Market Snapshot
| Study Period: | 2018 - 2026 |
| Base Year: | 2021 |
| CAGR: | 17.3 % |
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Market Overview
The growth of the companion diagnostics market can be attributed to the increasing focus on personalized medicine and co-development of drug and diagnostic technologies. In addition, rising cases of adverse drug reactions related to drugs drive the need for companion diagnostics. The European market is driven by factors, such as improved efficacy/safety profiles of drugs, accelerated drug regulatory approvals, reduced healthcare expenditure and drug development costs, and increasing partnerships between market players and government organizations.
Oncology is one of the primary areas that has significantly benefitted due to the advent of companion diagnostics. Companion diagnostics have been highly beneficial in identifying patients with specific biomarkers that are predictive of responses. Companion diagnostics has the power to predict the response of any particular therapy targeted for a specific person, which, in turn, results in better patient treatments and the reduction of healthcare expenditure.
Scope of the Report
Companion diagnostics is referred to a complementary test performed, along with a type of therapeutic drug, in order to analyze its accessibility and efficacy to the individuals. Companion diagnostic tests provide information, which is essential for the safe and effective use of a corresponding drug or biological product.
| By Technology | |
| Immunohistochemistry (IHC) | |
| Polymerase Chain Reaction (PCR) | |
| In-situ Hybridization (ISH) | |
| Real-time PCR (RT-PCR) | |
| Gene Sequencing | |
| Other Technologies |
| By Indication | |
| Lung Cancer | |
| Breast Cancer | |
| Colorectal Cancer | |
| Leukemia | |
| Melanoma | |
| Other Indications |
| Geography | ||||||||
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Key Market Trends
Immunohistochemistry Segment is Estimated to Register Robust Growth over the Forecast Period.
Immunohistochemistry (IHC) is the process of detecting antigens or proteins in tissue cells, by leveraging the principle of antibodies binding to specific antigens. Developing rigorous IHC assays for companion diagnostics, especially across oncology drug pipeline, has been a significant step and priority for many top pharmaceutical companies. The use of the therapeutic humanized monoclonal antibody, trastuzumab, for the treatment of metastatic breast cancer, was the first to involve the IHC-based companion diagnostics, i.e., the Hercep Test marketed by Genentech (Roche). This test was used to identify patients who overexpress the HER-2 receptor, and thus, target a specific group of patients who are likely to show clinical efficacy to the drug administered.
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Competitive Landscape
The market is dominated by a few global players that compete primarily on the basis of technological innovations. Key market players include Abbott Laboratories, Agilent Technologies, Beckman Coulter Inc. (Danaher Corporation), BioMerieux SA, F. Hoffmann-La Roche AG, Qaigen Inc., Siemens Healthineers, and Thermo Fisher Scientific Inc., among others.
Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Rising Demand for Personalized Medicine and Targeted Therapy
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4.2.2 Co-development of Drug and Diagnostic Technology
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4.3 Market Restraints
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4.3.1 High Cost of Drug Development and Associated Clinical Trials
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4.3.2 Reimbursement Issues
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4.4 Porter's Five Forces Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Technology
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5.1.1 Immunohistochemistry (IHC)
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5.1.2 Polymerase Chain Reaction (PCR)
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5.1.3 In-situ Hybridization (ISH)
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5.1.4 Real-time PCR (RT-PCR)
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5.1.5 Gene Sequencing
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5.1.6 Other Technologies
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5.2 By Indication
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5.2.1 Lung Cancer
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5.2.2 Breast Cancer
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5.2.3 Colorectal Cancer
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5.2.4 Leukemia
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5.2.5 Melanoma
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5.2.6 Other Indications
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5.3 Geography
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5.3.1 Europe
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5.3.1.1 Germany
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5.3.1.2 United Kingdom
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5.3.1.3 France
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5.3.1.4 Italy
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5.3.1.5 Spain
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5.3.1.6 Rest of Europe
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 Abbott Laboratories
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6.1.2 Agilent Technologies
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6.1.3 Beckman Coulter Inc. (Danaher Corporation)
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6.1.4 BioMerieux SA
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6.1.5 F. Hoffmann-La Roche AG
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6.1.6 Qaigen Inc.
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6.1.7 Siemens Healthineers
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6.1.8 Thermo Fisher Scientific Inc.
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Europe Companion Diagnostics Market market is studied from 2018 - 2026.
What is the growth rate of Europe Companion Diagnostics Market?
The Europe Companion Diagnostics Market is growing at a CAGR of 17.3% over the next 5 years.
Who are the key players in Europe Companion Diagnostics Market?
Abbott Laboratories, Agilent Technologies, F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Qaigen Inc. are the major companies operating in Europe Companion Diagnostics Market.
