The global companion diagnostics market is growing at a significant CAGR of around 12.8% during the forecast period (2020-2026). Companion diagnostics is referred to as in-vitro diagnostic device or an imaging tool that is used as a companion to a certain class of a therapeutic drug, to determine its relevancy to a patient. There are various pivotal factors that are driving the global companion diagnostic market, which includes increasing cases of adverse reactions to drugs, increasing demand for precision medicine, and continuous development of technologically advanced diagnostic techniques.

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Moreover, a significant interest of government regulatory bodies can be seen in the companion diagnostics, which in turn, will drive fuel the market growth during the forecast period. For instance, in April 2020, the US FDA finalized the guidance that aimed at promoting broader labelling for companion diagnostics, to encourage precision oncology treatments across the globe. Such steps will promote the adoption of companion diagnostics across the globe. However, the unfavorable reimbursement policies will hamper the market growth during the forecast period.

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PCR technology is significantly used in the companion diagnostics, owing to which, the PCR companion diagnostic market is estimated to project a considerable CAGR during the forecast period. PCR technology is utilized in several biological and medical research for different applications that include detecting the presence or absence of gene during infection. In addition, backed with the widening scope of microbiome research, the market players are introducing advanced reagents and kits that make use of PCR techniques to overcome challenges associated with microbiome research.

The global companion diagnostics market is classified on the basis of geography, which includes North America, Europe, Asia-Pacific, and Rest of the World. North America holds a significant share in the global companion diagnostics market. The US plays the critical role in geographic contribution of North America in global companion diagnostics market, attributing to the well-developed healthcare infrastructure, rising prevalence of cancer, and high healthcare spending in the oncology segment. As per National Institutes of Health (NIH), there were more than 1.7 million new cases of cancer in the US in 2018.



Global Companion Diagnostics Market Segmentation
Global Companion Diagnostics Market by Technology
• Polymerase Chain Reaction (PCR)
• In Situ Hybridization (ISH)
• Immunohistochemistry (IHC)
• Next-Generation Sequencing (NGS)
• Others (Gene Sequencing)

Global Companion Diagnostics Market by Indication
• Breast Cancer
• Lung Cancer
• Melanoma
• Neurological Diseases
• Others (Gastric Cancer)


Global Companion Diagnostics Market – Segment by Region
North America
• United States
• Canada

Europe
• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World
• Latin America
• Middle East and Africa

Company Profiles
• Abbott Laboratories
• Abnova Corp.
• Agilent Technologies, Inc.
• Almac Group
• Amgen Inc.
• AstraZeneca PLC
• Biocartis NV
• bioMérieux SA
• F. Hoffmann-La Roche Ltd.
• Guardant Health, Inc.
• Illumina, Inc.
• Leica Biosystems
• Merck & Co., Inc.
• Myriad Genetics, Inc.
• Promega Corp.
• Protagen AG
• QIAGEN NV
• Siemens AG
• Sysmex Corp.
• Thermo Fisher Scientific Inc.


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