Pune, India -- (SBWIRE) -- 01/14/2020 -- The latest report on "Companion Diagnostics Market (Technology - Polymerase Chain Reaction, In Situ Hybridization, Immunohistochemistry, Next-generation Sequencing, and Other Technologies; Indications - Lung Cancer, Breast Cancer, Colorectal Cancer, Leukemia, Melanoma, and Other Indications; End-users - Pharmaceutical, Biopharmaceutical Companies, Reference Laboratories, and Other End-users): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025." The global companion diagnostics market is projected to grow at a CAGR of 19.30% over the forecast period of 2019-2025.

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Companion Diagnostics Market: Industry Insight

Companion diagnostics is an in vitro device that provides information necessary for the safe and effective use of a corresponding drug or biological product. It helps the doctors and healthcare professionals to select the treatment that should be given to patients personalized to their necessity. It helps to avoid adverse drug reactions to the patients who are at increased risk for serious side effects from certain medicines.

Companion Diagnostics Market: Drivers and Restraints

Increasing occurrences of cancer across the globe is one of the primary growth factors of the companion diagnostics market. Factors such as increasing demand for personalized medicines and the increasing number of diagnostics centers in both the developed and developing economies are also driving the market growth. However, the lack of professionals to conduct diagnostics tests restrains the growth of the companion diagnostics market. The increasing number of clinical trials to increase the adoption of companion diagnostics can provide an opportunity for the market players.

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Companion Diagnostics Market: Segmentation

The companion diagnostics market is segmented on the basis of technology, indications, and end-users. On the basis of technology, the market is segmented into a polymerase chain reaction, in situ hybridization, immunohistochemistry, next-generation sequencing, and other technologies. The polymerase chain reaction (PCR) segment accounted for the largest share of this market due to its ease of use and to the fact that it does not require many samples for biomarker identification. On the basis of indications, the market is segmented into lung cancer, breast cancer, colorectal cancer, leukemia, melanoma, and other indications. On the basis of end-users, the market is segmented into pharmaceutical, biopharmaceutical companies, reference laboratories, and other end-users.

Companion Diagnostics Market: Regional Insight

Among the geographic regions, North America dominates the global companion diagnostics market Owing to technological advancement in neurology and infectious disease. The Asia Pacific is anticipated to grow with the highest CAGR in the forecasted period owing to the increasing number of hospitals and diagnostics laboratories and the growing aging population in this region.

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Companion Diagnostics Market: Competitive Analysis

Some of the industry participants of the global companion diagnostics market are Abbott Laboratories Inc., Roche Holding AG, Agilent Technologies Inc., Biomerieux SA, QIAGEN N.V., Siemens Healthcare Private Limited, Thermo Fisher Scientific Inc., Danaher Corporation, Myriad Genetics Inc., and Genomic Health, Inc. among the others. In April 2017, Abbott acquired Alere Inc. for the price of $5.3 billion. Alere Inc. was a global manufacturer of point of care diagnostic tests. It is focused on the areas of infectious disease, molecular, cardiometabolic and toxicology.

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=> Comprehensive analysis of global as well as regional markets of the companion diagnostics.

=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.

=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.  

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.