Oncology Companion Diagnostics Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

A companion diagnostic test is used to match a patient to a specific therapy or drug. An oncology companion diagnostic test identifies patient's genetic change or biomarker that is targeted by the drug.

MARKET SCOPE

The "Global Oncology Companion Diagnostics Market Analysis to 2031" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the oncology companion diagnostics market with detailed market segmentation by product, technology, disease type, end user, and geography. The report provides key statistics on the market status of the leading oncology companion diagnostics market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on product, the global oncology companion diagnostics market is segmented into instrument, consumable, and software.
•   On the basis of technology, the market is segmented into polymerase chain reaction (PCR), next-generation sequencing (NGS), immunohistochemistry (IHC), in situ hybridization (ISH)/fluorescence in situ hybridization (FISH), and other technologies.
•   Based on disease type, the market is bifurcated into breast cancer, non-small cell lung cancer, colorectal cancer, leukemia, melanoma, prostate cancer, and others.
•   On the basis of end user, the market is segmented into hospital, pathology/diagnostic laboratory, and academic medical center.

MARKET DYNAMICS

Drivers-

•   Increasing number of FDA approvals for CDx assay.
•   Rising prevalence of cancer.
•   Benefits offered by oncology Companion Diagnostics (CDx) assays.

Restraints-

•   High cost of cancer companion diagnostics tests

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The oncology companion diagnostics market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Oncology companion diagnostics market in these regions.

IMPACT OF COVID-19 ON ONCOLOGY COMPANION DIAGNOSTICS MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and medical industry in various countries due to lockdowns, travel bans, and business shutdowns. Various medical devices companies have shut down their productions, hence are unable to manufacture to meet the rising demand. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, COVID?19 pandemic caused damage in health care in terms of reduced hospital admissions or postponed treatment of patients suffering from other acute or chronic diseases. Further, In the United States, many doctors, hospitals and other healthcare facilities are delaying or canceling the cancer procedures, surgeries and sometimes screenings or other treatments, if it is not considered urgent, emergencies, or otherwise indicated for life-threatening conditions.

MARKET PLAYERS

The report covers key developments in the oncology companion diagnostics market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from oncology companion diagnostics market are anticipated to lucrative growth opportunities in the future with the rising demand for oncology companion diagnostics in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the oncology companion diagnostics market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Qiagen
•   Illumina
•   F. Hoffmann-La Roche Ltd.
•   Thermo Fisher Scientific, Inc
•   Agilent Technologies, Inc.
•   Arup Laboratories
•   Abbott
•   Myriad Genetics, Inc
•   Biomérieux SA
•   Invivoscribe

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Oncology Companion Diagnostics Report Scope