How the Companion Diagnostics Market is Positioned for Growth: Trends, Market Size, and Future Opportunities (2025-2034)
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Drivers Are Shaping the Growth and Development of theCompanion Diagnostics Market?
The growth of the companion diagnostics market is expected to be propelled by the rising number of precision therapies. Precision therapy is a form of pharmacological treatment that identifies specific attributes of cancer cells to restrict their proliferation and dissemination. Although these drugs are distributed throughout the body, they are typically more targeted than chemotherapy and often result in fewer side effects. Companion diagnostic testing for targeted cancer treatment, which is based on biological markers, is becoming a crucial component of tailored cancer care. For example, according to the Personalised Medicine Coalition, a U.S.-based hospital and health care entity, the FDA increased its approval of new individualized treatments for patients with rare diseases to 16 in 2023, a substantial rise from six in 2022. Consequently, the increase in precision therapies is driving the expansion of the companion diagnostics market.
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How Will the Growth Rate of theCompanion Diagnostics Market Impact Industry Trends by 2034?
The market size of companion diagnostics has seen a fast-paced expansion in the previous years. The market is estimated to swell from $7.34 billion in 2024 to $8.75 billion in 2025, showcasing a compound annual growth rate (CAGR) of 19.3%. This considerable growth during the historical period is linked to factors such as the surge in personalized medicine usage, the development in oncology and cancer treatments, enhanced collaborations in pharmaceutical research and development, initiatives in precision medicine, and the discovery of biomarkers.
In the upcoming years, the companion diagnostics market is projected to witness remarkable growth, expanding to a worth of $19.07 billion in 2029, with a compound annual growth rate (CAGR) of 21.5%. This growth during the forecast timeframe can be linked to the evolution of targetedTherapy, diagnostics for infectious diseases, a rise in rare disease diagnostics, growing biomarker-based drug developments, point-of-care testing, and implementation of liquid biopsy applications. The forecast period will also see major trends like advancements in immunotherapy and immunology, the incorporation of AI and machine learning into diagnostics, product innovations, the embrace of industry 4.0, and strategic partnerships.
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Which Cutting-Edge Market Trends Are Expected to Drive theCompanion Diagnostics Market’s Growth?
Technological progression has emerged as a pivotal trend in the companion diagnostics market, with artificial intelligence paving the way for the development of more effective drugs. A wealth of information is constantly being collected from various genetic profiling, enabling the comprehensive application of AI. For example, Deep Genomics, a start-up based in Toronto, leverages artificial intelligence to discover superior treatments for genetic diseases and expedite their transition into clinical trials. Their aim is to utilize deep learning to mine the human genome for insights about disease origins, and to develop and experiment with chemical compounds that could possibly serve as cures. Through deep learning in a computational model, researchers can test billions of chemical compounds, identifying potential mixtures that could be transformed into life-saving medicines for people globally.
What Are the Leading Market Players Impacting theCompanion Diagnostics Market’s Growth Trend?
Major companies operating in the companion diagnostics market include F Hoffmann-La Roche Ltd., Agilent Technologies Inc., Qiagen NV, Thermo Fisher Scientific Inc., Abbott Laboratories Inc., Abnova Corp., Amoy Diagnostics Co. Ltd., ARUP Laboratories, Bayer AG, Biomerieux SA, Danaher Corporation, Guardant Health Inc., Illumina Inc., Myriad Genetics Inc., Siemens Healthcare GmbH, Almac Group, Caris Life Sciences, Cepheid Inc., Diaceutics plc, Epic Sciences Inc., Foundation Medicine Inc., Genomic Health Inc., Grail Inc., Hologic Inc., HTG Molecular Diagnostics Inc., Inivata Ltd., Invivoscribe Inc., MolecularMD Corporation, Natera Inc., NeoGenomics Laboratories Inc., Personal Genome Diagnostics Inc., Precision Therapeutics Inc., Prometheus Laboratories Inc., Sividon Diagnostics GmbH, Sysmex Corporation, Ventana Medical Systems, Vermillion Inc.
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How Are the Key Segments of the Companion Diagnostics Market Driving Opportunities and Innovations?
The companion diagnostics market covered in this report is segmented –
1) By Product And Service: Assays, Kits And Reagents, Software And Services
2) By Technology: Polymerase Chain Reaction, Next-Generation Sequencing, In Situ Hybridization, Immunohistochemistry
3) By Indication: Lung Cancer, Breast Cancer, Colorectal Cancer, Leukemia, Melanoma
4) By End-User: Pharmaceutical And Biopharmaceutical Companies, Reference Laboratories, Contract Research Organizations
Subsegments:
1) By Assays: Polymerase Chain Reaction (PCR) Assays, Immunohistochemistry (IHC) Assays, Next-Generation Sequencing (NGS) Assays, In Situ Hybridization (ISH) Assays
2) By Kits And Reagents: Diagnostic Kits, Detection Reagents, Control Reagents
3) By Software And Services: Data Analysis Software, Interpretation Software, Custom Development Services, Consulting and Support Services
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What Regions Are At the Forefront of #What Drivers Are Shaping the Growth and Development of theCompanion Diagnostics Market?# Market Expansion?
North America was the largest region in the companion diagnostics market in 2024. The regions covered in the companion diagnostics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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