Companion Diagnostics (CDx) Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Technology (Polymerase Chain Reaction (PCR), Immunohistochemistry (IHC), In-situ Hybridization (ISH), Next-Generation Sequencing (NGS)), By Indication (Lung Cancer, Breast Cancer, Colorectal Cancer, Other), And By Geography - Forecasts From 2022 To 2027

Published:  Mar 2022 Report Code: KSI061611889 Pages: 121

The companion diagnostics (CDx) market is projected to witness a compound annual growth rate of 17.68% to grow to US$17.618 billion by 2027, from US$5.637 billion in 2020.

A companion diagnostic device is a medical device that enables the user to receive crucial information regarding the use of corresponding drugs or biological products. The prime reason which is forecasted to drive the market growth is the rising prevalence of chronic diseases which has increased the market adoption of companion diagnostics. Furthermore, increasing healthcare expenditure with the rise in the standard of living and availability of technology coupled with demand for precision medicine has created notable opportunities for the companion diagnostic device.

Based on geography, the companion diagnostics (CDx) market is segmented into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.  The Asia Pacific region is forecasted to hold a substantial share of the market owing to a surge in medical tourism and advancement in the medical sector. The North American and European regions are projected to hold the largest share of the market with an increase in healthcare spending.

A next-generation sequencing companion diagnostic is expected to hold a notable share of the market.

Based on technology, the companion diagnostic market can be distinguished as a polymerase chain reaction, immunohistochemistry, in-situ hybridization, and next-generation sequencing. A next-generation sequencing companion diagnostic is expected to hold a significant share of the market, owing to technological effectiveness and better market prospects.

Lung and Breast Cancer indication is expected to dominate the market for a companion diagnostic.

By indication, the companion diagnostic market can be segmented into lung cancer, breast cancer, colorectal cancer, and others. Lung and breast cancer indication is expected to dominate the companion diagnostic market, owing to a higher number of cases. Lung and breast cancer are the two most prevalent types of cancers. These two are also the form of cancers with the highest number of deaths. A report published by the World Health Organization (WHO) shows that in 2020, there were 2.26 million cases of breast cancer, while 2.21 million cases of lung cancer. Breast cancer caused 685 thousand deaths in 2020, while lung cancer killed 1.80 million people. The growing prevalence of these forms of cancers is expected to create significant demand for a companion diagnostic. 

Growth Factors

  • Rising cases of cancer

One of the prime reasons supporting the growth in the companion diagnostics (CDx) market is the surging cancer cases. Companion diagnostic notably helps in cancer diagnostic and treatment. The device facilitates identifying a specific therapeutic solution for an individual suffering from cancer. A rise in cancer cases is expected to drive notable demand for companion diagnostic devices. Data from National Cancer Institute, NIH shows that 1.806 million new cases of cancer were diagnosed in the United States in 2020, increasing the rate of new cancer cases to 442.4% per 100,000 people. The rise in cancer cases is expected to surge the demand for diagnostic and treatment, hence supporting the market for a companion diagnostic.

  • The surge in healthcare expenditure

Another key factor that supports the market for companion diagnostics (CDx) is a surge in healthcare expenditure with the rise in the standard of living and the adoption of advanced medical technology. Data from The World Bank shows that global per capita healthcare expenditure has been increasing at a remarkable rate. Per capita healthcare expenditure reached US$1,110.286 in 2018 from US$1,020.88 in 2016. Promising investment in the industry is expected to expand the market prospects further. In the US, for instance, healthcare expenditure is expected to grow at a CAGR from 2019 to 2028 and is expected to reach US$6.2 trillion by 208, from US$4.1 trillion in 2020. It is expected to invest in the healthcare industry and is projected to provide exceptional growth opportunities.

COVID Insights

The coronavirus pandemic resiliently impacted the market for a companion diagnostic. The surge in cases and the emergency situation created by the robust spread of the COVID-19 led to more fund investment towards the vaccination and hence impacted the market for a companion diagnostic. Furthermore, fear of catching the virus refrained patients from going for regular checks, which impacted the discovery of new or potential cases and affected the market prospects.

Key Development

  • April 2021, Approval. The FDA gave a green signal to the country’s first-ever companion diagnostic device developed especially for endometrial cancer diagnosis, innovated by Roche. Ltd. The VENTANA MMR RxDx Panel developed by the latter successfully identifies endometrial cancer and helps in its treatment. Annually, around 90 thousand women die due to endometrial cancer. The companion diagnostic developed by Roche can identify the patient’s eligibility for JEMPERLI monotherapy.

Companion Diagnostics (CDx) Market Scope:

Report Metric Details
 Market size value in 2020  US$5.637 billion
 Market size value in 2027  US$17.618 billion
 Growth Rate  CAGR of 17.68% from 2020 to 2027
 Base year  2020
 Forecast period  2022–2027
 Forecast Unit (Value)  USD Billion
 Segments covered  Technology, Indication, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Abbott, Aglient Technolgies Inc., Arup Laboratories, F. Hoffmann-La Roche Ltd, Illumina, Inc., Invivoscribe, Inc, Myriad Genetics, Inc., QIAGEN, Thermo Fisher Scientific Inc.
 Customization scope  Free report customization with purchase

 

Key Market Segments

  • By Technology
    • Polymerase Chain Reaction (PCR)
    • Immunohistochemistry (IHC)
    • In-situ Hybridization (ISH)
    • Next-Generation Sequencing (NGS)
  • By Indication
    • Lung Cancer
    • Breast Cancer
    •  Colorectal Cancer
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Italy
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • Israel  
      • Others
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the companion diagnostics (CDx) market size by 2027?
A1. The companion diagnostics (CDx) market is projected to reach a market size of US$17.618 billion by 2027. 


Q2. What are the growth prospects for the companion diagnostics market?
A2. The global companion diagnostics market is projected to witness a CAGR of 17.68% during the forecast period. 


Q3. What is the size of the global companion diagnostics (CDx) market?
A3. Companion Diagnostics (CDx) Market was valued at US$5.637 billion in 2020. 


Q4. What factors are anticipated to drive the companion diagnostics market growth?
A4. One of the prime reasons supporting the growth in the Companion Diagnostics (CDx) market is the rising surging cancer cases.


Q5. Which region holds the maximum market share of the companion diagnostics (CDx) market?
A5. The North American and European regions are projected to hold the largest share of the companion diagnostics market with an increase in healthcare spending.

1. INTRODUCTION
1.1. Market Definition
1.2. Market Segmentation

2. RESEARCH METHODOLOGY  
2.1. Research Data
2.2. Assumptions

3. EXECUTIVE SUMMARY
3.1. Research Highlights

4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. COMPANION DIAGNOSTICS (CDX) MARKET,  BY TECHNOLOGY
5.1. Introduction
5.2. Polymerase Chain Reaction (PCR)
5.3. Immunohistochemistry (IHC)
5.4. In-situ Hybridization (ISH)
5.5. Next-Generation Sequencing (NGS)

6. COMPANION DIAGNOSTICS (CDX) MARKET, BY INDICATION
6.1. Introduction
6.2. Lung Cancer
6.3. Breast Cancer
6.4.  Colorectal Cancer
6.5. Others 

7. COMPANION DIAGNOSTICS (CDX) MARKET, BY GEOGRAPHY 
7.1. Introduction 
7.2. North America
7.2.1. USA
7.2.2. Canada
7.2.3. Mexico
7.3. South America
7.3.1. Brazil
7.3.2. Argentina
7.3.3. Others 
7.4. Europe
7.4.1. Germany
7.4.2. France
7.4.3. United Kingdom
7.4.4. Italy
7.4.5. Others 
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.5.2. Israel  
7.5.3. Others
7.6. Asia Pacific 
7.6.1. China
7.6.2. India
7.6.3. Japan
7.6.4. South Korea
7.6.5. Others 

8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix

9. COMPANY PROFILES
9.1. Abbott
9.2. Aglient Technolgies Inc.
9.3. Arup Laboratories
9.4. F. Hoffmann-La Roche Ltd
9.5. Illumina, Inc.
9.6. Invivoscribe, Inc
9.7. Myriad Genetics, Inc.
9.8. QIAGEN
9.9. Thermo Fisher Scientific Inc.

Abbott

Aglient Technolgies Inc.

Arup Laboratories

F. Hoffmann-La Roche Ltd

Illumina, Inc.

Invivoscribe, Inc

Myriad Genetics, Inc.

QIAGEN

Thermo Fisher Scientific Inc.

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