Oncology Companion Diagnostics Market Insights:
The Oncology Companion Diagnostics Market was analyzed which was worth USD 6.08 Billion in the year 2022, expecting a CAGR of 12.5% during the forecast period (2023-2030), and the market is projected to be valued at USD 15.6 Billion by 2030.
Driver:
The increased adoption of Oncology Companion Diagnostics in the Clinical Diagnostics is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Oncology Companion Diagnostics also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Oncology Companion Diagnostics in many sectors also boosts the market growth during the forecast period.
Oncology Companion Diagnostics (CDx) are tests that identify specific biomarkers or genetic mutations in a patient’s tumor, and help determine whether a patient is likely to benefit from a particular cancer therapy. CDx tests are designed to match patients with targeted therapies that are more likely to be effective for their specific type of cancer.
Oncology Companion Diagnostics Market Research Report” was just released by Market Research Community. It is divided into several categories, including Product & Service (Product (Instrument, Consumables, Software), Service), Technology (Polymerase Chain Reaction (PCR), Next-Generation Sequencing (NGS), Immunohistochemistry (IHC), In Situ Hybridization (ISH)/ Fluorescence in Situ Hybridization (FISH), Other Technologies), Disease Type (Breast Cancer, Non-Small Cell Lung Cancer, Colorectal Cancer, Leukemia, Melanoma, Prostate Cancer, Others), End-use (Hospital, Pathology/Diagnostic Laboratory, Academic Medical Center), and companies (Agilent Technologies, Inc., Illumina, Inc., QIAGEN N.V., Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche Ltd., ARUP Laboratories, Abbott, Myriad Genetics, Inc., bioMérieux SA, Invivoscribe, Inc.), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 12.5%, over the forecast period of 2023–2030.
Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Billion) | 15.6 Billion |
| CAGR (2023-2030) | 12.5% |
| By Product & Service | Product (Instrument, Consumables, Software), Service |
| By Technology | Polymerase Chain Reaction (PCR), Next-Generation Sequencing (NGS), Immunohistochemistry (IHC), In Situ Hybridization (ISH)/ Fluorescence in Situ Hybridization (FISH), Other Technologies |
| By Disease Type | Breast Cancer, Non-Small Cell Lung Cancer, Colorectal Cancer, Leukemia, Melanoma, Prostate Cancer, Others |
| By End-use | Hospital, Pathology/Diagnostic Laboratory, Academic Medical Center |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | Agilent Technologies, Inc., Illumina, Inc., QIAGEN N.V., Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche Ltd., ARUP Laboratories, Abbott, Myriad Genetics, Inc., bioMérieux SA, Invivoscribe, Inc. |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the Oncology Companion Diagnostics market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Agilent Technologies, Inc., Illumina, Inc., QIAGEN N.V., Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche Ltd., ARUP Laboratories, Abbott, Myriad Genetics, Inc., bioMérieux SA, Invivoscribe, Inc.
Market Segment Analysis:
By Product & Service
Product
- Instrument
- Consumables
- Software
Service
By Technology
- Polymerase Chain Reaction (PCR)
- Next-Generation Sequencing (NGS)
- Immunohistochemistry (IHC)
- In Situ Hybridization (ISH)/ Fluorescence in Situ Hybridization (FISH)
- Other Technologies
By Disease Type
- Breast Cancer
- Non-Small Cell Lung Cancer
- Colorectal Cancer
- Leukemia
- Melanoma
- Prostate Cancer
- Others
By End-use
- Hospital
- Pathology/Diagnostic Laboratory
- Academic Medical Center
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2022, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Oncology Companion Diagnostics industries in the region.
Key Oncology Companion Diagnostics Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Oncology Companion Diagnostics Market segments.
– Largest Market Share Held by Industry to Industry for Oncology Companion Diagnostics
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Oncology Companion Diagnostics Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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