(EMAILWIRE.COM, July 04, 2019 ) The report "Companion Diagnostics Market by Technology (PCR, IHC, NGS, ISH), Indication (Breast cancer, NSCLC, Colorectal cancer, Neurological disorders, Infectious Diseases), End User (Pharmaceutical & Biopharmaceutical Companies, Reference Lab) - Global Forecast to 2022", The global companion diagnostic market is expected to reach USD 6.51 Billion by 2022 from USD 2.61 Billion in 2017, at a CAGR of 20.1%.

The growth of the market can be attributed to increasing lung cancer cases, growing number of genetic testing, rising need for personalized medicines, and regulatory guidelines that support the companion diagnostics market. However, uncertainty in the reimbursement scenario in different countries is expected to hinder market growth.

Browse 105 Market Data Tables and 37 Figures spread through 170 Pages and in-depth TOC on "Companion Diagnostics Market by Technology (PCR, IHC, NGS, ISH), Indication (Breast cancer, NSCLC, Colorectal cancer, Neurological disorders, Infectious Diseases), End User (Pharmaceutical & Biopharmaceutical Companies, Reference Lab) - Global Forecast to 2022"

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Based on technology, the polymerase chain reaction (PCR) segment accounted for the largest share of the market in 2016

On the basis of technology, the companion diagnostics market is broadly segmented into polymerase chain reaction (PCR), in situ hybridization (ISH), immunohistochemistry (IHC), next-generation sequencing (NGS), and other technologies. In 2016, the polymerase chain reaction (PCR) segment accounted for the largest share of this market and the next-generation sequencing (NGS) segment is expected to register the highest CAGR during the forecast period. The large share of the PCR segment is attributed to its ease of use and to the fact that it does not require many samples for biomarker identification.

Based on indication of companion diagnostics market, the oncology segment held the largest market share in 2016

Based on the indication, the global companion diagnostics market is divided into oncology, infectious diseases, neurology, and other indications. The oncology segment is expected to account for the largest share of the global companion diagnostics market by indication. It is also the fastest growing segment owing to the increasing cases of cancer cases across the globe and the rising number of clinical trials targeting cancer biomarkers for lung, breast, and prostate cancers.

North America dominated the market in 2016

North America accounted for the largest share of the market in 2016, followed by Europe. The large share of the North American market is attributed to the increasing technological advancements aimed at developing companion diagnostic tests for new indications such as neurology, infectious diseases, and so on. The Asia-Pacific region is expected to register the highest CAGR over the next five years. The need for tailored therapeutics for the region’s growing geriatric population; increasing number of hospitals and diagnostics laboratories; and growing prevalence of life-threatening diseases such as cancer and neurology diseases among others are driving the growth of the companion diagnostics market.

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