Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Oncology Companion Diagnostic Market Size, Share & Trends Analysis Report By Product & Service, By Technology (IHC, NGS), By Disease Type (Breast Cancer, Leukemia), By End Use, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global oncology companion diagnostic (CDx) market is poised for substantial growth, with projections estimating a market size of USD 8.2 billion by 2030, marking a Compound Annual Growth Rate (CAGR) of 12.9% from 2023 to 2030. A newly added in-depth analysis report on this burgeoning market encapsulates comprehensive data, highlighting key trends, market drivers, and regional growth dynamics, indispensable for stakeholders in the healthcare and pharmaceutical sectors.
With the integration of immunohistochemistry (IHC), next-generation sequencing (NGS), and other advanced technologies, the report underscores the increasing reliance on CDx tools. These diagnostic solutions empower clinicians with actionable genomic insights, which are critical in tailoring personalized therapeutic regimens for various cancer types, including breast cancer, leukemia, and non-small cell lung cancer (NSCLC).
Market Report Highlights include:
- The product & service segment's overwhelming share in the market, driven by the surging adoption and usage rate of CDx tests.
- An uptick in the approval rate of CDx tests, paralleled by a rise in investments for co-development of drugs and companion diagnostics.
- The preeminence of consumables within the product category, attributable to their recurrent usage in performing CDx assays.
Technology Impact and Disease-Type Focus
The report details how the immunohistochemistry (IHC) technology segment dominates the market, fueled by cost-effectiveness, compatibility with small tumor samples, and vast adoption in routine oncology CDx testing. The extensive portfolio of FDA-approved IHC-based assays bolsters this segment's influential position in the market landscape.
- NSCLC remains at the forefront of disease-type segments, a reflection of its prevalence, accounting for roughly 80% of all lung cancer cases.
- Substantial growth is projected for both breast cancer and leukemia segments, aligned with the anticipated rise in the global cancer burden.
The report further details how end-use segments, particularly hospitals, contribute significantly to the market share, a testament to the high volume of cancer diagnostic tests performed in these settings. Geographical analysis indicates that North America continues to lead the market due to an abundance of industry players and FDA-approved CDx products.
Promising trends in the Asia Pacific region are also explored, with advancements in healthcare technology and enhanced economic conditions expected to catalyze market performance. Additionally, active communities engaged in genetic biomarker discovery and monitoring within Asian countries are set to positively impact the oncology companion diagnostic market.
This thorough market analysis is a vital resource, offering a lens into the progress and trajectory of oncology companion diagnostics. As this sector continues to evolve in response to scientific advancements and the growing demand for precision medicine, the comprehensive report serves as an instrumental guide for decision-makers and investors navigating this dynamic field.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 183 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $3.1 Billion |
| Forecasted Market Value (USD) by 2030 | $8.2 Billion |
| Compound Annual Growth Rate | 12.9% |
| Regions Covered | Global |
Companies Mentioned
- 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.
For more information about this report visit https://www.researchandmarkets.com/r/u4dhcy
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