Global companion diagnostic market is expected to reach $3.5 billion by 2020, and it would grow at a CAGR of 20% from 2014 to 2020. North America was the highest revenue generating region in 2013 and would continue to dominate the market through 2020. Furthermore, LAMEA (Latin America, Middle East and Africa) is expected to be the fastest growing market at a CAGR of 22.7% during the forecast period. Companion diagnostic (CD) is an in-vitro diagnostic technique that provides information about therapeutic responses of patient to a specific treatment. Companion diagnostics helps in identification of patients who would benefit from the treatment using certain therapeutic product which would result in improved treatment outcomes and decrease expenditure on healthcare. In addition, CD also helps in identifying the patient pool that is most likely to respond to the therapeutic treatment; therefore, rules out therapies that would be ineffective. Additionally, it also saves patients from adverse side effects due to ineffective therapies, leading to reduced cost. Rising incidence of cancer, increasing adverse reactions due to drugs and personalized treatment approach is pushing R&D efforts to focus on development of targeted therapies. Technological advancement and discovery of new biomarkers is also driving growth of this market. However, coordinating the development of companion diagnostics and therapeutic products is a challenge for this market. Nevertheless, the increasing incidences of cancer, cardiovascular conditions, central nervous system conditions has resulted in significant investments in research and development of targeted therapies, which would need corresponding companion diagnostics and would be an opportunity for growth of this market.