Companion Diagnostics Market Analysis, Share and Future Scope

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.



Companion diagnostic is basically a bio-analytical method designed to evaluate whether the patient will respond favorably to the specific medical treatment or not. The market is fully dependent on discovery of biomarkers, and research and development of new drugs. With the surge in research and development of targeted rehabilitations and innovation of new biomarkers for a range of conditions, the global companion diagnostics market is growing at healthy rate.

Several targeted drugs in association with a companion diagnostics test are developed and have reached to large numbers of consumers. Large and small biopharmaceutical companies actively develop drug diagnostic combination products which are fast to surpass traditional drugs, favoring the concept of one-size-fits-all. U.S. Food and Drug Administration (FDA) have approved companion diagnostics for lung colorectal, breast, and melanoma. Some of the companion diagnostics devices are erbitux vectibix, lynparza, gilotrif, herceptin, exjade, gleevec, zelboraf and tarceva.

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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.

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.

DNA Sequencing Market Analysis and Forecast Report 2024

The global DNA Sequencing market size is projected to achieve a lucrative growth based on the advent of technological innovations and extensive clinical applications. The market is expected to be led by consumable products, in terms of both size and growth during the forecast period (2018-2023). This is attributed to the extensive use of consumables for sample preparation, cluster generation, and other processes during the course of experiments.

DNA sequencing make use of various technological platforms for fragmentation and sequencing studies. These technological platforms include sequencing by synthesis, ion semiconductor sequencing, sequencing by ligation, pyrosequencing, single-molecule-real-time sequencing, chain termination sequencing, and nanopore sequencing. Sequencing by synthesis is the most widely used platform in sequencing protocols and is the largest contributor to the DNA sequencing market, on the basis of product type. The category is also anticipated to witness fastest growth in demand, during the forecast period.

The key trends observed in the DNA sequencing industry are surge in clinical assessment through personalized genomics, increase in oncological research, demand for easy and fast clinical diagnosis, and adoption of high throughput technology.

The growing collaborations and partnerships among key players is expected to increase their market share in the coming years. For instance, in April 2017, Genome Diagnostics B.V. (GenDx) signed a global reseller agreement with Thermo Fisher Scientific, Inc. next-generation sequencing instruments. Under the agreement, GenDx and its distributors will have the rights to offer an end to end workflow to Human Leukocyte Antigen (HLA) typing laboratories that includes the Ion Torrent brand of next-generation sequencing (NGS) systems and consumables with GenDx assays and analysis software for allelic level HLA typing analyses.

Some of the other key players in the global market include Illumina, Inc, Pacific Biosciences of California, Inc., Siemens AG, ZS Genetics, Inc, Abbott Laboratories, Li-Cor, Inc., F. Hoffmann-La Roche Ltd., Oxford Nanopore Technologies, and Agilent Technologies, Inc.