Global Companion Cancer Diagnostics Market by Type (Breast Cancer, Lung Cancer, Colorectal Cancer, Melanoma, Gastric Cancer), By Application (Pharmaceutical & Biopharmaceutical Companies, Reference Laboratories, CROs, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global companion cancer diagnostics market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The market growth is attributed to the increasing incidence of cancer, technological advancements in companion diagnostics, and rising demand for personalized medicine. Based on type, the global companion cancer diagnostics market is segmented into breast cancer, lung cancer, colorectal cancer, melanoma, gastric cancer and others. Breast Cancer held the largest share in 2017 owing to its high prevalence rate across the globe. Colorectal Cancer is expected to grow at a highest CAGR during the forecast period due to increasing awareness about early diagnosis and treatment options for colorectal cancers. Based on application, the global companioncancer diagnostics marketis segmented into pharmaceutical & biopharmaceutical companies; reference laboratories; contract research organizations (CROs); hospitals & clinics; academic research institutes; and others including point-of-care testing (POCT) providers and molecular diagnostic laboratories). Pharmaceutical & Biopharmaceutical Companies heldthe largest share in 2017 owingto their growing investmentsin R&D activities for novel drug development programs targeting various types of cancers.



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Product Definition:

Companion cancer diagnostics are tests that help physicians to determine whether a patient's cancer is likely to respond to a particular therapy. These tests use information about the patient's tumor, such as its genetic makeup, to help identify the best treatment options. Companion cancer diagnostics are important because they can improve the accuracy of treatment decisions and lead to better outcomes for patients.

Breast Cancer:

Breast cancer is a malignant tumor that develops in the breast tissue. The most common types of breast cancer are invasive ductal carcinoma (IDC), lobular carcinoma, and medullary thyroid carcinoma. Breast cancer had been observed to be the second leading cause for mortality in American women after lung cancer.

Lung Cancer:

Lung cancer is a form of lung carcinoma that develops from the lung tissues. The most common types of lung cancers are non-small cell lung cancer (NSCLC) and small cell lung cancer (SCLC). NSCLCs accounts for majority of the cases globally, whereas SCLCs are more prevalent in North America.

Non-small Cell Lung Cancer:  This type of tumor grows quickly.

Application Insights:

The others segment includes oncology laboratories, pathology facilities and diagnostic centers that provide services for blood cancer testing. The demand for these companion diagnostics is anticipated to grow with the rising prevalence of cancer across the globe.

Pharmaceutical & biopharmaceutical companies are majorly involved in the development of drugs & vaccines against various cancers such as lung, colorectal, breast and melanoma among others. They also manufacture companion diagnostics that help patients manage their disease by providing accurate test results in less time coupled with easy-to-use interfaces that help patients self-administer tests at home without any assistance from healthcare professionals. This has led to an increase in investment by pharmaceutical & biopharmaceutical companies towards developing innovative products for better management of cancer cases at an affordable cost coupled with high accuracy rates which is expected to drive growth over the forecast period.

Regional Analysis:

North America dominated the companion diagnostics market in 2016 with a revenue share of over 50.0%. This is due to the presence of key players such as Abbott, Biocept Inc., and Cologent LLC. In addition, increasing government funding for cancer research along with rising awareness about early diagnosis is expected to drive growth during the forecast period. For instance, according to statistics published by American Cancer Society in 2017, 1 out of 3 people will be diagnosed with cancer during their lifetime while 1 out of 6 will die from it.

Asia Pacific is expected to grow at a lucrative rate during the forecast period owing to factors such as improving healthcare infrastructure and growing patient awareness about early detection methods for various cancers including stomach, liver & pancreas among others which are less likely noticeable until they become severe thus leading towards higher mortality rates.

Growth Factors:

Increasing incidence of cancer: The increasing incidence of cancer is the major growth driver for the companion cancer diagnostics market. According to the American Cancer Society, around 1,685,210 new cases of cancer will be diagnosed in 2017 in the U.S., and this number is expected to rise in future. This will create a large demand for companion diagnostics products and services that can help in early diagnosis and treatment of cancers.
Rising awareness about benefits of early diagnosis: There is a growing awareness among people about the benefits of early diagnosis and treatment for various diseases including cancer. This is driving them to seek diagnostic tests at an earlier stage, which is benefiting the companion diagnostics market growth significantly.
Technological advancements: The rapid technological advancements are resulting in introduction of innovative products and services into the companion diagnostics market space that are helping healthcare professionals improve accuracy levels and patient outcomes considerably.. These technological advances are also helping reduce overall costs associated with disease management thereby fueling adoption rates across all end users segments..  4) Growing demand from emerging markets: A large majority (~70%)of global spending on Companion Diagnostic Products & Services comes from developed countries such as U S However; there exists a huge potential for these products & services especially from developing countries where incidence rates o f certain cancers (such as lungcancer)are high In addition t o this many developing countries do not have robust healthcare infrastructure making adoption o f these technologies easier 5) Increased focus on


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Scope Of The Report
Report Attributes
Report Details
Report Title
Companion Cancer Diagnostics Market Research Report
By Type
Breast Cancer, Lung Cancer, Colorectal Cancer, Melanoma, Gastric Cancer
By Application
Pharmaceutical & Biopharmaceutical Companies, Reference Laboratories, CROs, Others
By Companies
F. Hoffmann-La Roche, Agilent Technologies, QIAGEN, Abbott Laboratories, Almac Group, Danaher Corporation, bioMérieuxSA, Myriad Genetics
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
139
Number of Tables & Figures
98
Customization Available
Yes, the report can be customized as per your need.

Global Companion Cancer Diagnostics Market Report Segments:
The global Companion Cancer Diagnostics market is segmented on the basis of:
Types
Breast Cancer, Lung Cancer, Colorectal Cancer, Melanoma, Gastric Cancer
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Pharmaceutical & Biopharmaceutical Companies, Reference Laboratories, CROs, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
F. Hoffmann-La Roche
Agilent Technologies
QIAGEN
Abbott Laboratories
Almac Group
Danaher Corporation
bioMérieuxSA
Myriad Genetics



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Highlights of The Companion Cancer Diagnostics Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Breast Cancer
Lung Cancer
Colorectal Cancer
Melanoma
Gastric Cancer
By Application:
Pharmaceutical & Biopharmaceutical Companies
Reference Laboratories
CROs
Others
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Companion Cancer Diagnostics Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
Identifying Appropriate Advertising Appeals



8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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