Overview and Scope
Companion diagnostics is an in vitro diagnostic medical test used to check the safety and effectivity of a corresponding drug or biological product. The test aids a medical expert to match a patient to a specific drug or therapy.

Sizing and Forecast
The companion diagnostics market size has grown exponentially in recent years. It will grow from $6.26 billion in 2023 to $7.52 billion in 2024 at a compound annual growth rate (CAGR) of 20.1%. The growth in the historic period can be attributed to increased adoption of personalized medicine, growth of oncology and cancer therapies, increased pharmaceutical r&d collaboration, precision medicine initiatives, and biomarker discovery
.

The companion diagnostics market size is expected to see exponential growth in the next few years. It will grow to $15.8 billion in 2028 at a compound annual growth rate (CAGR) of 20.4%. The growth in the forecast period can be attributed to targeted therapy development, infectious disease diagnostics, increasing rare disease diagnostics, increasing biomarker-based drug development, point-of-care testing, and liquid biopsy applications. Major trends in the forecast period include immunotherapy and immunology advances, ai and machine learning in diagnostics, product innovations, adoption of industry 4.0, strategic collaborations.

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Segmentation & Regional Insights
The companion diagnostics market covered in this report is segmented –

1) By Product And Service: Assays, Kits And Reagents, Software And Services
2) By Technology: Polymerase Chain Reaction, Next-Generation Sequencing, In Situ Hybridization, Immunohistochemistry
3) By Indication: Lung Cancer, Breast Cancer, Colorectal Cancer, Leukemia, Melanoma
4) By End-User: Pharmaceutical And Biopharmaceutical Companies, Reference Laboratories, Contract Research Organizations

North America was the largest region in the companion diagnostics market in 2023. The regions covered in the companion diagnostics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
The increasing number of targeted therapies is expected to propel the growth of the companion diagnostics market. Targeted therapy is a pharmacological therapy that targets particular characteristics of cancer cells to inhibit the growth and spread of the disease. The medications circulate throughout the body but have a more targeted effect than chemotherapy and frequently have fewer adverse effects. Biological marker-based companion diagnostic testing for targeted cancer therapy is becoming an essential part of personalized cancer care. According to the April 2021 article of European Society for Medical Oncology, the genome-targeted therapy estimated eligibility was 8.82% by the previous years and increased to 13.60% in 2020. Therefore, the rising number of therapies drives the companion diagnostics market growth.

Key Industry Players
Major companies operating in the companion diagnostics market include F Hoffmann-La Roche Ltd., Agilent Technologies Inc., Qiagen NV, Thermo Fisher Scientific Inc., Abbott Laboratories Inc., Abnova Corp., Amoy Diagnostics Co. Ltd., ARUP Laboratories, Bayer AG, Biomerieux SA, Danaher Corporation, Guardant Health Inc., Illumina Inc., Myriad Genetics Inc., Siemens Healthcare GmbH, Almac Group, Biogenex Laboratories Inc., Caris Life Sciences, Cepheid Inc., Diaceutics plc, Epic Sciences Inc., Foundation Medicine Inc., Genomic Health Inc., Grail Inc., Hologic Inc., HTG Molecular Diagnostics Inc., Inivata Ltd., Invivoscribe Inc., MolecularMD Corporation, Natera Inc., NeoGenomics Laboratories Inc., Personal Genome Diagnostics Inc., Precision Therapeutics Inc., Prometheus Laboratories Inc., Sividon Diagnostics GmbH, Sysmex Corporation, Ventana Medical Systems, Vermillion Inc.

The companion diagnostics market report table of contents includes:


1. Executive Summary
2. Compact Wheel Loaders Market Characteristics
3. Compact Wheel Loaders Market Trends And Strategies
4. Compact Wheel Loaders Market - Macro Economic Scenario
5. Global Compact Wheel Loaders Market Size and Growth
.................
31. Global Compact Wheel Loaders Market Competitive Benchmarking
32. Global Compact Wheel Loaders Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Compact Wheel Loaders Market
34. Compact Wheel Loaders Market Future Outlook and Potential Analysis
35. Appendix
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