Seattle, WA, Aug-14, 2018 — / Coherent Chronicle News / —
Companion Diagnostics – Growth Companion for Personalized Medicine
The global companion diagnostics market was valued at US$ 1,614.5 million in 2015 and is expected to witness a robust CAGR of 12.0% during the forecast period (2018 – 2026).
The U.S. FDA lays emphasis on regulatory clearance of companion diagnostics, in its recent draft guidance in 2016, before approving any oncology product that requires and in-vitro diagnostic (IVD) companion diagnostic device for tis safe and effective use. Therefore, drug developers and diagnostic test manufacturers need to work in close collaborations in order to avoid any regulatory bottlenecks. AstraZeneca plc struck a deal with Abbott Laboratories, Inc. in 2015 to develop a companion diagnostic test for tralokinumab, used for treating severe asthma. If successful, this would be the first companion diagnostic test developed for asthma. Moreover, AstraZeneca expects half of its drug launches to include companion diagnostic by 2020. This is a major factor implying the importance of companion diagnostics in treating chronic diseases.
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In January 2017, Agilent technologies, Inc. announced the extended use of its CE approved Dako PD-L1 IHC 22C3 pharmDx in determining PD-L1 expression status of patients suffering from metastatic Non-Small Cell Lung Cancer (NSCLC). This device helps determine the expression level of PD-L1 in both untreated and previously treated metastatic NSCLC patients with KEYTRUDA (pembrolizumab), a first-line treatment drug for metastatic NSCLC. This can be used for diagnosis of metastatic NSCLC and second-line or later treatment settings can also be identified for treatment with KEYTRUDA.
Key Vendors of Companion Diagnostics Market: Key companies covered as a part of this study include Abbott Laboratories, Inc., Agilent Technologies, Inc., Danaher Corporation, GE Healthcare, Qiagen N.V., Roche Diagnostics, Myriad Genetics, Inc., bioMérieux SA, Illumina, Inc. and Siemens Healthcare
Companion Diagnostics market report analyses the market potential for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, and market demand and supply scenarios.
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Regions of Companion Diagnostics market:
In the end, the report makes some important proposals for a new project of Companion Diagnostics Industry before evaluating its feasibility. Overall, the report provides an in-depth insight of 2016-2020 global Companion Diagnostics industry covering all important parameters.
Companion Diagnostics driver
Companion Diagnostics challenge
Companion Diagnostics trend
The global companion diagnostics market is expected to expand at a CAGR of 12% during the forecast period (2018–2026). Improved clinical outcomes, reduced total research cost and faster time to market are some of the major factors driving collaborations and CDx development globally
The breast cancer application in the global companion diagnostics market was estimated to be the largest in 2015 and is expected to dominate the companion diagnostics market throughout the forecast period in terms of value. This is owing to high number of approved brands with CDx tests, driving adoption of these products in treatment of breast cancer.
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