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.
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.
Major Competitors in Companion Diagnostics Market
1- Biogenex Laboratories Inc
2- Agilent Technologies, Inc.
3- Abbott Laboratories, Inc.
4- Beckman Coulter, Inc.
5- Danaher Corporation
6- Myriad Genetics, Inc.
7- Qiagen N.V.
8- bioMérieux SA
9- F. Hoffmann-La Roche AG
10- General Electric Company.
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