Dublin, Nov. 01, 2024 (GLOBE NEWSWIRE) -- The "Europe Companion Diagnostics Market: Focus on Application, End User, Technology, and Country - Analysis and Forecast, 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The Europe companion diagnostics market was valued at $1.11 billion in 2023 and is expected to reach $3.56 billion by 2033, growing at a CAGR of 12.30% between 2023 and 2033
Advances in biomedical imaging, a rise in companion diagnostics product approvals, and the rising prevalence of cancer are driving the companion diagnostics market's expansion in Europe. These elements are major forces behind the region's growing use of companion diagnostics and precision medicine in individualized cancer care.
The growing desire for precision medicine and the rising incidence of cancer are driving the companion diagnostics industry in Europe. Particularly in oncology, companion diagnostics are essential for tailoring treatment regimens by identifying patients who are most likely to benefit from particular medicines. Companion diagnostics is a crucial tool for improving treatment outcomes because the increase in cancer incidence throughout Europe has increased the need for such focused medicines.
New companion diagnostics devices are being actively approved by European regulatory bodies, which is driving the market's growth. The market is expanding due to technological developments in molecular diagnostics, including enhanced biomedical imaging methods and next-generation sequencing (NGS). These developments make it possible to identify biomarkers more precisely, which enables more precisely tailored treatments.
Companion diagnostics are becoming popular not only in oncology but also in other treatment domains as infectious and cardiovascular illnesses. The companion diagnostics market in Europe is anticipated to expand gradually due to rising R&D expenditures and a favorable regulatory framework, expanding the use of customized medicine and boosting patient outcomes throughout the continent.
How can this report add value to an organization?
Product/Innovation Strategy: The Europe companion diagnostics market has been segmented based on various categories, such as technology, application, end user, and country.
Competitive Strategy: The Europe companion diagnostics market is a highly fragmented market, with many smaller and private companies constantly entering the market. Key players in the Europe companion diagnostics market analyzed and profiled in the study involve established players that offer various kinds of products and services.
Key Market Players and Competition Synopsis
- bioMerieux
- F. Hoffmann-La Roche Ltd
- ICON Plc
- QIAGEN N.V.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 73 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $1.11 Billion |
| Forecasted Market Value (USD) by 2033 | $3.56 Billion |
| Compound Annual Growth Rate | 12.3% |
| Regions Covered | Europe |
Key Topics Covered:
1 Markets
1.1 Trends: Current and Future Impact Assessment
1.1.1 Companion Diagnostics Market Trend Analysis
1.1.2 Implementation of Liquid Biopsy-Based Companion Diagnostics
1.1.3 Combining Artificial Intelligence and Companion Diagnostics
1.2 Supply Chain Overview
1.2.1 Value Chain Analysis
1.3 Research and Development Review
1.3.1 Patent Filing Trend (by Country, Year)
1.4 Regulatory Landscape
1.4.1 Legal Requirements and Framework by the FDA
1.4.2 Legal Requirements and Framework by the EMA
1.5 CDx from a Historical Perspective
1.6 Constituents for Companion Diagnostics (CDx) Development
1.7 Companion Diagnostics (CDx): Future Potential
1.8 Market Dynamics Overview
1.8.1 Market Drivers
1.8.1.1 Rising Prevalence of Cancer Cases
1.8.1.2 Increasing Product Approvals in the Field of Companion Diagnostics
1.8.1.3 Advancing Biomedical Imaging as the Driving Force for Precision Medicine's Companion Diagnostics
1.8.2 Market Restraints
1.8.2.1 Uncertain Reimbursement Scenario
1.8.2.2 Stringent Regulatory Approval Processes
1.8.3 Market Opportunities
1.8.3.1 Progress in Companion Diagnostics Driven by Continuous Development and Technological Advancements
1.8.3.2 Introduction of Epigenomics-Based Companion Diagnostics
2 Regions
2.1 Regional Summary
2.2 Drivers and Restraints
2.3 Europe
2.3.1 Regional Overview
2.3.2 Driving Factors for Market Growth
2.3.3 Factors Challenging the Market
2.3.4 Application
2.3.5 Product
2.3.6 France
2.3.7 Application
2.3.8 Product
2.3.9 Germany
2.3.10 Application
2.3.11 Product
2.3.12 U.K.
2.3.13 Application
2.3.14 Product
2.3.15 Spain
2.3.16 Application
2.3.17 Product
2.3.18 Italy
2.3.19 Application
2.3.20 Product
2.3.21 Rest-of-Europe
2.3.22 Application
2.3.23 Product
3 Markets - Competitive Benchmarking & Company Profiles
3.1 Next Frontiers
3.2 Geographic Assessment
3.2.1 Overview
3.2.2 Top Products
3.2.3 Top Competitors
3.2.4 Target Customers
3.2.5 Key Personnel
3.2.6 Analyst View
For more information about this report visit https://www.researchandmarkets.com/r/5rql6d
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