Published: June 2013
A new report published by Roots Analysis Private Ltd., a research group focused solely in the pharmaceutical industry, estimates that Companion Diagnostics market was worth USD 193 MM in 2012. This represented 10.1% of the total Personalised Medicine Diagnostics market.
The report, titled ‘Companion Diagnostics Market, 2013-2023’, anticipates a CAGR of 29.2% over the next five years with the market likely to reach USD 897 MM by 2018. The pipeline for companion diagnostics is rich with most products being developed with the collaborative effort of pharmaceutical and diagnostics companies. Many start-ups diagnostic companies are also engaged in partnership with large pharmaceutical companies for developing companion diagnostic tests.
Targeted therapeutics and companion diagnostics are the pillars of personalised medicine. Personalised medicine is a genome-based therapeutic approach that aims to adopt customised treatment for each individual. It uses aspects of genetic testing for checking potential abnormalities and tailoring the treatment so as to make it as individualised as the disease itself.
Targeted drugs have been fast to overshadow the traditional drugs, which favour the concept of one-size-fits-all. This has primarily been due to their superior efficacy and safety profile. More recently, several targeted drugs are being developed in association with a companion diagnostic test, which aids the identification of target population most likely to benefit from the therapy. The biopharmaceutical industry has been sceptical and slow to adopt the concept of companion diagnostics, as it limits the target population for the drug. However, their use also allows the companies to command premium prices in the market for their targeted drugs. Several companion drugs have reached blockbuster status even after targeting a limited audience, including Herceptin and Glivec.
The Companion Diagnostics Market, 2013-2023 report provides a comprehensive view of the companion diagnostics market. The report differentiates personalised medicine diagnostics and companion diagnostics. The market has also been evaluated regionally; this provides a greater clarity in the differing approaches various regions have towards personalised medicine and companion diagnostics. In parallel, the market for companion drugs, that are associated with companion diagnostics, has also been researched in detail.
About Roots Analysis Pvt. Ltd.
Roots Analysis is a specialist market research provider in the biopharmaceuticals industry. Our globally distributed and experienced leadership team believes in providing an unbiased independent perspective and an informed future outlook to our clients. All reports provide an in-depth review of current market landscape, future commercial potential, research & development, regulatory issues and regional growth drivers.
For further information on our reports, visit www.rootsanalysis.com/reports
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