PUNE, India, February 10, 2023 (GLOBE NEWSWIRE) — The companion diagnostics market The size has been estimated at $6.80 billion in 2021. This market is expected to grow from US$7.67 billion in 2022 to US$15.91 billion in 2029 at a CAGR of 11.0% over the forecast period. In 2021, North America led this market with a revenue of $2.35 billion. This dominance can be attributed to the higher incidence of chronic disease and cancer in the Region, as well as the increasing use of advanced CDx assays.
Key Industry Development:
June 2022: In partnership with OmniSeq Corporation, Laboratory Corporation of America Holdings introduced OmniSeq INSIGHTsm, a tissue-based full genomic and immunological profiling test using next-generation sequencing (NGS) technology. The test is designed to improve patient outcomes and advance precision oncology.
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Companion Diagnostics Market Scope and segmentation of the report:
| report coverage | details |
| forecast period | 2022 to 2029 |
| Forecast period 2022 to 2029 CAGR | 11.0% |
| Value prognosis 2029 | $15.91 billion |
| base year | 2021 |
| Market size in 2021 | $6.80 billion |
| Historical data for | 2018 to 2020 |
| number of pages | 135 |
Growth factors in Companion Diagnostics market are:
- As the number of cancer patients continues to rise, so does the demand for effective diagnostic tools to guide treatment decisions, driving the growth of the companion diagnostics market.
- The development of new and improved diagnostic techniques such as next-generation sequencing (NGS) and polymerase chain reaction (PCR) has led to the development of more precise and accurate companion diagnostic tests.
- Companion diagnostics play a crucial role in personalized medicine, providing physicians with information about a patient’s unique genetic profile to determine the most appropriate treatment. This trend should drive growth in Companion Diagnostics…
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