The increasing occurrence of cancer cases is likely to increase the demand for companion diagnostic cancer biomarkers that can generate significant revenues in the coming period. The increasing need for targeted therapies is recognized as another salient cause that could bolster the industry. Furthermore, the growing number of clinical trials is expected to provide various growth opportunities that are expected to develop the trade during the assessment period.

According to the assessment conducted by Market Research Future (MRFR), the global companion diagnostics market is expected to reach a market value of $8,081.50 million and expand at a CAGR of 20.29% through the forecast period. The increasing demand for personalized medicine is expected to be a major factor that is expected to develop companion diagnostic technologies and expand the market over the period.

On the other hand, the narrow labeling of companion diagnostics is expected to hamper the market growth in the coming period. However, the growing initiatives of the governments of different countries to develop the technique can counteract the inhibiting cause, which can increase the sales revenue of the companion oncology diagnostics market.

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Some of the major players in the global companion diagnostics market are Thermo Fisher Scientific Inc. (USA), F. Hoffmann-La Roche Ltd (Switzerland), Agilent Technologies, Inc. (USA), bioMérieux SA (France), QIAGEN (Germany), Abbott (USA), Leica Biosystems Nussloch GmbH (Germany), Myriad Genetics , Inc. (US), Illumina, Inc. (US), ArcherDX, Inc. (US) and NG Biotech (France).

Segmentation:

The global companion diagnostics market has been segmented on the basis of products & services, technology, indication and end-user, according to the study conducted by MRFR experts in the report.

By Products & Services

• kits and reagents
• assays
• Software & Services

Through…