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Global Companion Diagnostic (CD) Market is Expected to Reach $3.5 Billion by 2020 – Allied Market Research

June 10, 2014

PORTLAND, Oregon, June 10, 2014 /PRNewswire/ –

According to a new research report by Allied Market Research titled “Global Companion
Diagnostic Market (Indications, Technologies and Geography) – Industry Analysis, Trends,
Share, Opportunities and Forecast, 2013 – 2020″, the global companion diagnostic market is
expected to reach $3.5 billion by 2020, and it would grow at a CAGR of 20% from 2014 to
2020. North America was the highest revenue generating region in 2013 and would continue
to dominate the market through 2020. Furthermore, LAMEA (Latin America, Middle East and
Africa) is expected to be the fastest growing market at a CAGR of 22.7% during the
forecast period.

To view the complete report, visit us at

http://www.alliedmarketresearch.com/companion-diagnostic-technologies-market

Companion diagnostic (CD) is an in-vitro diagnostic technique that provides
information about therapeutic responses of patient to a specific treatment. Companion
diagnostics helps in identification of patients who would benefit from the treatment using
certain therapeutic product which would result in improved treatment outcomes and decrease
expenditure on healthcare. In addition, CD also helps in identifying the patient pool that
is most likely to respond to the therapeutic treatment; therefore, rules out therapies
that would be ineffective. Additionally, it also saves patients from adverse side effects
due to ineffective therapies, leading to reduced cost. Rising incidence of cancer,
increasing adverse reactions due to drugs and personalized treatment approach is pushing
R&D efforts to focus on development of targeted therapies. Technological advancement and
discovery of new biomarkers is also driving growth of this market. However, coordinating
the development of companion diagnostics and therapeutic products is a challenge for this
market. Nevertheless, the increasing incidences of cancer, cardiovascular conditions,
central nervous system conditions has resulted in significant investments in research and
development of targeted therapies, which would need corresponding companion diagnostics
and would be an opportunity for growth of this market.

Companion diagnostics market by indication is segmented into oncology, cardiovascular,
CNS, autoimmune & inflammation, virology and others. Presently, majority of the companion
diagnostics have been developed for cancer and thus, it is the major revenue generating
segment in the overall CD indication market. Companion diagnostics have been developed for
breast cancer, lung cancer, colorectal cancer, gastric cancer and melanomas. Companion
diagnostics for breast cancer is the highest revenue generator mainly because there has
been an increase in the incidences of breast cancer and many companion diagnostics have
been developed for detection of the HER/neu biomarker for breast cancer. As of now,
companion diagnostics for cardiovascular conditions, central nervous system conditions ,
inflammation and autoimmune diseases and viral diseases are very few, with a majority
still in development stage; however, as more and more biomarkers are being discovered,
there would be an increase in development of new companion diagnostics.

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Companion diagnostics market by technology is segmented into immmunohistochemistry and
molecular diagnostics. Molecular diagnostics has been the most favored technology and it
is expected that next generation sequencing and real-time PCR would drive the growth of
this market owing to recent advancements in these technologies. The market is dominated by
North America followed by Europe, as there is an increased healthcare awareness,
significant investments in research & development and increasing incidences of cancer and
other conditions in these regions. However, LAMEA is expected to grow at a significant
rate, as there are growing incidences of cancer in these regions. There is also an
increased awareness about healthcare, in the region; therefore, the usage of companion
diagnostics would invariably rise. Ten leading companies dealing in companion diagnostics
have been profiled and are Qiagen, Dako (Agilent Technologies), Roche, Abbott
Laboratories, Inc., bioMerieux, Ventana Medical Systems, Myriad Genetics, Inc., Leica
Microsystems, Resonance Health Ltd and Life Technologies. The key strategy followed by
majority of the companies is collaborations with pharmaceutical companies for developing
companion diagnostics for their pipeline drugs.

About Us:

Allied Market Research (AMR) is a full-service market research and business consulting
wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides
global enterprises as well as medium and small businesses with unmatched quality of
“Market Research Reports” and “Business Intelligence Solutions”. AMR has a targeted view
to provide business insights and consulting to assist its clients to make strategic
business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in
capturing most accurate market data and confirms utmost accuracy of our market forecasts.
Each and every data presented in the reports published by us is also extracted through
primary interviews with top officials from leading companies of domain concerned. Our
secondary data procurement methodology includes deep online and offline research and
discussion with knowledgeable professionals and analysts in the industry.

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SOURCE Allied Market Research


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