The global companion diagnostic tests in oncology market is anticipated to witness moderate to high growth as numerous market players are collaborating with pharmaceutical manufacturers, reports Transparency Market Research (TMR). Additionally, there is a rise in number of new entrants in the market, thereby putting the position of prominent players at risk. Prominent players in the companion diagnostic tests in oncology market include Illumina Inc., and Agilent Technologies Inc. These companies emphasize on new product developments and account for a substantial share in the global companion diagnostic tests in oncology market.
Request Brochure of Report -
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=4684
As per expert analysts, the global companion diagnostic tests in oncology market is anticipated to garner a stellar CAGR of 16.8% during the forecast period which is 2017 to 2025. Growing at this pace, the market is expected to reach a valuation of US$13.6 by the end of the forecast period.
Based on biomarker, the global companion diagnostic tests in oncology market is categorized into EGFR, KRAS, HER2, BRAF V600E, and others. Out of these, the EFGR segment has registered the highest growth and is expected to withhold its position throughout the forecast period. This is on account of factors search as rising prevalence of lung cancer and increase in research and development activities.
Request Sample of Report -
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=4684
On the regional front, the global companion diagnostic tests in oncology market is classified into Asia-Pacific, Europe, Latin America, Middle East and Africa, and North America. Out of these, North America dominates the market and is perceived to hold a 37.5% of the market’s share by the end of the forecast period.
Rising Prevalence of Cancer to Boost Growth
Due to advancements in healthcare facilities and rising awareness, there has been a surge in demand for advanced therapies and personalized medicines. This is a key factor driving the growth of the global companion diagnostic tests in oncology market. Additionally, rising prevalence of cancer and high investment in its treatment have led to a spur in demand for advanced therapies for cancer treatment, thereby expediting the companion diagnostic tests in oncology market’s growth.
Get COVID-19 Analysis on Companion Diagnostic Tests in Oncology Market -
https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=4684
In addition to the aforementioned drivers, an unhealthy lifestyle and increased smoking leading to lung cancer have stimulated the market’s expansion. Moreover, new technological developments and rising research activities pertaining to medical diagnostic devices have resulted in a great adoption of diagnostic tests. This has impacted the companion diagnostic tests in oncology market positively, thereby stirring its growth.
However, there are a few restraints that may cause a downfall in the companion diagnostic tests in oncology market. Complications related to reimbursement and delay in the approvals may dissuade the market’s growth. Nonetheless, rise in funding from governments and numerous cancer welfare organizations may reduce the effects of the restraints. Additionally, recent developments in the pharmaceutical and biotechnology industry may attract consumers to the companion diagnostic tests in oncology market, thereby benefitting its growth.
Enquiry Before Buying -
https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=4684
Strategic Collaborations to Present New Opportunities for the Market
Key manufacturers of the diagnostic devices are increasingly collaborating with prominent pharmaceutical companies for the development of new devices and solutions that offer better results. For instance, NanoString Technologies collaborated with Astellas and Medivation to enhance PAM50-based Prosigna Breast Cancer Assay. Such collaborations have resulted in the development of enhanced solutions, thereby creating new avenues for the global companion diagnostic tests in oncology market. In addition, reduction in the drug discovery cost has also presented new growth opportunities for the market.
More Trending Reports by Transparency Market Research –
Fetal Monitoring Systems Market:
Fish Collagen Peptides Market:
About Us
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyse information. Now avail flexible Research Subscriptions, and access Research multi-format through downloadable databooks, infographics, charts, interactive playbook for data visualization and full reports through MarketNgage, the unified market intelligence engine. Sign Up for a 7 day free trial!
Contact Us
Rohit Bhisey
Transparency Market Research,
90 State Street, Suite 700,
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com/
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian
Kiswahili