Global Companion Diagnostics Market Overview:
A Companion diagnostic is a healing device, often an in-vitro gadget, which gives information that is essential for the powerful and secure usage in evaluating a drug or natural products. The test allows a healthcare professional to discern out if a specific drug is of benefit to patients and exceed any capability of actual symptoms. Those are medical devices support doctors to select which treatment and dosage must be offered to the sufferers based on their necessity. The Global companion diagnostics market is expected to grow from nearly $6.9 billion in 2018 to $31.6 billion in 2023 at a compound annual growth rate (CAGR) of 35.8% for forecasted period 2017 to 2022.
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Drivers and Restraints:
The Global companion diagnostics market is improved through innovation of latest technological development in the healthcare enterprise that resulted in several new treatment strategies. The important drivers for this market are increasing geriatric population of the world, rise in healthcare spending of the patients, growing awareness for a healthy life, increase in the discovery of biomarkers, and co-development of drug and corresponding diagnostics. However, the price related to growing drugs ought to hinder the growth of this market.
Based on geography, the market is analyzed in the areas of North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. Due to technical development and large investment in research & development, North America is dominating the companion diagnostic market. At the same time, Europe and Asia-Pacific are anticipated to witness a rapid growth in the global companion diagnostics market.
Key Players of Global Companion Diagnostics Market:
The leading players of the market include Abbott Molecular Inc., Roche Molecular Systems Inc., Leica Biosystems Nussloch GmbH, bioMérieux Inc., Dako Inc., Qiagen Ltd., ARUP Laboratories, Myriad Genetics Inc., Biogenex Laboratories Inc., Ventana Medical Systems Inc., Thermo Fisher Scientific Inc. and others.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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