According to a new research report by Allied Market Research titled “World Companion Diagnostic Market” 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. Companion diagnostic (CD) is an in-vitro diagnostic technique that provides information about therapeutic responses of patient to a specific treatment. Companion diagnostics helpin identification of the patients who would benefit from the treatment using a 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 the 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.

To Remain ‘Ahead’ Of Your Competitors, Request For A Sample @ https://www.alliedmarketresearch.com/request-sample/135 

COVID-19 scenario analysis:

1) The COVID-19 impact on the Companion diagnostic technologies market is unpredictable and is expected to remain in force till the fourth quarter of 2021.

2) The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned import-export of nonessential items for most of 2021. This led to sudden fall in the availability of important raw materials.

3) Moreover, nationwide lockdowns forced manufacturing facilities to partially or completely shut their operations.

4) Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of reliable and innovative drone analytics systems globally.

Inquiry for Short-term and Long-term Impacts of COVID-19 at: https://www.alliedmarketresearch.com/request-for-customization/135?reqfor=covid 

Companion diagnostics market by indication is segmented into oncology, cardiovascular, CNS, autoimmune & inflammation, virology and others. Presently, the majority of the companion diagnostics has 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. 

Key findings of the Companion diagnostic technologies market:

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

Porters 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 

List of Key Players Profiled in the Report:

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.

Interested in Procuring this Report? Visit Here: https://www.alliedmarketresearch.com/purchase-enquiry/135 
 
Trending Reports In Healthcare Industry:
 

 
About Allied Market Research:

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 digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is 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.