2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

Which Major Market Drivers Are Expected to Boost the Growth Potential of the Oncology Companion Diagnostics Market?

A rise in cancer cases is also propelling the oncology companion diagnostics market. These diagnostics support personalized treatments, improving effectiveness and reducing side effects. The National Cancer Institute reported in May 2024 that there were 20 million new cancer cases and 9.7 million deaths annually in 2022, with projections of 29.9 million new cases and 15.3 million deaths by 2040. Consequently, the companion diagnostics market is growing with rising cancer incidence.

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#What is the Anticipated CAGR of theOncology Companion Diagnostics Market, and What Factors Will Drive It?

The oncology companion diagnostics market rapidly expanded from $3.35 billion in 2024 to $3.8 billion in 2025 at a CAGR of 13.4%. Growth during the period was attributed to rising adverse drug reactions, increased demand for genomic testing, a growing incidence of cancer globally, the need for targeted therapies, and a rise in clinical trials.

The oncology companion diagnostics market is projected to grow to $6.21 billion in 2029, at a CAGR of 13.0%. This growth is fueled by the growing importance of personalized medicine, increasing diagnostic tests, emphasis on personalized cancer therapy, rising healthcare spending, and a higher incidence of cancer. Major trends include advances in diagnostic technologies, next-generation sequencing (NGS), AI integration, liquid biopsy technologies, and the development of point-of-care diagnostic devices.

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What Are the Key Market Innovations in theOncology Companion Diagnostics Market Over the Coming Years?

Major companies in the oncology companion diagnostics market are introducing innovative in vitro diagnostic tests. In May 2022, Illumina Inc. launched a new pan-cancer companion diagnostic for the TruSight Oncology Comprehensive (EU) test to support targeted cancer therapies.

Who Are the Top Companies Driving Innovation and Growth in theOncology Companion Diagnostics Market?

Major companies operating in the oncology companion diagnostics market are F. Hoffmann-La Roche AG, Bayer Diagnostic, Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Laboratory Corporation of America Holdings (LabCorp), Quest Diagnostics Incorporated, Eurofins Scientific SE, Agilent Technologies Inc., Illumina Inc., PerkinElmer Inc., bioMérieux SA, Sysmex Corporation, Bio-Rad Laboratories Inc., QIAGEN N.V., Exact Sciences Corporation, BGI Genomics Co. Ltd., Natera Inc., Myriad Genetics Inc., ARUP Laboratories, NeoGenomics Laboratories Inc., Guardant Health, Ambry Genetics Corporation, Biocartis SA, CENTOGENE N.V., Invivoscribe Inc., Pillar Biosciences Inc.

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Which Key Market Segments Comprise the Oncology Companion Diagnostics Market and Drive Its Revenue Growth?

The oncology companion diagnostics market covered in this report is segmented –

1) By Product: Instrument, Consumables, Software

2) By Disease Type: Melanoma, Breast Cancer, Colorectal Cancer, Leukemia, Prostate Cancer, Other Disease Types

3) By Technology: Immunohistochemistry (IHC), In Situ Hybridization (ISH) Or Fluorescence In Situ Hybridization (FISH), Polymerase Chain Reaction (PCR), Next-Generation Sequencing (NGS), Other Technologies

4) By End User: Hospital, Pathology Or Diagnostic Laboratory, Academic Medical Center, Other End-Users

Subsegments:

1) By Instrument: Polymerase Chain Reaction (Pcr) Instruments, Next-Generation Sequencing (Ngs) Systems, Immunohistochemistry (Ihc) Instruments, Fluorescence In Situ Hybridization (Fish) Instruments, Microarray Platforms

2) By Consumables: Reagents And Kits (Dna Or Rna Extraction Kits, Pcr Reagents), Biopsy Needles, Testing Slides And Chips, Control And Calibration Samples

3) By Software: Data Analysis Software, Bioinformatics Software ( For Gene Expression Analysis), Companion Diagnostic Decision Support Software, Clinical Workflow Management Software

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Which Regions Are Emerging as Leaders in the Oncology Companion Diagnostics Market?

North America was the largest region in the oncology companion diagnostic market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the oncology companion diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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