As per the report, the Asia Pacific Companion Diagnostics Market size was worth USD 0.63 million in 2019 and estimated to be growing at a CAGR of 24.73%, to reach USD 1.89 million by 2024. APAC was the fastest-growing companion diagnostics market in 2019 due to the growing number of clinical trials for cancer and government support for new drug discovery in the pharmaceutical industry. Growth in the region is favoured by increasing population, increased spending on healthcare R&D by government and growing base of the affluent middle-class population
Companion diagnostics are diagnostic tests used to increase the effectiveness of the drug and for pre-determining the efficacy of the treatment. These products are mainly in-vitro devices or imaging tools, which are either developed after the drug is in the market or during drug development. Benefits provided by these products are providing crucial information on an individual’s risk factors for chronic conditions and enables health care professionals to decide whether drug it more beneficial over its risks or not.
Companion diagnostics have accompanied the development of personalized medicine, an advanced approach in the clinical treatment process. Key factors driving the companion diagnostics market are accelerated drug regulatory approvals, merging new pharmaceuticals and diagnostics, improved efficacy profile of drugs and reduced healthcare expenditure. Complex clinical trial procedures are hindering the market growth.
This research report segmented and sub-segmented into the following categories:
Regionally, due to the rapid increase in population in developing countries like China and India are the fastest-growing market in this region.
India has government support for In-vitro Diagnostics (IVD) system for patients treatment. Public and private partnership and launch of innovative schemes to improve Indian IVD technology are majorly propelling the demand of the market.
China has the fastest growth in the APAC market due to increasing population, demand for personalised medical care, and cancer diseases. Growing cancer, neurological and cardiovascular diseases is driving the companion diagnostics market. Also, China is recording 20% of lung cancer deaths from the past few years. Recently, US food and drug administration approved new PD-L 1 companion diagnostics that help to treat metastasis cancer effectively.
Japan is expected to grow the companion diagnostics market in the coming years. The ministry of health labour welfare has implemented similar regulation as per the FDA. Constant economic growth is also one of the factors for the market to grow in this country. Growing population and changes in lifestyle are greatly influencing the demand of the market.
Major companies in the APAC Companion Diagnostics Market profiled in this report are Abbott Molecular Inc., Roche Molecular Systems Inc., Leica Biosystems Nussloch GmbH, bioMérieux Inc., Dako Inc., Qiagen Ltd., ARUP Laboratories, Myriad Genetics Inc., Biogenex Laboratories Inc., Ventana Medical Systems Inc. and Thermo Fisher Scientific Inc.
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Indications
5.1.1 Oncology
5.1.1.1 Colorectal Cancer
5.1.1.2 Breast Cancer
5.1.1.3 Lung Cancer
5.1.1.4 Gastric Cancer
5.1.1.5 Melanoma
5.1.2 Inflammation and Autoimmune Diseases
5.1.3 Cardiovascular Diseases
5.1.4 Central Nervous System Disorders
5.1.5 Virology Diseases
5.2 By Technology
5.2.1 Immuno Histochemistry
5.2.2 Molecular Diagnostics
5.2.2.1 In-Situ Hybridization
5.2.2.2 Real Time PCR
5.2.2.3 Gene Sequencing
6. Geographical Analysis
6.3 Asia-Pacific
6.1 Introduction
6.2 China
6.3 India
6.4 Japan
6.5 South Korea
6.6 Australia
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Abbott Molecular Inc.
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Roche Molecular Systems Inc.
8.3 Leica Biosystems Nussloch GmbH
8.4 BioMérieux Inc.
8.5 Dako Inc.
8.6 Qiagen Ltd.
8.7 ARUP Laboratories
8.8 Myriad Genetics Inc.
8.9 Biogenex Laboratories, Inc.
8.10 Ventana Medical Systems Inc.
8.11 Thermo Fisher Scientific Inc.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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Aug 2019
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