FREMONT, California, September 27, 2018 /PRNewswire/ --
According to a new market intelligence report by BIS Research, titled "Global Companion Diagnostics Market- Analysis and Forecast, 2017-2025", the global companion diagnostics market was estimated as $703.1 million in 2017, and is expected to reach $4.1 billion by 2025. The global companion diagnostics market is expected to grow at a double-digit compound annual growth rate in the forecast period 2018-2025, aided by the impressive growth in the Next Generation Sequencing (NGS) and Polymerase Chain Reaction (PCR) based products.
According to the World Health Organization (WHO), chronic diseases have been responsible for 60% of the deaths worldwide and constitute approximately 43% of the global economic burden of diseases. Further, the contribution of four prominent chronic diseases, which include cancer, cardiovascular diseases (CVD), chronic obstructive pulmonary disease (COPD), and type II diabetes, are anticipated to account for 73% of the deaths and contribute 60% to the global disease burden, by 2020. Acknowledging the criticality of the situation, several healthcare companies have been trying to reduce treatment cost by offering innovative treatment approaches and cost-effective products, based on advanced technologies.
Additionally, several government bodies, across the globe, have been restructuring their regulatory policies and norms to expand the accessibility of advanced, cost-effective healthcare technologies in order to reduce the economic, societal, and clinical burden. Thereby, the emergence of precision medicine approach is perceived to be promising in driving a paradigm shift in the healthcare industry. To make precision medicine a reality, development of biomarker-based precision diagnostics has become an irreplaceable part of the tailored medication approach. These biomarker-based assays, known as companion diagnostics (CDx), not only aid in the parallel drug development but also provide essential information for patient stratification to enable the effective and safe use of the corresponding drug.
According to Pushplata Patel, Analyst at BIS Research, "North America is the leading contributor to the global companion diagnostics market and contributed approximately 52.53% to the global market value in 2017. However, the Asia-Pacific region is expected to grow at an impressive CAGR of 32.06% during the forecast period from 2018 to 2025. In the past, the Asia-Pacific market contributed approximately 12.10% to the total global market value in 2017."
This market intelligence report provides a multi-dimensional view of the global companion diagnostics market in terms of market size and growth potential. This research report aims at answering various aspects of the global companion diagnostics market with the help of key factors driving the market, threats that can possibly inhibit the overall growth of the market growth, along with the current growth opportunities that would possibly give shape to the future trajectory of the overall expansion in the market.
Furthermore, the competitive landscape chapter in the report elucidates present competition in the global market supports the reader by keeping them abreast about the recent market activities, such as product launches and approvals, partnerships, collaborations, business expansions, as well as mergers and acquisitions, among others. The research report provides a comprehensive analysis of the product sales, and manufacturers and trend analysis by segments and growth share analysis by geographical regions.
Key questions answered in the report:
What are the major market drivers, challenges, and opportunities in the global companion diagnostics market?
What are the underlying structures resulting in the emerging trends within the companion diagnostics industry?
What was the market value of the leading segments and sub-segments of the global companion diagnostics systems market in 2017?
How will each segment of the global companion diagnostics market grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2025?
What are the influencing factors that may affect the market share of the key players?
How will the industry evolve during the forecast period 2018- 2025?
What are the key developmental strategies which are being implemented by the key players to sustain in this competitive market?
What are the key technologies in the companion diagnostics market? What are the major benefits of each technology?
How has the market been segmented on the basis of indication? Which indication is dominating the global companion diagnostics market and its reason?
What is the market share of the companies by CDx technologies which include Immunohistochemistry (IHC), In Situ Hybridization (ISH), Next Generation Sequencing (NGS), and Polymerase Chain Reaction (PCR)?
Who are the key manufacturers in the companion diagnostics market and what are their contributions?
What is the scope of each companion diagnostic technology in North America, Europe, and Asia-Pacific?
What are the key regulatory implications in developed and developing regions for companion diagnostics?
What is the growth potential of companion diagnostics in each region?
Which companion diagnostic technology is having the most promising growth and in which indication type?
BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market. With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
What distinguishes BIS Research from the rest of the players is that we don't simply provide data but also complement it with valuable insights and actionable inputs for the success of our clients.
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