The report "Companion Diagnostics Market by Technology (Polymerase Chain Reaction, In-situ hybridization, Immunohistochemistry), Application (Breast, Lung cancer) & End-user (Pharmaceutical Companies, Reference Lab)- Global Trends & Forecasts to 2019", The global companion diagnostics market is expected to reach $8,730.7 million by 2019 from $3136.9 million in 2014, at a CAGR of 22.7% during the forecast period (2014 to 2019).
Pune, India -- (SBWIRE) -- 03/29/2016 -- Browse 57 market data tables with 36 figures spread through 142 pages and in-depth TOC on "Companion Diagnostics Market"
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The global companion diagnostics market is consolidated in nature with five key players that contributed to a market share of 86% in 2013. Notable players of the global companion diagnostics market include Roche Diagnostics (Switzerland), Agilent Technologies Inc. (U.S.), QIAGEN N.V. (Netherlands), Abbott Laboratories Inc. (U.S.), and Thermo Fisher Scientific, Inc. (U.S.). In 2013, Roche Diagnostics accounted for the maximum share of 32% of the global companion diagnostics market.
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Leading companies focused on technology upgradations to retain a strong foothold in the oncology diagnostics market. In the oncology market, key players adopted the strategy of partnerships, agreements, and collaborations with leading pharmaceutical companies to codevelop their companion diagnostic kits/tests with personalized medicine, in order to capitalize on the increasing prevalence rate of various oncology cases, especially breast and lung cancer. This strategy accounted for the largest share of 68% of the total strategies adopted by the leading players between 2011 and 2014.
For instance, in 2014, Roche Diagnostics (Switzerland) partnered with Astra Zeneca (U.K.) to develop companion diagnostics test for the latter's drug AZD9291. This partnership enabled Roche to develop a test for identifying non-small cell lung cancer patients with EGFR gene. Furthermore, in 2014, QIAGEN N.V. (Netherlands) collaborated with Eli Lilly and Co. (U.S.) to codevelop a universal assay panel in order to develop a Modaplex analysis platform-based diagnostic test.
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Diagnostic manufacturers also focused on research and development to introduce advanced kits/tests in the global companion diagnostics market. For instance, in 2012, GE Healthcare (U.K.) acquired SeqWright, Inc. (U.S.) to integrate with Clarient's (a subsidiary of GE Healthcare) genomics capabilities and provided a framework to expand its clinical diagnostic offerings in next-generation sequencing. This novel technology is considered as the major breakthrough in the global companion diagnostics market.
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