Companion Diagnostics Market Growth – at a CAGR of 18.3% During Forecast Period 2020-2028

Rising demand for advanced therapies, increasing number of diagnostic laboratories, and high focus on co-development of drugs and diagnostic techniques are some key factors expected to drive global market revenue growth  

Emergen Research has published its latest report titled, “Companion Diagnostics Market By Technology (Immunohistochemistry, In Situ Hybridization, Polymerase Chain Reaction, Genetic Sequencing), By Disease Indication (Breast Cancer, Lung Cancer, Colorectal Cancer, Skin Cancer), By Application (Hospitals, Diagnostic Laboratories), and By Region Forecast to 2027”

According to Emergen Research, the global companion diagnostics market size was USD 2.43 billion in 2019 and is expected to reach USD 9.72 billion in 2027 and register a revenue CAGR of 18.3% during the forecast period, 2020-2027.

Market Dynamics: 

A companion diagnostic is an in vitro medical device or test that provides precise information essential for safe and effective use of a biological product or drug. Companion diagnostics are co-developed with drugs for selecting or excluding patient groups for treatment with a specific drug. These tests are capable of identifying which patient group is likely to benefit from the drug and patient group with high risk of serious side effects. Companion diagnostics are gaining popularity owing to rising incidence of adverse drug reactions, high prevalence of cancer across the globe, and rising demand for in vitro diagnostics and therapies. Factors such as technological advancements in gene sequencing, rising incidence of cardiovascular, inflammatory, neurological, and infectious diseases, and increasing number of clinical trials are some key factors expected to drive market revenue growth.

Click Here to Access Free sample PDF Copy of the Report@

In addition, rising demand for precision medicine, increasing awareness about importance of early diagnosis, and rising investments for developing innovative and effective products are expected to fuel market growth over the forecast period. However, high cost of companion diagnostic tests and immunotherapy treatment, dearth of skilled healthcare professionals to operate advanced devices, and limited awareness about companion diagnostics testing in many developing countries across the globe are some factors that can hamper market growth to a certain extent during the forecast period. 

COVID-19 Impact Analysis:

  • Social distancing and restrictions severely disrupted businesses and operations
  • Lockdowns caused disruptions in transportation and logistics
  • Impacted manufacturing activities and mining operations globally
  • Took a toll on economy of various countries
  • Caused sudden and drastic downturn in economic activity
  • Disrupted agriculture, fisheries, dairy, and other sectors
  • Caused loss of employment and financial crisis
  • Supply impacts were further compounded owing to reduced disposable income
  • Emergence of variants continue to cause concerns and impact normal routines

Genetic Testing Segment Register Highest Revenue Growth:

The genetic testing segment is expected to register highest revenue growth during the forecast period owing to factors such as rising prevalence of chronic and hereditary diseases, rapid advancements in sequencing techniques, high demand for next generation sequencing for identifying unknown genes, fusions, and mutations. In addition, growing funds for clinical trials and research-based activities is expected to further fuel revenue growth of the segment during the forecast period. 

Hospital Segment to Account for Largest Revenue Share:

The hospital segment is expected to account for largest revenue share between 2020 and 2027. This can be attributed to availability of advanced treatment options and well-trained healthcare professionals in many hospitals, rising preference for chronic diseases across the globe, and improving healthcare infrastructure. 

Looking for Discount [Click on the link] @

North America to Lead in Terms of Revenue Share: 

North America is expected to account for largest revenue share over the forecast period owing to high prevalence of chronic diseases, presence of clinical laboratories and companion diagnostic vendors, and availability of advanced instruments and devices. Other factors such as growing geriatric population, high disposable income, increasing awareness about companion diagnostics, and rising number of research and development activities are expected to further boost North America market revenue growth during the forecast period. 

Major Companies in the Market Include:

  • Agilent Technologies
  • Foundation Medicine
  • Myriad Genetic Laboratories
  • Thermo Fisher Scientific
  • Johnson & Johnson
  • Arup Laboratories
  • Abbott
  • MolecularMD
  • BioMérieux
  • Illumina

For the purpose of this report, Emergen Research has segmented into the global companion diagnostics market based on the technology, disease indication, application, and region:

Technology Outlook (Revenue, USD Billion; 2017-2027)

  • Immunohistochemistry
  • In Situ Hybridization
  • Polymerase Chain Reaction
  • Genetic Sequencing

Disease Indication Outlook (Revenue, USD Billion; 2017-2027)

  • Breast Cancer
  • Lung Cancer
  • Colorectal Cancer
  • Skin Cancer

Application Outlook (Revenue, USD Billion; 2017-2027)

  • Hospitals
  • Diagnostic Laboratories

Have a look at Report Description and Table of Contents of Market Report@

Regional Outlook (Revenue, USD Billion; 2017–2027)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • U.A.E.
    • South Africa
    • Turkey
    • Rest of MEA

Latest Blog Articles Published by Emergen Research:

Top 5 Lithium Mining Countries Leading the Global Renewable Energy Transition

Top 5 Lithium Mining Companies Leading the Global Renewable Energy Transition

Top 10 Companies Offering High-performance Core Materials for Industrial Applications

World’s Top 10 Companies Offering 5G Services in the Defense Sector

World’s Top 10 Companies Offering Top-notch Business Transcription Services

Top 10 Companies in the World That Are Transforming Industries with Pioneering IoT Solutions

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact Us:

Eric Lee

Corporate Sales Specialist

Emergen Research | Web:

Direct Line: +1 (604) 757-9756


Visit for More Insights:

Explore Our Custom Intelligence services | Growth Consulting Services

Read Our Press release@


Back to news