According to the latest report by IMARC Group, titled “ Companion Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 , The global companion diagnostics market size reached US$5.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$11.7 Billion by 2027, exhibiting a growth rate (CAGR) of 14.78% during 2022-2027.
Companion diagnostics are a range of tests that help to match a patient to a particular therapy or drug. These tests are performed through an in-vitro medical device that offers essential information for the safe and effective use of a corresponding drug or biological product. These tests help in diagnosing different categories of diseases, including infectious, neurological, and cardiovascular diseases. Consequently, companion diagnostics are extensively utilized by laboratories, pharmaceuticals, and research institutes.
Global Companion Diagnostics Market Trends:
The rising demand for personalized medicine across the globe is majorly driving the companion diagnostics market growth. The rising awareness regarding the discovery of new biomarkers for diverse medical conditions are further contributing to the market growth. In line with this, an increasing numbercases of adverse drug reactions (ADRs) due to the lack of efficacy of treatment methods are fueling the market growth. Furthermore, rising research and development (RD) activities for the development of novel diagnostic tests for chronic diseases are creating a positive outlook for the market.
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Global Companion Diagnostic Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
The report has segmented the market on the basis on region, product services, technology, indication and end-user.
Breakup by Product Service:
Breakup by Technology:
Breakup by Indication:
Breakup by End User:
Breakup by Region:
Key highlights of the report:
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