Dallas, Texas (PRWEB) April 08, 2014
One of the major trends being witnessed in the market is the increase in growth strategies among vendors. Many diagnostic companies are adopting various strategies such as licensing agreements, product launches, collaborations, acquisitions, capital investment, and government support to develop companion diagnostic theranostic tests and targeted therapeutics and to strengthen their diagnostics product portfolio. Thus, many such activities are expected to boost the development of new diagnostic devices, thereby bolstering the growth of the Global Companion Diagnostics market during the forecast period.
Analysts forecast the Global Companion Diagnostics market will grow at a CAGR of 18.59 percent over the period 2013-2018. According to the report, the increased focus on cost cutting in the drug discovery and development process is one of the major drivers. The growth of genomics and proteomics has enabled the understanding of different expression stages associated with a specific disease among the human population. This has enabled many companies to develop highly specific drugs known as targeted therapeutics. It has also allowed better management of the drug development process, resulting in effective cost management. The paradigm shift in the focus to develop targeted therapeutics has enabled the development of companion diagnostic tests to monitor and administer patients with ease.
Covered in this Report
This report covers the present scenario and the growth prospects of the Global Companion Diagnostics market for the period 2013-2018. To calculate the market size, the report considers revenue generated from the sales of companion diagnostic tests and associated kits provided by the vendors. It also presents the vendor landscape and a corresponding detailed analysis of key five vendors in the Global Companion Diagnostics market. The market is highly fragmented, with the presence of many small and large vendors. It includes vendors that operate across the globe and have a substantial presence in North America and the European Union. In addition, the report discusses the major drivers that influence the growth of the Global Companion Diagnostics market. It also outlines the challenges faced by vendors and the market at large, as well as the key trends that are emerging in the market.
Global Companion Diagnostics Market 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas and the EMEA and APAC regions; it also covers the Global Companion Diagnostics market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
- Abbott Laboratories
- Agilent Technologies Inc.
- bioMérieux SA
- Qiagen N.V.
- Roche Holding AG
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Other Prominent Vendors
- 20/20 Genesystems Inc.
- A & G Pharmaceutical Inc.
- AccuTheranostics Inc.
- Alacris Theranostics GmbH
- AutoGenomics Inc.
- Biogenex Laboratories Inc.
- Leica Biosystems GmbH
- Life Technologies Inc.
- Luminex Corp.
- pHLOGISTIX LLC
- Spartan Bioscience Inc.
- TheraDiag S.A.
- Theranostics Health Inc.
- Ventana Medical Systems Inc.
Key Market Driver
- Increasing Focus on Reducing the Cost of Drug Discovery and Development.
Key Market Challenge
- High Cost Associated with the Development of Companion Diagnostics.
Key Market Trend
- Increase in Growth Strategies among Vendors
Further, the report states that one of the major challenges in this market is the high cost involved in the development of companion diagnostics. The cost of developing companion diagnostics is high and adds to the overall cost of the targeted therapeutics and diagnostic tests.
Key Questions Answered in this Report
- What will the market size be in 2018 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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