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The Companion Diagnostics Market Size was valued at USD 7.66 billion in 2023 and is projected to reach USD 21.15 billion by 2032, with a growing CAGR of 11.9% over the forecast period 2024-2032.
The market for companion diagnostics is on the rise, and this is observed to be fuelled by the increasing prevalence of cancer globally, particularly the steady growth in demand for personalized medicine. Although the cancer rates continue growing relentlessly, such diagnostics are fast gaining acceptance because of the critical role they play in providing tailored treatment solutions ensuing from individual patient profiles. Advances in biomarker research directly advance precision diagnostics and particularly help oncology through more accurate detection of individual mutations and corresponding therapies.
In addition to the steady increase in the cancer burden, growth is highly supported by the regulatory approval of companion diagnostics across various therapeutic areas. For instance, Thermo Fisher Scientific received U.S. FDA approval for its Oncomine Dx Target Test as a companion diagnostic for HER2 mutations in non-small cell lung cancer in August 2022. Such achievements are expected to improve adoption and further expand use in clinical practice.
Second, co-development partnerships between diagnostic developers and pharmaceuticals have accelerated the speed of commercialization for new companion diagnostic products. Such collaborations are essential to ensure that the introduction of new therapeutics is accompanied by appropriate diagnostics, which in turn drives demand and supply in the market. Continued and increasing awareness of personalized medicine means the development of new tests guarantees the companion diagnostics market will continue to grow at a high speed over the coming year.
| Company | Product Name | Indication | Technology Type | Approval Status (as of Sept 2024) |
|
Roche Diagnostics |
FoundationOne CDx |
Various solid tumors |
NGS |
FDA Approved |
|
Qiagen |
QIAseq |
Gene expression analysis |
NGS |
CE Marked, FDA Approved |
|
Agilent Technologies |
HaloPlex |
Tumor profiling |
Targeted enrichment |
FDA Approved |
|
Illumina |
TruSight |
Cancer genomics |
NGS |
FDA Approved |
|
Myriad Genetics |
BRACAnalysis |
Breast and ovarian cancer |
Genetic testing |
FDA Approved |
Drivers
Advances in Next-Generation Sequencing and Increasing Cancer Prevalence to Drive Market Growth
Advances in technology in Next-Generation Sequencing are offering the impetus to the companion diagnostics market. Next-Generation Sequencing allows testing thousands of genes associated with cancer development which can be tested in a wide range of genes. The results of Next-Generation Sequencing are high throughput and rapid, and continuous improvement in technology is enhancing its clinical applications. According to the CDC, NGS has undergone a transition from research to clinical use in recent times. The leading companies are making available their latest testing technology, and are partnering strategically to help perfect the NGS workflow. For example, last November 2023, QIAGEN partnered with Element Biosciences to develop NGS workflows for the AVITI System, which it said would help reduce costs in genomic research while making it more efficient. Similarly, Illumina, Inc. collaborated with SomaLogic in January 2022 to combine the SomaScan proteomics assay with Illumina's high-throughput NGS platforms.
The rising incidence of cancer is also an important driver for this market growth. The growing cases of cancer across the globe have increased the demand for companion diagnostics because of the extensive knowledge obtained regarding the tumor of a patient and its use in targeted therapy selection. According to a report given out by the American Cancer Society, there were about 1.9 million new cancer diagnoses in the U.S. in 2022; at the same time, the World Health Organization also reported that 2.26 million new breast cancer cases and 2.21 million new lung cancer cases were diagnosed worldwide in that year. The development of new tests, like Guardant360 CDx, has been the result of effective CDx assays. It was recently cleared by the FDA in August 2020 as the first liquid biopsy companion diagnostic using NGS to detect EGFR mutations in metastatic NSCLC.
Expansion into other indications accompanied by clearances of new companion diagnostics is being pushed into the market. Key players are heavily investing in new tests gaining regulatory approvals, thus enhancing adoption of the assays. For instance, Illumina achieved the CE mark for its comprehensive test TruSight Oncology in May 2022 and Agilent Technologies' PD-L1 IHC 22C3 pharmDx assay has been approved for cervical cancer patients as well within the same period. Regulatory approvals continue to increase, such as in the case of the U.S. The VENTANA PD-L1 (SP263) assay for NSCLC has received FDA approval in March 2023. This is likely to fuel the growth of the global companion diagnostics market significantly during the forecast period.
Restraints
Inadequate Reimbursement and Stringent Regulatory Framework Hinder Market Growth
Companion Diagnostics Market By Technology:
Polymerase Chain Reaction dominated the companion diagnostics market with a 23.4% share in 2023 as the technique has significantly been in demand in various clinical disciplines, particularly in cancer diagnostics. Although an expensive technique, Polymerase Chain Reaction is considered the gold standard for precision in the amplification of particular genetic materials, which leads to the identification of causes of mutations and the development of targeted therapies for the treatment of cancer. Both in research and clinical practices, Polymerase Chain Reaction is robust and vibrant enough to be the market leader.
Next-Generation Sequencing is increasingly becoming the fastest-growing technology in companion diagnostics. This can examine tens of thousands of genes in a single experiment and provides an altogether comprehensive understanding of the genomic profiles of any patient, making it revolutionize precision medicine, especially in cancer treatment. Increased adoption of NGS in personalized cancer therapies and its applications in other diseases are driving its exponential growth in the market.
Companion Diagnostics Market By Indication:
Cancer continues to be the leading indication for companion diagnostics with a 35.4% share in 2023, largely because of the massive worldwide disease burden and the burgeoning need for targeted, personalized treatments. In oncology, companion diagnostics is very significant for the guidance of targeted therapies personalized for a patient's specific genetic attributes. The emphasis on precision medicine, coupled with new cancer therapies, continues to place cancer as the market leader in terms of revenue.
The companion diagnostics market's fastest-growing segment is infectious diseases. Growth in this area is being driven by the increasing need for accurate diagnostics to recognize pathogens and facilitate the proper application of antiviral and antimicrobial treatments. The COVID-19 pandemic reinforced the role played by companion diagnostics in controlling infectious diseases, thereby upping the demand for these tests throughout the healthcare spectrum.
Companion Diagnostics Market By End-user:
The pharmaceutical and biopharmaceutical companies are the most prominent in the companion diagnostics market in terms of end-user applications with a 43.2% share in 2023. Pharmaceutical and biopharmaceutical companies are some of the major contributors in terms of developing new drugs and therapies, and companion diagnostics ensure that these treatments are safe and effective. The pharmaceutical company along with the diagnostic manufacturer plays in tandem and hence this segment is dominated.
North America was the leading region in companion diagnostics globally and also accounted for a total revenue of USD 2.94 billion in 2023. This could be because the geographical location of the region, with a higher prevalence of chronic diseases such as cancer, is complemented by the rising uptake of advanced CDx assays. For example, the National Cancer Institute estimated that approximately 1.8 million new cancer cases were diagnosed in the U.S. in 2020, hence creating a high demand for personal diagnostic solutions.
Europe stands as the second largest market in terms of revenues largely attributed to partnerships among pharmaceutical companies and diagnostic manufacturers. Such an example is that of QIAGEN entering into an exclusive collaborative agreement with Denovo Biopharma LLC in December 2021 to establish a blood-based CDx test for those patients who express the Denovo Genomic Marker 1 that helps augment the responses of cancer treatment drugs.
Asia-Pacific would have the highest compound annual growth rate during the forecast period. The growth can be accredited to increased cancer incidences, improvement in healthcare infrastructure, and increased medical device companies there that have introduced innovative diagnostic products. As cited by Janssen Asia Pacific, the region is said to take up 50% of the global share of cancer cases, and the death rate of cancer patients will record an increase of 36% by 2032.
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Abbott
Guardant Health
Thermo Fisher Scientific Inc.
F. Hoffmann-La Roche Ltd.
QIAGEN
Myriad Genetics, Inc.
Invivoscribe, Inc.
ARUP Laboratories and others.
February 2024: F. Hoffmann-La Roche Ltd. formed a partnership with PathAI, and through this collaboration, the company is developing AI-based pathology algorithms in an attempt to drive the development of companion diagnostics capabilities for its drugs.
November 2023: The Chinese-based Amoy Diagnostics Co., Ltd. teamed up with Cell Signaling Technology to boost precision oncology through its launch of companion diagnostics in China.
| Report Attributes | Details |
| Market Size in 2023 | US$ 7.66 billion |
| Market Size by 2032 | US$ 21.15 billion |
| CAGR | CAGR of 11.9% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments |
• By Technology (Polymerase Chain Reaction, Immunohistochemistry, In-situ Hybridization, Next Generation Gene Sequencing, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Abbott, Guardant Health, Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd., Agilent Technologies, Inc., QIAGEN, Myriad Genetics, Inc., Illumina, Inc., BIOMERIEUX, Invivoscribe, Inc., ARUP Laboratories and others. |
| Key Drivers | • Advances in Next-Generation Sequencing and Increasing Cancer Prevalence to Drive Market Growth |
| Market Restraints | • Inadequate Reimbursement and Stringent Regulatory Framework Hinder Market Growth |
Ans: The CAGR Growth rate of Companion Diagnostics Market is approx. CAGR 11.9% for the forecast period of 2024-2032.
Ans: The projected market size of Companion Diagnostics USD 7.66 billion in 2023 and is poised to reach at 21.15 billion in 2032.
Ans: The major key players are Agilent Technologies, Inc., Illumina, Inc., QIAGEN N.V., Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche Ltd., ARUP Laboratories, Abbott, Myriad Genetics, Inc., bioMérieux SA, Invivoscribe, Inc., and others.
Ans: The market will expand due to the rising incidence of cancer globally.
Ans: During the projected period, by product the Assays, Kits & Reagents segment holds the largest share.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Incidence and Prevalence (2023)
5.2 Prescription Trends, (2023), by Region
5.3 Healthcare Spending: Expenditure data by government, insurers, and out-of-pocket by patients.
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and Supply Chain Strategies
6.4.3 Expansion plans and new Product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Companion Diagnostics Market Segmentation, by Technology
7.1 Chapter Overview
7.2 Polymerase Chain Reaction
7.2.1 Polymerase Chain Reaction Market Trends Analysis (2020-2032)
7.2.2 Polymerase Chain Reaction Market Size Estimates and Forecasts to 2032 (USD Billion)
7.3 Immunohistochemistry
7.3.1 Immunohistochemistry Market Trends Analysis (2020-2032)
7.3.2 Immunohistochemistry Market Size Estimates and Forecasts to 2032 (USD Billion)
7.4 In-situ Hybridization
7.4.1 In-situ Hybridization Market Trends Analysis (2020-2032)
7.4.2 In-situ Hybridization Market Size Estimates and Forecasts to 2032 (USD Billion)
7.5 Next Generation Gene Sequencing
7.5.1 Next Generation Gene Sequencing Market Trends Analysis (2020-2032)
7.5.2 Next Generation Gene Sequencing Market Size Estimates and Forecasts to 2032 (USD Billion)
7.6 Others
7.6.1 Others Market Trends Analysis (2020-2032)
7.6.2 Others Market Size Estimates and Forecasts to 2032 (USD Billion)
8. Companion Diagnostics Market Segmentation, by Indication
8.1 Chapter Overview
8.2 Cancer
8.2.1 Cancer Market Trends Analysis (2020-2032)
8.2.2 Cancer Market Size Estimates and Forecasts to 2032 (USD Million)
8.3 Neurological Diseases
8.3.1 Neurological Diseases Market Trends Analysis (2020-2032)
8.3.2 Neurological Diseases Market Size Estimates and Forecasts to 2032 (USD Million)
8.4 Infectious Diseases
8.4.1 Infectious Diseases Market Trends Analysis (2020-2032)
8.4.2 Infectious Diseases Market Size Estimates and Forecasts to 2032 (USD Million)
8.5 Others
8.5.1 Others Market Trends Analysis (2020-2032)
8.5.2 Others Market Size Estimates and Forecasts to 2032 (USD Million)
9. Companion Diagnostics Market Segmentation, by End User
9.1 Chapter Overview
9.2 Pharmaceutical & Biopharmaceutical Companies
9.2.1 Pharmaceutical & Biopharmaceutical Companies Market Trends Analysis (2020-2032)
9.2.2 Pharmaceutical & Biopharmaceutical Companies Market Size Estimates and Forecasts to 2032 (USD Million)
9.3 Reference Laboratories
9.3.1 Reference Laboratories Market Trends Analysis (2020-2032)
9.3.2 Reference Laboratories Market Size Estimates and Forecasts to 2032 (USD Million)
9.4 Contract Research Organizations (CROs)
9.4.1 Contract Research Organizations (CROs) Market Trends Analysis (2020-2032)
9.4.2 Contract Research Organizations (CROs) Market Size Estimates and Forecasts to 2032 (USD Million)
10. Regional Analysis
10.1 Chapter Overview
10.2 North America
10.2.1 Trends Analysis
10.2.2 North America Companion Diagnostics Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
10.2.3 North America Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.2.4 North America Companion Diagnostics Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.2.5 North America Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.2.6 USA
10.2.6.1 USA Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.2.6.2 USA Companion Diagnostics Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.2.6.3 USA Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.2.7 Canada
10.2.7.1 Canada Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.2.7.2 Canada Companion Diagnostics Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.2.7.3 Canada Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.2.8 Mexico
10.2.8.1 Mexico Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.2.8.2 Mexico Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.2.8.3 Mexico Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Trends Analysis
10.3.1.2 Eastern Europe Companion Diagnostics Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
10.3.1.3 Eastern Europe Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.3.1.4 Eastern Europe Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.3.1.5 Eastern Europe Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.3.1.6 Poland
10.3.1.6.1 Poland Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.3.1.6.2 Poland Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.3.1.6.3 Poland Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.3.1.7 Romania
10.3.1.7.1 Romania Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.3.1.7.2 Romania Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.3.1.7.3 Romania Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.3.1.8 Hungary
10.3.1.8.1 Hungary Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.3.1.8.2 Hungary Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.3.1.8.3 Hungary Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.3.1.9 turkey
10.3.1.9.1 Turkey Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.3.1.9.2 Turkey Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.3.1.9.3 Turkey Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.3.1.10 Rest of Eastern Europe
10.3.1.10.1 Rest of Eastern Europe Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.3.1.10.2 Rest of Eastern Europe Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.3.1.10.3 Rest of Eastern Europe Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.3.2 Western Europe
10.3.2.1 Trends Analysis
10.3.2.2 Western Europe Companion Diagnostics Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
10.3.2.3 Western Europe Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.3.2.4 Western Europe Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.3.2.5 Western Europe Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.3.2.6 Germany
10.3.2.6.1 Germany Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.3.2.6.2 Germany Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.3.2.6.3 Germany Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.3.2.7 France
10.3.2.7.1 France Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.3.2.7.2 France Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.3.2.7.3 France Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.3.2.8 UK
10.3.2.8.1 UK Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.3.2.8.2 UK Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.3.2.8.3 UK Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.3.2.9 Italy
10.3.2.9.1 Italy Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.3.2.9.2 Italy Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.3.2.9.3 Italy Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.3.2.10 Spain
10.3.2.10.1 Spain Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.3.2.10.2 Spain Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.3.2.10.3 Spain Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.3.2.11 Netherlands
10.3.2.11.1 Netherlands Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.3.2.11.2 Netherlands Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.3.2.11.3 Netherlands Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.3.2.12 Switzerland
10.3.2.12.1 Switzerland Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.3.2.12.2 Switzerland Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.3.2.12.3 Switzerland Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.3.2.13 Austria
10.3.2.13.1 Austria Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.3.2.13.2 Austria Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.3.2.13.3 Austria Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.3.2.14 Rest of Western Europe
10.3.2.14.1 Rest of Western Europe Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.3.2.14.2 Rest of Western Europe Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.3.2.14.3 Rest of Western Europe Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.4 Asia Pacific
10.4.1 Trends Analysis
10.4.2 Asia Pacific Companion Diagnostics Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
10.4.3 Asia Pacific Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.4.4 Asia Pacific Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.4.5 Asia Pacific Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.4.6 China
10.4.6.1 China Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.4.6.2 China Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.4.6.3 China Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.4.7 India
10.4.7.1 India Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.4.7.2 India Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.4.7.3 India Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.4.8 Japan
10.4.8.1 Japan Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.4.8.2 Japan Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.4.8.3 Japan Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.4.9 South Korea
10.4.9.1 South Korea Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.4.9.2 South Korea Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.4.9.3 South Korea Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.4.10 Vietnam
10.4.10.1 Vietnam Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.4.10.2 Vietnam Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.4.10.3 Vietnam Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.4.11 Singapore
10.4.11.1 Singapore Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.4.11.2 Singapore Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.4.11.3 Singapore Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.4.12 Australia
10.4.12.1 Australia Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.4.12.2 Australia Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.4.12.3 Australia Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.4.13 Rest of Asia Pacific
10.4.13.1 Rest of Asia Pacific Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.4.13.2 Rest of Asia Pacific Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.4.13.3 Rest of Asia Pacific Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.5 Middle East and Africa
10.5.1 Middle East
10.5.1.1 Trends Analysis
10.5.1.2 Middle East Companion Diagnostics Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
10.5.1.3 Middle East Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.5.1.4 Middle East Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.5.1.5 Middle East Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.5.1.6 UAE
10.5.1.6.1 UAE Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.5.1.6.2 UAE Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.5.1.6.3 UAE Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.5.1.7 Egypt
10.5.1.7.1 Egypt Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.5.1.7.2 Egypt Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.5.1.7.3 Egypt Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.5.1.8 Saudi Arabia
10.5.1.8.1 Saudi Arabia Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.5.1.8.2 Saudi Arabia Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.5.1.8.3 Saudi Arabia Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.5.1.9 Qatar
10.5.1.9.1 Qatar Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.5.1.9.2 Qatar Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.5.1.9.3 Qatar Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.5.1.10 Rest of Middle East
10.5.1.10.1 Rest of Middle East Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.5.1.10.2 Rest of Middle East Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.5.1.10.3 Rest of Middle East Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.5.2 Africa
10.5.2.1 Trends Analysis
10.5.2.2 Africa Companion Diagnostics Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
10.5.2.3 Africa Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.5.2.4 Africa Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.5.2.5 Africa Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.5.2.6 South Africa
10.5.2.6.1 South Africa Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.5.2.6.2 South Africa Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.5.2.6.3 South Africa Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.5.2.7 Nigeria
10.5.2.7.1 Nigeria Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.5.2.7.2 Nigeria Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.5.2.7.3 Nigeria Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.5.2.8 Rest of Africa
10.5.2.8.1 Rest of Africa Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.5.2.8.2 Rest of Africa Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.5.2.8.3 Rest of Africa Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.6 Latin America
10.6.1 Trends Analysis
10.6.2 Latin America Companion Diagnostics Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
10.6.3 Latin America Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.6.4 Latin America Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.6.5 Latin America Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.6.6 Brazil
10.6.6.1 Brazil Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.6.6.2 Brazil Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.6.6.3 Brazil Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.6.7 Argentina
10.6.7.1 Argentina Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.6.7.2 Argentina Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.6.7.3 Argentina Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.6.8 Colombia
10.6.8.1 Colombia Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.6.8.2 Colombia Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.6.8.3 Colombia Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
10.6.9 Rest of Latin America
10.6.9.1 Rest of Latin America Companion Diagnostics Market Estimates and Forecasts, by Technology (2020-2032) (USD Million)
10.6.9.2 Rest of Latin America Companion Diagnostics Market Estimates and Forecasts, by Indication(2020-2032) (USD Million)
10.6.9.3 Rest of Latin America Companion Diagnostics Market Estimates and Forecasts, by End User (2020-2032) (USD Million)
11. Company Profiles
11.1 Abbott
11.1.1 Company Overview
11.1.2 Financial
11.1.3 Products/ Services Offered
11.1.4 SWOT Analysis
11.2 Guardant Health
11.2.1 Company Overview
11.2.2 Financial
11.2.3 Products/ Services Offered
11.2.4 SWOT Analysis
11.3 Thermo Fisher Scientific Inc.
11.3.1 Company Overview
11.3.2 Financial
11.3.3 Products/ Services Offered
11.3.4 SWOT Analysis
11.4 F. Hoffmann-La Roche Ltd.
11.4.1 Company Overview
11.4.2 Financial
11.4.3 Products/ Services Offered
11.4.4 SWOT Analysis
11.5 Agilent Technologies, Inc.
11.5.1 Company Overview
11.5.2 Financial
11.5.3 Products/ Services Offered
11.5.4 SWOT Analysis
11.6 QIAGEN
11.6.1 Company Overview
11.6.2 Financial
11.6.3 Products/ Services Offered
11.6.4 SWOT Analysis
11.7 Myriad Genetics, Inc.
11.7.1 Company Overview
11.7.2 Financial
11.7.3 Products/ Services Offered
11.7.4 SWOT Analysis
11.8 Illumina, Inc.
11.8.1 Company Overview
11.8.2 Financial
11.8.3 Products/ Services Offered
11.8.4 SWOT Analysis
11.9 BIOMERIEUX
11.9.1 Company Overview
11.9.2 Financial
11.9.3 Products/ Services Offered
11.9.4 SWOT Analysis
11.10 Invivoscribe, Inc.
11.10.1 Company Overview
11.10.2 Financial
11.10.3 Products/ Services Offered
11.10.4 SWOT Analysis
12. Use Cases and Best Practices
13. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
Key Segmentation
By Technology
Polymerase Chain Reaction
Immunohistochemistry
In-situ Hybridization
Next Generation Gene Sequencing
Others
By Indication
Cancer
Neurological Diseases
Infectious Diseases
Others
By End-user
Pharmaceutical & Biopharmaceutical Companies
Reference Laboratories
Contract Research Organizations (CROs)
Request for Segment Customization as per your Business Requirement: Segment Customization Request
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Request for Country Level Research Report: Country Level Customization Request
Available Customization
With the given market data, SNS Insider offers customization as per the company’s specific needs. The following customization options are available for the report:
Product Analysis
Criss-Cross segment analysis (e.g. Product X Application)
Product Matrix which gives a detailed comparison of the product portfolio of each company
Geographic Analysis
Additional countries in any of the regions
Company Information
Detailed analysis and profiling of additional market players (Up to five)
The Wearable Medical Devices Market size was valued at USD 40.9 Billion in 2023 and is expected to reach USD 102.5 Billion by 2032 and grow at a CAGR of 11.3% over the forecast period 2024-2032.
PET-CT Scanner Device Market was valued at USD 2.30 billion in 2023 and is anticipated to touch USD 3.98 billion by 2032 with a growing CAGR of 6.30%.
The Healthcare Biometrics Market Size was valued at USD 23.05 billion in 2023 and is expected to reach USD 136.02 billion by 2032 and grow at a CAGR of 21.8% over the forecast period 2024-2032.
The Biochips Market was valued at USD 10.35 billion in 2023 and is expected to reach USD 35.00 billion by 2032, growing at a CAGR of 14.52% from 2024 to 2032.
The Precision Diagnostics Market Size was valued at USD 75.87 Billion in 2023 and is expected to reach USD 224.53 Billion by 2032 and grow at a CAGR of 13.50% over the forecast period 2024-2032.
The Cosmetic Surgery Market Size, valued at USD 56.8 billion in 2023, is projected to reach USD 94.5 billion by 2032, growing at a 5.8% CAGR.
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