Companion Diagnostics Market | Growth and Analysis
Market Growth and Forecasts for 2021-2025

The companion diagnostics market and it is expected to grow by $ 8.37 bn, decelerating at a CAGR of almost 26.41% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers to enable growth projections and insights. This analytical examination of the market will enable businesses to plan and set the path for future growth prospects.


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Companion Diagnostics Market: Market Segments and Key Trends

The Companion diagnostics market is segmented by End-user (Life science, Health centers, and Others) and Geography (North America, Europe, Asia, and ROW). North America led the market with 33% of the market growth set to originate from this region during the forecast period. Limited sustainability of smaller vendors is one of the challenges that will need to be overcome to drive growth. The research report provides market share projections of each segment along with a detailed analysis of all the factors that are likely to boost growth within specific regions as well as global markets.

Companion Diagnostics Market: Top Drivers to Boost Demand

The Rising use of personalized medicine is one of the primary factors driving the growth of the companion diagnostics market. The report provides a detailed study of all the factors that are likely to boost the market. An understanding of the key drivers will enable clients to leverage growth opportunities to their advantage with a view to short-term and long-term business goals.

Companion Diagnostics Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2021-2025

Companion Diagnostics Market: Vendor Analysis

The market is fragmented. The research report provides insights into the top market player and their product portfolio along with pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Abbott Laboratories, Agilent Technologies Inc., bioMerieux SA, F. Hoffmann-La Roche Ltd., Illumina Inc., Myriad Genetics Inc., QIAGEN NV, Siemens Healthineers AG, Sysmex Corp., and Thermo Fisher Scientific Inc. are some of the major market participants.

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Companion Diagnostics Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive companion diagnostics market growth during the next five years
  • Precise estimation of the companion diagnostics market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the companion diagnostics market industry across North America, Europe, Asia, and ROW
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of companion diagnostics market vendors

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is decelerate at a CAGR of over 26.41%.

     
  2. What is the incremental growth of the market?
    The market is expected to grow by $ 8.37 bn through 2021-2025.

     
  3. What is a key factor driving this market?
    Rising use of personalized medicine will drive market growth over the forecast period.

     
  4. What are the key regions covered in this market research report?
    North America, Europe, Asia, and ROW are the key regions featured in this research report.

     
  5. Which is the leading geographic region for this market:
    33% growth will originate from North America

     
  6. Who are the leading market vendors?
    The leading vendors in this market are Abbott Laboratories, Agilent Technologies Inc., bioMerieux SA, F. Hoffmann-La Roche Ltd., Illumina Inc., Myriad Genetics Inc., QIAGEN NV, Siemens Healthineers AG, Sysmex Corp., and Thermo Fisher Scientific Inc.

     
  7. What are the market segments covered in this report?
    The market is segmented by End-user (Life science, Health centers, and Others) and Geography (North America, Europe, Asia, and ROW)

Companion Diagnostics Market Size to Grow by $ 5.74 bn through 2020-2024  

Technavio research projects the companion diagnostics market to grow by $ 5.74 bn, accelerating at a CAGR of over 26% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report

Companion Diagnostics Market: Key Market Driver

One of the primary factors that will trigger the growth of the companion diagnostics market size is Rising use of personalized medicine. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.

Companion Diagnostics Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2021-2025

Companion Diagnostics Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Abbott Laboratories, Agilent Technologies Inc., bioMérieux SA, F. Hoffmann-La Roche Ltd., Illumina Inc., Myriad Genetics Inc., QIAGEN NV, Siemens Healthineers AG, Sysmex Corp., and Thermo Fisher Scientific Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.

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Technavio has been monitoring the global Companion Diagnostics Market is expected to grow by USD 5.74 billion progressing at a CAGR of over 26% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report

Companion Diagnostics Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2021-2025

Companion Diagnostics Market: North America Will Drive Market Growth

The US is a key market for companion diagnostics in North America. 37% of the market growth will originate from North America during the forecast period. The increasing focus of pharmaceutical companies and medical device manufacturers on drug discovery and device development is one of the prime factors that will facilitate the companion diagnostics market growth in North America over the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the companion diagnostics market size.

The increasing use of personalized medicine is one of the key factors driving the growth of the global companion diagnostics market. Personalized medicine is a multi-faceted method of patient care that improves the capacity of diagnosing and treating diseases. The fact that personalized medicines also increase the quality of clinical practice owing to their targeted care pathways and reduces the overall cost of healthcare makes them a viable choice for companion diagnostics market growth. 

The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. 

Companion Diagnostics Market: Vendor Analysis

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Abbott Laboratories, Agilent Technologies Inc., bioMérieux SA, F. Hoffmann-La Roche Ltd., Illumina Inc., Myriad Genetics Inc., QIAGEN NV, Siemens Healthineers AG, Sysmex Corp., and Thermo Fisher Scientific Inc.are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report 

Companion Diagnostics Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive Companion Diagnostics Market growth during the next five years
  • Precise estimation of the Companion Diagnostics Market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the companion diagnostics industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of Companion Diagnostics Market vendors
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