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GLOBAL INDUSTRY INSIGHT:
Companion Diagnostics Market Size, Share, Development, Growth and Demand Forecast to 2020
Global Companion Diagnostics Market Size, Share, Development,
Growth and Demand Forecast to 2020
Companion diagnostics offers a set of tools that facilitates biological and clinical information to the pharmaceutical
companies that they have to overcome. Companion diagnostics help physicians to improve the treatment
decisions for the patients depending on their response to current treatments. Companion diagnostics approach to
medication is transforming the healthcare industry by eliminating unfavorable reactions, improving treatment
outcomes, and reducing the cost and time difficulties associated with conventional methods of medication.
Companion diagnostic is basically a bio-analytical method designed to evaluate whether the patient will respond
favorably to the specific medical treatment or not. The market is fully dependent on discovery of biomarkers, and
research and development of new drugs. With the surge in research and development of targeted rehabilitations
and innovation of new biomarkers for a range of conditions, the global companion diagnostics market is growing
at healthy rate.
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Several targeted drugs in association with a companion diagnostics test are developed and have reached to large
numbers of consumers. Large and small biopharmaceutical companies actively develop drug diagnostic
combination products which are fast to surpass traditional drugs, favoring the concept of one-size-fits-all. U.S.
Food and Drug Administration (FDA) have approved companion diagnostics for lung colorectal, breast, and
melanoma. Some of the companion diagnostics devices are erbitux vectibix, lynparza, gilotrif, herceptin, exjade,
gleevec, zelboraf and tarceva.
On the basis of technology, the companion diagnostics market can be bifurcated as immunohistochemistry test
(IHC), polymerase chain reaction tests (PCR), and in situ hybridization tests (ISH). Based on the application, the
global companion diagnostics market can be categorized as breast cancer, gastric cancer, colorectal cancer,
melanoma, and lung cancer. Further on the bases of end users, the global companion diagnostics market can be
categorized as reference laboratories and pharmaceutical companies.
Regulatory agencies, such as FDA, are encouraging the use of companion diagnostics in the development and
use of prescribed drugs. The guidance started in 2004 in the form of FDA critical path initiative and was followed
by the drug diagnostic co-development concept in 2005.
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Increasing scope for companion diagnostics and emerging technologies, such as next-generation sequencing
(NGS), are some of the major opportunities for the global companion diagnostics market. Some of the major
factors driving the growth of global companion diagnostics market are growing adoption of companion diagnostics
by pharmaceutical companies and reference laboratories, regulatory bodies encouraging implementation of
companion diagnostics, increasing demand and developmental of personalized medicine and rising demand for
targeted cancer treatment.
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Global Companion Diagnostics Market Size, Share, Development,
Growth and Demand Forecast to 2020
Reimbursement scenario, effect of influence of advocacy groups and clinical societies, and extended
developmental and approval phases are some of the factors that are restraining the growth of global companion
diagnostics market. One of the major challenges for the companion diagnostics market is co-ordination in the
development of drugs and diagnostics together.
North America had the largest companion diagnostics market because of the increasing incidence of cancer and
increased healthcare awareness. Whereas, Asia-Pacific is the fastest growing market of companion diagnostics
owing to the strengthening healthcare services and increasing medical tourism in developing countries such as
India and China.
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Some of the major competitors in companion diagnostics market are Thermo Fisher Scientific, Inc., Ventana
Medical Systems Inc, Biogenex Laboratories Inc, Agilent Technologies, Leica Microsystems GmbH, Abbott
Laboratories, Inc., Danaher Corporation, Myriad Genetics, Life Technologies, Inc., BioMerieux SA, Roche
Diagnostics, and GE Healthcare.
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Global Companion Diagnostics Market Size, Share, Development,
Growth and Demand Forecast to 2020
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