Companion Diagnostics Market Size, Share, Growth Report 2032

Companion Diagnostics Market

Companion Diagnostics Market By Disease (gastric cancer, colorectal cancer, melanoma cancer, genital cancer, breast cancer, lung cancer, and others), By Indications (inflammation, cardiovascular, virology, central nervous system, and oncology) And By Region: - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts, 2024-2032

Category: Medical Device Report Format : PDF Report Code: ZMR-1127 Status : Upcoming
Market Size in 2023 Market Forecast in 2032 Growth Rate (in %) Base Year
USD 6.24 Billion USD 22.09 Billion CAGR at 15.08% 2023

Description

Global Companion Diagnostics Market: Insights

According to the report published by Zion Market Research, the global Companion Diagnostics Market size was valued at USD 6.24 Billion in 2023 and is predicted to reach USD 22.09 Billion? by the end of 2032. The market is expected to grow with a CAGR of 15.08% during the forecast period. The report analyzes the global Companion Diagnostics Market ’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Companion Diagnostics Market industry.

Global Companion Diagnostics Market SizeRequest Free Sample

Global Companion Diagnostics Market: Overview

A diagnostic test used as an associate to the therapeutic drug in order to determine its usefulness to the patient is known as companion diagnostics. This technology is useful for improving therapeutic treatment available based on the individual. Companion diagnostics integrate pharmacogenomic information that will assist to make most optimal treatment decision possible for the patient. Companion diagnostic is an in-vitro medical device that is used to provide information necessary for effective and safe use of the corresponding drug.

It will help healthcare professionals to determine whether therapeutic products benefit to patients or cause any side effects. It is gaining importance in the drug discovery and personalized treatment medicine. Companion diagnostic is also used to determine patient personal molecular profile to decide which therapy is useful for the patient. Companion diagnostics test finds the presence of a biomarker in the patient and its presence and absence will determine whether a patient will respond to the treatment or not.

Global Companion Diagnostics Market: Growth Factors

Escalating growth in the global companion diagnostics market is mainly due to technological development in the medical devices for the treatment and diagnosis of the patients. Increasing prevalence of diseases such as cancer & HIV is anticipated to foster the global market growth as it helps in determining patient-specific dose and drugs. Rising awareness among patients and physicians regarding drug toxicity is positively enhancing the global companion diagnostics market. Increasing population in the developing countries is expected to propel the global market growth. However, the major challenges before the global market are the lack of skilled professionals, lack of awareness about companion diagnostics, and logistic issues raised in order to develop drug and companion diagnostics together, which may hinder the global companion diagnostics market growth.

Key Insights

  • As per the analysis shared by our research analyst, the global Companion Diagnostics Market is estimated to grow annually at a CAGR of around 15.08% over the forecast period (2024-2032).
  • In terms of revenue, the global Companion Diagnostics Market size was valued at around USD 6.24 Billion in 2023 and is projected to reach USD 22.09 Billion by 2032.
  • Based on the disease, the cancer is the leading disease segment in the companion diagnostics market. This dominance is driven by the increasing global incidence of cancer and the expanding role of companion diagnostics in personalized cancer treatments. Biomarkers play a crucial role in cancer diagnosis, and advancements in molecular-level diagnostics have further propelled this segment's growth. 
  • Based on the indications the oncology holds the largest market share. The growing prevalence of various cancers and the emphasis on personalized medicine have led to increased demand for companion diagnostics in oncology. These diagnostics aid in identifying appropriate targeted therapies, thereby improving treatment outcomes for cancer patients.
  • Based on the region, North America leads the global companion diagnostics market, primarily due to its advanced healthcare infrastructure, substantial healthcare expenditure, and a robust regulatory framework that expedites approvals for new diagnostic technologies. In 2024, North America accounted for a significant market share, reflecting its dominance in this sector. ​

Companion Diagnostics Market : Report Scope

Report Attributes Report Details
Report Name Companion Diagnostics Market Research Report
Market Size in 2023 USD 6.24 Billion
Market Forecast in 2032 USD 22.09 Billion
Growth Rate CAGR of 15.08%
Number of Pages 185
Key Companies Covered Myriad Genetics, Qiagen, Life Technologies, Abbott, Thermo Fischer Scientific, and Genomic Health. Other players influencing the global market are Roche Holdings, Protagen Diagnostics, Amgen, Agilent Technologies, Myriad Genetics, and Sysmex.
Segments Covered By Disease, By Indications, and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2023
Historical Year 2018 to 2022
Forecast Year 2024 - 2032
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Global Companion Diagnostics Market: Segmentation

Companion Diagnostics MarketRequest Free Sample

The global companion diagnostics market is segmented into its disease, indication and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

Based on the disease as gastric cancer, colorectal cancer, melanoma cancer, genital cancer, breast cancer, lung cancer, and others.

On the basis of indications, the global market is segmented as inflammation, cardiovascular, virology, central nervous system, and oncology. Of these, oncology is the largest revenue-generating segment in the global companion diagnostics market.

The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Global Companion Diagnostics Market: Regional Analysis

The North American region, particularly the United States, dominates the companion diagnostics (CDx) market, holding the largest revenue share as of recent reports. This dominance is driven by advanced healthcare infrastructure, strong regulatory support from the FDA, high adoption of precision medicine, and significant investments in oncology and personalized therapies. The U.S. accounts for a major portion of global CDx sales due to the presence of key market players like Roche, Abbott, and Thermo Fisher Scientific, along with increasing collaborations between pharmaceutical and diagnostic companies. Additionally, favorable reimbursement policies and a rising number of FDA-approved companion diagnostics further solidify North America's leading position. Europe follows as the second-largest market, supported by EMA approvals and growing cancer research, while the Asia-Pacific region is expected to witness the fastest growth due to expanding healthcare access and increasing R&D investments.

Global Companion Diagnostics Market: Competitive Players

Major players denominating the global companion diagnostics market growth are:

  • Myriad Genetics
  • Qiagen
  • Life Technologies
  • Abbott
  • Thermo Fischer Scientific
  • Genomic Health.

Other players influencing the global market are:

  • Roche Holdings
  • Protagen Diagnostics
  • Amgen
  • Agilent Technologies
  • Myriad Genetics
  • Sysmex.

The Global Companion Diagnostics Market is segmented as follows:

By Disease 

  • Gastric Cancer 
  • Colorectal Cancer 
  • Melanoma Cancer 
  • Genital Cancer 
  • Breast Cancer 
  • Lung Cancer 
  • And Others 

By Indications 

  • Inflammation 
  • Cardiovascular 
  • Virology 
  • Central Nervous System 
  • Oncology 

Global Companion Diagnostics Market: Regional Segment Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

What Report Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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FrequentlyAsked Questions

A diagnostic test used as an associate to the therapeutic drug in order to determine its usefulness to the patient is known as companion diagnostics. This technology is useful for improving therapeutic treatment available based on the individual. Companion diagnostics integrate pharmacogenomic information that will assist to make most optimal treatment decision possible for the patient. Companion diagnostic is an in-vitro medical device that is used to provide information necessary for effective and safe use of the corresponding drug.

The Companion Diagnostics Market was valued at USD 6.24 Billion in 2023.

The Companion Diagnostics Market is expected to reach USD 22.09 Billion by 2032, growing at a CAGR of of 15.08% between 2024 to 2032.

Escalating growth in the global companion diagnostics market is mainly due to technological development in the medical devices for the treatment and diagnosis of the patients. Increasing prevalence of diseases such as cancer & HIV is anticipated to foster the global market growth as it helps in determining patient-specific dose and drugs. Rising awareness among patients and physicians regarding drug toxicity is positively enhancing the global companion diagnostics market. Increasing population in the developing countries is expected to propel the global market growth. However, the major challenges before the global market are the lack of skilled professionals, lack of awareness about companion diagnostics, and logistic issues raised in order to develop drug and companion diagnostics together, which may hinder the global companion diagnostics market growth.

Companion Diagnostics Market players such as Myriad Genetics, Qiagen, Life Technologies, Abbott, Thermo Fischer Scientific, and Genomic Health. Other players influencing the global market are Roche Holdings, Protagen Diagnostics, Amgen, Agilent Technologies, Myriad Genetics, and Sysmex.

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