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| Companion Diagnostics Market |
Companion diagnostics offers a set of tools that facilitates biological and clinical information to the pharmaceutical companies that they have to overcome. Companion diagnostics help physicians to improve the treatment decisions for the patients depending on their response to current treatments. Companion diagnostics approach to medication is transforming the healthcare industry by eliminating unfavorable reactions, improving treatment outcomes, and reducing the cost and time difficulties associated with conventional methods of medication.
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On the basis of technology, the companion diagnostics market can be bifurcated as immunohistochemistry test (IHC), polymerase chain reaction tests (PCR), in situ hybridization tests (ISH), and others. Based on the indications, the global companion diagnostics market can be categorized as breast cancer, gastric cancer, colorectal cancer, melanoma, lung cancer, and others. Further on the bases of end users, the global companion diagnostics market can be categorized as reference laboratories, pharmaceutical companies and others.
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Increasing scope for companion diagnostics and emerging technologies, such as next-generation sequencing (NGS), are some of the major opportunities for the global companion diagnostics market. Some of the major factors driving the growth of global companion diagnostics market are growing adoption of companion diagnostics by pharmaceutical companies and reference laboratories, regulatory bodies encouraging implementation of companion diagnostics, increasing demand and developmental of personalized medicine and rising demand for targeted cancer treatment.
North America had the largest companion diagnostics market because of the increasing incidence of cancer and increased healthcare awareness. Whereas, Asia-Pacific is the fastest growing market of companion diagnostics owing to the strengthening healthcare services and increasing medical tourism in developing countries such as India and China.
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Some of the major competitors in companion diagnostics market are Biogenex Laboratories Inc, Agilent Technologies, Inc., Abbott Laboratories, Inc., Beckman Coulter, Inc., Danaher Corporation, Myriad Genetics, Inc., Qiagen N.V., bioMérieux SA, F. Hoffmann-La Roche AG, and General Electric Company.
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