The Companion Diagnostics market will be worth over $14bn in 2023 predicts new visiongain report
31 July 2018
A new report by visiongain predicts that the Companion Diagnostics market will exceed $14bn by 2023. This forecast and others appear in The Companion Diagnostics (CDx) Market Forecast 2018-2028: Leading Companies, Trends and Developments in the Growing Theranostics Market, published in April 2018. Visiongain is a business information provider based in London, UK.
The report examines the current and future trends in the Companion Diagnostics market. Companion Diagnostics are tests designed to confirm the presence of a specific biomarker and assist clinicians in selecting effective therapies for their patients. By the FDA definition, a companion diagnostic device “can be an in vitro diagnostic device or an imaging tool that provides information that is essential for the safe and effective use of a corresponding therapeutic product.” We are now at a point where an increasing number of targeted therapeutic products have reached the market and there are a great number of therapies currently in late-stage clinical trials that have the potential to enter into the market in the next 10 years. These products require the use of an associated diagnostic test in order to stratify patient populations and prescribe the medicine to the group of patients that will benefit the most from the product. The companion diagnostics market is set to show very strong growth as the cost saving potential of these tests becomes more apparent over the forecast period. Given the very high prices of a growing number of therapies, companion diagnostics can deliver savings to healthcare systems using this as a tool to reduce drug wastage. This makes understanding the companion diagnostics market and the opportunities available crucial for all those in fields related to the sector.
In this report, we examine the sales and provide forecasts to 2028 for a wide range of diagnostics products in the following submarkets: Theranostics and Other Companion Diagnostics. Additionally, this report includes a forecast to 2028 for the global in vitro diagnostics market. An analysis of existing partnerships, upcoming pipeline candidates with associated CDx programs and business strategies used by the companies involved in the sector are also included for all of the major submarkets. The prospects for the twelve leading national markets in the companion diagnostics market, including the US, Germany, France, Italy, Spain, the UK, Japan, China, India, Russia, Brazil and South Korea and Asia-Pacific are also included in this report. Using both primary and secondary research, forecasts have been built for the major submarkets and leading national and regional markets, accompanied by text giving a thorough explanation of events thought to shape the market currently and in the future.
Also included is analysis of the current leading players in the Companion Diagnostics market. Historical financial performance over 5 years is analysed, along with a breakdown of each company’s leading products, leading pipeline candidates and recent merger & acquisition information, with an analysis of news that may influence the course of the company.
“As targeted therapies become increasingly common, companion diagnostics, which allow for precise segmentation of patient populations will become vital in ensuring that the correct medicine is prescribed for each individual patient. Although they are mostly used in oncology at present, companion diagnostics have the potential to expand into other disease areas over the forecast period. Further advancements in technology will permit pharmaceutical companies to begin offering targeted therapies for more indications. This expansion, coupled with the potential for healthcare cost savings by reducing drug wastage through the use of companion diagnostics to enhance patient selection, will drive growth in the companion diagnostics market over the next ten years.” - pharmaceutical and medical devices industry analyst
Visiongain’s report provides revenue forecasts to 2028 for the companion diagnostics market and its leading submarkets and international markets. The report discusses selected leading companies which hold significant shares of the market. These companies include Roche, Qiagen N.V., Abbott Laboratories, Agilent Technologies, Myriad Genetics bioMerieux and Thermo Fisher Scientific. Visiongain’s report also discusses key economic points, commercial news, and analysis of strengths, weaknesses, opportunities and threats.
The Companion Diagnostics (CDx) Market Forecast 2018-2028: Leading Companies, Trends and Developments in the Growing Theranostics Market adds to visiongain’s range of analytical reports on industries and markets in healthcare.
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