Companion Diagnostics Market

F. Hoffmann-La Roche AG (Switzerland) and Agilent Technologies, Inc. are the Key Players in the Companion Diagnostics Market

The global companion diagnostics 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, the uncertainty in the reimbursement scenario in different countries is expected to hinder market growth.

F. Hoffmann-La Roche AG (Switzerland) is the largest player in the global companion diagnostics market. The company has maintained its leading position by focusing on inorganic growth strategies such as collaborations and agreements. For instance, in 2015, Ventana Medical System, Inc. (a subsidiary of Roche Diagnostics) entered in to agreement with Halozyme Therapeutics, Inc. to develop the companion diagnostic assays for use with Halozyme’s investigational new drug, PEGPH20. The company is also focusing on organic growth strategies such as product approvals and product launches to expand its product portfolio and product development capabilities. The company comprises an extensive product portfolio based on various technologies such as PCR, IHC, CISH, and FISH. The company has a wide geographic reach spanning 180 countries. This helps the company connect with its customers directly.

Agilent Technologies, Inc. is the second largest player in the global companion diagnostics market. The company has major focus on organic strategies such as product approvals and product launches. For instance, in 2017, the company received European approval for its companion diagnostics test Dako PD-L1 IHC 28-8 pharmDx for squamous cell carcinoma head and neck cancer (SCCHN) indication. The company adopted inorganic strategies such as collaborations and partnerships. With its significant focus on growth strategies and product offering, the company stands in visionary leaders of the companion diagnostics market. The company mainly focuses on developing companion diagnostics products for oncology indication. In the last three years, the company launched two companion diagnostics products based on the IHC technology—Dako PD-L1 IHC 28-8 pharmDx and PD-L1 IHC 22C3 pharmDx.

Some of the other players competing in this market are Thermo Fisher Scientific Inc. (U.S.), QIAGEN N.V. (Netherland), Illumina Inc. (U.S.), Abbott Laboratories, Inc. (U.S.), Myriad Genetics, Inc. (U.S.), Danaher Corporation (U.S.), Almac Group (U.S.), and Sysmex Corporation (Japan).

Related Reports:

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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Report Code
MD 5463
Published ON
Aug, 2017
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