According to the report "Companion Diagnostics Market” published by Market Data Forecast, the global market is projected to reach USD 8.88 Billion by 2021, at a CAGR of 21.6% from 2016 to 2021.

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Companion Diagnostics is developed to determine who would benefit from treatment and it helps in identifying if someone cannot be cured, but also equally can be affected by use of specific drug used for their ailment. Benefits provided by these products are providing crucial information on an individual’s risk factors for chronic conditions and enables health care professionals to decide whether drug it more beneficial over its risks or not.

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Increasing demand for personalized medicines, rising occurrence of cancer and reducing costs of drug development are the key factors fuelling the growth of the market for companion diagnostics. NGS-based companion diagnostics is one of the major factors that will drive the market due to its ability of identifying multiple genes at a single time.

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Segmented by:

1) By Indication
•Oncology
-Colorectal Cancer
-Breast Cancer
-Lung Cancer
-Gastric Cancer
-Melanoma
•Cardiovascular Diseases
•Central Nervous System Disorders
•Inflammation and Autoimmune Diseases
•Virology Diseases

2) By Technology:
•Immuno Histochemistry
•Molecular Diagnostics
-In-Situ Hybridization
-Real Time PCR
-Gene Sequencing

3) By Geography:
•North America
•Europe
•Asia-Pacific
•Latin America
•Middle-East and Africa

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Some of the key participating global players in companion diagnostics market global market are Abbott Molecular Inc., Roche Molecular Systems Inc., Leica Biosystems Nussloch GmbH, bioMérieux Inc., Dako Inc., Qiagen Ltd., ARUP Laboratories, Myriad Genetics Inc.,Biogenex Laboratories Inc., Ventana Medical Systems Inc., Thermo Fisher Scientific Inc. and others.

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