Global Companion Diagnostic Technologies Market (Indication and Geography) Size, Share, Global Trends, Company Profiles, Demand, Insights, Analysis, Research, Report, Opportunities, Segmentation and Forecast, 2013 – 2020 – Allied Market Research Companion diagnostics are in-vitro diagnostics that provide information about therapeutic responses of patients for a specific treatment. Companion diagnostics market is still nascent, and it is projected to reach $3.5 billion by 2020 from a base value of $1.1 billion in 2013, growing at a CAGR of 20% during 2014 to 2020. The global companion diagnostic market is segmented based on indication, technology and geography (North America, Europe, Asia Pacific and LAMEA). Geographically, LAMEA is the fastest growing region. The key drivers for this market are the increase in the discovery of biomarkers and co-development of drug and corresponding diagnostic. However, cost associated with developing drugs could impede the growth of this market. Opportunities for this market lie in developing companion diagnostics for various central nervous system conditions and hereditary conditions. Companion Diagnostics Indication Market Analysis Companion diagnostics is segmented on the basis of its use for indications such as oncology, cardiovascular conditions, central nervous system indications, inflammation and virology. Oncology is the highest revenue generating segment, as majority of the companion diagnostics have been developed for detection of various cancer biomarkers. The key driver for this market is an increase in research and development of targeted drugs, which require a corresponding companion diagnostic. To View the Complete Report visit: http://www.alliedmarketresearch.com/companiondiagnostic-technologies-market
Companion Diagnostics Technology Market Analysis Companion diagnostics technology market is segmented into Immunohistochemistry and Molecular diagnostics. Molecular diagnostics would be the fastest growing and highest revenue generator, mainly due to the use of techniques such as real time PCR, In Situ Hybridization and next generation sequencing. Other factors contributing to the growth is technological advancements in molecular diagnostics, which has resulted in increased accuracy and precision and also reduced cost of testing using these methods. Companion Diagnostics Geography Market Analysis Companion Diagnostics market has been segmented geographically into North America, Europe, Asia Pacific and LAMEA. North America has the major market share of 43.97% followed by Europe, which accounted for about 38% of the overall CD market in 2013. North America and Europe together accounted for over 82% in the global CD market in 2013 and they would continue to be the major markets through 2020. This is mainly due to the increasing incidence of cancer and other diseases and higher health care awareness in these regions. Competitive Analysis A study of some of the key players has showed that majority of the companies in this market are focusing on collaborations with drug companies. Companion diagnostics is a
emerging market and companies are collaborating with drug companies to develop companion diagnostics for their pipeline drugs, which are in developing phase. Approvals for companion diagnostics are the second most popular strategy. Companies profiled in this report include Dako (Agilent Technologies), Qiagen, Roche, Abbott Laboratories, Inc., Ventana Medical Systems, bioMerieux, Myriad Genetics, Inc., Resonance Health Ltd., Leica Microsystems, and Life Technologies. High Level Analysis The report is focusing on the trends in technology and diagnosis of various indications, which are driving the growth of the companion diagnostics market. Analysis of the market based on porters five force model shows that the bargaining power of the suppliers is high as the products produced are highly differentiated. The threat of new entrants is low as significant research and development is required for developing diagnostic tests. Apart from the R&D requirements, the investment required is also high. These factors make it difficult for new companies to enter the market. The threat of substitutes is low in this market as companion diagnostics are developed for specific biomarkers and the products are highly differentiated. Competition in this market is moderate as the market is still emerging and there are a few companies in the market. Government regulations are favoring use of companion diagnostics for determining a particular treatment. Companies are focusing on collaborations with pharmaceutical companies as a key strategy to gain competitive advantage. Reason for doing the study Companion diagnostics are an important aspect of the personalized treatment approach and are essential for predicting the therapeutic response to a particular drug. With increasing awareness among the population and rising incidences of cancer, companion diagnostics would become an essential factor for targeted therapeutic approach. More and more companies are developing targeted therapeutics products and companion diagnostics is an integral part of their strategy. KEY BENEFITS • In-depth analysis of the companion diagnostic market by technology and indications give a clear idea of the scope of this market • Analysis of the market by geography would help in making region specific plans • Estimations for period of 2013 to 2020 have been given, taking into consideration the current market scenario and future trends, which would give a clearer picture of the potential of the market • Porter’s five force model and SWOT analysis would help in a deeper understanding of the market and help in making strategic decisions • Top factors impacting the market would help in making decisions for business development MARKET BY INDICATIONS • Oncology • Cardiovascular • Central Nervous System • Auto immune & Inflammation • Virology
Others MARKET BY TECHNOLOGY • Immunohistochemistry • Molecular diagnostics o In situ Hybridization FISH CISH • Real time PCR • Gene Sequencing MARKET BY GEOGRAPHY • North America • Europe • Asia Pacific • LAME •
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