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.

Increasing launch of new product for improving treatment efficiency is again fostering growth of the market. For instance, in 2019, Qiagen N.V announced the launch of therascreen PIk3CA RGQ polymerase chain reaction kit approved by the U.S. Food Drug and Administration, used for identifying the breast cancer patients eligible for treatment with PIQRAY, a therapy developed by Novartis.

Competitive Landscape:

F. Hoffmann-La Roche AG, Agilent Technologies, Inc, QIAGEN N.V, Abbott Laboratories, Inc., Almac Group, Danaher Corporation, Illumina, Inc, bioMérieux SA, Myriad Genetics, Inc,  Sysmex Corporation, Thermo Fisher Scientific Inc, Abnova Corporation, Guardant Health, Inc., Icon Plc, and Biogenex Laboratories, Inc.

Comments

Post a Comment

Popular posts from this blog

The Global 3D Printing For Medical Sector Market Growing to the Increasing Prevalence of Healthcare

Image
Market Overview: For a variety of medical applications, 3D printing can help create prosthetics, artificial teeth, bone grafts, and hearing aids. This process can also help replicate internal body structures from CT scans. Some products, like prosthetics for Sudanese victims, can be printed with precise mechanical properties. However, many 3D printed parts are weaker than traditional products. The layer-by-layer construction of 3D printed parts reduces strength and pliability by about 10 to 50 percent. These objects can be reused for further printing. This appears to be the first patent for 3D printing . Inkjet is the least common 3D printing technology, and the process is not well understood.  Key Market Drivers: The increasing expansion of healthcare units in the world is expected to augment the growth of the global 3D printing for medical sector market. For instance, according to the European Hospital and Healthcare Federation, there are currently more than 15,000 hospital...
Read more

Worldwide CAR-T cell therapies market is gaining significant growth in North America

Image
  Worldwide CAR-T cell therapies market is gaining significant growth in North America Market Overview: CAR-T cell therapies is advanced cancer therapy and is highly preferred over surgery, chemotherapy, and radiation. These target cancer cells and strengthen the patient’s immune system against the tumor. The global Car TCell therapy market is estimated to be valued at US$ 1,085.0 million in 2021 and is expected to exhibit a CAGR of 24.5% during the forecast period ( 2021 - 2028 ). Key Drivers According to the World Health Organization, cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020. There is a high prevalence of cancer around the globe. Growing number of patients showing failure response to the alternative cancer treatments is a prime factor driving growth of the CAR T cell therapy market. Increasing development of development of new and effective therapy options to cure cancer is again driving growth of the market gr...
Read more