The Allied Market Research published a report on Companion Diagnostic Technologies Market 2019-2026 Interesting fact and figures (CAGR, Global Size, Shares and Revenue with Business Growth Support and Market Value and Volume with Supply Demand Scenario and Pipeline Projects). According to the report, the global companion diagnostics market garnered $1.67 billion in 2018 and is estimated to reach $6.45 billion by 2026, growing at a CAGR of 18.3% from 2019 to 2026.

Rise in prominence of personalized medicine, surge in cases of adverse drug reactions, and advancements in technologies for diagnostic techniques drive the growth in the market. However, unfavorable reimbursement policies in various countries hinder the market growth. On the other hand, surge in incidences of cancer across the globe and a significant rise in healthcare expenditure create new opportunities in the industry.

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Polymerase chain reaction (PCR) segment to maintain its dominant position by 2026

Based on technique type, the polymerase chain reaction (PCR) segment contributed nearly half of the total market share in 2018 and is expected to maintain its dominant position during the forecast period. This is due to high sensitivity, cost-effectiveness, and specificity along with its usage for simple automated platforms. On the other hand, the next-generation sequencing (NGS) segment would register the fastest CAGR of 19.7% from 2019 to 2026, owing to fewer turnaround times and its role in revolutionizing fields such as personalized medicine, genetic diseases, and clinical diagnostics. The report also discusses immunohistochemistry, in situ hybridization, and others.

Oncology segment register the highest market share throughout the forecast period

Based on indication, the oncology segment held the major market share in 2018, accounting for more than 90% of the total market. This segment is also anticipated to register the highest market share throughout the forecast period. Moreover, it is expected to grow at the highest CAGR of 18.5% from 2019 to 2026. This is due to increase in incidence of breast cancer and growing R&D activities for targeted drugs. The research also analyzes neurology and other segments.

North America to continue its lead status by 2026

North America contributed the largest share in terms of revenue, accounting for more than two-fifths of the total share in 2018, and is estimated to continue its lead status by 2026. This is due to high demand for advanced diagnostic techniques, increase in availability of trained medical professionals, and surge in number of research activities for developing new therapeutics. Asia-Pacific is estimated to grow at the highest CAGR of 20.4% from 2019 to 2026, owing to its high population base, increase in incidence of cancer, surge in awareness about companion diagnostics, and rise in demand for advanced medical diagnostics systems.

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Leading market players analyzed in the research include Abbott Laboratories Molecular, Inc., ARUP Laboratories, Inc., Agilent (Dako Denmark A/S), Danaher Corporation (Leica Microsystems), BioMerieux SA, Myriad Genetics, Inc., Foundation Medicine, Inc., Roche (Ventana Medical Systems, Inc.), Qiagen N.V., and Thermo Fisher Scientific (Life Technologies Corporation).

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.


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