DUBLIN, Aug. 24, 2021 /PRNewswire/ — The «Companion Diagnostics – Global Market Trajectory & Analytics» report has been added to ResearchAndMarkets.com’s offering.
Global Companion Diagnostics Market to Reach $9.2 Billion by 2027
Amid the COVID-19 crisis, the global market for Companion Diagnostics estimated at US$3.4 Billion in the year 2020, is projected to reach a revised size of US$9.2 Billion by 2027, growing at a CAGR of 15.1% over the period 2020-2027.
Assay kits & Reagents, one of the segments analyzed in the report, is projected to record 14.3% CAGR and reach US$6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software & Services segment is readjusted to a revised 16.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1 Billion, While China is Forecast to Grow at 14.6% CAGR
The Companion Diagnostics market in the U.S. is estimated at US$1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.6 Billion by the year 2027 trailing a CAGR of 14.6% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.5% and 13% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11.1% CAGR.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- An Introductory Prelude
- Quashing the One-Size-Fits-All Approach, CDx Wield Great Promise for Streamlined Drug Discovery & Development
- Broader Scope and Applications Rev Up Growth Opportunities
- Healthy Growth Projected over the Next Few Years
- Developed Regions: Key Revenue Contributors
- Market Witnesses Fast Paced Growth in Developing Regions
- Northbound Trajectory in R&D Spending Creates Conducive Environment
- Prevailing Economic Scenario Favors Funding Pattern
2. FOCUS ON SELECT PLAYERS (Total 80 Featured)
- Abbott Molecular
- Agilent Technologies, Inc.
- bioMerieux SA
- Danaher Corporation
- F. Hoffmann-La Roche Ltd.
- Foundation Medicine Inc.
- Laboratory Corporation of America Holdings
- Leica Biosystems Nussloch GmbH
- Merck & Co. Inc.
- Myriad Genetics Inc.
- NeoGenomics Laboratories, Inc.
- QIAGEN N.V.
- Quest Diagnostics Inc.
- Thermo Fischer Scientific Inc.
3. MARKET TRENDS & DRIVERS
- Growing Significance of Personalized Medicine Remains a Major Market Driver
- Emphasis on Improving Targeted Therapies with CDx Tests Steers Momentum
- Herceptin Lays the Road for Companion Diagnostics
- Oncology – Dominant Therapy Area for CDx
- Rising Incidence of Cancer Propels the Need for CDx Tests
- Technology Advancements to Widen CDx Use Case
- PCR: Dominant Technology Type for CDx Testing
- Next-Generation Sequencing (NGS) Gains Widespread Traction in CDx Testing
- Significant Role of Biomarkers in Companion Diagnostics
- Critical Healthcare Needs of Aging Population Underpin CDx Sales
- Regulatory Scenario Favors CDx Market
- Resolving Prevailing Challenges: Critical for Future Growth of CDx Market
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- Total Companies Profiled: 80
For more information about this report visit https://www.researchandmarkets.com/r/g36mit
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets