Emerging Trends in Companion Diagnostics Market by Types, Revenue, Industry Growth and Forecast 2022

-
A companion diagnostic assay is an in vitro diagnostic device (IVD) that is used to identify whether a patient with certain diseases could be benefitted by a particular drug through the biomarker assessment. The key factors driving the growth of this market include the increasing lung cancer cases, growing number of genetic testing, rising need for personalized medicines, and regulatory guidelines that support the companion diagnostics market. The base year considered for the study is 2016, and the forecast has been provided for the period between 2017 and 2022.
Companion Diagnostics Market

The global companion diagnostics market is expected to reach USD 6.51 billion by 2022 from USD 2.17 billion in 2016, at a CAGR of 20.1%.

Market Dynamics

+ Drivers
+ Improvements in regulatory guidelines
+ Growing need for targeted therapies
+ Rising cancer incidence worldwide
+ Increasing collaborations and partnerships for companion diagnostics test development

Increasing collaborations and partnerships for companion diagnostics test development

Owing to the advantages of companion diagnostics in drug approval processes, an increasing number of pharmaceutical companies have entered into partnerships and collaborations with different companion diagnostic companies to develop and commercialize companion diagnostics tests for their drugs. For instance, in 2016, Agilent Technologies, Inc. and Applied Spectral Imaging (ASI) entered into a marketing agreement. ASI's most advanced GenASIs imaging platforms and Agilent's fluorescence in situ hybridization (FISH) products and solutions will be marketed by them. Simalarly in 2016, QIAGEN collaborated with Array BioPharma to develop and commercialize a companion diagnostic test. The test will be developed for Array BioPharma's binimetinib, an MEK inhibitior.

Download Free PDF - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=155571681

Software and Services

Companion diagnostics software is used to streamline the research and analysis of diagnostic results. Software offers various functions such as the identification of driver vs. passenger mutations, prediction of novel biomarkers, and identification of genes that cause cancer. Companion diagnostic services include the development and commercialization of companion diagnostic (CDx) kits, biomarker assay development, analytical and clinical validation, regulatory registration/approval, cGMP manufacturing, GCP/CLIA certified laboratory, and project management. There are many companies offering end-to-end companion diagnostic services from development to commercialization.

Reimbursement challenges in different regions could limit market growth to a certain extent. Reimbursements for companion diagnostics vary widely across regions and countries. Currently, in most countries, reimbursement is provided only for treatments that offer better clinical results and evidence of performance.

View Complete Press Release - https://www.marketsandmarkets.com/PressReleases/companion-diagnostics.asp

Comments

Post a Comment

If you have any issue, Let me know ?

Popular posts from this blog

Laboratory Balances and Scales Market by Product (Balances (Analytical, Precision, Micro, Portable, Moisture) - Global Forecast to 2023

-
Image
According to the new market research report  " Laboratory Balances and Scales Market  by Product (Balances (Analytical, Precision, Micro, Portable, Moisture), Scales (Bench, Counting, Compact)), End User (Pharmaceutical, Biotechnology, Chemical, Beverage, Petroleum, Academia) - Global Forecast to 2023" , published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the world (RoW). The major factors driving the growth of the laboratory balances and scales market are the technological advancements in laboratory balances and scales; increasing research investments and activities among pharma-biotech companies and CROs; increasingly stringent regulatory framework for product safety in bio-pharmaceutical industries; implementation of stringent food safety guidelines; and emerging markets. Based on product type, the laboratory balances market is segmented into m...
Read more

New Approach towards Technological Advancements in Ligation Devices Market

-
Growth in this market is mainly driven by the increasing prevalence of diseases requiring surgical treatment, especially minimally invasive surgery (MIS). However, the high cost of ligation devices is a major restraint for this market, particularly in emerging countries. Ligation Devices Market Growth The  Global ligation devices market  is projected to reach $1,189 million by 2024 from $876 million in 2019, at a CAGR of 6.3%. Download PDF Brochures –  https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=22007372 Accessories – Ligation Devices The market is segmented into handheld instruments and accessories. The accessories segment accounted for a share of 68.2% in 2018 and is anticipated to grow at a CAGR of 6.9% during the forecast period. This growth can be attributed to the increasing number of surgical procedures, especially in emerging markets. Applications – Ligation Devices The market is segmented into gastrointestinal & abdominal surgeries...
Read more

Medical Holography Market is Future of Healthcare, it is Creating Real Change in the Healthcare Industry

-
According to a new market research report “ Medical Holography Market  by Product (Holographic Display, Microscope, Print, Software), Application (Medical Imaging, Medical Education, Biomedical Research), End User (Medical Schools, Pharmaceutical Companies, Hospitals) – Global Forecast to 2021 ” published by MarketsandMarkets, The Global Medical Holography Market Is Projected to Reach USD 953.9 Million by 2021, at a CAGR of 33.7% from 2016 to 2021. The growth in this market can be mainly attributed to the growing clinical applications of holography in the healthcare sector, rising adoption of holography products in biomedical research and medical education, and emergence of holography as a promising technology in representing complex 3D structures. In this report, the global Medical Holography Market is segmented on the basis of product type, application, end user, and region. Based on product type, the market is segmented into holographic displays, holography microscopes, holo...
Read more