Companion Diagnostics Market Challenges

The study is inclusive of a profound analysis of this business sphere focuses on the overall remuneration of the market over the projected period. The study also includes significant information pertinent to the Companion Diagnostics industry, particularly the current COVID-19 scenario

Companion diagnostics are developed along with the drug and used to check its effectiveness as well as the adverse reactions associated with them. Furthermore, alternative screening measures provide for tracking opioid reactions during the full duration of therapy. They often have links to the molecular, proteomic, and metabolomic details of organisms, resulting in better tests. The benefits mentioned above of co-development in the field of drug diagnostics would improve consumer demand for companion diagnostics.

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Further key findings

• Based on technology, genetic sequencing generated a revenue of USD 0.47 billion in 2019. It projected to rise with a CAGR of 17.6% in the forecast period due to the highly technological sequencing methods that allow the detection of mutations, fusions, alterations in copy numbers, tumor mutation burden, microsatellite instability, etc.
• The skin cancer disease indication expected to grow with a CAGR of 18.1% in the forecasted period attributable to the increasing skin cancer incidence due to medication side effects and prolonged sensitivity to toxic sun rays are helping doctors to manage patients with skin cancer.

• Key participants include Agilent Technologies, Foundation Medicine, Myriad Genetic Laboratories, Thermo Fisher Scientific, Johnson & Johnson, Arup Laboratories, Abbott, MolecularMD, BioMérieux, and Illumina, among others.

For the purpose of this report, Emergen Research has segmented into the global Companion Diagnostics Market based on the technology, disease indication, application, and region:

• Technology Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
  • Immunohistochemistry
  • In Situ Hybridization
  • Polymerase Chain Reaction
  • Genetic Sequencing

• Disease Indication Outlook (Volume, Kilotons; 2017-2027, Revenue, USD Billion; 2017-2027)
  • Breast Cancer
  • Lung Cancer
  • Colorectal Cancer
  • Skin Cancer

• Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
  • Hospitals
  • Diagnostic Laboratories

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Global Companion Diagnostics Market Geographical Landscape - Synopsis:

• The report closely studies the growth trajectory of the global Companion Diagnostics market. It brings to light the global dominance of the leading regional segments, including North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
• The study elaborates on the crucial information pertaining to the regional market share. It simultaneously focuses on the significant details about the growth patterns of each regional market.
• Moreover, the report encases an exhaustive geographical study of the market, emphasizing the business growth prospects and market barriers for each of the key market regions.

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