The
companion diagnostic technologies market was valued at $2.78 billion in 2023 and is expected to reach $9.06 billion by 2034, growing at a compound annual growth rate (CAGR) of 11.34% from 2024 to 2034.
Companion Diagnostic Technologies Market: Driving Personalized Treatment
Companion diagnostics (CDx) are tests that help determine the most appropriate and effective use of a specific drug or biological product. These tests identify which patients are most likely to benefit from a particular treatment. CDx can involve various tools, including in vitro diagnostic (IVD) devices or imaging technologies. These tests are conducted on biological samples, such as tissue biopsies, blood, plasma, or bone marrow, and utilize advanced genomic methods like next-generation sequencing (NGS) or qPCR, along with protein-based technologies like immunohistochemistry.
The market for CDx is being driven by the growing demand for personalized medicine and the rise of targeted therapies. CDx tests allow for more tailored treatments across various diseases, offering insight into potential side effects and the therapeutic effects of medications. As research and development in this field continue to expand, along with the increasing number of clinical trials for cancer and other chronic diseases, the adoption of CDx is expected to grow.
Companion Diagnostic Technologies Market Trends
- In September 2024, Agilent Technologies launched its Biopharma CDx Services Lab in California, aiming to streamline the transition from early assay development and testing to full commercialization of companion diagnostics.
- In August 2024, Becton, Dickinson, and Company announced a strategic partnership with Quest Diagnostics to co-develop, manufacture, and market flow cytometry-based companion diagnostics for cancer and other diseases.
- In April 2023, Foundation Medicine partnered with Bristol Myers Squibb to develop the FoundationOne CDx test as a companion diagnostic for repotrectinib, an experimental tyrosine kinase inhibitor.
Leading Companies in the Companion Diagnostic Technologies Market
- Agilent Technologies, Inc.
Agilent Technologies is a global leader in life sciences, diagnostics, and applied chemical markets. Known for their cutting-edge diagnostic tools, Agilent provides comprehensive solutions in companion diagnostics, focusing on enhancing the precision and effectiveness of targeted therapies. - Abbott Laboratories
Abbott is a well-established name in the healthcare industry, specializing in diagnostics, medical devices, and nutritional products. Their companion diagnostics solutions are integral to personalized medicine, helping clinicians select the right treatments for patients based on genetic and molecular testing. - Becton, Dickinson and Company
Becton Dickinson, or BD, is a prominent medical technology company known for its diagnostic and medical device solutions. BD has expanded into the companion diagnostics space, collaborating with partners to develop advanced diagnostic tools for cancer and other diseases. - BioGenex
BioGenex specializes in diagnostic solutions, particularly focusing on immunohistochemistry and molecular diagnostics. Their companion diagnostics products are designed to provide crucial insights into cancer treatments, aiding in the development of personalized therapies. - Bristol Myers Squibb
A leading global biopharmaceutical company, Bristol Myers Squibb is at the forefront of developing targeted therapies. Through collaborations with companies like Foundation Medicine, they work on companion diagnostics to ensure the right patients receive the right treatment for conditions like cancer. - Danaher Corporation
Danaher is a science and technology company with a strong presence in diagnostics and life sciences. Their diagnostic tools, including companion diagnostics, are used to tailor medical treatments, particularly in oncology and other complex diseases. - Foundation Medicine
Foundation Medicine is a leader in genomic testing and precision medicine. Their FoundationOne CDx test is widely used as a companion diagnostic tool for various cancer therapies, offering insights into the genetic makeup of tumors and guiding treatment decisions. - Myriad Genetics, Inc.
Myriad Genetics focuses on genetic testing and molecular diagnostics. Their companion diagnostics help physicians choose the most effective cancer treatments by analyzing genetic mutations and biomarkers that influence therapeutic outcomes. - Qiagen NV
Qiagen is a leading provider of molecular diagnostic and sample preparation technologies. Their products, including companion diagnostics, are widely used in oncology, infectious disease, and other therapeutic areas to enhance precision medicine. - Quest Diagnostics
Quest Diagnostics is a major player in diagnostic testing and laboratory services. With a focus on precision medicine, Quest offers companion diagnostic testing to help identify the best treatment options for patients based on their genetic profiles. - Servier Pharmaceuticals
Servier Pharmaceuticals is a global pharmaceutical company that works on developing innovative therapies. Their commitment to personalized medicine includes investments in companion diagnostics to improve treatment outcomes for cancer and cardiovascular diseases. - Siemens Healthineers
Siemens Healthineers is a global leader in medical technology, providing diagnostic imaging, laboratory diagnostics, and molecular medicine solutions. Their companion diagnostics support the development of personalized therapies in various disease areas, particularly oncology. - Sysmex Corporation
Sysmex is known for its diagnostic instruments and reagents, particularly in hematology and molecular diagnostics. They are expanding into companion diagnostics to offer tailored solutions for a variety of diseases, enhancing the accuracy of treatment choices. - Tempus Technologies
Tempus is a technology company focused on precision medicine, offering genomic sequencing and data analysis to help identify the best treatment options for patients. Their companion diagnostics tools are widely used in cancer care to personalize treatment plans based on genetic insights. - Thermo Fisher Scientific
Thermo Fisher Scientific is a leading global provider of laboratory equipment, reagents, and diagnostics. Their advanced molecular diagnostics solutions, including companion diagnostics, help healthcare providers make more informed decisions in the treatment of complex diseases like cancer.
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