Growing prevalence of cancer to augment growth of companion diagnostic market
Market Overview: Companion diagnostics are advanced tool that is widely used in diagnosis of diseases such as lung cancer, breast cancer, gastric cancer, and neurological diseases. Moreover, it also provide important information of the drug such as whether the drug is effective and safe towards particular treatment in patients. The global companion diagnostic market value is estimated to be valued at US$ 3,481.2 million in 2020 and is expected to exhibit a CAGR of 19.5% over the forecast period ( 2020-2027 ). Key Drivers Growing prevalence of breast cancer, gastric cancer, lung cancer, and neurological diseases is driving growth of the companion diagnostic market. According to the World Health Organization, in 2020, there were 2.3 million women diagnosed with breast cancer and 685 000 deaths globally. As of the end of 2020, there were 7.8 million women alive who were diagnosed with breast cancer in the past 5 years, making it the world’s most prevalent cancer. ...