Global companion diagnostics market projected to reach $23.12 billion by 2033 with a CAGR of 12.50%.

From GlobeNewswire: 2024-06-15 02:00:00

The Global Companion Diagnostics Market is projected to grow from USD 7.12 billion in 2023 to USD 23.12 billion by 2033, with a CAGR of 12.50%. Companion diagnostics help customize treatments for patients based on their unique attributes, such as genetic composition. The market is driven by the rise in cancer cases and technological improvements in personalized treatment options.

The polymerase chain reaction segment dominates the global companion diagnostics market, offering a simple and widely available technique for diagnostic tests. The cancer segment leads in indication due to the importance of companion diagnostics in customized therapy and cancer diagnosis. The pharmaceutical and biotechnology segment is dominant among end-users, fueled by the growing importance of companion diagnostics in drug development.

North America holds the largest market share in the companion diagnostics market, driven by advanced technology and fully developed medical services systems. The Asia-Pacific region is expected to grow rapidly, offering potential for key stakeholders due to increased authorization and interest in companion diagnostics. Major vendors in the market include Agilent Technologies, Abbott Laboratories, and Danaher Corporation.

Recent developments include a partnership between Tempus and TScan Therapeutics to develop a companion diagnostic test for cancer patients. The market is segmented by technology, indication, end-user, and region. Spherical Insights & Consulting provides actionable market research and consulting services catered to various industries for decision-makers to achieve business objectives.



Read more at GlobeNewswire: Global Companion Diagnostics Market Size To Exceed USD