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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Companion diagnostic is a medical device used as an in-vitro diagnostic device, which is used to provide essential information of the drug or therapeutic product such as whether the drug is safe and effective towards particular treatment in patients, identify whether the patients are more likely to have benefit from the prescribed drug, and also carries out drug monitoring on the patients.

Companion diagnostics are widely used in diseases such as breast cancer, lung cancer, gastric cancer, and neurological diseases. Moreover, companion diagnostics use a wide range of diagnostic procedures  such as polymerase chain reactions, in situ hybridization, next generation sequencing, immunohistochemistry, and multiplex assay and cellular imaging technologies.

Figure 1. Global Companion Diagnostics Market Value (US$ Mn), 2016-2027

Companion Diagnostics  | Coherent Market Insights

The global companion diagnostic market value is estimated to be valued at US$ 3,481.2 million in 2020 and is expected to exhibit a CAGR of 19.5% over the forecast period (2020-2027).

Significant increase in global companion diagnostic testing is mainly due to factors such as increasing prevalence of diseases such as lung cancer and non-small cell lung cancer. For instance, according to the US National Library of Medicine report in 2018, the U.S. estimated around 121,680 cases of lung cancer in men and 234,030 cases in females. Moreover, according to the same source, in 2018, lung carcinoma, prostate cancer, and breast cancer were the most diagnosed cancers in the U.S.

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Companion Diagnostics Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 3,481.2 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 19.5 % 2027 Value Projection: US$ 12,114.6 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC, Israel, and Rest of the Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Application: Lung Cancer, Breast Cancer, Colorectal Cancer, Gastric Cancer, Melanoma, Others.
  • By Technology: Real Time-Polymerase Chain Reactions(PCR), Gene Sequencing, Fluorescence in situ Hybridization, Others.
Companies covered:

F. Hoffmann-La Roche AG, Agilent Technologies, Inc, QIAGEN N.V, Abbott Laboratories, Inc., Almac Group, Danaher Corporation, Illumina, Inc, bioMérieux SA, Myriad Genetics, Inc, Sysmex Corporation, Thermo Fisher Scientific Inc, Abnova Corporation, Guardant Health, Inc., Icon Plc, and Biogenex Laboratories, Inc

Growth Drivers:
  • Greater diagnosis efficiency of fluorescence in situ hybridization in case of small tumor samples in cancer disease.
  • Increase in incidence of cancer is factor expected to drive the growth of global companion diagnosis market.
Restraints & Challenges:
  • Narrow labelling of companion diagnostic devices.
  • No histological information of patients retained in real time- polymerase chain reaction.

Global Companion Diagnostic Market- Impact of Coronavirus (Covid-19) Pandemic

There is a bidirectional relationship between COVID-19 and companion diagnostic market. For instance in April 2020, according to Diaceutics PLC, a diagnostic company announced results of impact of COVID on the cancer testing and diagnosis in the U.S. from their own COVID-19 oncology tracker. According to Diaceutics COVID-19 tracker, there is approximately 31% drop in companion diagnostic procedures.

Among regions, North America market is expected to grow, as key companies are focusing on product launches to expand the number of testing facilities and development in diagnostic procedures. For instance, in 2018, Roche Molecular Systems, Inc received an approval for cobas EFGR mutation test v2, a polymerase chain reaction (PCR) test used in diagnosis of mutation in epidermal growth factor receptor gene in non-small cell lung cancer.

Figure 2. Global Companion Diagnostic Market Share (%), by Region, 2020

Companion Diagnostics  | Coherent Market Insights

Moreover, in Europe companion diagnostic market, companies are focusing on mergers and acquisitions to strengthen the development in diagnostic procedures, which is expected to drive the market growth in this region. For Instance, in 2019, Myriad Genetics, Inc, a leading company in personalized medicines, announced its merger with AstraZeneca and Merck. The merger will lead to use of BRACAnalysis CDx to identify BRCA mutations in men suffering from metastatic castrate resistant cancer.

Key Players

Major players operating in global companion diagnostic market include F. Hoffmann-La Roche AG, Agilent Technologies, Inc, QIAGEN N.V, Abbott Laboratories, Inc., Almac Group, Danaher Corporation, Illumina, Inc, bioMérieux SA, Myriad Genetics, Inc,  Sysmex Corporation, Thermo Fisher Scientific Inc, Abnova Corporation, Guardant Health, Inc., Icon Plc, and Biogenex Laboratories, Inc.

Companion diagnostic is a diagnostic tool used by healthcare professionals to determine whether a particular therapeutic product is the suitability for the patient to outweigh any potential side effects of the therapeutic product. Companion diagnostic is advancing the course of patient care in the field of oncology sue to proper evaluation of therapeutic product and its efficiency towards the cancer patients. All the patients suffering from cancer are not able to be treated with immunotherapy. In such cases, companion diagnostics play an important role in helping physicians to identify the efficient targeted therapy for such cancer patients.

Market Dynamics

Robust product pipeline, increasing approval of companion diagnostic procedures, and high outsourcing of funds by companies for the development of companion diagnostic are the factors driving the global companion diagnostic market growth. For instance, in March 2019, F. Hoffmann-La Roche Ltd received the U.S. Food and Drug Administration (FDA) approval for the VENTANA PD-L1 (SP142) Assay, which is the first companion diagnostic to aid in identifying triple-negative breast cancer (TNBC) patient eligible for treatment with the Roche cancer immunotherapy Tecentriq (atezolizumab) plus chemotherapy.

Moreover, increasing incidence of cancer globally is also driving growth of the global companion diagnostic market. For instance, in September 2018, according to the Globocan 2018 report, Europe held the second position in new cancer cases and accounted for 23% and around 3,911,317 new cases of cancer.

Increasing investment in the research and development by pharmaceutical and biotechnological companies targeting major chronic diseases such as cancer, cardiovascular disease, neurological disease, and respiratory disease is expected to drive the companion diagnostic market growth over the forecast period. For instance, in 2018, Abbott Molecular, Inc received approval from the U.S. Food Drug and Administration for Abbott real time IDHI, an in vitro polymerase chain reaction assay for detection of IDHI R123 mutations for identifying acute myeloid leukemia with treatment therapy of TIBSOVO.

Key features of the study:

  • This report provides in-depth analysis of the global companion diagnostic market, and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2020–2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new drug launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global companion diagnostic market based on the following parameters – company overview, financial performance, drugs portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include F. Hoffmann-La Roche AG, Agilent Technologies, Inc, QIAGEN N.V, Abbott Laboratories, Inc., Almac Group, Danaher Corporation, Illumina, Inc, bioMérieux SA, Myriad Genetics, Inc, Sysmex Corporation, Thermo Fisher Scientific Inc, Abnova Corporation, Guardant Health, Inc., Icon Plc, and Biogenex Laboratories, Inc
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future drug launches, drug class up-gradation, market expansion, and marketing tactics
  • The global companion diagnostic market report caters to various stakeholders in this industry including investors, suppliers, device manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global companion diagnostic market

Detailed Segmentation:

  • Global Companion Diagnostic Market, By Application :
    • Lung Cancer
    • Breast Cancer
    • Colorectal Cancer
    • Gastric Cancer
    • Melanoma
    • Others
  • Global Companion Market, By Technology :
    • Real Time- Polymerase Chain Reactions (PCR)
    • Gene Sequencing
    • Fluorescence in-situ Hybridization
    • Others
  • Global Companion Diagnostic Market , By Region:
    • North America
      • By Application:
        • Lung Cancer
        • Breast Cancer
        • Colorectal Cancer
        • Gastric Cancer
        • Others
        • Others
      • By Technology  :
        • Real Time Polymerase Chain Reaction (PCR)
        • Generation Sequencing
        • Fluorescence in- situ Hybridization
        • Others
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Application:
        • Lung Cancer
        • Breast Cancer
        • Colorectal Cancer
        • Gastric Cancer
        • Others
        • Others
      • By Technology  :
        • Real Time Polymerase Chain Reaction (PCR)
        • Generation Sequencing
        • Fluorescence in- situ Hybridization
        • Others
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Application:
        • Lung Cancer
        • Breast Cancer
        • Colorectal Cancer
        • Gastric Cancer
        • Others
        • Others
      • By Technology  :
        • Real Time Polymerase Chain Reaction (PCR)
        • Generation Sequencing
        • Fluorescence in- situ Hybridization
        • Others
      • By Country:
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Application:
        • Lung Cancer
        • Breast Cancer
        • Colorectal Cancer
        • Gastric Cancer
        • Others
        • Others
      • By Technology  :
        • Real Time Polymerase Chain Reaction (PCR)
        • Generation Sequencing
        • Fluorescence in- situ Hybridization
        • Others
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Application:
        • Lung Cancer
        • Breast Cancer
        • Colorectal Cancer
        • Gastric Cancer
        • Others
        • Others
      • By Technology  :
        • Real Time Polymerase Chain Reaction (PCR)
        • Generation Sequencing
        • Fluorescence in- situ Hybridization
        • Others
      • By Country/Region:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Application:
        • Lung Cancer
        • Breast Cancer
        • Colorectal Cancer
        • Gastric Cancer
        • Others
        • Others
      • By Technology  :
        • Real Time Polymerase Chain Reaction (PCR)
        • Generation Sequencing
        • Fluorescence in- situ Hybridization
        • Others
      • By Country/Region:
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Hoffmann-La Roche AG *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Highlights
      • Market Strategies
    • Agilent Technologies, Inc,
    • QIAGEN N.V,
    • Abbott Laboratories, Inc.
    • Almac Group
    • Danaher Corporation
    • Illumina, Inc.
    • bioMérieux SA
    • Myriad Genetics, Inc
    • Sysmex Corporation
    • Thermo Fisher Scientific Inc
    • Abnova Corporation
    • Guardant Health, Inc
    • Icon Plc
    • Biogenex Laboratories, Inc.

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Application
      • Market Snippet, By Technology
      • Market Snippet, By Region
      • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Impact Analysis
    • Market Opportunities
    • New Product Launches
    • Mergers and Acquisitions
    • Regulatory Scenario
    • Pest Analysis
    • Porters Five Forces Model
  4. Global Companion Diagnostic Market, Impact of COVID-19 Pandemic
    • Post COVID-19 Impact
    • Implementation diagnosis/testing guidelines
    • Implementation of Testing Guidelines in Case of Companion Diagnostics
  5. Global Companion Diagnostic Market, By Application, 2016–2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
        • Lung Cancer
          • Introduction
          • Market size and forecast, and Y-o-Y Growth, 2020-2027, (US$ Mn)
        • Breast Cancer
          • Introduction
          • Market size and forecast, and Y-o-Y Growth, 2020-2027, (US$ Mn)
        • Colorectal Cancer
          • Introduction
          • Market size and forecast, and Y-o-Y Growth, 2020-2027, (US$ Mn)
        • Gastric Cancer
          • Introduction
          • Market size and forecast, and Y-o-Y Growth, 2020-2027, (US$ Mn)
        • Melanoma
          • Introduction
          • Market size and forecast, and Y-o-Y Growth, 2020-2027, (US$ Mn)
        • Others
          • Introduction
          • Market size and forecast, and Y-o-Y Growth, 2020-2027, (US$ Mn)
        • Cardiovascular Disease
          • Introduction
          • Market size and forecast, and Y-o-Y Growth, 2020-2027, (US$ Mn)
        • Neurological Disease
          • Introduction
          • Market size and forecast, and Y-o-Y Growth, 2020-2027, (US$ Mn)
        • Others
          • Introduction
          • Market size and forecast, and Y-o-Y Growth, 2020-2027, (US$ Mn)
  6. Global Companion Diagnostic Market, By Technology, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017– 2027
      • Segment Trends
        • Real Time -Polymerase Chain Reaction ( PVR)
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2020 – 2027, (US$ Mn)
        • Gene Sequencing
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2020 – 2027, (US$ Mn)
        • Fluorescence in- situ Hybridization
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2020 – 2027, (US$ Mn)
        • Others
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2020 – 2027, (US$ Mn)
  7. Global Companion Diagnostic Market, By Region, 2016–2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, By Country, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, For Countries, 2017–2027
    • North America
      • Introduction
      • Market Size and Forecast, By Application, 2020–2027 (US$ Mn)
      • Market Size and Forecast, By Technology, 2020-2027 (US$ Mn)
      • Market Size and Forecast, By Country, 2020–2027 (US$ Mn)
        • U.S.
        • Canada
    • Latin America
      • Introduction
      • Market Size and Forecast, By Application, 2020–2027 (US$ Mn)
      • Market Size and Forecast, By Technology, 2020-2027 (US$ Mn)
      • Market Size and Forecast, By Country, 2020–2027 (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Introduction
      • Market Size and Forecast, By Application, 2020–2027 (US$ Mn)
      • Market Size and Forecast, By Technology, 2020-2027 (US$ Mn)
      • Market Size and Forecast, By Country, 2020–2027 (US$ Mn)
        • Germany
        • U.K.
        • France       
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Introduction
      • Market Size and Forecast, By Application, 2020–2027 (US$ Mn)
      • Market Size and Forecast, By Technology, 2020-2027 (US$ Mn)
      • Market Size and Forecast, By Country, 2020–2027 (US$ Mn)
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • Introduction
      • Market Size and Forecast, By Application, 2020–2027 (US$ Mn)
      • Market Size and Forecast, By Technology, 2020-2027 (US$ Mn)
      • Market Size and Forecast, By Country, 2020–2027 (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Introduction
      • Market Size and Forecast, By Application, 2020–2027 (US$ Mn)
      • Market Size and Forecast, By Technology, 2020-2027 (US$ Mn)
      • Market Size and Forecast, By Country/Region, 2020–2027 (US$ Mn)
        • South Africa
        • Central Africa
        • North Africa
  8. Competitive Landscape
    • Company Profiles
      • F. Hoffmann-La Roche AG *
        • Company Overview
        • Clinical Trial Phase Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Agilent Technologies, Inc.
        • Company Overview
        • Clinical Trial Phase Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • QIAGEN N.V
        • Company Overview
        • Clinical Trial Phase Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Abbott Laboratories, Inc
        • Company Overview
        • Clinical Trial Phase Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Almac Group
        •  Company Overview
        • Clinical Trial Phase Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Danaher Corporation
        • Company Overview
        • Clinical Trial Phase Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Illumina, Inc
        • Company Overview
        • Clinical Trial Phase Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • bioMérieux SA
        • Company Overview
        • Clinical Trial Phase Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Myriad Genetics, Inc
        • Company Overview
        • Clinical Trial Phase Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Sysmex Corporation
        • Company Overview
        • Clinical Trial Phase Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Thermo Fisher Scientific Inc
        • Company Overview
        • Clinical Trial Phase Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Abnova Corporation
        • Company Overview
        • Clinical Trial Phase Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Guardant Health, Inc.
        • Company Overview
        • Clinical Trial Phase Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Icon Plc
        • Company Overview
        • Clinical Trial Phase Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Biogenex Laboratories, Inc
        • Company Overview
        • Clinical Trial Phase Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies

*Browse 33 market data tables and 26 figures on "Global Companion Diagnostic Market– Global forecast to 2027”.

Frequently Asked Questions

The global companion diagnostic market size is estimated to be valued at US$ 3,481.2 million in 2020 and is expected to exhibit a CAGR of 19.5 % between 2020 and 2027.
Commercial tie-ups and acquisitions by key players, and increasing prevalence of diseases such as neurological disorders, lung cancer, and gastric cancer are factors driving growth of the companion diagnostic market.
Ovarian cancer and prostate cancer segment is estimated to hold major market share in 2020, owing to high prevalence of cancers such as ovarian cancer, head and neck cancer, and prostate cancer.
North America companion diagnostic market is estimated to generate highest revenue share in 2020 in the global companion diagnostic market during the forecast period.
Variability in diagnostic results depending upon the fixation procedures of equipment and contaminations of results by stromal/ normal tissues in diagnostic procedure are hampering the market growth.
Major players operating in global endocrine testing market include F. Hoffmann-La Roche AG, Agilent Technologies, Inc, QIAGEN N.V, Abbott Laboratories, Inc., Almac Group, Danaher Corporation, Illumina, Inc, bioMérieux SA, Myriad Genetics, Inc, Sysmex Corporation, Thermo Fisher Scientific Inc, Abnova Corporation, Guardant Health, Inc., Icon Plc, and Biogenex Laboratories, Inc
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