Companion Diagnostic Market – The Biggest Trends to Watch out for 2017-2023

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Pune, India — 02/06/2018 — MarketResearchFuture.com adds “Companion Diagnostic Market -2018 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2023” reports to its database.

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The report titled “Companion Diagnostic Market -Forecast to 2023? is a direct appreciation by Market Research Future of the market potential of the Companion Diagnostic Market. The report intends to provide accurate and meaningful insights, both quantitative as well as qualitative. It can be said with high confidence level, that this report will satisfy the need for comprehensive insights needed to compete and beat other players in today's winner takes all market! Globally, the market for companion diagnostics is expected to grow at the rate of about 15.4% from 2017 to 2023.

Regional Analysis of Global Companion Diagnostics Market:
The global companion diagnostics market consists of four regions: the Americas, Europe, Asia Pacific, and the Middle East & Africa

America holds largest market for companion diagnostics market. In Americas, North America is the major contributor to the companion diagnostics market owing to an expensive use of advanced diagnostics devices and alarming need for cancer diagnosis and treatment.

Europe is the second largest market after Americas owing to the growth of new technologies for cancer diagnostics in Europe, rising demand for efficiency in healthcare and strengthening healthcare system. Germany is the largest market in Europe followed by U.K.

Asia Pacific market is expected to be the fastest growing market for companion diagnostics due to continuous developments in developing countries such as India and China, and increasing healthcare expenditure in these countries. Rising prevalence of lifestyle disease such as diabetes, obesity and cancers also boost the market growth in Asia Pacific.

Middle East & Africa are expected to have a limited but steady growth owing to low healthcare expenditure and demand for primary healthcare services in this region.

Global Companion Diagnostics Market Players:
The major participants of this market are Abbott (U.S.), Agilent Technologies (U.S.), ARUP Laboratories (U.S.), and F. Hoffmann-La Roche AG. (Germany), Myriad Genetics Inc. (U.S.), QIAGEN N.V. (Germany), and Thermo Fisher Scientific Inc. (U.S.).

Market Highlights of Global Companion Diagnostics:
The global companion diagnostics market is expected to show steady growth owing to the demand for new diagnostics tests and devices for cancer and other life threatening diseases. Furthermore, growing emphasis on early diagnosis and treatment of cancer may lead an increase in the demand for diagnostic services in developing countries.

On the other hand, there are some hindering factors which are restricting the market growth. Incorrect results from the test can lead to the inadequate treatment being given to the patient leading to the serious complications and adverse effects. The inaccuracy in the test increases the risk factor for the patients and it somehow hinders the growth of the market. Furthermore, high cost of robust diagnostic devices such as PCR machine may restrain the market growth.

According to the American Cancer Society, prostate cancer is the most common cancer among males (19%), followed by lung (14%) and colorectal (9%) cancers and among females, breast (30%), lung (12%), and colorectal (8%) cancers are the most common. Furthermore, the market is expected to grow in Asia Pacific due to an increase in the burden for cancer in this region.

Taste the market data and market information presented through more than 87 market data tables and 39 figures spread over 108 numbers of pages of the project report. Avail the in-depth TOC & market synopsis on “Companion Diagnostics Market Research Report –Global Forecast to 2023.

Segmentation of Global Companion Diagnostics Market:
The global companion diagnostics market has been segmented on the basis of technology which comprises of Polymerase Chain Reaction (PCR), In-situ hybridization, and immunohistochemistry. On the basis of application, market is segmented into cancer, infectious diseases, cardiovascular diseases, CNS diseases, and others. On the basis of end user, market is segmented into pharmaceutical & biotech companies, clinical laboratories, CRO, and other.

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Global Companion Diagnostics Market by Technology:
Global Companion Diagnostics Market by Technology, is projected to grow at a CAGR of 15.4% and is expected to reach US$ 12,647.5 million by 2023. In Global Companion Diagnostics Market by Technology, Polymerase Chain Reaction (PCR) accounted for the largest market share in 2016.

Globally, Companion Diagnostics market is dominated by North America region. The global Companion diagnostics market comprises of techniques such as polymerase chain reaction (PCR), In-situ hybridization, and immunohistochemistry. PCR captures maximum market share. However, in-situ hybridization segment is developing and it is expected to grow at the highest growth rate during the forecasted period of 2017 to 2023.

Companion Diagnostics is the as a bio-analytical method designed for the assessment of the patient to check whether patient responds to a specific medical treatment or not. Companion diagnostics are used to determine which patients are benefited from a certain type of medication or which therapies are best suited for the patients with certain medical conditions. Companion diagnostics involves tests and devices or tools which provide information about the safe and effective use of the specific therapeutic product. It not only provides information about the efficacy of the drugs but also the side effects that are associated with the drug. To control the rising cost of the drug discovery and development for the deadly and chronic diseases, the need for companion diagnostics is increasing; and with the increasing demand for the companion diagnostic tools and techniques, the global market for the companion diagnostics is growing.

Global Companion Diagnostics Market by Technology statistical report published by Market Research future contains a brief overview of market of various technology of companion diagnostics. The report analyzed the Global Companion Diagnostics Market by Technology and present systematic data of market share on the basis of segments and countries, and its growth rate for 2015 & 2016, along with forecast till 2023.

Market Research future through this report aims to provide understanding of the Global Companion Diagnostics Market by Technology on the basis of segments & countries, and also assists identification of ongoing trends along with anticipated growth during the forecasted period. For this report, extensive primary research was conducted to gain a deeper insight of the market performance. Various industry experts and Key Opinion Leaders (KOLs) were contacted and interviewed to get an idea of Global Companion Diagnostics Market by Technology.

Global Companion Diagnostics Market by Application:
Global Companion Diagnostics Market by Application, is projected to grow at a CAGR of 15.4% and is expected to reach US$ 12,647.5 million by 2023. In Global Companion Diagnostics Market by Application, Cancer accounted for the largest market share in 2016.

Globally, Companion Diagnostics market is dominated by North America region. The global Companion diagnostics market comprises of application such as cancer, infectious diseases, cardiovascular diseases, CNS disorders, and others. Cancer captures maximum market share. However, infectious diseases segment is developing and it is expected to grow at the highest growth rate during the forecasted period of 2017 to 2023.

Companion Diagnostics is the as a bio-analytical method designed for the assessment of the patient to check whether patient responds to a specific medical treatment or not. Companion diagnostics are used to determine which patients are benefited from a certain type of medication or which therapies are best suited for the patients with certain medical conditions. Companion diagnostics involves tests and devices or tools which provide information about the safe and effective use of the specific therapeutic product. It not only provides information about the efficacy of the drugs but also the side effects that are associated with the drug. To control the rising cost of the drug discovery and development for the deadly and chronic diseases, the need for companion diagnostics is increasing; and with the increasing demand for the companion diagnostic tools and techniques, the global market for the companion diagnostics is growing.

Global Companion Diagnostics Market by Application statistical report published by Market Research future contains a brief overview of market of various application of companion diagnostics. The report analyzed the Global Companion Diagnostics Market by Application and present systematic data of market share on the basis of segments and countries, and its growth rate for 2014 to 2017, along with forecast till 2023.

Market Research future through this report aims to provide understanding of the Global Companion Diagnostics Market by Application on the basis of segments & countries, and also assists identification of ongoing trends along with anticipated growth during the forecasted period. For this report, extensive primary research was conducted to gain a deeper insight of the market performance. Various industry experts and Key Opinion Leaders (KOLs) were contacted and interviewed to get an idea of Global Companion Diagnostics Market by Application.

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Jasmine Petters

Jasmine Petters

Jasmine hails from the city of Nizams, Hyderabad, and is currently pursuing her M.D. from there only. She is an internet wizard and has keen passion in All Things tech. She is a regular Comment contributor for The Daily Telescope and writes a Web column, in which she covers war, sports, and everything in between.
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