The global Companion Diagnostics Market is expected to generate $5152.064939 million in revenue by 2032, up from $2452.653722 million in 2022, with a CAGR of 7.1% during the forecast period.
Companion diagnostics is used to determine who would benefit from treatment, and the demand for it is increasing as it helps to identify if someone cannot be cured, but can also be harmed by the use of a specific drug used to treat their ailment. Furthermore, the growth of the companion diagnostics market is being propelled by technological advancements, which have brought about significant changes in the overall method of disease treatment.
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Crucial information and forecast statistics covered in the Companion Diagnostics market report will arm both existing and emerging market players with necessary insights to craft long-term strategies as well as maintain business continuity during a crisis such as the ongoing COVID-19 pandemic.
COVID-19 Impact Analysis on Companion Diagnostics Market
The recent outbreak of the COVID-19 has turned the spotlight on the healthcare industry, and subsequently impacted the Companion Diagnostics market. Severe shortages of critical medical supplies and a rapid rise in number of COVID-19 cases have resulted into a revolution rather than evolution in the healthcare ecosystems. Consequently, the impact is noticeable in the Companion Diagnostics market.
Following government’s measures, particularly social distancing norms and stay-at-home orders, doctors are delaying or postponing elective surgeries unless critical to prevent the spread of the virus to individuals with comorbidities or chronic conditions. Additionally, movement restrictions and supply chain disruptions have created a logistical nightmare for market players, leading to severe product shortages in the global marketplace.
The FMI’s report includes an interesting chapter on preliminary impact of the COVID-19 on the Companion Diagnostics market. This allows both leading and emerging market players to understand the market scenario during a crisis and aids them in making sound decisions to gain a distinct competitive edge.
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Companion Diagnostics Market: Segmentation
Valuable information covered in the FMI’s Companion Diagnostics market report has been segregated into key segments and sub-segments.
By Application
- Colorectal Cancer
- Breast Cancer
- Lung Cancer
- Melanoma
- Urology
- Gastric Cancer
By Technology
- Immunohistochemistry
- Molecular Diagnostics
- In-situ Hybridization
- FISH
- CISH
- Real Time PCR
- Gene Sequencing
Companion Diagnostics Market: Competition Analysis
The FMI’s study presents a comprehensive analysis of global, regional, and country-level players active in the Companion Diagnostics market. Competitive information detailed in the Companion Diagnostics market report has been based on innovative product launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation of each market player. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Companion Diagnostics market report.
Key Players Covered in The Report Include:
- ARUP Laboratories,
- Roche Molecular Systems Inc.,
- Dako Inc.,
- Qiagen Ltd.,
- bioMérieux Inc.,
- Ventana Medical Systems Inc.,
- Abbott Molecular Inc.,
Important Questions Answered in the Companion Diagnostics Market Report
- Which end user remains the top revenue contributor in different regional markets?
- At what rate has the global Companion Diagnostics market been expanding during the forecast period?
- How will the global Companion Diagnostics market look like by the end of the forecast period?
- What innovative strategies are adopted by Companion Diagnostics market players to stay ahead of the pack?
- What are the restraints affecting the growth of the global Companion Diagnostics market?
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Key Offerings of the Report
- Growth Drivers and Opportunities: Comprehensive analysis on growth-driving factors and opportunities for market players in different regional markets
- Recent Trends and Forecasts: Detailed assessment on the latest trends, technological developments, and forecasts for a 5-year or 10-year period.
- Segmental Analysis: Extensive analysis on each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
- Regional Market Forecast: Thorough analysis of each regional market to arm stakeholders with necessary information to take critical decisions
- Competitive Landscape: All-inclusive insights on both leading and emerging players vying for a slice of the Companion Diagnostics market
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