Diagnostics Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Companion Diagnostics Market size Outlook by Segments, 2021-2030
By Products and Services
Assays
Kits & Reagents
Software & Services
By Technology
Polymerase Chain Reaction
Next-generation Sequencing
In Situ Hybridization
Immunohistochemistry
Others
By Indication
Cancer `
Neurological Disorders
Cardiovascular Diseases
Infectious Diseases
Others
By End-User
Pharmaceutical & Biopharmaceutical Companies
Reference Laboratories
Contract Research Organizations
Others

9 Europe Companion Diagnostics Market Analysis and Outlook To 2030
9.1 Introduction to Europe Companion Diagnostics Markets in 2024
9.2 Europe Companion Diagnostics Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Companion Diagnostics Market Size Outlook by Segments, 2021-2030
By Products and Services
Assays
Kits & Reagents
Software & Services
By Technology
Polymerase Chain Reaction
Next-generation Sequencing
In Situ Hybridization
Immunohistochemistry
Others
By Indication
Cancer `
Neurological Disorders
Cardiovascular Diseases
Infectious Diseases
Others
By End-User
Pharmaceutical & Biopharmaceutical Companies
Reference Laboratories
Contract Research Organizations
Others

10 Asia Pacific Companion Diagnostics Market Analysis and Outlook To 2030
10.1 Introduction to Asia Pacific Companion Diagnostics Markets in 2024
10.2 Asia Pacific Companion Diagnostics Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Companion Diagnostics Market size Outlook by Segments, 2021-2030
By Products and Services
Assays
Kits & Reagents
Software & Services
By Technology
Polymerase Chain Reaction
Next-generation Sequencing
In Situ Hybridization
Immunohistochemistry
Others
By Indication
Cancer `
Neurological Disorders
Cardiovascular Diseases
Infectious Diseases
Others
By End-User
Pharmaceutical & Biopharmaceutical Companies
Reference Laboratories
Contract Research Organizations
Others

11 South America Companion Diagnostics Market Analysis and Outlook To 2030
11.1 Introduction to South America Companion Diagnostics Markets in 2024
11.2 South America Companion Diagnostics Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Companion Diagnostics Market size Outlook by Segments, 2021-2030
By Products and Services
Assays
Kits & Reagents
Software & Services
By Technology
Polymerase Chain Reaction
Next-generation Sequencing
In Situ Hybridization
Immunohistochemistry
Others
By Indication
Cancer `
Neurological Disorders
Cardiovascular Diseases
Infectious Diseases
Others
By End-User
Pharmaceutical & Biopharmaceutical Companies
Reference Laboratories
Contract Research Organizations
Others
12 Middle East and Africa Companion Diagnostics Market Analysis and Outlook To 2030
12.1 Introduction to Middle East and Africa Companion Diagnostics Markets in 2024
12.2 Middle East and Africa Companion Diagnostics Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Companion Diagnostics Market size Outlook by Segments, 2021-2030
By Products and Services
Assays
Kits & Reagents
Software & Services
By Technology
Polymerase Chain Reaction
Next-generation Sequencing
In Situ Hybridization
Immunohistochemistry
Others
By Indication
Cancer `
Neurological Disorders
Cardiovascular Diseases
Infectious Diseases
Others
By End-User
Pharmaceutical & Biopharmaceutical Companies
Reference Laboratories
Contract Research Organizations
Others

13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
List of Companies
Abbott Laboratories Inc
Agilent Technologies Inc
Almac Group
bioMérieux SA
Danaher Corp
F. Hoffmann-La Roche AG
Illumina Inc
Myriad Genetics Inc
QIAGEN
Sysmex Corp
Thermo Fisher Scientific Inc

14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise

By Products and Services
Assays
Kits & Reagents
Software & Services
By Technology
Polymerase Chain Reaction
Next-generation Sequencing
In Situ Hybridization
Immunohistochemistry
Others
By Indication
Cancer `
Neurological Disorders
Cardiovascular Diseases
Infectious Diseases
Others
By End-User
Pharmaceutical & Biopharmaceutical Companies
Reference Laboratories
Contract Research Organizations
Others
Countries Analyzed
North America (United States, Canada, Mexico)
Europe (Germany, France, United Kingdom, Spain, Italy, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)