Companion
Diagnostics Market
was valued at USD 1.8 billion in 2013 and is expected to grow at a
CAGR of 18.1% from 2013 to 2019, to reach an estimated value of USD
5.6 billion in 2019.
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the full report at
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Companion
diagnostics are the tests or assays which assist physicians in making
efficient treatment decisions depending on the patient response to
the ongoing treatment. These tests are developed either once the drug
is commercialized or along with the drug in development. The
diagnostic test acts as a companion to the drug under investigation
and ensures the commercialization of a safer and efficient targeted
therapeutic in a very cost effective manner. The most important
factors favoring growth of the global companion diagnostics market
include the increasing focus of pharmaceutical manufacturers on cost
reduction in drug discovery and development, and the rising demand
for targeted therapies. Also, continuous exploration of biomarkers
and advances in diagnostic technologies will drive the growth and
acceptance of companion diagnostics worldwide.
Factors
such as lack of compact regulatory guidelines for the development and
commercialization of companion diagnostics, high cost of procedures,
lengthy developmental and approval phases, and lack of proper reach
and availability (particularly in the low income countries) are
expected to hamper the ready acceptance of companion diagnostics.
Currently, many in vitro diagnostics companies are focusing on the
development of accurate and reliable companion diagnostics for
various biomarkers. Pharmaceutical companies are either focusing on
in-house development of companion diagnostics or development in
collaboration with diagnostics companies. This strategy focusing on
the co-development of a drug and its companion diagnostic will prove
to be advantageous over the conventional development process
occurring in isolation.
The global companion diagnostics market can be categorized by tests for various indications and geography. Companion diagnostics market for breast cancer was the most prominent segment of the market in 2012 by revenue. Extensive research on breast cancer biomarkers and a paradigm shift towards personalized medicine will continue to propel the adoption of breast cancer companion diagnostics. However, another attractive segment of this market is that of lung cancer companion diagnostics, with the discovery of lung cancer specific biomarkers and an elaborate pipeline of related companion diagnostics for the same. It is estimated that the global market for lung cancer companion diagnostics will grow at a CAGR of over 20% from 2013 to 2019.
At
a regional level, North America was the largest market in 2012 for
companion diagnostics, followed by the European region. The favorable
healthcare policies, large consumer base, high disposable incomes,
increased awareness, presence of suitable infrastructure facilities
and ready acceptance of novel approaches in medicine will propel
rapid development of companion diagnostics in the North American
market. The Asia-Pacific and RoW regions are expected to experience
commendable growth by 2019 due to the huge untapped potential, rising
disposable incomes and continuous improvements in healthcare
infrastructure.
The
companion diagnostics market is characterized by the presence of
established diagnostics manufacturers as well as small players solely
operating in this market. The major companies competing in this
market are Roche Holdings AG, Qiagen N.V., Abbott Laboratories,
Agilent Technologies, Inc., Genomic Health, Inc., GE Healthcare Ltd.,
Life Technologies Corporation, and Agendia N.V.
The
global companion diagnostics market is segmented as follows:
Companion
Diagnostics Market, by Indications
Breast
Cancer
Lung
Cancer
Colorectal
Cancer
Gastric
Cancer
Melanoma
Others
(HIV, Thalassemia)
Companion
Diagnostics Market, by Geography
North
America
Europe
Asia-Pacific
Rest
of the World (RoW)
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