Increasing Demand For Next-Generation Sequencing In Companion Diagnostics Market
Summary
- In May 2021, Qiagen N.V. (Germany) expanded the therascreen KRAS Kit.
- In April 2019, Roche Diagnostics (Switzerland) acquired TIB Molbiol Group (Germany). This acquisition will enhance Roche’s broad portfolio of molecular diagnostics solutions with a wide range of assays for infectious.
Opportunity: Increasing demand for next-generation sequencing:
NGS-based companion diagnostic tests aim to unlock molecular information from each patient's tumor genome to guide treatment decisions for cancer therapies. Next-generation sequencing detects multiple biomarkers for multiple drug therapies in a shorter time frame as compared to other sequencing techniques. The use of NGS panels for biomarker measurement in one test has the potential to help in the treatment of many different types of cancers. The various technological advancements in NGS also provide market players with an immediate competitive edge over players providing other technologies such as PCR, ICH, and ISH. As a result, major market players are focusing on developing companion diagnostic products based on NGS.
Companion Diagnostics Market (MarketsandMarkets)
What are the recent trends affecting the companion diagnostics market?
Recent trends affecting the companion diagnostics market are the COVID-19 outbreak, high drug development activity, and policy programs to provide effective care to patients with cancer.
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What are the major types of companion diagnostics used?
The companion diagnostics market is segmented into assays, kits & reagents, and software & services. The assays, kits & reagents accounted for the largest share of the companion diagnostics market in 2020, mainly due to the availability of a wide range of products, and increasing use of assays and kits in different therapeutic areas.
Who are the major end users of companion diagnostics?
Based on end users, The companion diagnostics market is segmented into pharmaceutical & biotechnology companies, reference laboratories, CROs, and other end users (including physician & hospital laboratories, and academic medical centers). In 2020, pharmaceutical & biotechnology companies accounted for a larger share of the companion diagnostics market. The growing use of companion diagnostics owing to their increasing prominence in drug development, and the increasing importance of companion diagnostic biomarkers.
Key Players:
- F. Hoffmann-La Roche Ltd. (Switzerland),
- Agilent Technologies, Inc. (US),
- Qiagen N.V. (Germany),
- Thermo Fisher Scientific, Inc. (US),
- Abbott Laboratories, Inc. (US),
- Almac Group (UK),
- Danaher Corporation (US),
- Illumina Inc. (US)
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