Dublin, Feb. 13, 2025 (GLOBE NEWSWIRE) — The “Companion Diagnostics Market Report 2025” has been added to ResearchAndMarkets.com’s offering.
The companion diagnostics market size has grown rapidly in recent years. It will grow from $7.34 billion in 2024 to $8.75 billion in 2025 at a compound annual growth rate (CAGR) of 19.3%. 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.
North America was the largest region in the companion diagnostics market in 2024.
The companion diagnostics market size is expected to see exponential growth in the next few years. It will grow to $19.07 billion in 2029 at a compound annual growth rate (CAGR) of 21.5%. 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.
The rising number of targeted therapies is anticipated to drive the growth of the companion diagnostics market. For example, in February 2024, the Personalised Medicine Coalition, a US-based hospital and healthcare organization, reported that the FDA approved 16 new personalized treatments for patients with rare diseases in 2023, compared to six in 2022. Consequently, the increase in targeted therapies is fueling growth in the companion diagnostics market.
The growth of the companion diagnostics market is further propelled by the rising prevalence of chronic diseases. Companion diagnostics are increasingly used in chronic diseases or non-communicable diseases (NCDs) to tailor treatment plans, monitor disease progression, and predict drug resistance. The World Health Organization reported that 74% of global deaths, equivalent to 41 million, are caused by NCDs annually. Notably, diseases such as cardiovascular diseases, cancer, chronic respiratory diseases, and diabetes contribute significantly to this burden. The rising incidence of chronic diseases underscores the essential role of companion diagnostics in enhancing patient outcomes and contributing to the overall growth of the market.
A key trend in the companion diagnostics market is technological advancement, particularly the integration of artificial intelligence (AI). AI is being leveraged to develop more efficient drugs and advance companion diagnostics. The extensive genetic profiling data sets, continuously generated, enable the application of AI to identify insights into disease causes. For example, Toronto-based start-up Deep Genomics is utilizing AI to expedite the discovery of better medications for genetic illnesses. Through deep learning, scientists can explore the human genome, analyze billions of chemical compounds, and identify promising formulations for clinical trials. This application of AI in companion diagnostics aligns with the broader trend of technological innovation, driving advancements in the field.
Major players in the companion diagnostics market are joining forces to create innovative treatment solutions aimed at enhancing personalized medicine, improving patient outcomes, and optimizing the effectiveness of targeted therapies. This collaboration among companies will accelerate the development and commercialization of companion diagnostics (CDx) for hematology and oncology treatments. For instance, in January 2024, Agilent Technologies, Inc., a California-based company providing instruments, software, services, and consumables for laboratories, announced a partnership with Incyte, a US-based pharmaceutical company. This collaboration combines Agilent’s expertise and established track record in developing companion diagnostics (CDx) to support Incyte’s hematology and oncology portfolio. As a result, Agilent will expand its CDx portfolio with new biomarkers, while Incyte will leverage Agilent’s proficiency in assay development, regulatory approvals, and commercialization to facilitate clinical trials and CDx registration in the U.S. and Europe.
Research Scope
Markets Covered:
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
Subsegments:
1) By Assays: Polymerase Chain Reaction (PCR) Assays; Immunohistochemistry (IHC) Assays; Next-Generation Sequencing (NGS) Assays; In Situ Hybridization (ISH) Assays
2) By Kits And Reagents: Diagnostic Kits; Detection Reagents; Control Reagents
3) By Software And Services: Data Analysis Software; Interpretation Software; Custom Development Services; Consulting and Support Services
Key Companies Profiled: F Hoffmann-La Roche Ltd.; Agilent Technologies Inc.; Qiagen NV; Thermo Fisher Scientific Inc.; Abbott Laboratories Inc.
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2025-2029 |
| Estimated Market Value (USD) in 2025 | $8.75 Billion |
| Forecasted Market Value (USD) by 2029 | $19.07 Billion |
| Compound Annual Growth Rate | 21.5% |
| Regions Covered | Global |
Companies Featured in this Companion Diagnostics Market Report
- 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
- 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.
For more information about this report visit https://www.researchandmarkets.com/r/c9b1wf
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- Companion Diagnostics Market
