Companion Diagnostics Market Growth Size Analysis Report 2019
Posted by Arzan Bhesania on July 4th, 2019
A companion diagnostic device is a special kind of in-vitro medical device that provides information, which is essential for the effective and safe use of a similar drug or biological product. Companion diagnostics are developed simultaneously with medicine to help include or exclude a defined group of patients for treatment with a particular medicine based on their morphological characteristics that determine patients who respond and those who don’t respond to the therapy.
Market Drivers and Restraints:
The factors that boost the growth of the world companion diagnostic market are improvements in regulatory guidelines, increasing the need for patient-specific therapies, and the rising incidence of cancer globally. Nevertheless, uncertain reimbursement policies restrain market growth. The increasing number of clinical trials to fuel the adoption of companion diagnostics can prove as an opportunity for market growth. Even though the price related to the latest technology acts as a major barrier for the growth of world companion diagnostics market.
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Report segmented as:
Depending on geographic locations, global companion diagnostics market is segregated into seven major regions: North America, Latin America, Eastern Europe, Western Europe, the Asia Pacific Excluding Japan, Japan, and Middle East & Africa. North America is the dominating market for companion diagnostics owing to quick technical inventions, substantial investment on research and development in this region. Whereas, Asia-Pacific and Europe are estimated to grow at a significant growth due to the vast customer base, increasing government initiatives for improving healthcare infrastructure, and high disposable income.
Important market players:
Major players that operate in the market are Abbott Laboratories, Agilent Technologies, Danaher Corporation, Illumina Inc., Myriad Genetics, Inc., Qiagen, F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific, Inc., Sysmex Corporation, and Novartis AG.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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About the AuthorArzan Bhesania
Joined: June 18th, 2019
Articles Posted: 39
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