The
global companion diagnostics market will be valued at $5.6 billion in
2019. It is expected to grow at a CAGR of 18.1% from 2013 to 2019,
and was valued at $1.8 billion in 2013, according to a research
report published by Transparency Market Research.
The
research report, titled “Companion Diagnostics Market (Breast
Cancer, Lung Cancer, Colorectal Cancer, Gastric Cancer, Melanoma and
Others) - Global Industry Analysis, Size, Share, Growth, Trends and
Forecast, 2013 – 2019”, fully explores current and future
possibilities in the growing segment of companion diagnostics.
Browse
the full Report at
The
report states that the companion diagnostics market for breast cancer
was the dominant sector in 2012, in terms of revenue. The upcoming
sector for the near future is lung cancer. The segment is growing at
a CAGR of more than 20% between 2013 and 2019. The report cites
reasons for growth as the discovery of lung cancer specific
biomarkers, along with a myriad of relevant companion diagnostics.
The
largest market according to region in 2012 was North America, with
the E.U. in following. The report said that the factors that favored
the market’s growth were positive healthcare policies, a growing
consumer base, increasing disposable incomes, improvements in
healthcare systems, and increased awareness. The acceptance of modern
medicine into mainstream sectors in the U.S. and the E.U. are the
prime reasons for the growth of this market. The Asia-Pacific region
and the Rest of the World regions are set to show considerable growth
by the year 2019. The report cites untapped potential, increasing
disposable incomes, and an improving healthcare infrastructure.
The
report explains that companion diagnostics are tests which assist
physicians while making decisions regarding the most efficient
treatment methods, depending on responses by the patient over ongoing
treatment.
Key
restraints as explained by the report include regulatory
restrictions, commercialization of companion diagnostics, heavy
procedure costs, long phases of approval, and lack of reach towards
the low income countries.
Key
companies in the companion diagnostics market include Quagen N.V.,
Abbott Laboratories, Life Technologies, Genomic Health, Inc., GE
Healthcare Ltd., Roche Holdings AG, Agilent Technologies, Inc., and
Agendia N.V.
The
report provides exhaustive details on the companion diagnostics
market by segmenting it according to indications and geography. By
indications, the market is classified into breast cancer, lung
cancer, melanoma, gastric cancer, colorectal cancer, and others such
as HIV and thalassemia. According to geography, the reports details
North America, Europe, Asia-Pacific, and Rest of the World.
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