Pharmacetical Newswire

Pharmaceutical News!

Press release distribution service
Pharmaceutical Links

Pharmanewswire.Com: Pharmaceutical News

Emerging Trends in Companion Diagnostics Market by Types, Revenue, Industry Growth and Forecast 2024

 



(PharmaNewsWire.Com, November 15, 2019 ) According to the new market research report "Companion Diagnostics Market by Technology (PCR, IHC, NGS, ISH), Indication (Breast cancer, NSCLC, Colorectal cancer, Neurological disorders, Infectious Diseases), End User (Pharmaceutical & Biopharmaceutical Companies, Reference Lab) - Global Forecast to 2022", published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).

The companion diagnostics market is projected to reach USD 7.3 billion by 2024 from USD 3.5 billion in 2019, at a CAGR of 15.7% between 2019 and 2024. The growth of the market can be attributed to increasing lung cancer cases, growing number of genetic testing, rising need for personalized medicines, and regulatory guidelines that support the companion diagnostics market. However, uncertainty in the reimbursement scenario in different countries is expected to hinder market growth.

Don’t miss out on business opportunities in Companion Diagnostics Market.
Speak to our analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=155571681

A companion diagnostic assay is an in vitro diagnostic device (IVD) that is used to identify whether a patient with certain disease could be benefitted by a particular drug through the biomarker assessment. The report analyzes the companion diagnostics market by product & service, technology, indication, end user, and region.

Based on product & service, the assay kits & reagents segment accounted for the largest share in 2016, owing to its wide range of applications in platforms such as PCR, NGS, IHC, and ISH.

The growth of this market is majorly driven by the factors such as improvements in regulatory guidelines, growing need for targeted therapies, rising cancer incidence across the globe, and increasing collaborations and partnerships for companion diagnostics test development.

Browse and in-depth TOC on “ Companion Diagnostics Market "
176 – Tables
46 - Figures
239 - Pages
Request for Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=155571681

The companion diagnostic market in APAC is expected to grow at the highest CAGR during the forecast period. Factors such as the growing need of tailored therapeutics for the elderly population; increasing number of hospitals and diagnostic laboratories; and growing prevalence of life-threatening diseases are driving the growth of the companion diagnostics market in this regional segment.

Companion diagnostic assay kits include test panels that enable the detection of biomarker types. Companion diagnostics assays analyze the efficacy of a drug through the detection of disease biomarker activity against that drug. Companion diagnostic assays are operated on various technology platforms such as polymerase chain reaction (PCR), next-generation sequencing (NGS), immunohistochemistry (IHC), and in situ hybridization (ISH). Reagents include components such as staining solutions, acids, bases, buffers, detergents, solutions, and substrates required while performing various companion diagnostic tests. Reagents are products paired to the diagnostic test procedures and have a single-use.

Download an Illustrative overview of the report - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=155571681

Reimbursement challenges in different regions could limit market growth to a certain extent. Reimbursements for companion diagnostics vary widely across regions and countries. Currently, in most countries, reimbursement is provided only for treatments that offer better clinical results and evidence of performance.


MarketsandMarkets™

Mr. Shelly Singh

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com

Source: EmailWire.com


Pharmaceutical Sponsors

Free Biotech & Pharmaceutical Magazines

Pharmacy Newswire Video Feed

Pharmaceutical & Biotech Resources
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:

IronPort Provides Email Management and Analysis for a Premier Health Care Solutions Provider
Pharmaceutical & Medical Packaging News
Medical Laboratory Observer

No credit cards, coupons, or promo codes required. Try it today!

Pharmanewswire.com is part of GropWeb Network, online properties of GroupWeb Media LLC. Copyright © GroupWeb Media LLC. All Rights Reserved.

For unlimited press release distribution for $99 per month, call (281) 645-4086 or start posting your press releases online at EmailWire.com, or contact us.
Copyright 2009 GroupWeb Media LLC
GroupWeb Media Network

Aviation-NewsWire | ArtNewsWire | Auction NewsWire | CRM NewsWire | ePhotoNewsWire | Energy Industry | EstateNewsWire | Entertainment-NewsWire.com | Food Beverage News | Glamour NewsWire | Health NewsWire | Hosting NewsWire | i-Auto NewsWire | i-Business News | i-Homeland Security.Com | iMac-NewsWire.Com | i-Press-Release-Service | i-SoftwareNews.com | iT-NewsWire.Com
| i-TravelNewsWire.Com | MoneyNewsWire.Net | Movie-Stars-News.Com | MSNewsWire.Net | PharmaNewsWire.Com | Publishing-NewsWire.Com | RSSNewsWire.Net | Telecom-NewsWire.Net | Transportation-News.Com | USGovernment-News.Com | WebPosters.Net | Wireless-NewsWire.Com | VoIPNewsWire.Net | XSportsWorld.Net
Pharmanewswire.com - Pharmaceutical Newswire and Press Release service of GroupWeb Media LLC