DUBLIN, Dec. 03, 2014 /PRNewswire/ -- Research and Markets has announced the addition of the "Global Companion Diagnostic Technologies Market (Indication and Geography) - Size, Share, Global Trends, Company Profiles, Demand, Insights, Analysis, Research, Report, Opportunities, Segmentation and Forecast, 2013 - 2020" report to their offering.
According to this new research report titled "Global Companion Diagnostic Market (Indications, Technologies and Geography) - Industry Analysis, Trends, Share, Opportunities and Forecast, 2013 - 2020", the global companion diagnostic market is expected to reach $3.5 billion by 2020, and it would grow at a CAGR of 20% from 2014 to 2020. North America was the highest revenue generating region in 2013 and would continue to dominate the market through 2020. Furthermore, LAMEA (Latin America, Middle East and Africa) is expected to be the fastest growing market at a CAGR of 22.7% during the forecast period.
Companion diagnostic (CD) is an in-vitro diagnostic technique that provides information about therapeutic responses of patient to a specific treatment. Companion diagnostics helps in identification of patients who would benefit from the treatment using certain therapeutic product which would result in improved treatment outcomes and decrease expenditure on healthcare. In addition, CD also helps in identifying the patient pool that is most likely to respond to the therapeutic treatment; therefore, rules out therapies that would be ineffective. Additionally, it also saves patients from adverse side effects due to ineffective therapies, leading to reduced cost.
Rising incidence of cancer, increasing adverse reactions due to drugs and personalized treatment approach is pushing R&D efforts to focus on development of targeted therapies. Technological advancement and discovery of new biomarkers is also driving growth of this market. However, coordinating the development of companion diagnostics and therapeutic products is a challenge for this market. Nevertheless, the increasing incidences of cancer, cardiovascular conditions, central nervous system conditions has resulted in significant investments in research and development of targeted therapies, which would need corresponding companion diagnostics and would be an opportunity for growth of this market.
Companion diagnostics market by indication is segmented into oncology, cardiovascular, CNS, autoimmune & inflammation, virology and others. Presently, majority of the companion diagnostics have been developed for cancer and thus, it is the major revenue generating segment in the overall CD indication market. Companion diagnostics have been developed for breast cancer, lung cancer, colorectal cancer, gastric cancer and melanomas.
Companion diagnostics for breast cancer is the highest revenue generator mainly because there has been an increase in the incidences of breast cancer and many companion diagnostics have been developed for detection of the HER/neu biomarker for breast cancer. As of now, companion diagnostics for cardiovascular conditions, central nervous system conditions , inflammation and autoimmune diseases and viral diseases are very few, with a majority still in development stage; however, as more and more biomarkers are being discovered, there would be an increase in development of new companion diagnostics.
Key Topics Covered:
CHAPTER 1. INTRODUCTION
CHAPTER 2. EXECUTIVE SUMMARY
CHAPTER 3. MARKET OVERVIEW
CHAPTER 4. GLOBAL COMPANION DIAGNOSTIC MARKET BY INDICATIONS
CHAPTER 5. GLOBAL COMPANION DIAGNOSTIC MARKET BY TECHNOLOGY
CHAPTER 6. GLOBAL COMPANION DIAGNOSTICS BY GEOGRAPHY
CHAPTER 7. COMPANY PROFILES
- Abbott Laboratories
- Dako (Agilent Technologies)
- Leica Microsystems
- Life Technologies
- Myriad Genetics
- Resonance Health Ltd
- Ventana Medical Systems
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SOURCE Research and Markets