The Global Companion Diagnostics Market Is Divided Into Three Categories: Technology Type, Indication, And Region

 

Companion Diagnostics

Companion diagnostic is a medical device that is used as an in-vitro diagnostic device to provide essential information about a drug or therapeutic product, such as whether the drug is safe and effective for a specific treatment in patients, identify whether the patients are more likely to benefit from the prescribed drug, and also performs drug monitoring on the patients. In diseases such as breast cancer, lung cancer, gastric cancer, and neurological diseases, companion diagnostics are widely used. Furthermore, companion diagnostics make use of a wide range of diagnostic procedures, including polymerase chain reactions, in situ hybridization, next generation sequencing, immunohistochemistry, multiplex assay, and cellular imaging technologies.

 

The global Companion Diagnostics Market is divided into three categories: technology type, indication, and region. The market is classified into immunohistochemistry, polymerase chain reaction (PCR), next generation sequencing (NGS), in situ hybridization, and others based on technology type. The market is divided into three sections based on indication: oncology, neurology, and others. Oncology is further subdivided into lung cancer, colorectal cancer, breast cancer, blood cancer, and other cancers. The market is studied across North America (the United States, Canada, and Mexico), Europe (Germany, France, the United Kingdom, and the rest of Europe), Asia-Pacific (China, Japan, Australia, and the rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa) (Brazil, South Africa and rest of LAMEA).

 

The development of new biomarkers for various diseases, an increase in R&D of targeted therapies, an increase in demand for customised medicine with increased recognition in developing markets, and an increase in the number of unmet cancer care needs are all expected to drive significant growth in the companion diagnostics market. For example, in September 2020, Roche launched a highly effective SARS-CoV-2 antibody test with rapid results. The introduction of such powerful diagnostic tests is expected to boost market growth.

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