Dublin, March 10, 2023 (GLOBE NEWSWIRE) -- The "Companion Diagnostics: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Companion Diagnostics Market to Reach $13.8 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Companion Diagnostics estimated at US$7.9 Billion in the year 2022, is projected to reach a revised size of US$13.8 Billion by 2030, growing at a CAGR of 7.2% over the analysis period 2022-2030. Assay kits & Reagents, one of the segments analyzed in the report, is projected to record 6.3% CAGR and reach US$8.7 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Software & Services segment is readjusted to a revised 9.1% CAGR for the next 8-year period.
The U.S. Market is Estimated at $2.3 Billion, While China is Forecast to Grow at 6.7% CAGR
The Companion Diagnostics market in the U.S. is estimated at US$2.3 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.4 Billion by the year 2030 trailing a CAGR of 6.7% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.8% and 4.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 2.3% CAGR.
Select Competitors (Total 47 Featured) -
- Abbott Molecular
- Agilent Technologies, Inc.
- bioMerieux SA
- Cepheid
- Danaher Corporation
- F. Hoffmann-La Roche Ltd.
- Foundation Medicine Inc.
- Laboratory Corporation of America Holdings
- Leica Biosystems Nussloch GmbH
- Merck & Co. Inc.
- Myriad Genetics Inc.
- NeoGenomics Laboratories, Inc.
- QIAGEN N.V.
- Quest Diagnostics Inc.
- Thermo Fischer Scientific Inc.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 196 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value (USD) in 2020 | $8 Billion |
| Forecasted Market Value (USD) by 2027 | $19.5 Billion |
| Compound Annual Growth Rate | 13.6% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Companion Diagnostics: An Introductory Prelude
- Quashing the One-Size-Fits-All Approach, CDx Wield Great Promise for Streamlined Drug Discovery & Development
- Broader Scope and Applications Rev Up Growth Opportunities
- Healthy Growth Projected over the Next Few Years
- Developed Regions: Key Revenue Contributors
- Market Witnesses Fast Paced Growth in Developing Regions
- Northbound Trajectory in R&D Spending Creates Conducive Environment
- Prevailing Economic Scenario Favors Funding Pattern
- Companion Diagnostics - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Growing Significance of Personalized Medicine Remains a Major Market Driver
- Emphasis on Improving Targeted Therapies with CDx Tests Steers Momentum
- Herceptin Lays the Road for Companion Diagnostics
- Oncology - Dominant Therapy Area for CDx
- Rising Incidence of Cancer Propels the Need for CDx Tests
- Technology Advancements to Widen CDx Use Case
- PCR: Dominant Technology Type for CDx Testing
- Next-Generation Sequencing (NGS) Gains Widespread Traction in CDx Testing
- Significant Role of Biomarkers in Companion Diagnostics
- Critical Healthcare Needs of Aging Population Underpin CDx Sales
- Regulatory Scenario Favors CDx Market
- Resolving Prevailing Challenges: Critical for Future Growth of CDx Market
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
A selection of companies mentioned in this report includes
- Abbott Molecular
- Agilent Technologies, Inc.
- bioMerieux SA
- Cepheid
- Danaher Corporation
- F. Hoffmann-La Roche Ltd.
- Foundation Medicine Inc.
- Laboratory Corporation of America Holdings
- Leica Biosystems Nussloch GmbH
- Merck & Co. Inc.
- Myriad Genetics Inc.
- NeoGenomics Laboratories, Inc.
- QIAGEN N.V.
- Quest Diagnostics Inc.
- Thermo Fischer Scientific Inc.
For more information about this report visit https://www.researchandmarkets.com/r/2pu67i
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