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The report titled “Companion Diagnostics Market -Forecast to 2022″ is a direct appreciation by Market Research Future of the market potential of the Companion Diagnostics Market. The report intends to provide accurate and meaningful insights, both quantitative as well as qualitative. It can be said with high confidence level, that this report will satisfy the need for comprehensive insights needed to compete and beat other players in today’s winner takes all market!
Global Companion Diagnostics Market – Key Players:
Dako (Denmark), Qiagen (Germany), f. Hoffmann-la Roche ltd (Switzerland), Abbott Laboratories, Inc. (US), Ventana Medical Systems, Inc. (US), Agilent Technologies (US), Resonance Health (Australia) and others are some of the major players in the Global Companion Diagnostics Market.
Global Companion Diagnostics Market – Overview:
Companion Diagnostics are the tests and tools that are used to determine the effect of drug molecule on the patients and also the potential patients who can be benefited by a specific treatment. The use of companion diagnostic treatments is an exciting field of medical development. The potential value of companion diagnostics for patients is safer treatment with improved outcomes. The focus of medicine has always been the wellbeing of the individual patient but with medicine becoming an increasing burden on taxpayers, reducing the cost of that quality care is now of prime importance. Companion diagnostics offer an innovative way to achieve a better quality of care at a reduced price.
The global companion diagnostics market is a rapidly growing market. Companion diagnostics is a part of the in-vitro diagnostics and involves the methods and techniques that are used for the detection of the viability and safety of the drug components for the specific patients. Further some of the major factors that have been important in the growth of the companion diagnostics market are increasing costs of the drug discovery and development, rising need for the assessment of the efficacy and safety of the drugs, distressed need for the specific medication for rare and chronic disorders, and technological advancements in the companion diagnostics devices industry. Furthermore, there are some factors such as lack of responsiveness about the companion diagnostic methods and poor healthcare infrastructure in the developing countries. These factors can hinder the growth of the companion diagnostics market in the near future.
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Development and Drug discovery is a long and tedious process. Drug discovery for any specific target takes a lot of research and trial and error procedures in order to shortlist the potential molecules that can act on the disease. Many a time, the drug discovery can get extended up to 10-15 years and even then there is no surety of the effectiveness of the drug for the specific target. For this trial and error methods, a lot of resources and money is consumed. Current escalating costs of drug discovery, development and drug launch continue to concern the pharmaceutical sector. Companion diagnostic tools performance an essential role in the shortening the process of the drug discovery. Companion diagnostics as the name itself suggests, a companion method or the specific method for the screening of the drug molecules for the better results and more efficacy of the drugs which ultimately reduces the research procedure and the cost of the drug discovery. Companion diagnostics have been crucial in the drug discovery and drug development for the various cancers.
The major success that companion diagnostics has got so far is in the field of oncology. Out of all the FDA approved companion diagnostic test, most of them are for the cancer. Numerous drug diagnostic co-development projects have formerly been completed successfully. The use of several targeted cancer drugs in the clinic are now directed by companion diagnostics (CDx). Having said that, there is still a limited growth in the companion diagnostic for infectious diseases and other chronic diseases. Companies are getting involved for the testing of the drugs for the treatment of various disorders creating wide chances for the companion diagnostics market to grow. Moreover, many of the underdeveloped and developing nations are still unaware about the importance of the CDx or due to the affordability issues in such countries, people are not being able to take benefits. The CDx service providers can make the most of this opportunity by expanding their business in such regions which can boost the growth of the market.
What makes our report unique?
1) An extensive research study on the Global Companion Diagnostics market, and its entire ecosystem, describes the market trends, drivers, restraints and opportunities of the Companion Diagnostics market.
2) We provide you the longest possible market segmentation based on type of products, procedures and geography and describe the market share region wise.
3) The report gives a bird eyes view on the competitive landscape which includes mergers and acquisitions, collaborations, market strategies, and new product launches.
Global Companion Diagnostics Market – Competitive Analysis:
The global companion diagnostics market consists of number of large and small-scale companies which are involved in the development of companion diagnostic tools and test. However, there are limited number of tests, 11 to be precise are approved by the Food & Drug Administration, USA. The global Companion diagnostic market is majorly dominated by 5 companies namely Abbott Diagnostics, Agilent Technologies, F. Hoffmann-La Roche AG, Qiagen N.V., and Thermo Fisher Scientific. These Companies together hold more than 80% of the market share. Apart from these, there are number of other companies such as Myriad Genetics, ARUP Laboratories, and Resonance Health among others.
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